Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 139

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 8
Chunk 139
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 was $166.6 million, adjusted for estimated forfeitures, based on the estimated fair value of the Company’s common stock at the time of grant. That cost is expected to be recognized over a weighted average period of 2.91 years.Employee Stock Purchase PlanThe first offering period for the Employee Stock Purchase Plan ("ESPP") began on July 1, 2021 and ended on December 31, 2021. Thereafter, offering periods begin each year on January 1 and July 1.The fair value of ESPP shares during the six months ended July 31, 2024 and 2025 was estimated at the date of grant using the Black-Scholes option valuation model based on assumptions as follows for ESPP awards: Six Months Ended July 31,20242025Expected life (in years)0.500.50Expected volatility38.70% - 38.91%40.74% - 46.91%Expected dividends0.00%0.00%Risk-free interest rate5.24% - 5.37%4.25% - 4.29%

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Table of ContentsnCino, Inc.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(In thousands, except share and per share amounts and unless otherwise indicated)

Stock-Based Compensation ExpenseTotal stock-based compensation expense included in our unaudited condensed consolidated statements of operations were as follows:Three Months Ended July 31,Six Months Ended July 31,2024202520242025Cost of subscription revenues$793 $830 $1,355 $1,494 Cost of professional services and other revenues2,980 3,315 5,759 6,069 Sales and marketing4,184 3,746 8,140 6,674 Research and development5,286 3,685 9,512 7,800 General and administrative5,596 7,040 10,278 12,393 Total stock-based compensation expense$18,839 $18,616 $35,044 $34,430 

Note 9. Leases

Operating LeasesThe Company leases its facilities and a portion of its equipment under various non-cancellable agreements, which expire at various times through December 2033, some of which include options to extend for up to one year. See Note 15 "Restructuring" regarding lease terminations in connection with the Restruct