Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 31

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 2025 and indicates the fair value hierarchy of the valuation:Fair value measurements on a recurring basis as of January 31, 2025Level 1Level 2Level 3Assets:Money market accounts (included in cash and cash equivalents)$38,841 $— $— Time deposits (included in long-term prepaid expenses and other assets)339 — — Total assets$39,180 $— $— 

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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)

Fair value measurements on a recurring basis as of April 30, 2025Level 1Level 2Level 3Assets:Money market accounts (included in cash and cash equivalents)$49,979 $— $— Time deposits (included in long-term prepaid expenses and other assets)350 — — Total assets$50,329 $— $— Liabilities:Contingent consideration (included in accrued expenses and other current liabilities)$— $— $8,300 Total liabilities$— $— $8,300 All of the Company’s money market accounts are classified within Level 1 because the Company’s money market accounts are valued using quoted market prices in active exchange markets including identical assets.The following table summarizes the change in fair value of the contingent consideration with significant unobservable inputs:Three Months Ended April 30,20242025Balance, beginning of period$— $— Contingent consideration in connection with business acquisition— 8,100 Changes in fair value — 200 Balance, end of period$— $8,300 The contingent consideration consists of the potential earn-out payment related to the Company's acquisition of Alphapack, Co. dba Sandbox Banking ("Sandbox Banking") on February 7, 2025 and has a maximum potential payment of up to $10.0 million. The fair value of the contingent consideration was determined using a probability weighted discounted cash flow model. Changes in the fair value of the contingent consideration can result from changes in assumed discount periods and rates, and from changes pertaining to the estimated or actual achievement of the defined milestones. This contingent liability was classified as Level 3 within the fair value hierarchy. Changes in fair values of contingent