Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 96

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 1
Chunk 96
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 31, 2025 compared to the six months ended July 31, 2024, primarily attributable to an increase of $3.3 million in personnel costs, mostly attributable to restructuring costs incurred in connection with the Restructuring Plan, partially offset by a $1.7 million decrease in stock-based compensation expense. The increase in research and development also included an increase of $1.0 million in allocated overhead primarily attributable to internal investments in AI technology. The increase in research and development was partially offset by a decrease of $0.6 million in third-party professional fees.

Research and development headcount decreased by 33 from July 31, 2024 to July 31, 2025, primarily attributable to the Restructuring Plan. We expect research and development expenses will decrease as a percentage of total revenues as we leverage our existing technology investments.

General and Administrative

General and administrative expenses increased $5.1 million for the three months ended July 31, 2025 compared to the three months ended July 31, 2024, primarily attributable to an increase of $2.3 million in restructuring costs for exit costs and asset write-offs associated with the Restructuring Plan. The increase in general and administrative expenses also included an increase of $2.3 million in personnel costs, driven by $1.1 million in restructuring costs for severance incurred in connection with the Restructuring Plan and a $1.4 million increase in stock-based compensation expense.

General and administrative expenses increased $4.2 million for the six months ended July 31, 2025 compared to the six months ended July 31, 2024, primarily attributable to an increase of $3.8 million in personnel costs, driven by $1.1 million in  restructuring costs for severance incurred in connection with the Restructuring Plan and a $2.1 million increase in stock-based compensation expense. The increase in general and administrative expenses also included an increase of $2.3 million in restructuring costs for exit costs and asset write-offs associated with the Restructuring Plan, a $0.5 million increase in allocated overhead, and a $0.3 million increase in the fair value of contingent consideration. The increase in general and administrative spend was partially offset by a decrease of $2.9 million in third-party professional fees, mostly attributable to a decrease in acquisition related expenses and professional fees.

General and administrative headcount decreased by 6 from July 31, 2024 to July 31,