Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 143

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 2
Chunk 143
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 Quarterly Report on Form 10-Q. The following tables present our selected unaudited condensed consolidated statements of operations data for three months ended April 30, 2024 and 2025 in both dollars and as a percentage of total revenues, except as noted.

Three Months Ended April 30,202420251($ in thousands)Revenues:Subscription revenues$110,406 $125,588 Professional services and other revenues17,681 18,549 Total revenues128,087 144,137 Cost of revenues:Cost of subscription revenues31,780 36,125 Cost of professional services and other revenues19,400 21,570 Total cost of revenues51,180 57,695 Gross profit76,907 86,442 Operating expenses:Sales and marketing28,045 32,971 Research and development29,981 33,341 General and administrative22,544 21,643 Total operating expenses80,570 87,955 Loss from operations(3,663)(1,513)Non-operating income (expense):Interest income605 417 Interest expense(1,477)(4,450)Other income (expense), net(744)16,097 Net income (loss) before income taxes(5,279)10,551 Income tax provision (benefit)(2,982)4,534 Net income (loss)(2,297)6,017 Net income (loss) attributable to redeemable non-controlling interest(165)76 Adjustment attributable to redeemable non-controlling interest844 379 Net income (loss) attributable to nCino, Inc.$(2,976)$5,562 

1Includes the operating results of DocFox, ILT, FullCircl and Sandbox Banking from the DocFox Acquisition Date, the ILT Acquisition Date, FullCircl Acquisition Date and the Sandbox Acquisition Date, respectively, see Note 6 "Business Combinations" of the notes to our consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.

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The Company recognized stock-based compensation expense as follows:

Three Months Ended April 30,($ in thousands)20242025Cost of subscription revenues$562 $664 Cost of professional services and other revenues2,779 2,754 Sales and marketing3,956 2,928 Research and development4,226 4,115