Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 63

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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4.2)7.4 Income tax provision (benefit)(2.3)3.1 Net income (loss)(1.9)%4.3 %

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Comparison of the Three Months Ended April 30, 2024 and 2025

Revenues

Three Months Ended April 30,($ in thousands)20242025Revenues:Subscription revenues$110,406 86.2 %$125,588 87.1 %Professional services and other revenues17,681 13.8 18,549 12.9 Total revenues$128,087 100.0 %$144,137 100.0 %

Subscription Revenues

Subscription revenues increased $15.2 million for the three months ended April 30, 2025 compared to the three months ended April 30, 2024, due to initial revenues from customers who did not contribute to subscription revenues during the prior period, and growth from existing customers within and across lines of business. Of the increase, 53.0% was attributable to initial revenues from customers who did not contribute to subscription revenues during the three months ended April 30, 2024 and 47.0% was attributable to increased revenues from existing customers as customers expanded their use and adoption of our solutions. Subscription revenues were 87.1% of total revenues for the three months ended April 30, 2025 compared to 86.2% of total revenues for the three months ended April 30, 2024, primarily due to growth in our installed base.

Professional Services and Other Revenues

Professional services and other revenues increased $0.9 million for the three months ended April 30, 2025 compared to the three months ended April 30, 2024, primarily due to the addition of new customers as well as expanded adoption by existing customers within and across lines of business where implementation, configuration, and training services were required.

Cost of Revenues and Gross Margin

Three Months Ended April 30,($ in thousands)20242025Cost of revenues (percentage shown in comparison to related revenues):Cost of subscription revenues$31,780 28.8 %$36,125 28.8 %Cost of professional services and other revenues19,400 109.7 21,570 116.3 Total cost of revenues$51,180 40.0 $57,695 40.0 Gross profit$76,907