Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 141

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 7
Chunk 141
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 facility.

39

Other Expense, Net. Other expense, net consists primarily of foreign currency gains and losses, the majority of which is due to intercompany loans that are denominated in currencies other than the underlying functional currency of the applicable entity.

Income Tax Provision (Benefit). Income tax provision (benefit) consists of federal and state income taxes in the U.S. and income taxes in foreign jurisdictions. 

Results of Operations

The results of operations presented below should be reviewed in conjunction with the financial statements and notes included elsewhere in this Annual Report on Form 10-K. The following tables present our selected consolidated statements of operations data for fiscal 2023, 2024, and 2025 in both dollars and as a percentage of total revenues, except as noted.

Fiscal Year Ended January 31,($ in thousands, except share and per share amounts)2023202420251Revenues:Subscription revenues$344,752 $409,479 $469,168 Professional services and other revenues63,563 67,064 71,489 Total revenues408,315 476,543 540,657 Cost of revenues:Cost of subscription revenues106,265 120,861 134,932 Cost of professional services and other revenues63,341 70,609 80,937 Total cost of revenues169,606 191,470 215,869 Gross profit238,709 285,073 324,788 Operating expenses:Sales and marketing127,669 130,547 123,231 Research and development121,576 117,311 129,422 General and administrative83,477 76,727 90,266 Total operating expenses332,722 324,585 342,919 Loss from operations(94,013)(39,512)(18,131)Non-operating income (expense):Interest income403 2,567 1,761 Interest expense(2,807)(4,135)(8,763)Other expense, net(1,356)(856)(10,427)Loss before income taxes(97,773)(41,936)(35,560)Income tax provision (benefit)4,071 1,590 (2,511)Net loss(101,844)(43,526)(33,049)Net loss attributable to redeemable non-controlling interest(1,119)(1,109)(472)Adjustment attributable to redeemable non-controlling interest