Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 99

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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 Stock Purchase Plan ("ESPP") began on July 1, 2021 and ended on December 31, 2021. Thereafter, offering periods begin each year on January 1 and July 1.The fair value of ESPP shares during the three months ended April 30, 2024 and 2025 was estimated at the date of grant using the Black-Scholes option valuation model based on assumptions as follows for ESPP awards: Three Months Ended April 30,20242025Expected life (in years)0.500.50Expected volatility38.70%40.74%Expected dividends0.00%0.00%Risk-free interest rate5.24%4.25%

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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)

Stock-Based Compensation ExpenseTotal stock-based compensation expense included in our unaudited condensed consolidated statements of operations were as follows:Three Months Ended April 30,20242025Cost 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 General and administrative4,682 5,353 Total stock-based compensation expense$16,205 $15,814 

Note 9. Leases

Operating LeasesThe Company leases its facilities and a portion of its equipment under various non-cancellable agreements, which expire at various times through December 2033, some of which include options to extend for up to five years.The components of lease expense were as follows:Three Months Ended April 30,20242025Operating lease expense$1,334 $1,410 Variable lease expense623 642 Short-term lease expense90 52 Sublease income$— $(87)Total lease expense$2,047 $2,017 Supplemental cash flow information related to operating leases were as follows:Three Months Ended April 30,20242025Cash paid for amounts included in the measurement of operating lease liabilities$1,087 $1,584 Operating right-of-use assets obtained in exchange for operating lease liabilities705 — Operating right-of-use assets and operating lease liabilities disposed of1,947 — The weighted-average remaining lease term and weighted-average discount rate for the Company's operating lease liabilities