Company: NCNO
Filing Date: 2025-12-03
Form Type: 10-Q
Source: 0001902733-25-000131
Chunk: 163

Company: nCino, Inc.
Filing Date: 2025-12-03
Form: 10-Q
Item: Part I, Item 8
Chunk 163
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4, primarily due to growth in our installed base.

Subscription revenues increased $45.5 million for the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024, primarily attributable 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, 57.7% was attributable to increased revenues from existing customers as customers expanded their use and adoption of our solutions, and 42.3% was attributable to initial revenues from customers who did not contribute to subscription revenues during the nine months ended October 31, 2024. Subscription revenues were 87.6% of total revenues for the nine months ended October 31, 2025 compared to 86.2% of total revenues for the nine months ended October 31, 2024, primarily due to growth in our installed base.

Professional Services and Other Revenues

Professional services and other revenues decreased $0.2 million for the three months ended October 31, 2025 compared to the three months ended October 31, 2024, primarily attributable to the mix of solutions being implemented and certain markets yielding lower effective bill rates.

Professional services and other revenues increased $0.3 million for the nine months ended October 31, 2025 compared to the nine months ended October 31, 2024, primarily attributable to the mix of solutions being implemented.

Cost of Revenues and Gross Margin

Three Months Ended October 31,Nine Months Ended October 31,($ in thousands)2024202520242025Cost of revenues (percentage shown in comparison to related revenues):Cost of subscription revenues$33,769 28.2 %$37,426 28.1 %$98,916 28.7 %$111,543 28.6 %Cost of professional services and other revenues19,976 105.7 21,051 112.3 59,940 108.8 65,319 118.0 Total cost of revenues$53,745 38.7 $58,477 38.4 $158,856 39.8 $176,862 39.7 Gross profit$85,052 61.3 %$93,686 61.6 %$240,431 60.2 %$268,253 60.3 %

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