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

Company: nCino, Inc.
Filing Date: 2025-12-03
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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 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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Cost of Subscription Revenues

Cost of subscription revenues increased $3.7 million for the three months ended October 31, 2025 compared to the three months ended October 31, 2024, generating a gross margin for subscription revenues of 71.9% and 71.8% for the three months ended October 31, 2025 and 2024, respectively. The dollar increase was primarily attributable to a $2.5 million increase in other data costs and a $0.5 million increase in costs related to Salesforce user fees as we continued to add new customers and sell additional functionality