Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 85

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 duration of these instruments. The carrying amount of any outstanding borrowings on the Company's revolving credit facility approximates fair value due to the variable interest rates of the borrowings.The Company evaluated its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. The following table summarizes the Company’s financial assets measured at fair value as of January 31, 2025 and April 30, 2025 and indicates the fair value hierarchy of the valuation:Fair value measurements on a recurring basis as of January 31, 2025Level 1Level 2Level 3Assets:Money market accounts (included in cash and cash equivalents)$38,841 $— $— Time deposits (included in long-term prepaid expenses and other assets)339 — — Total assets$39,180 $— $— 

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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)

Fair value measurements on a recurring basis as of April 30, 2025Level 1Level 2Level 3Assets:Money market accounts (included in cash and cash equivalents)$49,979 $— $— Time deposits (included in long-term prepaid expenses and other assets)350 — — Total assets$50,329 $— $— Liabilities:Contingent consideration (included in accrued expenses and other current liabilities)$— $— $8,300 Total liabilities$— $— $8,300 All of the Company’s money market accounts are classified within Level 1 because the Company’s money market accounts are valued using quoted market prices in active exchange markets including identical assets.The following table summarizes the change in fair value of the contingent consideration with significant unobservable inputs:Three Months Ended April 30,20242025Balance, beginning of period$— $— Contingent consideration in connection with business acquisition— 8,100 Changes in fair value — 200 Balance, end of period$— $8,300 The contingent consideration consists of the potential earn-out payment related to the Company's acquisition of Alphapack, Co. dba Sandbox Banking ("Sandbox Banking") on February 7