Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 28

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 28
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 months, and the remainder thereafter.Costs Capitalized to Obtain Revenue ContractsDuring the fiscal years ended January 31, 2023, 2024, and 2025, the Company amortized $8.5 million, $9.9 million, and $12.0 million of capitalized contract acquisition costs within sales and marketing expense, respectively. The Company did not incur any impairment losses.Capitalized contract acquisition costs were $28.0 million and $37.2 million as of January 31, 2024 and January 31, 2025, of which $17.4 million and $23.7 million was long-term in the consolidated balance sheets, respectively. The remaining balance of the capitalized costs to obtain contracts was current.

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Table of ContentsnCino, Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(In thousands, except share and per share amounts and unless otherwise indicated)

Note 5. Property and Equipment

Property and equipment, net consisted of the following:As of January 31,20242025Furniture and fixtures$12,066 $11,712 Computers and equipment8,010 7,193 Buildings and land56,379 56,379 Leasehold improvements27,712 28,046 Construction in progress170 627 104,337 103,957 Less accumulated depreciation(25,192)(29,004)$79,145 $74,953 The Company recognized depreciation expense as follows:Fiscal Year Ended January 31,202320242025Cost of subscription revenues$399 $567 $480 Cost of professional services and other revenues1,301 1,775 1,313 Sales and marketing1,452 1,734 1,291 Research and development2,435 2,819 2,399 General and administrative865 1,143 769 Total depreciation expense$6,452 $8,038 $6,252 

Note 6. Business Combinations

DocFox, Inc. (“DocFox”)On March 20, 2024 (the "DocFox Acquisition Date"), the Company acquired the outstanding equity interests of DocFox, which provides a solution to automate onboarding experiences for commercial and business banking. The Company acquired DocFox for its complementary product set, which helps simplify and automate the onboarding and account opening process. The Company has included the financial results of DocFox in the consolidated statements of operations from