Company: NCNO
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001902733-25-000076
Chunk: 144

Company: nCino, Inc.
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 2
Chunk 144
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General and administrative4,682 5,353 Total stock-based compensation expense$16,205 $15,814 

The Company recognized amortization expense for intangible assets as follows:

Three Months Ended April 30,($ in thousands)20242025Cost of subscription revenues$4,118 $5,075 Cost of professional services and other revenues82 82 Sales and marketing2,482 4,032 Total amortization expense$6,682 $9,189 

Three Months Ended April 30,20242025Revenues:Subscription revenues86.2 %87.1 %Professional services and other revenues13.8 12.9 Total revenues100.0 100.0 Cost of revenues (percentage shown in comparison to related revenues):Cost of subscription revenues28.8 28.8 Cost of professional services and other revenues109.7 116.3 Total cost of revenues40.0 40.0 Gross profit60.0 60.0 Operating expenses:Sales and marketing21.9 22.9 Research and development23.4 23.1 General and administrative17.6 15.0 Total operating expenses62.9 61.0 Loss from operations(2.9)(1.0)Non-operating income (expense):Interest income0.5 0.3 Interest expense(1.2)(3.1)Other income (expense), net(0.6)11.2 Net income (loss) before income taxes(4.2)7.4 Income tax provision (benefit)(2.3)3.1 Net income (loss)(1.9)%4.3 %

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Comparison of the Three Months Ended April 30, 2024 and 2025

Revenues

Three Months Ended April 30,($ in thousands)20242025Revenues:Subscription revenues$110,406 86.2 %$125,588 87.1 %Professional services and other revenues17,681 13.8 18,549 12.9 Total revenues$128,087 100.0 %$144,137 100.0 %

Subscription Revenues

Subscription revenues increased $15.2 million for the three months ended April 30, 2025 compared to the three months ended April 30, 2024, due to initial revenues from customers