Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 160

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 8
Chunk 160
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 months ended July 31, 2025 compared to 86.0% of total revenues for the three months ended July 31, 2024, primarily due to growth in our installed base.

Subscription revenues increased $32.0 million for the six months ended July 31, 2025 compared to the six months ended July 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, 51.1% was attributable to increased revenues from existing customers as customers expanded their use and adoption of our solutions, and 48.9% was attributable to initial revenues from customers who did not contribute to subscription revenues during the six months ended July 31, 2024. Subscription revenues were 87.5% of total revenues for the six months ended July 31, 2025 compared to 86.1% of total revenues for the six months ended July 31, 2024, primarily due to growth in our installed base.

Professional Services and Other Revenues

Professional services and other revenues decreased $(0.4) million for the three months ended July 31, 2025 compared to the three months ended July 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 $0.4 million for the six months ended July 31, 2025 compared to the six months ended July 31, 2024, primarily attributable to the mix of solutions being implemented.

Cost of Revenues and Gross Margin

Three Months Ended July 31,Six Months Ended July 31,($ in thousands)2024202520242025Cost of revenues (percentage shown in comparison to related revenues):Cost of subscription revenues$33,367 29.3 %$37,992 29.1 %$65,147 29.0 %$74,117 28.9 %Cost of professional services and other revenues20,564 111.2 22,698 125.7 39,964 110.5 44,268 120.9 Total cost of revenues$53,931 40.7 $60,690 40.8 $105,111 40.4 $118,385 40.4 Gross profit$78,472 59.3 %