Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 143

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 7
Chunk 143
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Total cost of revenues41.5 40.2 39.9 Gross profit58.5 59.8 60.1 Operating expenses:Sales and marketing31.3 27.4 22.8 Research and development29.8 24.6 23.9 General and administrative20.4 16.1 16.7 Total operating expenses81.5 68.1 63.4 Loss from operations(23.0)(8.3)(3.3)Non-operating income (expense):Interest income0.1 0.5 0.3 Interest expense(0.7)(0.9)(1.6)Other expense, net(0.3)(0.2)(1.9)Loss before income taxes(23.9)(8.9)(6.5)Income tax provision (benefit)1.0 0.3 (0.5)Net loss(24.9)%(9.2)%(6.0)%

41

Comparison of the Fiscal Years Ended January 31, 2024 and 2025

Revenues

Fiscal Year Ended January 31,($ in thousands)20242025Revenues:Subscription revenues$409,479 85.9 %$469,168 86.8 %Professional services and other revenues67,064 14.1 71,489 13.2 Total revenues$476,543 100.0 %$540,657 100.0 %

Subscription Revenues

Subscription revenues increased $59.7 million for fiscal 2025 compared to fiscal 2024, due to initial revenues from customers who did not contribute to subscription revenues during the prior period, growth from existing customers within and across lines of business, and acquisitions. Of the increase, 70.6% was attributable to increased revenues from existing customers as additional seats were activated in accordance with contractual terms and customers expanded their adoption of our solutions, and 29.4% was attributable to initial revenues from customers who did not contribute to subscription revenues during the prior period. Subscription revenues were 86.8% of total revenues for fiscal 2025 compared to 85.9% of total revenues for fiscal 2024, primarily due to growth in our installed base.

Professional Services and Other Revenues

Professional services and other revenues increased $4.4 million for fiscal 2025 compared to fiscal 2024,