Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 171

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 8
Chunk 171
---
 million, excluding transaction costs and excise 

43

tax associated with the repurchases, if any. As of July 31, 2025, $39.5 million remained available for future repurchases under the share repurchase program. See Note 8 "Stockholders' Equity" of the notes to our unaudited condensed consolidated financial statements included in Part I, Item I of this Quarterly Report on Form 10-Q for more information.

nCino K.K.

In fiscal 2020, we established nCino K.K., a Japanese company in which we own a controlling interest, for purposes of facilitating our entry into the Japanese market. We have consolidated the results of operations and financial condition of nCino K.K. since its inception. Pursuant to an agreement with the holders of the non-controlling interest in nCino K.K., beginning in 2027 we may redeem the non-controlling interest, or be required to redeem such interest by the holders thereof, based on a prescribed formula derived from the relative revenues of nCino K.K. and the Company. The balance of the redeemable non-controlling interest is reported on our balance sheet below total liabilities but above stockholders’ equity at the greater of the initial carrying amount adjusted for the redeemable non-controlling interest’s share of earnings or losses and other comprehensive income or loss, or its estimated redemption value. As of January 31, 2025 and July 31, 2025, the redeemable non-controlling interest was $8.3 million and $10.3 million, respectively.

As part of our joint venture obligations, we made an additional cash capital contribution of $1.0 million to nCino K.K. during the third quarter of fiscal 2024.

Cash Flows

Summary Cash Flow information for the six months ended July 31, 2024 and 2025 are set forth below:

Six Months Ended July 31,($ in thousands)20242025Net cash provided by operating activities$59,441 $72,056 Net cash used in investing activities(91,925)(53,445)Net cash provided by (used in) financing activities43,159 (20,184)

Net Cash Provided by Operating Activities

The $72.1 million provided by operating activities in the six months ended July 31, 2025 reflects our net loss of $7.7 million, offset by $54.7 million in net non-cash charges and $25.0