Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 63

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1
Chunk 63
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 and nCino subject matter experts through various discussion groups, suggest and vote for future product development ideas, and access training videos, materials and product certifications.

Research and Development

Our research and development organization is responsible for the design, development, engineering, and testing of our solutions. 

We utilize industry best practices, such as continuous integration/continuous deployment, automated testing and distributed version control, to develop new functionality and enhance our existing solutions. We provide opportunities for innovation through hackathons and new technology pilots, and we encourage customers to participate in our Product Design Programs to provide us with input on our product development roadmap. Our research and development spend was $129.4 million or 23.9% of total revenues in fiscal 2025.

Competition

Historically, the primary competition for the nCino Platform has been point solution vendors and systems developed internally by FIs. We believe our ability to provide client onboarding, loan origination, deposit account opening, analytics, portfolio management, and AI on a platform across lines of business, our deep banking domain expertise, our mortgage suite, our reputation for high-quality professional services and customer support, and our strong company culture, distinguish us from our competition. We believe our success in growing our business will depend on our ability to demonstrate to FIs that our solutions provide superior business outcomes and value to those of competitors or internally developed systems. In this regard, we are likely to be assessed on a number of factors, including:

•breadth and depth of functionality;

•ease of deployment, implementation and use;

•total cost of ownership and return on investment;

•level of customer satisfaction;

•brand awareness and reputation;

•cloud-based technology platform, availability of AI capabilities, and pricing model;

•quality of implementation and customer support services;

•capability for configurability, integration, and scalability;

•domain expertise in banking technology;

•security and reliability;

•ability of our solutions to support compliance with legal and regulatory requirements;

•ability to innovate and respond to customer needs quickly;

•ability to provide data connectivity and integrate with third-party applications and systems; and

5

•insights and benchmarking derived from the cross-institution data and transactions that flow through our platform.

We believe we compete favorably with respect to these factors, but we expect competition to increase as existing competitors evolve their offerings and as new companies enter the market. Our ability to remain competitive will depend on our ongoing efforts in research and development, sales and marketing, professional services, customer support, and our business operations generally