Company: NCNO
Filing Date: 2025-12-03
Form Type: 10-Q
Source: 0001902733-25-000131
Chunk: 52

Company: nCino, Inc.
Filing Date: 2025-12-03
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 are classified outside of permanent equity in the Company’s unaudited condensed consolidated balance sheets. The following table summarizes the activity in the redeemable non-controlling interests for the period indicated below:Three Months Ended October 31,Nine Months Ended October 31,2024202520242025Balance, beginning of period$4,133 $10,345 $3,428 $8,286 Net loss attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest)(186)(33)(409)(31)Foreign currency translation5 6 3 — Adjustment to redeemable non-controlling interest1,286 2,109 2,205 4,100 Stock-based compensation expense(1)5 8 16 80 Balance, end of period$5,243 $12,435 $5,243 $12,435 (1) nCino K.K. stock options granted in accordance with nCino K.K.’s equity incentive plan.

Note 3. Fair Value Measurements

Financial Assets and Liabilities Measured at Fair Value on a Recurring BasisThe Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities.Level 2. Significant other inputs that are directly or indirectly observable in the marketplace.Level 3. Significant unobservable inputs which are supported by little or no market activity.The carrying amounts of cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value as of January 31, 2025 and October 31, 2025 because of the relatively short duration of these instruments. The carrying amount of any outstanding borrowings on the Company’s revolving credit facility approximates fair value due to the variable interest rates of the borrowings.The Company evaluated its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. The following table summarizes the Company’s financial assets measured at fair value as of January 31, 2025 and October 31, 2025 and indicates the fair value 

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Table of ContentsnCino, Inc.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(In thousands, except share and per share amounts and unless otherwise indicated)

hierarchy of the valuation:Fair value measurements on