Company: NCNO
Filing Date: 2025-08-26
Form Type: 10-Q
Source: 0001902733-25-000106
Chunk: 71

Company: nCino, Inc.
Filing Date: 2025-08-26
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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25Expected life (in years)0.500.50Expected volatility38.70% - 38.91%40.74% - 46.91%Expected dividends0.00%0.00%Risk-free interest rate5.24% - 5.37%4.25% - 4.29%

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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)

Stock-Based Compensation ExpenseTotal stock-based compensation expense included in our unaudited condensed consolidated statements of operations were as follows:Three Months Ended July 31,Six Months Ended July 31,2024202520242025Cost of subscription revenues$793 $830 $1,355 $1,494 Cost of professional services and other revenues2,980 3,315 5,759 6,069 Sales and marketing4,184 3,746 8,140 6,674 Research and development5,286 3,685 9,512 7,800 General and administrative5,596 7,040 10,278 12,393 Total stock-based compensation expense$18,839 $18,616 $35,044 $34,430 

Note 9. Leases

Operating LeasesThe Company leases its facilities and a portion of its equipment under various non-cancellable agreements, which expire at various times through December 2033, some of which include options to extend for up to one year. See Note 15 "Restructuring" regarding lease terminations in connection with the Restructuring Plan.The components of lease expense were as follows:Three Months Ended July 31,Six Months Ended July 31,2024202520242025Operating lease expense$1,392 $1,412 $2,726 $2,822 Variable lease expense647 653 1,270 1,295 Short-term lease expense58 75 148 127 Sublease income— (87)— (174)Total lease expense$2,097 $2,053 $4,144 $4,070 Supplemental cash flow information related to operating leases were as follows:Six Months Ended July 31,20242025Cash paid for amounts included in the measurement of operating lease liabilities$2,212 $3,155