Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 34

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 34
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 relationships26,500 10 yearsDeveloped technology9,400 5 yearsTotal intangible assets subject to amortization$37,000 Developed technology represents the preliminary fair value of FullCircl's technology. Customer relationships represent the preliminary fair value of the underlying relationships with FullCircl's customers. Trade names represents the preliminary fair value of FullCircl’s company name. The Company continues to assess the rates used in the preliminary valuation methods such as, but not limited to, the discount rates for developed technology, customer relationships and trade name and customer attrition rate for customer relationships.Goodwill is primarily attributable to expanded market opportunities, synergies expected from the acquisition, and assembled workforce. The goodwill is not expected to be deductible for tax. The financial results of FullCircl since the FullCircl Acquisition Date are included in the Company's consolidated financial statements and are not material to the Company. The Company has not disclosed pro-forma revenue and earnings attributable to FullCircl as they did not have a material effect on the Company’s consolidated financial statements.

Note 7. Goodwill and Intangible Assets

GoodwillThe change in the carrying amounts of goodwill was as follows:Balance, as of January 31, 2023$839,440 Translation adjustments(571)Balance, as of January 31, 2024838,869 Acquisitions186,375 Translation adjustments(5,869)Balance, as of January 31, 2025$1,019,375 

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

Intangible assetsIntangible assets, net are as follows:As of January 31, 2024As of January 31, 2025GrossAmountAccumulatedAmortizationNet CarryingAmountGrossAmountAccumulatedAmortizationNet CarryingAmountWeighted Average Remaining Useful Life (Years)Developed technology$83,468 $(38,010)$45,458 $97,029 $(49,819)$47,210 2.9Customer relationships91,704 (22,085)69,619 139,315 (33,315)106,000 8.1Trademarks and trade name14,624 (14,624)— 1,461 (615)846 0.