Company: NCNO
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001902733-25-000026
Chunk: 42

Company: nCino, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 8
Chunk 42
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19.7)1.3 Foreign rate differential0.5 (1.7)1.2 Other(0.2)0.2 (1.0)Stock-based compensation0.1 (1.0)(1.3)Nondeductible expenses(0.2)(1.0)(1.3)Deferred adjustments0.0 0.0 (1.5)Effects of non-US operations(0.1)(0.5)(1.6)GILTI inclusion(0.6)(6.8)(2.2)Transaction costs(0.1)0.0 (3.1)Executive compensation(2.4)(5.0)(8.2)Uncertain tax positions0.0 0.0 (15.2)(4.2)%(3.8)%7.1 %

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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)

Significant components of the Company’s net deferred tax assets and liabilities were as follows:As of January 31,20242025Deferred tax assets:Net operating losses$115,187 $118,820 Research and development39,305 48,056 Tax credits15,444 17,104 Financing obligations and lease liabilities17,343 16,591 Equity compensation9,085 11,108 Reserves and accruals3,900 4,747 Other1,613 1,587 Total deferred tax assets201,877 218,013 Less valuation allowance(148,270)(160,289)Total deferred tax assets, net of valuation allowances53,607 57,724 Deferred tax liabilities:Intangible assets(26,216)(38,429)Depreciation(15,066)(13,522)Contract acquisition costs(7,112)(9,254)Lease asset(4,453)(4,048)Deferred revenue(310)(121)Total deferred tax liabilities(53,157)(65,374)Net deferred tax liabilities$450 $(7,650)The Company’s net deferred tax liabilities were adjusted during fiscal 2025 to include $15.1 million of net deferred tax liabilities related to business combinations. Net deferred tax liabilities were included in the consolidated balance sheets as follows:As of January 31,20242025Long-term