Latest news with #Platform
Business Standard
2 days ago
- Business
- Business Standard
Firstsource Launches Gigsourcing Platform to Transform the Future of Work
PRNewswire Mumbai (Maharashtra) [India], May 30: Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), a leading global provider of transformational solutions and services and an RP-Sanjiv Goenka Group company, has announced the launch of the Firstsource Gigsourcing Platform, a next-generation crowdsourcing solution designed to revolutionize how enterprises leverage the gig economy. Part of the Firstsource relAI™ suite of AI-powered solutions, the Gigsourcing Platform connects businesses with skilled, on-demand global talent. It enables cost-effective, flexible, and scalable workforce models--helping organizations streamline talent management, boost operational efficiency, and stay competitive by addressing challenges in gig worker acquisition, management, and coordination. Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource, shared, "The Firstsource Gigsourcing Platform marks a pivotal milestone in our UnBPO™ journey, reimagining how enterprises operate and scale. As work becomes more decentralized and digital, our ability to blend AI-powered virtual agents, domain expertise, and a global freelance talent pool, empowers clients to move faster and smarter. This isn't just about workforce flexibility--it's about creating an entirely new operating model. We're committed to driving non-linear growth and measurable transformation for our clients, and this platform is a core enabler of that mission." The platform offers an intuitive experience for both, enterprises and independent professionals: * For businesses, the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. * For gig workers, it offers seamless registration, project discovery, and automated payments, delivering a frictionless and rewarding work experience. Hasit Trivedi, Chief Digital & AI Officer at Firstsource, added, "The Firstsource Gigsourcing Platform represents the convergence of AI, digital platforms, and workforce innovation. It goes beyond just connecting businesses with gig workers - we are building a digitally intelligent, hyper-agile ecosystem. AI-led matching, workflow orchestration, and secure integrations make it a robust sourcing engine. This platform will fundamentally reshape how work is disaggregated, how sourcing is diversified, and how scale and precision are delivered. We see gig sourcing becoming a critical pillar of enterprise transformation - redefining workforce agility in the AI era and building the future of work." The Firstsource Gigsourcing Platform delivers unparalleled benefits with functionalities like: * Compliance-first onboarding: alignment with regional regulations and standards. * Comprehensive Control: efficient management of user groups roles, access, and notifications. * Qualification Tests: qualified freelancers selected with pre-requisite tests. * Gig worker Onboarding: simplified freelancer integration, including from external partners. * Third-Party Integration: single sign-On (SSO) enabled for streamlined operations. * Effortless Payments: hassle-free payment processes for gig workers. Additionally, the platform's SaaS capabilities provide: * Private Instance: enabling organizations to create their own exclusive freelancer crowd. * Insourcing Flexibility: facilitates internal resource allocation within the organization. This launch follows Firstsource's recent introduction of Agentic AI Studio, reinforcing Firstsource's commitment to transforming the future of work through innovation. Together, the Gig Sourcing Platform and Agentic AI Studio form a comprehensive foundation to reimagine how work is sourced, executed, and scaled. About Firstsource Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: (Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ - our differentiated approach to reimagining traditional outsourcing - to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients.
Business Upturn
2 days ago
- Business
- Business Upturn
Firstsource Launches Gigsourcing Platform to Transform the Future of Work
By PR Newswire Published on May 29, 2025, 18:09 IST MUMBAI, India , May 29, 2025 /PRNewswire/ — Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), a leading global provider of transformational solutions and services and an RP-Sanjiv Goenka Group company, has announced the launch of the Firstsource Gigsourcing Platform, a next-generation crowdsourcing solution designed to revolutionize how enterprises leverage the gig economy. Part of the Firstsource relAI™ suite of AI-powered solutions, the Gigsourcing Platform connects businesses with skilled, on-demand global talent. It enables cost-effective, flexible, and scalable workforce models—helping organizations streamline talent management, boost operational efficiency, and stay competitive by addressing challenges in gig worker acquisition, management, and coordination. Ritesh Idnani , Managing Director & Chief Executive Officer at Firstsource, shared, 'The Firstsource Gigsourcing Platform marks a pivotal milestone in our UnBPO™ journey, reimagining how enterprises operate and scale. As work becomes more decentralized and digital, our ability to blend AI-powered virtual agents, domain expertise, and a global freelance talent pool, empowers clients to move faster and smarter. This isn't just about workforce flexibility—it's about creating an entirely new operating model. We're committed to driving non-linear growth and measurable transformation for our clients, and this platform is a core enabler of that mission.' The platform offers an intuitive experience for both, enterprises and independent professionals: For businesses , the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. , the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. For gig workers, it offers seamless registration, project discovery, and automated payments, delivering a frictionless and rewarding work experience. Hasit Trivedi , Chief Digital & AI Officer at Firstsource, added, 'The Firstsource Gigsourcing Platform represents the convergence of AI, digital platforms, and workforce innovation. It goes beyond just connecting businesses with gig workers – we are building a digitally intelligent, hyper-agile ecosystem. AI-led matching, workflow orchestration, and secure integrations make it a robust sourcing engine. This platform will fundamentally reshape how work is disaggregated, how sourcing is diversified, and how scale and precision are delivered. We see gig sourcing becoming a critical pillar of enterprise transformation – redefining workforce agility in the AI era and building the future of work.' The Firstsource Gigsourcing Platform delivers unparalleled benefits with functionalities like: Compliance-first onboarding: alignment with regional regulations and standards. alignment with regional regulations and standards. Comprehensive Control: efficient management of user groups roles, access, and notifications. efficient management of user groups roles, access, and notifications. Qualification Tests: qualified freelancers selected with pre-requisite tests. qualified freelancers selected with pre-requisite tests. Gig worker Onboarding: simplified freelancer integration, including from external partners. simplified freelancer integration, including from external partners. Third-Party Integration: single sign-On (SSO) enabled for streamlined operations. single sign-On (SSO) enabled for streamlined operations. Effortless Payments: hassle-free payment processes for gig workers. Additionally, the platform's SaaS capabilities provide: Private Instance: enabling organizations to create their own exclusive freelancer crowd. enabling organizations to create their own exclusive freelancer crowd. Insourcing Flexibility: facilitates internal resource allocation within the organization. This launch follows Firstsource's recent introduction of Agentic AI Studio, reinforcing Firstsource's commitment to transforming the future of work through innovation. Together, the Gig Sourcing Platform and Agentic AI Studio form a comprehensive foundation to reimagine how work is sourced, executed, and scaled. About Firstsource Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: (Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India , Philippines , Mexico , Romania , Turkey , Trinidad & Tobago , South Africa , and Australia , we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ – our differentiated approach to reimagining traditional outsourcing – to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients. ( Logo: View original content: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same. PR Newswire is a distributor of press releases headquartered in New York City.
Cision Canada
2 days ago
- Business
- Cision Canada
Firstsource Launches Gigsourcing Platform to Transform the Future of Work
MUMBAI, India, May 29, 2025 /CNW/ -- Firstsource Solutions Limited (NSE: FSL) (BSE: 532809), a leading global provider of transformational solutions and services and an RP-Sanjiv Goenka Group company, has announced the launch of the Firstsource Gigsourcing Platform, a next-generation crowdsourcing solution designed to revolutionize how enterprises leverage the gig economy. Part of the Firstsource relAI™ suite of AI-powered solutions, the Gigsourcing Platform connects businesses with skilled, on-demand global talent. It enables cost-effective, flexible, and scalable workforce models—helping organizations streamline talent management, boost operational efficiency, and stay competitive by addressing challenges in gig worker acquisition, management, and coordination. Ritesh Idnani, Managing Director & Chief Executive Officer at Firstsource, shared, "The Firstsource Gigsourcing Platform marks a pivotal milestone in our Un BPO™ journey, reimagining how enterprises operate and scale. As work becomes more decentralized and digital, our ability to blend AI-powered virtual agents, domain expertise, and a global freelance talent pool, empowers clients to move faster and smarter. This isn't just about workforce flexibility—it's about creating an entirely new operating model. We're committed to driving non-linear growth and measurable transformation for our clients, and this platform is a core enabler of that mission." The platform offers an intuitive experience for both, enterprises and independent professionals: For businesses, the platform streamlines project creation, gig worker onboarding, and performance tracking, ensuring scalable execution and superior outcomes. For gig workers, it offers seamless registration, project discovery, and automated payments, delivering a frictionless and rewarding work experience. Hasit Trivedi, Chief Digital & AI Officer at Firstsource, added, "The Firstsource Gigsourcing Platform represents the convergence of AI, digital platforms, and workforce innovation. It goes beyond just connecting businesses with gig workers - we are building a digitally intelligent, hyper-agile ecosystem. AI-led matching, workflow orchestration, and secure integrations make it a robust sourcing engine. This platform will fundamentally reshape how work is disaggregated, how sourcing is diversified, and how scale and precision are delivered. We see gig sourcing becoming a critical pillar of enterprise transformation - redefining workforce agility in the AI era and building the future of work." The Firstsource Gigsourcing Platform delivers unparalleled benefits with functionalities like: Compliance-first onboarding: alignment with regional regulations and standards. Comprehensive Control: efficient management of user groups roles, access, and notifications. Qualification Tests: qualified freelancers selected with pre-requisite tests. Gig worker Onboarding: simplified freelancer integration, including from external partners. Third-Party Integration: single sign-On (SSO) enabled for streamlined operations. Effortless Payments: hassle-free payment processes for gig workers. Additionally, the platform's SaaS capabilities provide: Private Instance: enabling organizations to create their own exclusive freelancer crowd. Insourcing Flexibility: facilitates internal resource allocation within the organization. This launch follows Firstsource's recent introduction of Agentic AI Studio, reinforcing Firstsource's commitment to transforming the future of work through innovation. Together, the Gig Sourcing Platform and Agentic AI Studio form a comprehensive foundation to reimagine how work is sourced, executed, and scaled. About Firstsource Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company (NSE: FSL) (BSE: 532809) (Reuters: (Bloomberg: FSOL:IN), is a global leader providing transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, Retail, and other diverse industries. With a global footprint across US, UK, India, Philippines, Mexico, Romania, Turkey, Trinidad & Tobago, South Africa, and Australia, we 'make it happen' for our clients, solving their biggest challenges with hyper-focused, domain-centered teams and cutting-edge tech, data, and analytics. Our inch-wide, mile-deep practitioners work collaboratively, leveraging UnBPO™ - our differentiated approach to reimagining traditional outsourcing - to deliver real-world, future-focused solutions that drive speed, scale, and smarter decision, turning transformation into tangible results for our clients.
Hamilton Spectator
3 days ago
- Business
- Hamilton Spectator
nCino Reports First Quarter Fiscal Year 2026 Financial Results
• Total Revenues of $144.1M , up 13% year-over-year • Subscription Revenues of $125.6M , up 14% year-over-year WILMINGTON, N.C., May 28, 2025 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), the leading provider of intelligent, best-in-class banking solutions, today announced financial results for the first quarter of fiscal year 2026, ended April 30, 2025. 'Strong execution drove financial results above guidance, underscoring our ability to deliver value for shareholders and customers,' said Sean Desmond, CEO at nCino. 'We're fulfilling our commitments and advancing key platform capabilities across commercial, consumer, and mortgage solutions, while enhancing onboarding and omnichannel experiences. At the same time, we're accelerating our AI strategy to reimagine key banking workflows and seamlessly embedding intelligence across the entire nCino Platform to deliver more intuitive and engaging customer experiences.' Financial Highlights Recent Business Highlights Financial Outlook nCino is providing guidance for its second quarter ending July 31, 2025, as follows: nCino is providing guidance for its fiscal year 2026 ending January 31, 2026, as follows: Conference Call nCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook. The conference call will be available via live webcast and replay at the Investor Relations section of nCino's website: . About nCino nCino (NASDAQ: NCNO) is powering a new era in financial services. The Company was founded to help financial institutions digitize and reengineer business processes to boost efficiencies and create better banking experiences. With over 2,700 customers worldwide - including community banks, credit unions, independent mortgage banks, and the largest financial entities globally - nCino offers a trusted platform of best-in-class, intelligent solutions. By integrating artificial intelligence and actionable insights into its platform, nCino is helping financial institutions consolidate legacy systems to enhance strategic decision-making, improve risk management, and elevate customer satisfaction by cohesively bringing together people, AI and data. For more information, visit . INVESTOR CONTACT Harrison Masters MEDIA CONTACT Natalia Moose press@ Forward-Looking Statements: This press release contains forward-looking statements about nCino's financial and operating results, which include statements regarding nCino's future performance, outlook, guidance, the benefits from the use of nCino's solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words 'believes,' 'expects,' 'intends,' 'anticipates,' 'plans,' 'seeks,' 'estimates,' 'projects,' 'may,' 'will,' 'could,' 'might,' or 'continues' or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino's historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino's expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with acquisitions we undertake, (iv) breaches in our security measures or unauthorized access to our customers' or their clients' data; (v) the accuracy of management's assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution, including in connection with our migration to an asset-based pricing model; (vii) competitive factors, including pricing pressures and migration to asset-based pricing, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (viii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses. Non-GAAP Financial Measures In nCino's public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures. There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino's management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below. 1Columns may not foot due to rounding. 2Effective the beginning of our first quarter for fiscal year 2026, we are excluding intercompany foreign currency exchange gains and losses from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity. Prior period amounts have been recast to reflect this change. 3Income tax adjustments for prior periods have been recast related to excluding intercompany foreign currency exchange gains and losses related to intercompany loans and transactions from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity as stated in the note above. 4These amounts represent the non-interest component of payments towards financing obligations for facilities.
Yahoo
3 days ago
- Business
- Yahoo
nCino Reports First Quarter Fiscal Year 2026 Financial Results
• Total Revenues of $144.1M, up 13% year-over-year• Subscription Revenues of $125.6M, up 14% year-over-year WILMINGTON, N.C., May 28, 2025 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), the leading provider of intelligent, best-in-class banking solutions, today announced financial results for the first quarter of fiscal year 2026, ended April 30, 2025. "Strong execution drove financial results above guidance, underscoring our ability to deliver value for shareholders and customers," said Sean Desmond, CEO at nCino. "We're fulfilling our commitments and advancing key platform capabilities across commercial, consumer, and mortgage solutions, while enhancing onboarding and omnichannel experiences. At the same time, we're accelerating our AI strategy to reimagine key banking workflows and seamlessly embedding intelligence across the entire nCino Platform to deliver more intuitive and engaging customer experiences." Financial Highlights Revenues: Total revenues for the first quarter of fiscal 2026 were $144.1 million, a 13% increase from $128.1 million in the first quarter of fiscal 2025. Subscription revenues for the first quarter were $125.6 million, up from $110.4 million one year ago, an increase of 14%. Income (Loss) from Operations: GAAP loss from operations in the first quarter of fiscal 2026 was $(1.5) million compared to $(3.7) million in the same quarter of fiscal 2025. Non-GAAP operating income in the first quarter of fiscal 2026 was $24.8 million compared to $24.4 million in the first quarter of fiscal 2025, an increase of 2%. Net Income (Loss) Attributable to nCino: GAAP net income (loss) attributable to nCino in the first quarter of fiscal 2026 was $5.6 million compared to $(3.0) million in the first quarter of fiscal 2025. Non-GAAP net income attributable to nCino in the first quarter of fiscal 2026 was $18.4 million compared to $22.8 million in the first quarter of fiscal 2025. Net Income (Loss) Attributable to nCino per Share: GAAP net income (loss) attributable to nCino in the first quarter of fiscal 2026 was $0.05 per basic and diluted share compared to $(0.03) per basic and diluted share in the first quarter of fiscal 2025. Non-GAAP net income attributable to nCino in the first quarter was $0.16 per diluted share compared to $0.20 per diluted share in the first quarter of fiscal 2025. Cash: Cash, cash equivalents, and restricted cash were $133.6 million as of April 30, 2025 and $208.5 million was outstanding under nCino's revolving credit facility. In the first quarter ended April 30, 2025, nCino repurchased approximately 1.8 million shares of the Company's outstanding common stock at an average share price of $22.17 for total consideration of $40.6 million. Recent Business Highlights Signed a multi-solution expansion agreement with a $25 billion AUM bank in the U.S.: A regional bank in the U.S. doubled its annual commitment to nCino with an expansion agreement for Consumer Lending and U.S. Mortgage, accompanying a five-year renewal. Completed rollout of a top-5 bank in the U.S.: A top-5 bank in the U.S. completed its rollout of nCino Commercial Lending, bringing all of its commercial and business lending onto the nCino Platform. Selected by San ju San Bank for mortgage lending: A regional Japanese bank based in Yokkaichi City will use nCino to digitize its mortgage lending processes with the aim of improving employee efficiency and shortening loan cycle times. Benefited from expansion opportunities brought about by customer M&A: Signed expansion agreements with a top-50 bank in the U.S. and a top-10 Canadian bank following respective customers' completed acquisitions. Hosted nSight 2025: Welcomed over 1,600 attendees to annual conference, nSight, where the Company unveiled its latest product enhancements leveraging advanced AI to tackle key challenges in financial services, including operations analytics, smarter risk management, personalized customer experiences, and streamlined compliance processes. Established the nCino Research Institute (nRI): At nSight, the Company also launched the nCino Research Institute (nRI), an initiative designed to offer economic trends analysis and banking benchmark data and analysis to help nCino's customers excel in an unpredictable economic landscape. By leveraging the data within the nCino Platform and interpreting global economic indicators, the nRI delivers unique insights on banking performance and innovation, with actionable guidance to drive strategy and growth. Financial Outlook nCino is providing guidance for its second quarter ending July 31, 2025, as follows: Total revenues between $142.0 million and $144.0 million. Subscription revenues between $124.5 million and $126.5 million. Non-GAAP operating income between $23.5 million and $24.5 million. Non-GAAP net income attributable to nCino per diluted share of $0.13 to $0.14. nCino is providing guidance for its fiscal year 2026 ending January 31, 2026, as follows: Total revenues between $578.5 million and $582.5 million. Subscription revenues between $507.0 million and $511.0 million. Non-GAAP operating income between $112.0 million and $116.0 million. Non-GAAP net income attributable to nCino per diluted share of $0.69 to $0.72. Annual Contract Value (ACV) between $564.0 million and $567.0 million. Conference CallnCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook. The conference call will be available via live webcast and replay at the Investor Relations section of nCino's website: About nCinonCino (NASDAQ: NCNO) is powering a new era in financial services. The Company was founded to help financial institutions digitize and reengineer business processes to boost efficiencies and create better banking experiences. With over 2,700 customers worldwide - including community banks, credit unions, independent mortgage banks, and the largest financial entities globally - nCino offers a trusted platform of best-in-class, intelligent solutions. By integrating artificial intelligence and actionable insights into its platform, nCino is helping financial institutions consolidate legacy systems to enhance strategic decision-making, improve risk management, and elevate customer satisfaction by cohesively bringing together people, AI and data. For more information, visit INVESTOR CONTACT Harrison Masters MEDIA CONTACT Natalia Moose press@ Forward-Looking Statements: This press release contains forward-looking statements about nCino's financial and operating results, which include statements regarding nCino's future performance, outlook, guidance, the benefits from the use of nCino's solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words 'believes,' 'expects,' 'intends,' 'anticipates,' 'plans,' 'seeks,' 'estimates,' 'projects,' 'may,' 'will,' 'could,' 'might,' or 'continues' or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino's historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino's expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with acquisitions we undertake, (iv) breaches in our security measures or unauthorized access to our customers' or their clients' data; (v) the accuracy of management's assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution, including in connection with our migration to an asset-based pricing model; (vii) competitive factors, including pricing pressures and migration to asset-based pricing, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (viii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses. nCino, CONSOLIDATED BALANCE SHEETS(In thousands)(Unaudited) January 31, 2025 April 30, 2025 Assets Current assets Cash and cash equivalents $ 120,928 $ 133,230 Accounts receivable, net 146,787 104,417 Costs capitalized to obtain revenue contracts, current portion, net 13,462 13,928 Prepaid expenses and other current assets 21,072 22,109 Total current assets 302,249 273,684 Property and equipment, net 74,953 77,293 Operating lease right-of-use assets, net 16,026 15,560 Costs capitalized to obtain revenue contracts, noncurrent, net 23,735 23,233 Goodwill 1,019,375 1,080,657 Intangible assets, net 154,571 161,316 Investments 9,294 7,262 Long-term prepaid expenses and other assets 10,178 11,937 Total assets $ 1,610,381 $ 1,650,942 Liabilities, redeemable non-controlling interest, and stockholders' equity Current liabilities Accounts payable $ 13,640 $ 15,101 Accrued expenses and other current liabilities 39,865 35,185 Deferred revenue, current portion 191,174 203,659 Financing obligations, current portion 1,680 1,729 Operating lease liabilities, current portion 5,153 5,068 Total current liabilities 251,512 260,742 Operating lease liabilities, noncurrent 12,819 12,338 Deferred income taxes, noncurrent 13,851 20,718 Deferred revenue, noncurrent 269 277 Revolving credit facility, noncurrent 166,000 208,500 Financing obligations, noncurrent 51,172 50,713 Other long-term liabilities 17,160 16,707 Total liabilities 512,783 569,995 Commitments and contingencies Redeemable non-controlling interest 8,286 8,729 Stockholders' equity Common stock 58 59 Treasury stock, at cost — (40,588 ) Additional paid-in capital 1,474,413 1,490,590 Accumulated other comprehensive income 176 1,551 Accumulated deficit (385,335 ) (379,394 ) Total stockholders' equity 1,089,312 1,072,218 Total liabilities, redeemable non-controlling interest, and stockholders' equity $ 1,610,381 $ 1,650,942 nCino, CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except share and per share data)(Unaudited) Three Months Ended April 30, 2024 2025 Revenues Subscription $ 110,406 $ 125,588 Professional services and other 17,681 18,549 Total revenues 128,087 144,137 Cost of revenues Subscription 31,780 36,125 Professional services and other 19,400 21,570 Total cost of revenues 51,180 57,695 Gross profit 76,907 86,442 Gross margin % 60 % 60 % Operating expenses Sales and marketing 28,045 32,971 Research and development 29,981 33,341 General and administrative 22,544 21,643 Total operating expenses 80,570 87,955 Loss from operations (3,663 ) (1,513 ) Non-operating income (expense) Interest income 605 417 Interest expense (1,477 ) (4,450 ) Other income (expense), net (744 ) 16,097 Net income (loss) before income taxes (5,279 ) 10,551 Income tax provision (benefit) (2,982 ) 4,534 Net income (loss) (2,297 ) 6,017 Net income (loss) attributable to redeemable non-controlling interest (165 ) 76 Adjustment attributable to redeemable non-controlling interest 844 379 Net income (loss) attributable to nCino, Inc. $ (2,976 ) $ 5,562 Net income (loss) per share attributable to nCino, Inc.: Basic $ (0.03 ) $ 0.05 Diluted $ (0.03 ) $ 0.05 Weighted average number of common shares outstanding: Basic 114,197,068 114,781,654 Diluted 114,197,068 116,578,848 nCino, CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited) Three Months Ended April 30, 2024 2025 Cash flows from operating activities Net income (loss) attributable to nCino, Inc. $ (2,976 ) $ 5,562 Net income (loss) and adjustment attributable to redeemable non-controlling interest 679 455 Net income (loss) (2,297 ) 6,017 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 8,290 10,705 Non-cash operating lease costs 1,615 1,161 Amortization of costs capitalized to obtain revenue contracts 2,741 3,591 Amortization of debt issuance costs 10 72 Stock-based compensation 16,205 15,814 Change in fair value of contingent consideration — 200 Deferred income taxes (3,441 ) 2,656 Provision for (recovery of) bad debt (131 ) 202 Net foreign currency losses (gains) 756 (13,669 ) Gains on investments — (1,652 ) Loss on disposal of long-lived assets — 73 Change in operating assets and liabilities: Accounts receivable 37,464 45,717 Costs capitalized to obtain revenue contracts (5,105 ) (3,158 ) Prepaid expenses and other assets (2,092 ) (1,542 ) Accounts payable 3,812 480 Accrued expenses and other liabilities (8,192 ) (15,796 ) Deferred revenue 6,175 5,245 Operating lease liabilities (1,368 ) (1,335 ) Other long term liabilities — (461 ) Net cash provided by operating activities 54,442 54,320 Cash flows from investing activities Acquisition of business, net of cash acquired (90,737 ) (50,263 ) Acquisition of assets (150 ) — Purchases of property and equipment (342 ) (1,718 ) Sale of investment — 3,684 Net cash used in investing activities (91,229 ) (48,297 ) Cash flows from financing activities Repurchases of common stock — (40,588 ) Proceeds from borrowings on revolving credit facility 75,000 102,500 Payments on revolving credit facility (20,000 ) (60,000 ) Payments of debt issuance costs (262 ) — Exercise of stock options 1,601 748 Principal payments on financing obligations (359 ) (410 ) Net cash provided by financing activities 55,980 2,250 Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash (1,799 ) 4,040 Net increase in cash, cash equivalents, and restricted cash 17,394 12,313 Cash, cash equivalents, and restricted cash, beginning of period 117,444 121,267 Cash, cash equivalents, and restricted cash, end of period $ 134,838 $ 133,580 Reconciliation of cash, cash equivalents, and restricted cash, end of period: Cash and cash equivalents $ 129,481 $ 133,230 Restricted cash included in long-term prepaid expenses and other assets 5,357 350 Total cash, cash equivalents, and restricted cash, end of period $ 134,838 $ 133,580 Non-GAAP Financial MeasuresIn nCino's public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures. Amortization of Purchased Intangibles. nCino incurs amortization expense for purchased intangible assets in connection with certain mergers and acquisitions. Because these costs have already been incurred, cannot be recovered, are non-cash, and are affected by the inherent subjective nature of purchase price allocations, nCino excludes these expenses for our internal management reporting processes. nCino's management also finds it useful to exclude these charges when assessing the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Although nCino excludes amortization expense for purchased intangibles from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Stock-Based Compensation Expenses. nCino excludes stock-based compensation expenses primarily because they are non-cash expenses that nCino excludes from our internal management reporting processes. nCino's management also finds it useful to exclude these expenses when they assess the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use, nCino believes excluding stock-based compensation expenses allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies. Acquisition-Related Expenses. nCino excludes expenses related to acquisitions as they limit comparability of operating results with prior periods. Acquisition-related expenses include but are not limited to: costs incurred from third-party professional services firms in connection with business combination and one-time integration activities. We believe these costs are non-recurring in nature and outside the ordinary course of business. Litigation Expenses. nCino excludes fees and expenses related to litigation expenses incurred from legal matters outside the ordinary course of our business as we believe their exclusion from non-GAAP operating expenses will facilitate a more meaningful explanation of operating results and comparisons with prior period results. Restructuring Costs. nCino excludes costs incurred related to bespoke restructuring plans and other one-time costs, if any, that are fundamentally different in strategic nature and frequency from ongoing initiatives. We believe excluding these costs facilitates a more consistent comparison of operating performance over time. Adjustments to stock-based compensation in connection with restructuring events are presented in Stock-Based Compensation Expenses. Intercompany Foreign Currency Exchange Gains/Losses. Beginning with the first quarter of fiscal 2026, nCino adjusts for foreign currency exchange gains and losses primarily from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity. We believe foreign currency gains and losses on intercompany loans and transactions is not indicative of our results and business outlook. Prior period amounts have been recast to reflect this change. Tax (Benefit) Provision Related to Acquisitions. Upon certain acquisitions, nCino reduced the valuation allowance against U.S. deferred tax assets, resulting in a one-time tax benefit recorded in Income tax (benefit) provision. We believe that the exclusion of this benefit from our non-GAAP net loss attributable to nCino and non-GAAP net loss attributable to nCino per share provides a more direct comparison to all periods presented. Income Tax Effect on Non-GAAP Adjustments. The income tax effects are related to the imputed tax impact on the difference between GAAP and non-GAAP costs and expenses. Adjustment to Redeemable Non-Controlling Interest. nCino adjusts the value of redeemable non-controlling interest of its joint venture nCino K.K. in accordance with the operating agreement for that entity. nCino believes investors benefit from an understanding of the company's operating results absent the effect of this adjustment, and for comparability, has reconciled this adjustment for previously reported non-GAAP results. There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino's management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below. nCino, OF GAAP TO NON-GAAP MEASURES(In thousands, except share and per share data)(Unaudited) Three Months Ended April 30, 2024 2025 GAAP total revenues $ 128,087 $ 144,137 GAAP cost of subscription revenues $ 31,780 $ 36,125 Amortization expense - developed technology (4,118 ) (5,075 ) Stock-based compensation (562 ) (664 ) Non-GAAP cost of subscription revenues $ 27,100 $ 30,386 GAAP cost of professional services and other revenues $ 19,400 $ 21,570 Amortization expense - other (82 ) (82 ) Stock-based compensation (2,779 ) (2,754 ) Non-GAAP cost of professional services and other revenues $ 16,539 $ 18,734 GAAP gross profit $ 76,907 $ 86,442 Amortization expense - developed technology 4,118 5,075 Amortization expense - other 82 82 Stock-based compensation 3,341 3,418 Non-GAAP gross profit $ 84,448 $ 95,017 The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1 GAAP gross margin % 60 % 60 % Amortization expense - developed technology 3 4 Stock-based compensation 3 2 Non-GAAP gross margin % 66 % 66 % GAAP sales & marketing expense $ 28,045 $ 32,971 Amortization expense - customer relationships (2,423 ) (3,580 ) Amortization expense - trade name (43 ) (424 ) Amortization expense - other (16 ) (28 ) Stock-based compensation (3,956 ) (2,928 ) Acquisition-related expenses — (335 ) Non-GAAP sales & marketing expense $ 21,607 $ 25,676 GAAP research & development expense $ 29,981 $ 33,341 Stock-based compensation (4,226 ) (4,115 ) Acquisition-related expenses — (90 ) Non-GAAP research & development expense $ 25,755 $ 29,136 GAAP general & administrative expense $ 22,544 $ 21,643 Stock-based compensation (4,682 ) (5,353 ) Acquisition-related expenses (5,040 ) (915 ) Litigation expenses (181 ) — Non-GAAP general & administrative expense $ 12,641 $ 15,375 GAAP loss from operations $ (3,663 ) $ (1,513 ) Amortization of intangible assets 6,682 9,189 Stock-based compensation 16,205 15,814 Acquisition-related expenses 5,040 1,340 Litigation expenses 181 — Non-GAAP operating income $ 24,445 $ 24,830 The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1 GAAP operating margin % (3 )% (1 )% Amortization of intangible assets 5 6 Stock-based compensation 13 11 Acquisition-related expenses 4 1 Non-GAAP operating margin % 19 % 17 % GAAP net income (loss) attributable to nCino, Inc. $ (2,976 ) $ 5,562 Amortization of intangible assets 6,682 9,189 Stock-based compensation 16,205 15,814 Acquisition-related expenses 5,040 1,340 Litigation expenses 181 — Intercompany foreign currency Exchange (gain)/loss2 844 (14,300 ) Tax benefit related to acquisition (3,609 ) (1,955 ) Income tax effect on non-GAAP adjustments3 (450 ) 2,378 Adjustment attributable to redeemable non-controlling interest 844 379 Non-GAAP net income attributable to nCino, Inc. $ 22,761 $ 18,407 Basic GAAP net income (loss) attributable to nCino, Inc. per share $ (0.03 ) $ 0.05 Weighted-average shares used to compute basic GAAP net income (loss) attributable to nCino, Inc. per share 114,197,068 114,781,654 Diluted GAAP net income (loss) attributable to nCino, Inc. per share $ (0.03 ) $ 0.05 Weighted-average shares used to compute diluted GAAP net income (loss) attributable to nCino, Inc. per share 114,197,068 116,578,848 Basic non-GAAP net income attributable to nCino, Inc. per share $ 0.20 $ 0.16 Weighted-average shares used to compute basic non-GAAP net income attributable to nCino, Inc. per share 114,197,068 114,781,654 Diluted non-GAAP net income attributable to nCino, Inc. per share $ 0.20 $ 0.16 Weighted-average shares used to compute diluted non-GAAP net income attributable to nCino, Inc. per share 116,553,054 116,578,848 Free cash flow Net cash provided by operating activities $ 54,442 $ 54,320 Purchases of property and equipment (342 ) (1,718 ) Free cash flow $ 54,100 $ 52,602 Principal payments on financing obligations4 (359 ) (410 ) Free cash flow less principal payments on financing obligations $ 53,741 $ 52,192 1Columns may not foot due to rounding.2Effective the beginning of our first quarter for fiscal year 2026, we are excluding intercompany foreign currency exchange gains and losses from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity. Prior period amounts have been recast to reflect this change.3Income tax adjustments for prior periods have been recast related to excluding intercompany foreign currency exchange gains and losses related to intercompany loans and transactions from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity as stated in the note above.4These amounts represent the non-interest component of payments towards financing obligations for in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
