nCino Q2 revenue beats estimates; authorizes $100 mln buyback
NCNO•Drivers behind the quarter
- Customer expansion - The company said its largest customers consolidated more operations on nCino and expanded commitments to include AI capabilities.
- Renewals and new wins - nCino completed multi-year renewals with four U.S. enterprise customers and signed new clients in Germany and Japan.
- Subscription revenue growth - Subscription revenues grew 10% year over year, outpacing overall revenue growth.
Outlook for Q3 and fiscal 2027
nCino sees third-quarter total revenue between $161.25 mln and $163.25 mln.
The company expects fiscal 2027 total revenue between $644.0 mln and $647.0 mln and forecasts fiscal 2027 free cash flow between $137.0 mln and $142.0 mln.
Company authorizes new buyback program
The company authorized a new $100 mln stock repurchase program.
Q2 revenue and operating income beat estimates
nCino said fiscal second-quarter revenue rose 8% year over year, beating analyst expectations. Adjusted operating income for fiscal Q2 also beat analyst expectations.
