nCino Reports 11% Revenue Growth to $159.4M, Sharp Profit Turnaround
NCNO•nCino reported fiscal Q1 GAAP operating income of $21.1M versus a $1.5M loss a year earlier and non-GAAP operating income of $44.5M on $159.4M revenue, up 11% year-over-year. It generated $80.8M free cash flow, repurchased 6.1M shares for $93.1M and guided Q2 revenue of $157.8M–$159.8M.
1. First-Quarter Financial Results
nCino delivered total revenues of $159.4 million for the first quarter of fiscal 2027, representing an 11% increase from $144.1 million a year earlier. Subscription revenues rose 12% to $140.9 million, both figures topping consensus estimates.
2. Profitability and Cash Generation
GAAP operating income turned positive at $21.1 million compared to a $1.5 million loss in the prior-year quarter, while non-GAAP operating income jumped 79% to $44.5 million. Free cash flow climbed 54% to $80.8 million, with $103.1 million in cash and equivalents on hand.
3. Share Repurchase Activity
During the quarter, nCino repurchased approximately 6.1 million shares at an average price of $15.20, totaling $93.1 million, under its existing buyback programs. $65.0 million remains available for future repurchases.
4. New Contracts and Outlook
The company secured multi-year renewals and new deals with major banks and credit unions, including a top-5 Canadian bank and a $6.5 billion credit union. It forecast Q2 revenue of $157.8 million to $159.8 million and full-year revenue of $642 million to $646 million.
