NCNO · nCino, Inc.

nCino reported strong Q4 and FY2026 results, exceeding all financial guidance metrics with total revenues of $149.7 million (up 6% YoY) and $594.8 million (up 10% YoY), driven by 7% and 12% subscription revenue growth respectively. ACV reached $602.4 million, up 17% YoY, reflecting robust sales execution and accelerating demand for AI-powered banking solutions, as highlighted by CEO Sean Desmond. Profitability improved markedly with Q4 GAAP operating income of $2.8 million versus a prior-year loss, and non-GAAP operating income rising 42% YoY to $34.7 million. FY non-GAAP operating income grew 35% to $129.4 million, achieving a 22% margin. Management emphasized record gross ACV bookings and customer confidence in nCino's platform. Concurrently, the company amended its October 2024 Credit Agreement to add a $200 million Term Loan A-1 maturing in 2029, bearing interest at Term SOFR +2.00% (floor 0%), with quarterly $2.5 million amortization and covenants including a 4.00x leverage ratio and 3.00x interest coverage. Proceeds fund a $100 million ASR with Wells Fargo, delivering ~80% of shares upfront based on March 31 closing price, with final settlement in Q2 FY2027 using VWAP less discount. This follows a December 2025 $100 million buyback authorization ($75 million remaining post-ASR). CFO Greg Orenstein noted the moves reflect conviction in market leadership and capital allocation for shareholder value. FY2027 guidance projects 7-8% total revenue growth to $639-643 million, non-GAAP operating income of $165-170 million (26% margin), and ACV growth to $662.5-667.5 million, with Free Cash Flow of $132-137 million. Balance sheet shows $88.7 million cash against $213.5 million revolver draw as of January 31, 2026.