nCino recently released its 10-Q report for the quarter ended July 31, 2026. The company is a software-as-a-service provider that sells banking workflow software to financial institutions in the U.S., the U.K., and other markets. Its platform covers onboarding, account opening, lending, credit monitoring, portfolio analytics, and integration tools, with customers including banks, credit unions, challenger banks, and mortgage lenders.
In Item 2, nCino said it continues to focus on replacing fragmented banking systems with a single platform built around its data foundation and AI-driven capabilities. The company said it generally sells on subscription contracts that run three to five years, while professional services are used to help customers configure and implement the software. It also said it has expanded through acquisitions including SimpleNexus, DocFox, FullCircl, ILT, Visible Equity, FinSuite, and Sandbox Banking, which added capabilities in mortgage lending, onboarding, account opening, indirect auto lending, analytics, and AI.
nCino reported that its business spans North America, Europe, the Middle East, Japan, and Asia-Pacific, and that international markets accounted for 22.6% of revenue in the quarter and 22.7% in the first half. The company said it had 184 sales and sales support employees in the U.S. and 132 outside the U.S. as of July 31, 2026. It also said enterprise financial institutions are expected to represent a larger share of nCino Platform sales over time.
The quarter included two financing actions. On March 30, 2026, nCino entered into a $200.0 million incremental term loan maturing on October 28, 2029, with quarterly principal payments of $2.5 million and the balance due at maturity. On March 31, 2026, it entered into a $100.0 million accelerated share repurchase agreement, with the initial delivery representing about 80% of the purchase price at an initial price of $14.98 per share and final settlement on June 2, 2026 at $16.57 per share.
Revenue rose to $161.0 million in the quarter ended July 31, 2026 from $148.8 million a year earlier, an increase of 8.2%. Subscription revenue increased 9.7% to $143.5 million from $130.8 million. Net income attributable to nCino was $5.1 million, compared with a net loss of $15.3 million in the prior-year quarter.
For the first six months of fiscal 2027, revenue increased 9.4% to $320.4 million from $293.0 million. Subscription revenue rose 10.9% to $284.4 million from $256.3 million. Net income attributable to nCino was $18.7 million, compared with a net loss of $9.7 million in the same period a year earlier.
The company said future growth depends on adding new financial institution customers, expanding use among existing customers, and converting more of its business to asset-based pricing, which it began implementing in fiscal 2025. It said sales cycles typically run six to nine months for smaller institutions and 12 to 18 months or longer for larger ones. It also said inflation and higher interest rates have weighed on the U.S. mortgage market, affecting demand for mortgage-related products and services. Following these announcements, the company's shares moved 3.8%, and are now trading at a price of $21.60. Check out the company's full 10-Q submission here.
