nCino, Inc.
- Open
- 17.77
- Day high
- 18.49
- Day low
- 17.66
- Prev close
- 18.16
- Volume
- 2.2M
- Mkt cap
- $1.9B
- P/E (TTM)
- 137.3
- EPS (TTM)
- $0.13
- P/B
- 2.0
- P/S
- 3.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$2.1M over the last 3 months (0 open-market buys, 9 sales)
- 🏛Institutions mixed (13F)
nCino, Inc. (NCNO) is a Technology company listed on NASDAQ. The stock is down 42% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 9 sales (SEC Form 4).
nCino, Inc. (NCNO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NCNO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 27, 2026 | $0.28 | $0.33 | +17.9% | $159M | +2.3% |
| Mar 31, 2026 | $0.21 | $0.37 | +76.2% | $150M | +1.2% |
| Dec 3, 2025 | $0.21 | $0.31 | +50.0% | $152M | +3.3% |
| Aug 26, 2025 | $0.14 | $0.22 | +57.1% | $149M | +1.0% |
| May 28, 2025 | $0.16 | $0.16 | +0.0% | $144M | +0.7% |
| Dec 4, 2024 | $0.16 | $0.21 | +31.2% | $139M | +1.1% |
| May 29, 2024 | $0.14 | $0.19 | +40.4% | $128M | +1.1% |
| Nov 29, 2023 | $0.11 | $0.14 | +27.3% | $122M | -2.1% |
| Aug 29, 2023 | $0.07 | $0.09 | +28.6% | $100M | -13.4% |
| May 31, 2023 | $0.05 | $0.07 | +40.0% | $114M | +1.0% |
| Nov 30, 2022 | $-0.01 | $-0.01 | -56.0% | $105M | +1.8% |
| Sep 1, 2022 | $-0.08 | $-0.04 | +50.0% | $100M | -17.4% |
NCNO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | Desmond Seandirector, officer: CEO & President | Sell | 8,064 | $17.47 |
| Jul 8, 2026 | Desmond Seandirector, officer: CEO & President | Option | 8,064 | $4.98 |
| Jun 23, 2026 | Spruill William Rdirector | Grant | 12,911 | — |
| Jun 23, 2026 | Dugatkin Diego Germandirector | Grant | 12,911 | — |
| Jun 23, 2026 | Kilday Pameladirector | Grant | 12,911 | — |
| Jun 23, 2026 | Doyle Jonathan Jdirector | Grant | 12,911 | — |
| Jun 23, 2026 | Yasutake Andrew Hidekidirector | Grant | 12,911 | — |
| Jun 23, 2026 | Nyweide Justin C.director | Grant | 12,911 | — |
| Jun 23, 2026 | RUH WILLIAM Jdirector | Grant | 12,911 | — |
| Jun 23, 2026 | Naude Pierredirector | Grant | 12,911 | — |
| Jun 5, 2026 | Desmond Seandirector, officer: CEO & President | Option | 8,064 | $4.98 |
| Jun 5, 2026 | Desmond Seandirector, officer: CEO & President | Sell | 8,064 | $16.26 |
| May 7, 2026 | Desmond Seandirector, officer: CEO & President | Option | 8,065 | $4.98 |
| May 7, 2026 | Desmond Seandirector, officer: CEO & President | Sell | 16,589 | $18.04 |
| May 7, 2026 | Sellers Jeanetteofficer: SVP of Accounting | Sell | 3,695 | $18.04 |
Source: NCNO SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full NCNO insider & 13F page →nCino, Inc. company profile
Overview
nCino, Inc. (NASDAQ:NCNO) is a cloud-based software-as-a-service company founded in 2011 and headquartered in Wilmington, North Carolina. The company went public in July 2020 and has since established itself as a leading provider of digital banking solutions. nCino serves financial institutions globally, offering a comprehensive cloud platform that digitizes and automates banking operations from loan origination to regulatory compliance. Under new CEO Sean Desmond's leadership, the company is positioning itself as a leader in AI-powered banking solutions while expanding its international presence and broadening its product portfolio beyond its core commercial lending platform.
Business
nCino operates in the financial technology sector, specifically providing cloud-based banking software solutions to financial institutions. The company's core offering is the nCino Bank Operating System, a comprehensive cloud platform that serves as the digital backbone for banks and credit unions. This system digitizes, automates, and streamlines complex banking processes that traditionally required manual paperwork and multiple disconnected systems. The platform encompasses several key areas of banking operations. Commercial lending represents the company's original and strongest segment, helping banks manage the entire loan lifecycle from application to approval to ongoing monitoring. The system handles credit analysis, document management, workflow automation, and regulatory compliance for business loans. Consumer lending capabilities extend the platform to personal loans, auto loans, and other retail banking products, offering self-service portals and streamlined approval processes. nCino also operates SimpleNexus, a specialized mortgage lending platform acquired through previous acquisitions. This suite enables mortgage loan officers, borrowers, real estate agents, and settlement agents to collaborate throughout the homeownership process via internet-enabled devices. SimpleNexus represents approximately 17% of subscription revenues and serves the residential mortgage market. The company's nCino IQ suite leverages artificial intelligence and machine learning to provide analytics, automation, and insights. This includes tools for credit risk analysis, regulatory compliance monitoring, and operational efficiency improvements. The newer Banking Advisor product uses generative AI to provide intelligent recommendations and automate routine banking tasks. International operations contribute approximately 25% of total revenues, with strong growth in markets including the UK, Canada, Japan, and Nordic countries. The company focuses primarily on English-speaking markets and regions with similar banking regulatory structures to facilitate easier product localization and implementation.
Revenue model
nCino generates revenue primarily through subscription-based software licensing, which accounts for approximately 86% of total revenues. Financial institutions pay recurring fees to access and use the cloud-based platform, typically under multi-year contracts. This Software-as-a-Service model provides predictable, recurring revenue streams with high customer retention rates. The company also generates revenue through professional services, representing about 14% of total revenues. These services include implementation, training, customization, and ongoing support to help financial institutions deploy and optimize the platform. Professional services often accompany new software sales and provide additional revenue opportunities with existing customers. nCino's pricing model is transitioning from solution-specific pricing to platform-based pricing tied to the financial institution's asset size. This approach allows for more scalable revenue growth as customers expand their use of multiple platform capabilities. The company is also introducing consumption-based pricing elements, particularly for AI-powered features and data analytics services. Several factors influence nCino's profit margins. Positive margin drivers include the high-margin subscription model, economies of scale as the platform serves more users, cross-selling additional solutions to existing customers, and the shift toward higher-value AI and analytics offerings. The company benefits from strong customer retention and expansion within existing accounts. Margin pressures come from significant investments in research and development to maintain technological leadership, international expansion costs, sales and marketing expenses to acquire new customers, and the lower-margin professional services business. The mortgage market downturn has also created headwinds, though the company expects this segment to recover as interest rates stabilize and housing market activity increases.
Competitive moat
nCino possesses a moderate but strengthening competitive moat built primarily on switching costs and network effects. Once financial institutions implement the nCino platform, replacing it becomes extremely costly and disruptive due to the mission-critical nature of banking operations and the extensive integration required with existing systems. Banks typically invest months or years in implementation, staff training, and process redesign, creating substantial switching costs. The company benefits from data network effects as more institutions use the platform. This generates insights that improve the AI and analytics capabilities, making the platform more valuable for all users. nCino's position as a trusted data partner gives it unique access to banking workflows and transaction patterns that would be difficult for competitors to replicate. However, the moat faces several challenges. Large technology companies like Salesforce, Microsoft, and Oracle have substantial resources and existing relationships with financial institutions. These companies could develop competing solutions or acquire smaller fintech companies to enter nCino's market. Specialized competitors in specific banking segments (mortgage, commercial lending, compliance) could capture market share by offering deeper functionality in their niches. Open banking initiatives and API standardization could reduce switching costs over time by making it easier to integrate multiple vendors' solutions. Additionally, some large banks have the resources to build proprietary systems, though most prefer to focus on their core banking business rather than technology development. The company's expanding AI capabilities and international presence are strengthening its competitive position, but the moat remains vulnerable to well-funded competitors and changing technology standards in the banking industry.
Risks & safety
nCino presents a moderate margin of safety with manageable financial risks but some valuation concerns. Liquidity and Solvency: - Cash position: $120.9 million with strong balance sheet - Current ratio: 1.20, indicating adequate short-term liquidity - Debt-to-equity ratio: 0.22, representing low financial leverage - Free cash flow: $53.4 million annually, demonstrating cash generation capability - No immediate solvency concerns given SaaS recurring revenue model Valuation Metrics: - EV/EBITDA: 422x (extremely high due to low EBITDA margins) - Price-to-book ratio: 3.6x - Revenue multiple: approximately 6x forward revenues - Trading at premium valuations typical of growing SaaS companies Other Considerations: - Subscription revenue model provides revenue predictability and customer stickiness - Recent profitability improvements with positive EBITDA generation - Exposure to banking sector cyclicality and mortgage market volatility - Competitive pressures from larger technology companies entering the space
Recent development
Over the past few years, nCino has executed several strategic initiatives to expand its platform capabilities and market reach. The company completed multiple acquisitions including DocFox for commercial account opening, FullCircl for enhanced onboarding capabilities, Allegro for indirect auto lending, and Sandbox Banking to strengthen its technology infrastructure. These acquisitions have broadened the platform beyond its core commercial lending origins into comprehensive banking operations. A major strategic pivot involves the development and deployment of AI-powered solutions, particularly the Banking Advisor functionality that uses generative artificial intelligence to provide intelligent recommendations and automate routine banking tasks. The company has positioned AI as a key differentiator, emphasizing compliance-focused and purposeful AI applications rather than generic automation tools. nCino has also expanded internationally, achieving 34% year-over-year growth in non-U.S. revenues. The company has established presence in markets including Japan, the Nordic countries, Spain, and the UK, focusing on English-speaking markets and regions with similar banking regulatory structures. The company is transitioning its pricing model from solution-specific to platform-based pricing tied to financial institution asset size. This change aims to capture more value as customers expand their use of multiple platform capabilities and is expected to drive revenue growth acceleration in fiscal 2027. Under new CEO Sean Desmond's leadership, nCino has sharpened its focus on becoming a "worldwide leader in AI banking" while maintaining its emphasis on operational efficiency and regulatory compliance for financial institutions. The company has also restructured its sales and marketing organization to better serve different market segments, including the launch of a dedicated credit union go-to-market team.
NCNO company profile · for informational purposes only — not investment advice.
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