nCino, Inc. Q2 FY2026 earnings call

Mission: nCino addresses challenges faced by financial institutions with legacy tech by offering intelligent automation on a unified cloud-native SaaS platform. ### Second Quarter Performance: Outperformed guidance for revenues and profitability. Flagship commercial loan origination had strong activity in North America. In EMEA, signed first customer in Spain. In credit unions, signed expansion deal and added six new logos. Onboarding saw an existing UK challenger bank increase ACV. Mortgage had expansion activity from over 50 customers. ### AI Progress: Banking Adviser, an AI-powered interface, has over 80 customers. Rolling out fully agentic workflows next quarter.

In the second quarter, total revenues were $148.8 million, up 12% year over year. Subscription revenues were $130.8 million, up 15% year over year on a reported basis and 10% organically. Professional services revenues were $18.1 million, a decrease of 2% year over year. Non-US total revenue was $33.5 million, up 22% or 19% in constant currency. Non-US subscription revenues were $27.4 million, up 30% or 27% in constant currency and 10% organically.

Fiscal 2026 Outlook: Total revenues expected $146 million to $148 million, subscription revenues $127.5 million to $129.5 million. Non-GAAP operating income in Q3 expected $31.5 million to $33.5 million. Full-year total revenues $585 million to $589 million, non-GAAP operating income $117.5 million to $121.5 million. ACV outlook $564 million to $567 million with net additions of $48 million to $51 million. ### Mortgage: U.S. Mortgage subscription revenues growth for fiscal 2026 now expected 5% in Q3, up from prior flat year-over-year guidance.

Q: Brent Bracelin asked about the drivers behind organic growth reacceleration and if they were sustainable.

A: Greg Orenstein said it was due to solid execution, improved macro, and focused team.

Q: Brent Bracelin then asked about AI differentiation and Banking Adviser.

A: Sean Desmond said AI is in every customer conversation, Banking Adviser has 80 customers, and agentic workflows are coming soon.

Q: Terry Tillman asked about platform pricing uplift and mortgage.

A: Greg Orenstein said platform pricing transition is going well with price uplifts, and Sean Desmond talked about mortgage momentum and deal activity.

Q: Ryan Tomasello asked about credit union wins and Banking Adviser revenue contribution.

A: Sean Desmond said credit union wins validated the go-to-market team, and Greg Orenstein said Banking Adviser is focused on adoption not revenue this year.

Q: Michael Infante asked about visibility and ACV outlook.

A: Greg Orenstein said they feel confident with deal activity and pipeline.

Q: Adam Hotchkiss asked about Doc Fox, Full Circle, and fiscal 2027 rule of 40.

A: Sean Desmond talked about Full Circle and DocVox progress, and Greg Orenstein said focus is on growth.

Q: Aaron Kimson asked about Banking Adviser driving early renewals and stablecoin risks.

A: Sean Desmond said Banking Adviser is pulling forward renewals, and he's monitoring stablecoin risks.

Q: Chris Kennedy asked about fiscal 2027 growth drivers and pipeline.

A: Sean Desmond said focus is on platform and AI, and Greg Orenstein talked about execution.

Q: Alex Sklar asked about international pipeline and mortgage volume.

A: Sean Desmond said international pipeline is strong, and Greg Orenstein talked about mortgage guidance philosophy.

Q: Koji Ikeda asked about growth drivers and professional services gross margin.

A: Sean Desmond talked about platform and AI, and Greg Orenstein said professional services margin improvement is gradual.

Q: Joe Vruwink asked about pricing model and bookings.

A: Sean Desmond talked about pricing model benefits, and Greg Orenstein said first half bookings were good.

Q: Charles Nabhan asked about inorganic growth and mortgage mix.

A: Sean Desmond talked about Full Circle and Sandbox progress, and Greg Orenstein talked about mortgage platform pricing mix.