NCNO $18.68 -3.46%

NCNO · nCino, Inc.

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$18.68 -0.67 (-3.46%) At close · Oct 2

Russell 2000 member Rebalance outlook locked

Market Cap

$2.05B

105.74M

Volume · Oct 2 1.78M Avg daily vol (3M) 2.4M

All webcasts

Earnings call · FY2027 Q2

nCino, Inc. (NCNO) Q2 2027 Earnings Call

Concluded Aug 25, 2026

Aug 25, 2026 0 turns

Period: FY2027 Q2
Runtime: —
Sources: 2 artifacts

8-K 10-Q

Executive readout · one minute

What matters this quarter

nCino beat Q2 FY27 guidance across revenue, non-GAAP operating income, and free cash flow, and raised its full-year FY27 non-GAAP operating income and free cash flow outlook while authorizing an additional $100M share repurchase, though it trimmed U.S. mortgage subscription revenue guidance for the second half on higher-for-longer rates.

Customer wins and platform expansion 51 Financial results and guidance 46 AI and Banking Advisor adoption 33 International expansion 11 Professional services profitability 10 Product innovation and talent 9

Management tone

Confident

Net tone +72 · low hedging

Grounding quotes

“our business is strong and continues to gain momentum”
“We are again pleased with our financial results”
“we feel really good about where we are in the progress in the first half of the year”
“we're pretty energized here”

Forward guidance

8 guided metrics

Management's latest ranges and targets are included below.

Research coverage

2 live sources

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Revenue $161.00M +8.2% YoY

Diluted EPS $0.05

Gross margin 62.6% +3.4 pp YoY

Net income $5.08M

Research materials

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8-K earnings release Filed Aug 25, 2026 10-Q report Filed Aug 25, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

Q2 non-GAAP operating income was $40.8M (25% margin, up 36% YoY), and full-year FY27 non-GAAP operating income guidance was raised to $171M–$174M (~33% YoY growth, ~500 bps margin expansion at midpoint).
Q2 free cash flow was $34M, up 170% YoY, and full-year FY27 free cash flow guidance was raised to $137M–$142M (~69% YoY growth at midpoint).
Board authorized an additional $100M share repurchase program after exhausting prior authorizations with $300M repurchased since April 2025.
Non-mortgage subscription revenue grew 12% YoY in constant currency with full-year FY27 ex-mortgage guidance implying 12% growth and Q4 acceleration of 400 bps YoY, attributed to AI product innovation.
Professional services gross margin turned positive at 3%, up 600 bps YoY from (3%).

↓ Risks & pressure points

U.S. mortgage subscription revenue guidance for Q3 and Q4 FY27 was cut by ~$700K and ~$1.2M respectively on higher-for-longer rates driving incremental IMB churn.
Professional services revenue declined 3% YoY to $17.5M, reflecting prioritization of profitability over growth.
U.S. mortgage subscription revenue was $20.6M, down 1% YoY, with the higher-for-longer rate environment pressuring the independent mortgage bank market.

Key moments

Read the management remarks selected from the transcript.

“We now expect non-GAAP operating income for fiscal 27 to be $171 million to $174 million, up from our prior range of $166 million to $171 million. Our updated guidance represents an increase in non-GAAP operating income of approximately 33% year-over-year at the midpoint of the range and non-GAAP operating income margin expansion of approximately 500 basis points.” Greg Orenstein, CFO

Forward guidance

From the 8-K filed Aug 25, 2026.

Metric	Period	Guided	Basis
Total revenues third quarter ending October 31, 2026	third quarter ending October 31, 2026	$161.25M – $163.25M	—
Subscription revenues third quarter ending October 31, 2026	third quarter ending October 31, 2026	$143.25M – $145.25M	—
Non-GAAP operating income third quarter ending October 31, 2026	third quarter ending October 31, 2026	$42M – $44M	Non-GAAP
Total revenues fiscal year 2027 ending January 31, 2027	fiscal year 2027 ending January 31, 2027	$644M – $647M	—
Non-GAAP operating income fiscal year 2027 ending January 31, 2027	fiscal year 2027 ending January 31, 2027	$171M – $174M	Non-GAAP
Subscription revenues fiscal year 2027 ending January 31, 2027	fiscal year 2027 ending January 31, 2027	$573.5M – $576.5M	—
Free Cash Flow fiscal year 2027 ending January 31, 2027	fiscal year 2027 ending January 31, 2027	$137M – $142M	—
Annual Contract Value (ACV) at period end fiscal year 2027 ending January 31, 2027	fiscal year 2027 ending January 31, 2027	$662.5M – $667.5M	—

Quarter detail

How the reported period landed and where the business moved.

Revenue · products & services

License And Service$143.46M +9.7% YoY

Professional Services$17.54M -2.9% YoY

Capital returned

Buybacks · derived: $65.58M
Shares repurchased: 4.70M

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