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nCino, Inc. is a software-as-a-service (SaaS) company that specializes in providing cloud-based banking technology solutions to financial institutions. The company offers the nCino Bank Operating System, which is designed to enhance efficiency, transparency, and customer experience for banks and other financial entities. nCino's offerings include subscription-based services and professional services that support the implementation and use of its solutions.
- Subscription Revenues - Provides access to nCino's solutions, including client onboarding, loan origination, and deposit account opening applications, under multi-year contracts. Offers nIQ and nCino Mortgage solutions, along with maintenance and support services.
- nIQ - Charged based on asset size or usage.
- nCino Mortgage - A digital homeownership solution.
- Professional Services and Other Revenues - Offers implementation, configuration assistance, training, and advisory services to facilitate the adoption of nCino's solutions. Services are provided directly by nCino or through system integration partners for larger institutions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Pierre Naudé ExecutiveBoard | Chairman and CEO | None | Pierre Naudé has been CEO since nCino's inception and remains in this role as of December 18, 2024. He has led the company through its growth and innovation in the financial technology space. | |
April Rieger Executive | Chief Legal & Compliance Officer | None | April Rieger joined nCino in July 2018 as Assistant General Counsel and became Chief Legal & Compliance Officer in September 2022. | |
Chris Gufford Executive | Chief Product Officer | None | Chris Gufford succeeded Sean Desmond as Chief Product Officer in February 2025. Further details about his background are not available in the documents. | |
Greg Orenstein Executive | CFO & Treasurer | None | Greg Orenstein joined nCino in March 2012 and became CFO in January 2023. He previously held roles such as Chief Corporate Development & Legal Officer and Chief Strategy Officer. | |
Sean Desmond Executive | President and CEO | None | Sean Desmond joined nCino in July 2013 as Chief Customer Success Officer, later becoming Chief Product Officer in May 2024, and was appointed CEO in February 2025. | |
Jeffrey Horing Board | Director | Managing Director at Insight Partners; Board Member at WalkMe, Monday.com, Alteryx, and JFrog | Jeffrey Horing has been on nCino's board since February 2015. He is a co-founder of Insight Partners and serves on the boards of several technology companies. | |
Jon Doyle Board | Director | Vice Chairman and Head of Financial Services Group at Piper Sandler | Jon Doyle has been on nCino's board since December 2019. He is also a senior leader at Piper Sandler, focusing on financial services. | |
Justin Nyweide Board | Director | Founding Partner and CIO at HMI Capital; Member of several education-based non-profit boards | Justin Nyweide joined nCino's board in February 2025 as part of a Cooperation Agreement with HMI Capital. He has extensive investment experience in technology and financial services. | |
Pam Kilday Board | Lead Independent Director | None | Pam Kilday has been on nCino's board since December 2019 and became Lead Independent Director in May 2022. She has extensive experience in financial services, including leadership roles at Truist Financial. | |
Spencer Lake Board | Director | Co-founding Partner at 13books Capital; Board Member at Duco, Nivaura, and National Debt Management Center in Saudi Arabia | Spencer Lake has been on nCino's board since April 2017. He has extensive experience in financial services and fintech. | |
Steven Collins Board | Director | Board Member at Paycor HCM and Sprout Social | Steven Collins has been on nCino's board since December 2019. He has extensive financial expertise, having served as CFO at ExactTarget and Navteq. | |
William Ruh Board | Director | President at Cairn Capital Management and Ruh Advisory; Board Member at America One Racing | William Ruh has been on nCino's board since May 2013. He has significant expertise in financial services and consulting. | |
William Spruill Board | Director | President of 2ndF; Angel Investor | William Spruill joined nCino's board in November 2022. He co-founded Global Data Consortium, which was acquired by LSEG, and is active in fostering inclusive growth in entrepreneurship. |
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With the increased mortgage churn due to IMB M&A activity and continued elevated mortgage rates despite a reduction in the federal funds rate, what specific measures are you taking to address the higher-than-expected mortgage churn and mitigate its impact on your subscription revenues?
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You mentioned transitioning to the Intelligent Solution Framework with new platform-based pricing starting in February; can you provide more details on how this new pricing model will impact your revenue recognition and whether there are any risks to customer adoption during this transition?
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You've indicated plans to provide an updated KPI framework starting with the fourth quarter's earnings report; can you share any preliminary insights into which new KPIs you will include, and how they will enhance transparency and help investors better model your business?
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Given that you've struggled to penetrate continental European markets and have seen varied sales momentum internationally, what are the specific challenges you face in these regions, and what strategic initiatives are you implementing to accelerate international growth and market penetration?
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Despite exceeding expectations for revenues and operating income and noting strong sales momentum, your guidance remains cautious; can you elaborate on the factors contributing to this conservative outlook, particularly in light of the expected strong fourth-quarter bookings, and how confident are you in sustaining this growth into next fiscal year?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Artesian Solutions Limited (FullCircl) | 2024 | nCino acquired FullCircl for $135 million in cash, with $15 million held as deferred retention, and funded primarily through its 2024 Credit Facility, with the transaction closing on November 5, 2024. The acquisition strategically expands nCino’s capabilities in customer lifecycle intelligence, enhancing onboarding and compliance processes in the UK and Europe. |
DocFox, Inc. | 2024 | Completed on March 20, 2024, the acquisition of DocFox for $74.3 million in cash (including a $6.2 million component for cash-settled stock options) was funded via $75.0 million borrowed under the credit facility. It strengthens nCino’s platform by automating onboarding and account opening processes, with additional integration involving RSUs and transaction costs. |
SimpleNexus | 2022 | The acquisition of SimpleNexus was completed on January 7, 2022, for approximately $933.6 million in a mix of 12.76 million shares of nCino common stock and $270 million in cash, incurring $10.0 million in transaction costs. This acquisition bolsters nCino’s mobile-first homeownership software, accelerating digital transformation and expanding its product offerings in the financial services industry. |
Recent press releases and 8-K filings for NCNO.
- Q4 2025 & FY2025 Earnings: nCino reported Q4 revenues of $141.4M (up 14% YoY) with subscription revenues of $125.0M; FY2025 totals reached $540.7M in revenues, $469.21M in subscriptions, and non-GAAP operating income of $96.2M .
- Fiscal Guidance: For Fiscal '26, the company projected total revenues of $574.5–578.5M with 7–8% subscription revenue growth, complemented by Q1 2025 guidance of total revenues between $138.75M and $140.75M and expectations for FY2026 operating income .
- Strategic Leadership: New CEO Sean Desmond outlined a pivot from cloud banking to AI banking, emphasizing sustainable, profitable growth and long-term operational improvements .
- Operational Realignment: Enhanced go-to-market investments, key leadership hires in EMEA, and integration of acquisitions (including DocFox, FullCircl, and Sandbox Banking) are set to drive efficiency and next-generation product innovation .
- Stock Repurchase: The board authorized a program to repurchase up to $100M of common stock, reflecting confidence in nCino’s long-term strategy .
- Forward-Looking Statements: The update reiterated forward-looking statements and associated risk factors, underscoring that results depend on various uncertain factors .