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    nCino (NCNO)

    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.

    1. 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.
    2. 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.

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    NamePositionExternal RolesShort 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.

    1. 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?

    2. 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?

    3. 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?

    4. 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?

    5. 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?

    Research analysts who have asked questions during nCino earnings calls.

    Aaron Kimson

    JMP Securities LLC

    5 questions for NCNO

    Also covers: BLND, EVCM, EXFY +2 more

    Alexander Sklar

    Raymond James Financial, Inc.

    5 questions for NCNO

    Also covers: AIOT, BL, DUOL +11 more

    Cristopher Kennedy

    William Blair & Company

    5 questions for NCNO

    Also covers: ALKT, AXP, CTLP +14 more

    Ryan Tomasello

    Keefe, Bruyette & Woods

    5 questions for NCNO

    Also covers: BLND, CSGP, OPAD +5 more

    Adam Hotchkiss

    Goldman Sachs

    4 questions for NCNO

    Also covers: ALKT, ALRM, BL +11 more

    Charles Nabhan

    Stephens Inc.

    4 questions for NCNO

    Also covers: ACIW, ALKT, ASUR +8 more

    Koji Ikeda

    Bank of America

    4 questions for NCNO

    Also covers: ADSK, AMPL, BL +19 more

    Michael Infante

    Morgan Stanley

    4 questions for NCNO

    Also covers: BR, CWAN, ENFN +6 more

    Saket Kalia

    Barclays Capital

    4 questions for NCNO

    Also covers: ADBE, ADSK, ALRM +24 more

    Brent Bracelin

    Piper Sandler Companies

    3 questions for NCNO

    Also covers: ADBE, AMPL, ASAN +20 more

    Terry Tillman

    Truist Securities

    3 questions for NCNO

    Also covers: , FIVN, INTA +12 more

    Terrell Tillman

    Truist Securities

    2 questions for NCNO

    Also covers: FIVN, INST, INTA +13 more

    Alexander Markgraff

    KeyBanc Capital Markets

    1 question for NCNO

    Also covers: AVDX, BILL, COIN +6 more

    Alex Markgraff

    KeyBanc Capital Markets

    1 question for NCNO

    Also covers: CNCK, HOOD, IIIV +1 more

    James Faucette

    Morgan Stanley

    1 question for NCNO

    Also covers: ACN, ADP, AFRM +22 more

    Joe Vruwink

    Baird

    1 question for NCNO

    Also covers: ADSK, BSY, CDNS +10 more

    John Gomez

    Scotiabank

    1 question for NCNO

    Also covers: PD

    Joseph Vruwink

    Baird

    1 question for NCNO

    Also covers: ADSK, ANSS, BSY +13 more

    J.R. Herrera

    Piper Sandler

    1 question for NCNO

    Kenneth Suchoski

    Autonomous Research

    1 question for NCNO

    Also covers: BILL, FLYW, JKHY +1 more

    Nicholas Altmann

    Scotiabank

    1 question for NCNO

    Also covers: AMPL, APPN, BRZE +8 more

    Nick Altmann

    Scotiabank

    1 question for NCNO

    Also covers: AMPL, BRZE, GTLB +3 more

    Robert Trout

    Macquarie Capital

    1 question for NCNO

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    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.

    nCino Discusses Growth Strategy and New Asset-Based Pricing Model
    ·$NCNO
    Guidance Update
    New Projects/Investments
    Revenue Acceleration/Inflection
    • nCino aims to double its Annual Recurring Revenue (ARR) to $1 billion over the next five to six years, building on its current growth rate of approximately 13%.
    • The company is transitioning its business model from a seat-based to an asset-based pricing model, which formally began on February 1; 21% of Annual Contract Value (ACV) has already moved to this new model, with AI capabilities requiring adoption of the new model.
    • nCino expects to become a Rule of 40 company by the fourth quarter of next year (Q4 2026) and maintains its long-term Rule of 50 framework with a 35% non-GAAP operating margin.
    • Key growth drivers include its leadership in commercial banking (serving 15 of the top 30 U.S. banks and having a $5 billion Serviceable Addressable Market (SAM)), expansion into the consumer and mortgage markets (with a $10 billion SAM), and leveraging its AI product roadmap (Banking Advisor).
    7 days ago
    nCino Discusses ARR Doubling Goal and New Asset-Based Pricing
    ·$NCNO
    Revenue Acceleration/Inflection
    New Projects/Investments
    Guidance Update
    • nCino aims to double its Annual Recurring Revenue (ARR) to $1 billion over the next five to six years, building on its leadership in cloud banking and its ambition to lead in AI banking.
    • The company is transitioning its pricing model from seat-based to an asset-based model, which formally began on February 1. Approximately 21% of nCino's Annual Contract Value (ACV) is already on this new model, with AI capabilities serving as a catalyst for early adoption.
    • nCino is targeting to become a Rule of 40 company around the fourth quarter of next year (2026), having previously outlined a Rule of 50 framework with a 35% non-GAAP operating margin.
    • Key growth initiatives include leveraging AI (Banking Advisor), expanding into the credit union space, international markets (e.g., Spain, Japan), growing the mortgage business (which grew 22% year-over-year last quarter), and enhancing onboarding solutions through recent acquisitions.
    7 days ago
    nCino outlines growth strategy, pricing model transition, and AI focus
    ·$NCNO
    Revenue Acceleration/Inflection
    New Projects/Investments
    Product Launch
    • nCino aims to double its Annual Recurring Revenue (ARR) to $1 billion over the next five to six years and expects to achieve a Rule of 40 by Q4 next year.
    • The company is transitioning its pricing from a seat-based to an asset-based model, which formally started on February 1 and has already seen approximately 21% of its ACV convert.
    • nCino is a leader in commercial banking with a $5 billion Serviceable Addressable Market (SAM), having signed 15 of the top 30 U.S. banks.
    • The consumer and mortgage segments represent a $10 billion SAM, with the mortgage business growing 22% year-over-year last quarter.
    • AI, particularly through its Banking Advisor product, is a significant growth driver, with customers needing to be on the new asset-based model to access these capabilities.
    7 days ago
    nCino Outlines Growth Strategy and New Pricing Model
    ·$NCNO
    Revenue Acceleration/Inflection
    New Projects/Investments
    Guidance Update
    • nCino aims to double its Annual Recurring Revenue (ARR) to $1 billion over the next five to six years, having already tripled ARR since its July 2020 IPO.
    • The company transitioned to an asset-based pricing model effective February 1, moving away from a seat-based model to better align with customer efficiency gains and facilitate cross-selling; approximately 21% of ACV is already on this new model.
    • nCino is positioning itself as a leader in AI banking with its Banking Advisor generative AI strategy, which automates tasks like data validation and credit memo narratives, driving significant efficiency for banks.
    • In commercial banking, nCino holds a 50% logo share among the top 30 U.S. banks, including 15 of the top 30, and is expanding into the consumer and mortgage markets, which represent a combined $10 billion SAM.
    • nCino is committed to becoming a Rule of 40 company around the fourth quarter of next year (Q4 2025), having previously outlined a Rule of 50 framework with a 35% non-GAAP operating margin.
    7 days ago
    nCino Discusses Strong Q2 Performance, AI Strategy, and Financial Outlook
    ·$NCNO
    Guidance Update
    Product Launch
    Share Buyback
    • nCino reported strong second-quarter results, including a revenue beat and raise for the full-year guide, and expressed confidence in meeting or exceeding its annual ACV guide.
    • The company is strategically focused on AI, with over 80 customers having signed up for its Banking Advisor product, and AI is serving as a catalyst to accelerate adoption of its new platform pricing model, which currently covers 21% of its ACV.
    • Key growth drivers include the mortgage business, which grew 22% year-over-year last quarter with over 50% of that base on the new pricing model, and healthy activity in commercial lending, including a new logo in Spain and expansion with two large U.S. customers.
    • nCino is committed to achieving the Rule of 40 by the fourth quarter of next year and is actively executing a $100 million stock buyback program, with over $60 million completed through the second quarter.
    8 days ago
    nCino Discusses Strong Q2 Results, AI Strategy, and Growth Drivers at Goldman Sachs Conference
    ·$NCNO
    Guidance Update
    Product Launch
    Share Buyback
    • nCino reported strong second-quarter results, including a revenue beat and raise, and expressed confidence in meeting or exceeding its annual ACV guide.
    • The company is seeing tailwinds from deregulation and M&A activity in the banking sector, which historically benefits its scalable platform.
    • nCino is actively advancing its AI strategy, with over 80 customers signing up for Banking Advisor and plans to release agents next quarter; adoption of AI requires customers to transition to the new platform pricing model, which currently covers 21% of ACV.
    • The mortgage business has shown strong performance, growing 22% year-over-year last quarter and contributing $1.7 million in overperformance in Q2, with over 50% of this base now on the new platform pricing model.
    • The company is focused on execution, including a $100 million stock buyback (over $60 million executed through Q2) and aims to achieve Rule of 40 by Q4 next year, driven by growth and margin expansion.
    8 days ago
    nCino CFO Discusses Q2 Performance, AI Strategy, and Growth Initiatives
    ·$NCNO
    Guidance Update
    Product Launch
    Share Buyback
    • nCino reported strong second quarter results, including a beat and raise on revenue and a raised full-year guide, expressing confidence in meeting or exceeding its annual ACV guide. Deal activity has also improved significantly.
    • The company is focused on its AI strategy, having launched 16 new Banking Advisor skills with over 80 customers signed up, and plans to release agents next quarter. This AI technology is also a catalyst for accelerating customer adoption of the new platform pricing model.
    • nCino is transitioning its pricing model from seat-based to a platform model generally driven by assets at the financial institution, with 21% of ACV currently under this new model.
    • Key growth drivers include the mortgage business, which grew 22% year-over-year last quarter, and expansion in commercial lending, including new logos globally and deeper engagement with existing large customers.
    • nCino is committed to achieving the Rule of 40 by the fourth quarter of next year, prioritizing growth, and is executing a $100 million stock buyback, having completed over $60 million through Q2.
    8 days ago
    nCino Reports Strong Q2 Fiscal 2026 Revenue Growth and Operational Restructuring
    ·$NCNO
    Earnings
    Layoffs
    Demand Weakening
    • nCino reported strong financial results for the second quarter of fiscal year 2026, with total revenues reaching $148.8 million, a 12% year-over-year increase, and subscription revenues rising 15% to $130.8 million.
    • Despite a widened GAAP net loss of $(15.3) million, the company achieved a 56% increase in non-GAAP operating income and improved gross profit to $88.1 million.
    • The company implemented a restructuring plan that included a 7% workforce reduction and reductions in office space to improve operational efficiencies and manage costs effectively.
    • While management provided positive guidance for continued growth, particularly in subscription services and international markets, analysts anticipate a deceleration in revenue growth to approximately 4.9% over the next 12 months, indicating potential demand challenges.
    Aug 26, 2025, 8:28 PM
    nCino Highlights Strategic AI Initiatives and International Expansion
    ·$NCNO
    Revenue Acceleration/Inflection
    Product Launch
    M&A
    • nCino's leadership outlined plans to reaccelerate commercial growth by leveraging AI to automate complex banking workflows and introduce new banking advisor skills, targeting efficiency gains in loan origination processes.
    • The company is advancing its consumer and mortgage segments, highlighted by the integration of SimpleNexus to unify digital front-end experiences and a pricing model shift aimed at boosting ACV.
    • International expansion was emphasized with a focus on strengthening market presence in EMEA, Australia, and Japan through seasoned regional leadership and targeted partnerships.
    • Initiatives to shorten deployment times via preconfigured, AI-powered solutions underline nCino’s efforts to improve time-to-value and support revenue acceleration.
    Jun 10, 2025, 9:51 PM
    nCino outlines unified platform and AI strategy at BofA Global Tech Conference 2025
    ·$NCNO
    Product Launch
    M&A
    New Projects/Investments
    • Unified platform approach: nCino detailed its strategy to enhance banking efficiency across commercial, consumer, and mortgage segments by leveraging a comprehensive, integrated platform.
    • Strategic pricing and AI initiatives: The firm is transitioning from a seat-based model to a flat platform fee structure while unveiling advanced AI initiatives such as Banking Advisor and AgenTic to drive productivity and innovation.
    • Focused growth through integration: Emphasis was placed on sustainable growth, underpinned by recent M&A integration efforts and a clear path toward long-term revenue acceleration.
    Jun 5, 2025, 7:21 PM