nCino, Inc. (NASDAQ: NCNO) is a cloud-based provider of intelligent banking solutions focused on helping financial institutions streamline operations and enhance customer experiences. It serves a diverse range of clients, including community banks, credit unions, and some of the largest banks globally. The company is positioned in a phase of growth, witnessing substantial financial performance in its latest quarterly results.

For the first quarter of fiscal 2026, nCino reported total revenues of $144.1 million, representing a 13% increase from $128.1 million in the same quarter a year ago. Subscription revenues reached $125.6 million, up 14% from $110.4 million year-over-year. The company’s non-GAAP operating income was $24.8 million, a slight increase from $24.4 million in Q1 FY25, reflecting solid demand for its subscription services.

The non-GAAP net income attributable to nCino was $18.4 million, equivalent to $0.16 per diluted share, compared to $22.8 million or $0.20 per diluted share in the prior year’s quarter. This decrease in net income is attributable to factors influencing operational expenses and project execution improvements.

nCino’s professional services revenues also showed growth, totaling $18.5 million, a 5% increase year-over-year. International revenues were particularly strong, standing at $31.6 million, up 22% year-over-year or 23% when adjusted for constant currency.

The company reported a non-GAAP operating margin of 17% for the quarter. Following a restructuring plan affecting 7% of its workforce, nCino anticipates approximately $24 million in gross annualized expense savings, which is expected to enhance future operational efficiency.

Looking ahead, for the second quarter of fiscal 2026, nCino expects total revenues to be between $142 million and $144 million, with subscription revenues anticipated in the range of $124.5 million to $126.5 million. The guidance for non-GAAP operating income is projected between $23.5 million and $24.5 million.

For the full fiscal year 2026, the company is reiterating its total revenue guidance of $578.5 million to $582.5 million and subscription revenues between $507 million and $511 million, anticipating approximately 8.5% growth at the midpoint of the range. The updated forecast reflects nCino’s commitment to enhancing its operations and strategic outputs.

In addition, nCino repurchased approximately 1.8 million shares during the first quarter at an average price of $22.17, totaling a consideration of $40.6 million. The company’s liquidity position remains strong with cash, cash equivalents, and restricted cash at $133.6 million as of April 30, 2025.