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nCino Inc. (NCNO-3.51%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports total revenues of $138.8 million for the quarter, an increase from $121.9 million in the same quarter the previous year. Subscription revenues were $119.9 million, up from $104.8 million, while professional services and other revenues were $18.9 million, compared to $17.2 million.
Cost of revenues for the quarter was $53.7 million, resulting in a gross profit of $85.1 million. Operating expenses totaled $85.9 million, leading to a loss from operations of $0.8 million.
The company reported a net loss attributable to nCino, Inc. of $5.3 million for the quarter, compared to a net loss of $16.4 million in the previous year.
Cash provided by operating activities was $65.2 million for the nine months ended October 31, 2024, while cash used in investing and financing activities was $92.8 million and $168.4 million, respectively.
nCino had a cash and cash equivalents balance of $257.9 million as of October 31, 2024. The company also reported $166.0 million outstanding under its credit facility.
The filing details the acquisition of DocFox, Inc. and Integrated Lending Technologies, LLC during the fiscal year, as well as the subsequent acquisition of Artesian Solutions Limited, operating as FullCircl.
nCino continues to focus on expanding its customer base and enhancing its product offerings, with significant investments in research and development and sales and marketing.
The company identified no material changes in its risk factors from those disclosed in its previous filings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the nCino Inc. quarterly 10-Q report dated December 4, 2024. To report an error, please email earnings@qz.com.