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nCino Inc. (NCNO-1.32%) has submitted its 10-K filing for the fiscal year ended January 31, 2025.
The filing details nCino's financial performance, highlighting total revenues of $540.7 million, an increase from $476.5 million in the previous year. Subscription revenues accounted for $469.2 million of the total, up from $409.5 million in the prior year.
The company reported a net loss of $33.0 million for the fiscal year, compared to a net loss of $43.5 million in the previous year. This decrease in net loss is attributed to increased revenues and controlled operating expenses.
nCino's subscription revenue net retention rate was 110% for the fiscal year, reflecting growth from existing customers. The company also reported an ACV net retention rate of 106%, indicating successful customer expansion within and across business lines.
The report outlines nCino's strategic acquisitions during the year, including DocFox, ILT, and FullCircl, which contributed to the company's expanded product offerings and market presence.
nCino continues to focus on integrating AI into its platform to enhance decision-making and efficiency for financial institutions. The company plans to leverage its recent acquisitions to further this goal.
The filing also discusses nCino's revolving credit facility, which increased to $250.0 million during the fiscal year. As of January 31, 2025, the company had $166.0 million outstanding under this facility.
nCino's management emphasizes its commitment to innovation and growth, with plans to invest in product development and international expansion to capture additional market share.
The company acknowledges the impact of fluctuating interest rates and inflationary pressures on its business, particularly affecting its mortgage-related products.
nCino's report includes a detailed discussion of risks, including competition, data security, and regulatory compliance, which could affect its future operations and financial results.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the nCino Inc. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.