10-Q · May 27, 2026
nCino, Inc. reported Q1 fiscal 2027 revenues of $159.4 million, surpassing estimates of $155.8 million. The Company faced an EPS miss with $0.12 against an estimated $0.24, but generated substantial free cash flow of…
Earnings analysis · 10-Q
NCNO earnings analysis
Filed August 25, 2026 · Our reading of the company's report
The latest report
nCino delivered a mixed quarter: revenue of $161.001 million beat consensus by approximately 1.2%, while diluted EPS of $0.05 missed the $0.23 estimate. GAAP operating margin was 8.0% and free cash flow was $34.0…
Read full summary
nCino delivered a mixed quarter: revenue of $161.001 million beat consensus by approximately 1.2%, while diluted EPS of $0.05 missed the $0.23 estimate. GAAP operating margin was 8.0% and free cash flow was $34.0 million, while fiscal 2027 revenue guidance was raised to $644.0 million-$647.0 million. The balance sheet remains a concern, with $276.0 million of debt against $83.6 million of cash, cash equivalents, and restricted cash.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.05
- Operating margin
- 8.0%
What stood out
-
Revenue exceeded consensus
Revenue was $161.001 million, approximately 1.2% above the $159.140 million consensus estimate and up from $150 million in the prior comparable period provided.
-
GAAP profitability improved
GAAP operating margin improved to 8.0%, versus negative operating margins in several earlier periods, including -4.1% in 2025Q4 and -1.1% in 2026Q1.
-
Free cash flow remained positive
Free cash flow was $34.0 million, compared with $12 million in 2026Q4 and -$10 million in 2025Q4 in the provided quarterly history.
-
Full-year revenue outlook raised
Fiscal 2027 revenue guidance increased to $644.0 million-$647.0 million from $642.0 million-$646.0 million previously.
-
Controls remained effective
Disclosure controls and procedures were concluded to be effective at July 31, 2026, and management reported no material change in internal control over financial reporting during the quarter.
What to watch
-
Material EPS miss
Diluted EPS was $0.05 versus the $0.23 consensus estimate, a shortfall of $0.18 per share, despite the $161.001 million revenue result.
-
Debt substantially exceeds liquidity
Outstanding principal debt was $276.0 million versus cash, cash equivalents, and restricted cash of $83.6 million at July 31, 2026, leaving gross debt $192.4 million above reported liquidity.
-
Unhedged foreign-exchange exposure
A hypothetical 10% change in foreign-currency exchange rates would have affected cash, cash equivalents, and restricted cash by approximately $4.4 million at July 31, 2026; the company has not engaged in foreign-currency hedging to date.
-
Minimal remaining repurchase capacity
The company had only approximately $23 thousand remaining under its announced repurchase program after purchasing 4,704,528 shares in June 2026, limiting remaining buyback capacity.
Management's outlook
Fiscal 2027 revenue outlook was raised to $644.0 million-$647.0 million from $642.0 million-$646.0 million. The outlook also includes non-GAAP operating income of $171.0 million-$174.0 million, free cash flow of $137.0 million-$142.0 million, and period-end ACV of $662.5 million-$667.5 million.
Earlier filings 4
10-K · March 31, 2026
nCino, Inc. reported strong revenue growth in fiscal 2026, achieving $594.8 million, a 10% increase from $540.7 million in fiscal 2025, driven by expanding subscription revenues. The company turned a profit with a net…
10-Q · December 3, 2025
nCino, Inc. posted strong results for Q3 2025 with a revenue increase of 9.6% year-over-year to $152.2 million, surpassing estimates. EPS also surprised positively at $0.31, compared to the previous year's loss,…
10-Q · August 26, 2025
nCino, Inc. reported a robust performance for Q2 2026, with revenues of $148.4 million, marking a 12.4% increase year-over-year. EPS came in significantly higher at $0.22 compared to last year's loss, highlighting a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.