nCino's strong performance in Q3 signals its ability to navigate market cycles and continue driving sustainable growth. The company's financial strength allows for ongoing investment and innovation in expanding its market leadership.
nCino reported a loss of $16.4 million, or 15 cents per share, in its fiscal third quarter.
Adjusted earnings were 14 cents per share, surpassing Wall Street expectations of 11 cents per share.
The company generated $121.9 million in revenue for the period, beating Street forecasts of $120.5 million.
Notable achievements include securing a deal with a $200 billion bank in the U.S. and acquiring its largest customer in Japan.
Despite high-interest rates, nCino's U.S. mortgage business achieved double-digit revenue growth.
For the current quarter ending in January, nCino expects earnings per share between 11 cents and 13 cents.
Revenue for the fiscal fourth quarter is projected to range from $123.5 million to $125.5 million.
Full-year earnings are expected to be between 40 cents and 42 cents per share, with revenue ranging from $476.5 million to $478.5 million.
nCino's impressive Q3 performance, with revenues and profitability surpassing expectations, highlights the company's ability to drive sustainable and profitable growth. With its solid financial position, nCino is well-positioned to continue investing and expanding its market leadership in the future.