Ncino, Inc. Financials
This page shows Ncino, Inc. (NCNO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
nCino’s software model finally turned profitable as cash conversion improved faster than accounting earnings.
Across the recent period, free cash flow rose from$53.8M to$82.6M , showing the business became meaningfully cash-generative before GAAP profit fully arrived. By FY2026, net income was only$9.7M while the current ratio sat at 1.0x, so stronger operations are now paired with a much slimmer short-term liquidity buffer and less room for collection delays.
Gross margin stayed near
Accounts receivable climbed about
Financial Health Signals
Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ncino, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ncino, Inc. has an operating margin of 0.6%, meaning the company retains $1 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from -3.4% the prior year.
Ncino, Inc.'s revenue grew 10.0% year-over-year to $594.8M, a solid pace of expansion. This earns a growth score of 69/100.
Ncino, Inc. has elevated debt relative to equity (D/E of 0.26), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 19/100, reflecting increased financial risk.
Ncino, Inc.'s current ratio of 0.89 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Ncino, Inc. converts 13.9% of revenue into free cash flow ($82.6M). This strong cash generation earns a score of 73/100.
Ncino, Inc.'s ROE of 1.0% shows moderate profitability relative to equity, earning a score of 35/100. This is up from -3.1% the prior year.
Ncino, Inc. scores 1.83, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($1.9B) relative to total liabilities ($623.4M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ncino, Inc. passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Ncino, Inc. generates $9.28 in operating cash flow ($90.1M OCF vs $9.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ncino, Inc. earns $0.2 in operating income for every $1 of interest expense ($3.7M vs $17.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Ncino, Inc. generated $594.8M in revenue in fiscal year 2026. This represents an increase of 10.0% from the prior year.
Ncino, Inc.'s EBITDA was $46.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 152.5% from the prior year.
Ncino, Inc. reported $9.7M in net income in fiscal year 2026. This represents an increase of 129.4% from the prior year.
Ncino, Inc. earned $0.05 per diluted share (EPS) in fiscal year 2026. This represents an increase of 115.2% from the prior year.
Cash & Balance Sheet
Ncino, Inc. generated $82.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 54.7% from the prior year.
Ncino, Inc. held $102.8M in cash against $253.0M in long-term debt as of fiscal year 2026.
Ncino, Inc. had 115M shares outstanding in fiscal year 2026. This represents a decrease of 1.6% from the prior year.
Margins & Returns
Ncino, Inc.'s gross margin was 60.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.
Ncino, Inc.'s operating margin was 0.6% in fiscal year 2026, reflecting core business profitability. This is up 4.0 percentage points from the prior year.
Ncino, Inc.'s net profit margin was 1.6% in fiscal year 2026, showing the share of revenue converted to profit. This is up 7.7 percentage points from the prior year.
Ncino, Inc.'s ROE was 1.0% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 4.1 percentage points from the prior year.
Capital Allocation
Ncino, Inc. invested $127.5M in research and development in fiscal year 2026. This represents a decrease of 1.5% from the prior year.
Ncino, Inc. spent $125.1M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding.
Ncino, Inc. invested $7.5M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 313.1% from the prior year.
NCNO Income Statement
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $159.4M+6.5% | $149.7M-1.6% | $152.2M+2.2% | $148.8M+3.2% | $144.1M+2.0% | $141.4M+1.9% | $138.8M+4.8% | $132.4M |
| Cost of Revenue | $58.5M+1.3% | $57.8M-1.2% | $58.5M-3.6% | $60.7M+5.2% | $57.7M+1.2% | $57.0M+6.1% | $53.7M-0.3% | $53.9M |
| Gross Profit | $100.9M+9.8% | $91.9M-1.9% | $93.7M+6.3% | $88.1M+1.9% | $86.4M+2.5% | $84.4M-0.8% | $85.1M+8.4% | $78.5M |
| R&D Expenses | $28.9M-3.7% | $30.0M+1.5% | $29.5M-14.8% | $34.7M+4.0% | $33.3M+3.8% | $32.1M-2.7% | $33.0M-3.6% | $34.3M |
| SG&A Expenses | $17.2M-33.5% | $25.9M+34.0% | $19.3M-24.2% | $25.5M+17.8% | $21.6M-10.6% | $24.2M+4.8% | $23.1M+13.3% | $20.4M |
| Operating Income | $21.1M+648.9% | $2.8M-75.9% | $11.7M+226.0% | -$9.3M-514.4% | -$1.5M+73.6% | -$5.7M-596.4% | -$824K+89.6% | -$7.9M |
| Interest Expense | $4.5M+6.0% | $4.2M-2.5% | $4.3M-2.5% | $4.4M-0.1% | $4.5M+17.2% | $3.8M+129.8% | $1.7M-9.9% | $1.8M |
| Income Tax | $1.7M+120.9% | -$8.0M-1057.4% | -$695K-157.5% | $1.2M-73.3% | $4.5M+217.1% | -$3.9M-249.5% | $2.6M+47.7% | $1.8M |
| Net Income | $13.6M+6.1% | $12.9M+96.7% | $6.5M+142.9% | -$15.3M-374.3% | $5.6M+140.4% | -$13.8M-162.4% | -$5.3M+52.4% | -$11.0M |
| EPS (Diluted) | $0.12 | N/A | $0.06+146.2% | $-0.13-360.0% | $0.05 | N/A | $-0.05+50.0% | $-0.10 |
NCNO Balance Sheet
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.6B-2.4% | $1.6B+5.6% | $1.6B-3.4% | $1.6B-2.1% | $1.7B+2.5% | $1.6B+6.2% | $1.5B+7.7% | $1.4B |
| Current Assets | $267.4M-8.9% | $293.5M+40.3% | $209.2M-18.0% | $255.1M-6.8% | $273.7M-9.5% | $302.2M-13.3% | $348.6M+52.4% | $228.8M |
| Cash & Equivalents | $102.8M+16.3% | $88.4M+0.9% | $87.6M-28.8% | $122.9M-7.7% | $133.2M+10.2% | $120.9M-53.1% | $257.9M+112.4% | $121.4M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $124.7M-25.1% | $166.5M+91.5% | $86.9M-11.7% | $98.5M-5.7% | $104.4M-28.9% | $146.8M+125.8% | $65.0M-17.5% | $78.8M |
| Goodwill | $1.1B-0.2% | $1.1B+0.6% | $1.1B0.0% | $1.1B-0.9% | $1.1B+6.0% | $1.0B+12.2% | $908.6M+0.1% | $908.0M |
| Total Liabilities | $623.4M+7.6% | $579.5M+14.2% | $507.3M-7.6% | $548.9M-3.7% | $570.0M+11.2% | $512.8M+21.2% | $423.1M+28.3% | $329.8M |
| Current Liabilities | $299.9M+1.8% | $294.5M+41.5% | $208.1M-16.3% | $248.6M-4.6% | $260.7M+3.7% | $251.5M+40.6% | $178.9M-15.2% | $211.0M |
| Long-Term Debt | $253.0M+18.5% | $213.5M | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $970.4M-8.1% | $1.1B+1.4% | $1.0B-1.5% | $1.1B-1.4% | $1.1B-1.6% | $1.1B+0.1% | $1.1B+1.2% | $1.1B |
| Retained Earnings | -$361.4M+3.8% | -$375.8M+2.2% | -$384.4M+2.2% | -$393.0M-3.6% | -$379.4M+1.5% | -$385.3M-4.2% | -$369.8M-1.1% | -$365.9M |
NCNO Cash Flow Statement
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $81.4M+529.2% | $12.9M+155.1% | $5.1M-71.4% | $17.7M-67.3% | $54.3M+642.2% | -$10.0M-273.4% | $5.8M+15.6% | $5.0M |
| Capital Expenditures | $614K+33.2% | $461K+164.9% | $174K-96.6% | $5.1M+199.7% | $1.7M+390.9% | $350K-48.5% | $680K+53.2% | $444K |
| Free Cash Flow | $80.8M+547.5% | $12.5M+154.8% | $4.9M-61.1% | $12.6M-76.1% | $52.6M+607.3% | -$10.4M-303.4% | $5.1M+11.9% | $4.6M |
| Investing Cash Flow | -$614K-33.2% | -$461K-164.9% | -$174K+96.6% | -$5.1M+89.3% | -$48.3M+61.8% | -$126.4M-15131.6% | -$830K-19.3% | -$696K |
| Financing Cash Flow | -$65.9M-398.5% | -$13.2M+66.6% | -$39.6M-76.7% | -$22.4M-1097.1% | $2.3M+10.3% | $2.0M-98.4% | $125.3M+1077.1% | -$12.8M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $110.1M+340.0% | $25.0M-36.6% | $39.5M+97.3% | $20.0M-50.7% | $40.6M | $0 | $0 | $0 |
NCNO Financial Ratios
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.3%+1.9pp | 61.4%-0.2pp | 61.6%+2.4pp | 59.2%-0.8pp | 60.0%+0.3pp | 59.7%-1.6pp | 61.3%+2.0pp | 59.3% |
| Operating Margin | 13.3%+11.4pp | 1.9%-5.8pp | 7.7%+14.0pp | -6.3%-5.2pp | -1.1%+3.0pp | -4.1%-3.5pp | -0.6%+5.4pp | -6.0% |
| Net Margin | 8.6%-0.0pp | 8.6%+4.3pp | 4.3%+14.5pp | -10.3%-14.1pp | 3.9%+13.6pp | -9.8%-6.0pp | -3.8%+4.6pp | -8.3% |
| Return on Equity | 1.4%+0.2pp | 1.2%+0.6pp | 0.6%+2.1pp | -1.4%-2.0pp | 0.5%+1.8pp | -1.3%-0.8pp | -0.5%+0.6pp | -1.0% |
| Return on Assets | 0.9%+0.1pp | 0.8%+0.4pp | 0.4%+1.4pp | -0.9%-1.3pp | 0.3%+1.2pp | -0.9%-0.5pp | -0.4%+0.4pp | -0.8% |
| Current Ratio | 0.89-0.1 | 1.000.0 | 1.01-0.0 | 1.03-0.0 | 1.05-0.2 | 1.20-0.7 | 1.95+0.9 | 1.08 |
| Debt-to-Equity | 0.26+0.1 | 0.20-0.3 | 0.49-0.0 | 0.52-0.0 | 0.53+0.1 | 0.47+0.1 | 0.39+0.1 | 0.31 |
| FCF Margin | 50.7%+42.3pp | 8.3%+5.1pp | 3.2%-5.2pp | 8.5%-28.0pp | 36.5%+43.8pp | -7.3%-11.0pp | 3.7%+0.2pp | 3.4% |
Note: The current ratio is below 1.0 (0.89), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Ncino, Inc.'s annual revenue?
Ncino, Inc. (NCNO) reported $594.8M in total revenue for fiscal year 2026. This represents a 10.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ncino, Inc.'s revenue growing?
Ncino, Inc. (NCNO) revenue grew by 10% year-over-year, from $540.7M to $594.8M in fiscal year 2026.
Is Ncino, Inc. profitable?
Yes, Ncino, Inc. (NCNO) reported a net income of $9.7M in fiscal year 2026, with a net profit margin of 1.6%.
What is Ncino, Inc.'s EBITDA?
Ncino, Inc. (NCNO) had EBITDA of $46.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ncino, Inc. have?
As of fiscal year 2026, Ncino, Inc. (NCNO) had $102.8M in cash and equivalents against $253.0M in long-term debt.
What is Ncino, Inc.'s gross margin?
Ncino, Inc. (NCNO) had a gross margin of 60.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ncino, Inc.'s operating margin?
Ncino, Inc. (NCNO) had an operating margin of 0.6% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Ncino, Inc.'s net profit margin?
Ncino, Inc. (NCNO) had a net profit margin of 1.6% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Ncino, Inc.'s return on equity (ROE)?
Ncino, Inc. (NCNO) has a return on equity of 1.0% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Ncino, Inc.'s free cash flow?
Ncino, Inc. (NCNO) generated $82.6M in free cash flow during fiscal year 2026. This represents a 54.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ncino, Inc.'s operating cash flow?
Ncino, Inc. (NCNO) generated $90.1M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Ncino, Inc.'s total assets?
Ncino, Inc. (NCNO) had $1.6B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Ncino, Inc.'s capital expenditures?
Ncino, Inc. (NCNO) invested $7.5M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Ncino, Inc. spend on research and development?
Ncino, Inc. (NCNO) invested $127.5M in research and development during fiscal year 2026.
What is Ncino, Inc.'s current ratio?
Ncino, Inc. (NCNO) had a current ratio of 0.89 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is Ncino, Inc.'s debt-to-equity ratio?
Ncino, Inc. (NCNO) had a debt-to-equity ratio of 0.26 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ncino, Inc.'s return on assets (ROA)?
Ncino, Inc. (NCNO) had a return on assets of 0.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Ncino, Inc.'s Altman Z-Score?
Ncino, Inc. (NCNO) has an Altman Z-Score of 1.83, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ncino, Inc.'s Piotroski F-Score?
Ncino, Inc. (NCNO) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ncino, Inc.'s earnings high quality?
Ncino, Inc. (NCNO) has an earnings quality ratio of 9.28x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ncino, Inc. cover its interest payments?
Ncino, Inc. (NCNO) has an interest coverage ratio of 0.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ncino, Inc.?
Ncino, Inc. (NCNO) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.