Ncino, Inc. Stock Price, News & Analysis

nCino reported a strong second quarter of fiscal 2023, with total revenues of $99.6 million, reflecting a 50% year-over-year increase. Subscription revenues reached $84.4 million, a 57% rise, while organic subscription revenues grew 29% to $69.4 million. However, the company posted a GAAP loss from operations of ($25.0 million) compared to ($13.2 million) last year. For Q3, nCino anticipates revenues between $103 million and $104 million and a non-GAAP net loss per share between ($0.02) and ($0.03).

nCino (NASDAQ: NCNO) has partnered with Rabobank Australia and New Zealand (RANZ) to implement the nCino Bank Operating System, enhancing financial spreading analysis through its Automated Spreading solution, which utilizes AI and machine learning. This collaboration aims to improve banking services for RANZ’s Australian and New Zealand customers by automating processes, thereby freeing up staff to focus on customer relationships. RANZ is one of the largest agricultural lenders in the region, and this partnership signifies a commitment to digital transformation and improved service delivery.

nCino (NASDAQ: NCNO) announced its participation in the Piper Sandler Growth Frontiers Conference, scheduled for Tuesday, September 13, at 3:20 p.m. ET. The event highlights nCino's leadership in cloud banking and digital transformation for financial institutions.

Investors can access the live webcast and replay on the Company's Investor Relations website. nCino provides a Bank Operating System that enhances efficiency, revenue growth, and compliance for over 1,750 global financial institutions.

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), has partnered with Approved Mortgage, Indiana's oldest and largest locally owned mortgage bank, to implement its advanced homeownership platform. This collaboration aims to offer a mobile-first experience, enhancing services for clients and real estate professionals. Approved Mortgage has funded over $6.5 billion in loans and will leverage SimpleNexus' features to streamline processes and improve client interactions. The integration is expected to help Approved Mortgage remain competitive in a market increasingly dominated by tech-savvy consumers, ensuring efficient homebuying.

nCino (NASDAQ: NCNO) subsidiary SimpleNexus announces the implementation of its Nexus Engagement and Nexus Origination platforms by Angel Oak Home Loans. This collaboration aims to enhance the mortgage application process for a diverse range of borrowers through a mobile-first solution. The new platform features a customized loan application catering to both agency and non-qualified mortgage lending, improving efficiency for loan originators. Angel Oak emphasizes the importance of technology in optimizing borrower experiences, highlighting their commitment to diverse financial backgrounds.

nCino (NASDAQ: NCNO) has announced that it will report its financial results for the second quarter ended July 31, 2022, after the market close on September 1, 2022. A conference call and webcast will follow at 4:30 p.m. ET to discuss the results. nCino is recognized as a leader in cloud banking, providing advanced digital transformation solutions for financial institutions globally. The company aims to enhance operational efficiency and regulatory compliance with its Bank Operating System.

nCino (NASDAQ: NCNO) announced new executive leadership appointments to enhance growth and innovation in its cloud banking solutions. Matt Hansen becomes Chief Product Officer, bringing a decade of experience from SimpleNexus. Jaime Punishill is appointed Chief Market Officer, transitioning from Lionbridge, while Ben Miller steps up as CEO of SimpleNexus, succeeding Cathleen Schreiner Gates. These changes aim to bolster nCino's market leadership and drive further revenue growth. nCino continues its commitment to transforming the financial services industry with its Bank Operating System.

nCino (NASDAQ: NCNO) has announced the successful implementation of its Bank Operating System at ASB, one of New Zealand's largest banks. ASB, which manages assets worth $98 billion USD, sought to streamline its lending processes and consolidate 16 legacy systems into a single platform. The deployment aims to enhance efficiency, compliance, and customer service, allowing bankers to focus more on client needs. Initial feedback from ASB's pilot users has been positive, with the first loan approval completed shortly post-launch.

SimpleNexus, a subsidiary of nCino (NASDAQ: NCNO), announced that OSB Community Bank has implemented its Nexus Closing solution to streamline hybrid home closing processes. This enhances the bank's existing tools, Nexus Engagement and Nexus Origination, facilitating a seamless experience for borrowers from application through closing. OSB Community Bank has significantly increased its annual mortgage volume from $12 million to $125 million over six years, attributing this growth to SimpleNexus’ digital solutions, which improve efficiency and connectivity throughout the loan lifecycle.