Ncino, Inc. Stock Price, News & Analysis

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.

nCino, Inc. (NASDAQ: NCNO) announces that nbkc has successfully implemented its Commercial Pricing and Profitability solutions as part of the nCino Bank Operating System®. With this launch, nbkc aims to enhance online relationship banking, streamline processes, and improve profitability metrics. The solution promises to reduce financial statement processing times by up to 75%, leveraging automated data extraction technologies. This collaboration positions nbkc to adapt to evolving digital banking demands and improve customer experience.

nCino (NASDAQ: NCNO) has appointed Chris Ainsworth as its first Chief People Officer, joining the Executive Leadership Team. Ainsworth brings over 25 years of experience in human resources across various financial sectors, including roles at CFA Institute and TD Bank. His responsibilities will include overseeing global talent functions, with a focus on recruiting, employee training, and diversity initiatives. CEO Pierre Naudé emphasized the importance of Ainsworth's experience in attracting and retaining top talent to support nCino's growth in cloud banking.

nCino (NASDAQ: NCNO) announced the winners of its Financial Services Impact Awards at nSight 2022, recognizing three customers for their significant achievements with the nCino Bank Operating System.

The winners include: Texas Farm Credit for Innovation (reducing onboarding time from 1 year to 2 weeks), Great Southern Bank for Reputation (decreasing data re-keying from 8 to 2 times), and Natixis CIB for Speed (automating the capture of financial statement data). The awards highlight the transformative impact of nCino's digital solutions on customer operations.

SimpleNexus, a company under nCino (NASDAQ: NCNO), announced that Family First Funding, an independent mortgage bank, has adopted its Nexus Engagement, Nexus Origination, and Nexus Closing platforms. This implementation enhances the homebuying experience with a streamlined, single sign-on, mobile-first solution accessible from anywhere. Family First Funding aims to elevate its brand and improve operational efficiency for its 200 loan officers, allowing them to quickly provide pre-approval letters and better manage client relationships.

nCino reported total revenues of $94.2 million for Q1 FY2023, a 51% increase year-over-year. Subscription revenues reached $79.2 million, up 55% year-over-year, boosted by the acquisition of SimpleNexus. However, the company posted a GAAP net loss of $30.7 million, compared to $15 million in the same quarter last year. The Remaining Performance Obligation (RPO) increased 48% to $905.6 million. For Q2, nCino forecasts total revenues between $97 million and $98 million and a net loss per share of ($0.08) to ($0.09).