Ncino, Inc. Stock Price, News & Analysis

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).

BOK Financial has successfully implemented the nCino Bank Operating System, enhancing operational efficiency and client relationships for its commercial banking division. This initiative supports BOK Financial's $50 billion asset base by streamlining the loan origination and management process. The transition was completed on time and within budget, thanks to collaboration between nCino and Deloitte. The new system is expected to improve decision-making and reporting capabilities, solidifying BOK Financial’s digital transformation journey.

SimpleNexus, a company under nCino (NASDAQ: NCNO), has successfully implemented its Nexus Engagement and Nexus Origination platforms at AnnieMac Home Mortgage. This rollout enhances collaboration for over 250 loan originators, allowing them to manage workflows efficiently both remotely and at nearly 100 branch locations. The mobile-first tools aim to improve recruitment and productivity in a competitive market, aligning with AnnieMac's commitment to investing in value-added technologies.

nCino (NASDAQ: NCNO) announced its participation in two upcoming investor conferences. The Bernstein 38th Annual Strategic Decisions Conference will take place on June 3, starting at 10:00 a.m. ET. Additionally, nCino will present at the Morgan Stanley US Financials, Payments & CRE Conference on June 15, at 1:45 p.m. ET.

Live webcasts and replays will be available on their Investor Relations website.

nCino (NASDAQ: NCNO), a leader in cloud banking solutions, will announce its first quarter fiscal year 2023 financial results on June 1, 2022, after market closure. The company will hold a conference call at 4:30 p.m. ET to discuss these results. nCino's platform provides financial institutions with advanced technology to enhance efficiency, compliance, and client experience, serving over 1,750 customers globally. Investors can access a replay of the webcast on their website after the call.

nCino (NASDAQ: NCNO) announces its tenth annual nSight user conference to be held in Raleigh, N.C. from June 7-9, 2022, with over 1,200 attendees expected. The in-person event aims to address strategic trends in financial services, featuring 20 breakout sessions and various keynotes from industry leaders. Notably, the conference will include programming on modern mortgage lending due to the recent acquisition of SimpleNexus. CEO Pierre Naudé expresses excitement about returning to in-person interactions after two years of virtual conferences.