Ncino, Inc. Stock Price, News & Analysis

nCino (NASDAQ: NCNO) announces that TruePillars, an Australian SME lender, is now utilizing the nCino Bank Operating System®. The implementation, completed in just 12 weeks with the help of KPMG Australia, allows TruePillars to scale efficiently, enhancing loan origination and approvals. TruePillars aims to improve customer experience while maintaining strong credit oversight. This partnership reflects nCino's commitment to transforming financial services through innovative cloud solutions.

nCino reported total revenues of $66.5 million for Q2 FY2022, reflecting a 36% increase year-over-year. Subscription revenues reached $53.9 million, up 37% year-over-year, with international revenues skyrocketing 129%. The Total Remaining Performance Obligation rose to $707 million, a 55% increase. Despite revenue growth, GAAP net loss was ($13.7 million), improving from the prior year. The company expects Q3 revenues between $66 million and $67 million and projects a fiscal year revenue between $263 million and $264 million.

nCino has announced several key executive promotions to enhance its leadership team, aiming to support ongoing growth. Josh Glover has been promoted to President and Chief Revenue Officer, achieving $204 million in revenue for FY2021, a 48% increase. Greg Orenstein takes on the role of Chief Corporate Development & Strategy Officer, while Trisha Price is named Chief Innovation Officer. Additional promotions include Josh Marcy as Executive VP, Product Management; Dory Weiss as Executive VP, Engineering; and April Rieger as Executive VP, General Counsel & Secretary. These changes reflect the company’s strategic growth plans.

nCino, a leader in cloud banking solutions, announced that Wells Fargo has chosen its Bank Operating System to enhance its digital transformation in commercial banking operations. With approximately $1.9 trillion in assets, Wells Fargo aims to streamline its commercial lending processes, improving efficiency and collaboration across its financial services. The partnership is expected to provide a unified platform that fosters better client experiences and operational speed. Both companies highlight the growing importance of digital-first solutions in meeting client needs.

nCino, a pioneer in cloud banking solutions, will participate in the Middle East Banking Innovation Summit Plus 2021 on September 15-16 in Dubai, UAE. This premier event will gather financial sector experts to discuss digital transformation in banking. nCino will showcase its cloud banking innovations at the Banking Innovation Lounge, addressing how the pandemic has shifted priorities for Middle Eastern banks. According to Davis Brannan, nCino's EVP, the company supports the transition to cloud banking, emphasizing its role in enhancing operational efficiency and client experience.

nCino, Inc. (NASDAQ: NCNO) has partnered with Denmark's new business bank, kompasbank, which operates using the nCino Bank Operating System. This cloud-based platform enables kompasbank to enhance SME growth by providing a flexible and scalable banking experience. The bank aims to deliver efficient digital services, improving client engagement and loan transparency. nCino's expertise supports kompasbank's entry into the market, showcasing its commitment to innovation in financial services.

nCino (NASDAQ: NCNO) announced the successful implementation of its Bank Operating System at WestStar Bank, a $2.5 billion asset institution, improving loan origination and operational efficiency. The collaboration with Enforce Consulting enabled WestStar to transition from outdated systems to a comprehensive, cloud-based platform within months. This system optimizes workflows, enhances customer relationships, and empowers over 330 employees. WestStar plans to further adopt nCino’s Retail Banking Solution later this year.

nCino (NASDAQ: NCNO) will report its fiscal Q2 2022 financial results on September 1, 2021, after market close. A conference call is scheduled at 4:30 p.m. ET to discuss the results. The company, a leader in cloud banking solutions, aims to empower financial institutions with technology to enhance efficiency and compliance. Currently, nCino serves over 1,200 financial organizations worldwide, managing assets from $30 million to over $2 trillion. Investors can access the webcast via nCino's Investor Relations website.