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ilincino 0 nCino Reports Second Quarter Fiscal Year 2022 Financial Results September 1 , 2021 • Total Revenues of $ 66.5M , up 36 % year - over - year Subscription Revenues of $ 53.9M , up 37 % year - over - year • Total Remaining Performance Obligation of $ 707 million , up 55 % year - over - year WILMINGTON , N.C. , Sept. 01 , 2021 ( GLOBE NEWSWIRE ) -- nCino , Inc. ( NASDAQ : NCNO ) , a pioneer in cloud banking and digital transformation solutions for the global financial services industry , today announced financial results for its second quarter of fiscal year 2022 ended July 31 , 2021 . " We are extremely pleased with the results of our second quarter , which include 37 % year - over year growth in subscription revenues , 129 % year - over - year growth in international revenues , and record second quarter sales , " said Pierre Naudé , CEO of nCino . " In addition , today we announced that Wells Fargo , one of the top four banks in the U.S. , has selected nCino to digitally transform its commercial lending operations . This growth across the U.S. and our non - U.S . markets illustrates that financial institutions of all sizes , all around the world , continue to embrace the nCino platform as part of their transition to a digital , client - first strategy . " Naudé continued , " To structure the organization for further growth and scale , today we also announced a number of promotions and new positions across our executive leadership team . Even with the success we've achieved thus far , nCino is still in the very early stages of digitally transforming the global financial services industry and I am confident we are well - positioned to address the opportunity ahead of us . " Financial Highlights • Revenues : Total revenues for the second quarter were $ 66.5 million , a 36 % increase from $ 48.8 million in the second quarter of fiscal 2021. Subscription revenues for the second quarter were $ 53.9 million , up from $ 39.4 million one year ago , an increase of 37 % . Non - U.S . revenues were $ 10.8 million or 16 % of total revenues in the second quarter , up 129 % year over year . • Loss from Operations : GAAP loss from operations in the second quarter was ( $ 13.2 ) million compared to ( $ 15.7 ) million in the same quarter of fiscal 2021. Non - GAAP operating loss in the second quarter was ( $ 1.8 ) million compared to ( $ 1.6 ) million in the second quarter of fiscal 2021 . • Net Loss Attributable to nCino : GAAP net loss attributable to nCino in the second quarter was ( $ 13.7 ) million compared to ( $ 14.6 ) million in the second quarter of fiscal 2021. Non - GAAP net loss attributable to nCino in the second quarter was ( $ 2.3 ) million compared to ( $ 0.6 ) million in the second quarter of fiscal 2021 . • Net Loss Attributable to nCino per Share : GAAP net loss attributable to nCino in the second quarter was ( $ 0.14 ) per share compared to ( $ 0.17 ) per share in the second quarter of fiscal 2021. Non - GAAP net loss attributable to nCino in the second quarter was ( $ 0.02 ) per share compared to ( $ 0.01 ) per share in the second quarter of fiscal 2021 . • Remaining Performance Obligation : Total Remaining Performance Obligation as of July 31 , 2021 was $ 707 million , an increase of 55 % compared to the second quarter of fiscal 2021 . • Cash : Cash and cash equivalents were $ 399.4 million as of July 31 , 2021 . Recent Business Highlights • Signed a new Commercial Banking Lending deal with Wells Fargo , one of the top four banks in the U.S. with approximately $ 1.9 trillion in assets . • Expanded our relationship with U.S. Bank , the fifth largest bank in the U.S. with assets greater than $ 540 billion , to transform its wholesale bank lending experience . • Signed our first customer in France , a subsidiary of one of the largest banking groups in - country , which will use the nCino Bank Operating System® to accelerate its credit process and improve efficiency . • Signed nine new customers for Automated Spreading , part of our nIQ platform . • Closed a new agreement for multiple lines of business with a top 50 bank in the U.S. , with assets greater than $ 75 billion , as well as a multi - year expansion with a top 20 bank in the U.S. , with assets greater than $ 180 billion . • Announced a number of executive promotions to further scale nCino for the global opportunity ahead . Financial Outlook nCino is providing guidance for its third quarter ending October 31 , 2021 as follows : • Total revenues between $ 66 million and $ 67 million