Q2 2025 nCino Inc Earnings Call Transcript
Key Points
- Ncino Inc (NCNO) exceeded guidance for both subscription and total revenues, as well as for non-GAAP operating income.
- Gross bookings in the US were up 36% over the first half of last year, driven by expansion opportunities within the existing customer base.
- The company signed six new mortgage customers in the second quarter, including four financial institutions.
- Non-GAAP operating income for the second quarter was $19.3 million, up from $11.2 million in the same quarter last year.
- International revenues grew 25% year over year, indicating strong performance outside the US.
- Lending volumes and market activity remained relatively suppressed, impacting what would historically be a strong selling quarter.
- US mortgage revenues are expected to be dilutive to overall growth for the fiscal year.
- International markets remain more challenging than the US, with longer sales cycles and lumpier new logo opportunities.
- Professional services revenues grew only 7% year over year, indicating slower growth in this segment.
- Net cash provided by operating activities decreased to $5 million from $12 million in the same quarter last year.
Good day, and thank you for standing by. And welcome to nCino's second quarter fiscal year 2025 financial results conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Harrison Masters, Director of Investor Relations. Please go ahead.
Good afternoon, and welcome to nCino's second quarter fiscal 2025 earnings call. With me on today's call are Pierre Naude, nCino's Chairman and Chief Executive Officer; and Greg Ornstein, nCino's Chief Financial Officer.
During the course of this conference call, we will make forward-looking statements regarding trends, strategies, and the anticipated performance of our business. These forward-looking statements are based on management's current views and expectations, entail certain assumptions made as of today's date, and are subject to various risks and uncertainties described in our SEC filings and other publicly available documents, the
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