0001902733-25-000131 | 10-Q | XBRL Viewer

Goodwill and Intangible Assets (Tables)

9 Months Ended

Oct. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The change in the carrying amounts of goodwill was as follows:


Balance, January 31, 2025	$	1,019,375
Acquisitions	53,830
Measurement period adjustments	(10,413)
Translation adjustments	8,360
Balance, October 31, 2025	$	1,071,152

Schedule of Finite-Lived Intangible Assets

Intangible assets, net are as follows:


	As of January 31, 2025						As of October 31, 2025
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	97,029	$	(49,819)	$	47,210	$	102,053	$	(65,135)	$	36,918
Customer relationships	139,315		(33,315)		106,000		149,788		(44,240)		105,548
Trademarks and trade name	1,461		(615)		846		1,938		(1,830)		108
Other	1,369		(854)		515		1,369		(1,102)		267
	$	239,174	$	(84,603)	$	154,571	$	255,148	$	(112,307)	$	142,841

Schedule of Finite-lived Intangible Assets Amortization Expense

The Company recognized amortization expense for intangible assets as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Cost of subscription revenues	$	4,404	$	5,111	$	12,926	$	15,301
Cost of professional services and other revenues	82		—		247		165
Sales and marketing	2,871		4,040		8,215		12,115

Total amortization expense	$	7,357	$	9,151	$	21,388	$	27,581

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The expected future amortization expense for intangible assets as of October 31, 2025 is as follows:



Fiscal 2026 (remaining three months)	$	8,850
Fiscal 2027	33,968
Fiscal 2028	19,501
Fiscal 2029	19,401
Fiscal 2030	17,085
Thereafter	44,036
	$	142,841

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Stockholders' Equity - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 18,251	$ 17,971	$ 52,681	$ 53,015
Cost of Sales \| Subscription
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	804	733	2,298	2,088
Cost of Sales \| Professional services and other
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,230	2,940	9,299	8,699
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	4,008	4,394	10,682	12,534
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	4,096	4,208	11,896	13,720
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 6,113	$ 5,696	$ 18,506	$ 15,974

Stockholders' Equity - Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions (Details) - Shares issuable pursuant to the ESPP	9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	6 months	6 months
Expected volatility	40.74%	38.70%
Expected volatility	46.91%	38.91%
Expected dividends	0.00%	0.00%
Risk-free interest rate	4.25%	5.24%
Risk-free interest rate	4.29%	5.37%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Stockholders' Equity - Schedule of Share Repurchase Activity Under Share Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Equity [Abstract]
Total number of shares repurchased (in shares)	1,423,701	0	3,996,483	0
Average price per share (in USD per share)	$ 27.71	$ 0	$ 25.02	$ 0
Aggregate purchase price	$ 39,454	$ 0	$ 100,000	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Current assets
Cash and cash equivalents (VIE: $2,254 and $2,554 at January 31, 2025 and October 31, 2025, respectively)	$ 87,590	$ 120,928
Accounts receivable, less allowances of $1,229 and $1,245 at January 31, 2025 and October 31, 2025, respectively	86,948	146,787
Costs capitalized to obtain revenue contracts, current portion, net	14,942	13,462
Prepaid expenses and other current assets	19,742	21,072
Total current assets	209,222	302,249
Property and equipment, net	76,335	74,953
Operating lease right-of-use assets, net	12,926	16,026
Costs capitalized to obtain revenue contracts, noncurrent, net	24,051	23,735
Goodwill	1,071,152	1,019,375
Intangible assets, net	142,841	154,571
Investments (related party $2,500 and $0 at January 31, 2025 and October 31, 2025, respectively)	7,262	9,294
Long-term prepaid expenses and other assets	17,385	10,178
Total assets	1,561,174	1,610,381
Current liabilities
Accounts payable	12,527	13,640
Accrued expenses and other current liabilities	37,536	39,865
Deferred revenue, current portion	152,065	191,174
Financing obligations, current portion	1,831	1,680
Operating lease liabilities, current portion	4,124	5,153
Total current liabilities	208,083	251,512
Operating lease liabilities, noncurrent	10,140	12,819
Deferred income taxes, noncurrent	18,016	13,851
Deferred revenue, noncurrent	121	269
Revolving credit facility, noncurrent	203,500	166,000
Financing obligations, noncurrent	49,776	51,172
Other long-term liabilities	17,615	17,160
Total liabilities	507,251	512,783
Commitments and contingencies (Note 11)
Redeemable non-controlling interest (Note 2)	12,435	8,286
Stockholders’ equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized, and none issued and outstanding at January 31, 2025 and October 31, 2025	0	0
Common stock, $0.0005 par value; 500,000,000 shares authorized at January 31, 2025 and October 31, 2025; 115,996,852 and 118,431,293 shares issued; 115,996,852 and 114,434,810 outstanding at January 31, 2025 and October 31, 2025, respectively	59	58
Treasury stock, at cost; 0 and 3,996,483 shares at January 31, 2025 and October 31, 2025, respectively	(100,343)	0
Additional paid-in capital	1,526,923	1,474,413
Accumulated other comprehensive income (loss)	(760)	176
Accumulated deficit	(384,391)	(385,335)
Total stockholders’ equity	1,041,488	1,089,312
Total liabilities, redeemable non-controlling interest, and stockholders’ equity	$ 1,561,174	$ 1,610,381

Basic and Diluted Net Income (Loss) per Share - Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share (Details) - shares	9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024
Stock options issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	535,929	920,412
Nonvested RSUs issued and outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	6,770,521	6,367,467
Shares issuable pursuant to the ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	88,428	77,914

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurement, Recurring - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Level 1
Assets:
Time deposits (included in prepaid expenses and other current assets)	$ 134
Time deposits (included in long-term prepaid expenses and other assets)	158	$ 339
Total assets	20,980	39,180
Liabilities:
Contingent consideration (included in accrued expenses and other current liabilities)	0
Total liabilities	0
Level 1 \| Money Market Funds
Assets:
Money market accounts (included in cash and cash equivalents)	20,688	38,841
Level 2
Assets:
Time deposits (included in prepaid expenses and other current assets)	0
Time deposits (included in long-term prepaid expenses and other assets)	0	0
Total assets	0	0
Liabilities:
Contingent consideration (included in accrued expenses and other current liabilities)	0
Total liabilities	0
Level 2 \| Money Market Funds
Assets:
Money market accounts (included in cash and cash equivalents)	0	0
Level 3
Assets:
Time deposits (included in prepaid expenses and other current assets)	0
Time deposits (included in long-term prepaid expenses and other assets)	0	0
Total assets	0	0
Liabilities:
Contingent consideration (included in accrued expenses and other current liabilities)	8,500
Total liabilities	8,500
Level 3 \| Money Market Funds
Assets:
Money market accounts (included in cash and cash equivalents)	$ 0	$ 0

Summary of Business and Significant Accounting Policies (Tables)

9 Months Ended

Oct. 31, 2025

Accounting Policies [Abstract]

Schedule of Activity in Allowance for Doubtful Accounts

A summary of activity in the allowance for doubtful accounts and reserve for expected credit losses is as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Balance, beginning of period	$	1,204	$	1,248	$	1,451	$	1,229
Charged to (recovery of) bad debt expense	—		(3)		25		150
Charged to deferred revenue	—		—		—		20
Write-offs and other	(32)		—		(304)		(156)
Translation adjustments	—		—		—		2
Balance, end of period	$	1,172	$	1,245	$	1,172	$	1,245

Segment Information - Narrative (Details)	9 Months Ended
Segment Information - Narrative (Details)	Oct. 31, 2025 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

Revenues - Schedule of Accounts Receivable and Less Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Revenue from Contract with Customer [Abstract]
Trade accounts receivable	$ 64,411	$ 122,394
Unbilled accounts receivable	22,494	23,662
Allowance for doubtful accounts	(1,245)	(1,229)
Other accounts receivable	1,288	1,960
Total accounts receivable, net	$ 86,948	$ 146,787

Cover - shares	9 Months Ended
Cover - shares	Oct. 31, 2025	Nov. 28, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2025
Document Transition Report	false
Entity File Number	001-41211
Entity Registrant Name	nCino, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-4154342
Entity Address, Address Line One	6770 Parker Farm Drive
Entity Address, City or Town	Wilmington
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28405
City Area Code	888
Local Phone Number	676-2466
Title of 12(b) Security	Common stock, par value $0.0005 per share
Trading Symbol	NCNO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		114,684,968
Entity Central Index Key	0001902733
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q3
Amendment Flag	false

Summary of Business and Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Accounting Policies [Abstract]
Foreign currency transaction gain (loss), before tax	$ 0.2	$ 0.5	$ 15.3	$ (0.2)

Variable Interest Entity and Redeemable Non-Controlling Interest - Schedule of Activity in Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 10,345	$ 4,133	$ 8,286	$ 3,428
Net loss attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest)	(33)	(186)	(31)	(409)
Foreign currency translation	6	5	0	3
Adjustment to redeemable non-controlling interest	2,109	1,286	4,100	2,205
Stock-based compensation expense	8	5	80	16
Ending balance	$ 12,435	$ 5,243	$ 12,435	$ 5,243

Business Combinations (Tables)

9 Months Ended

Oct. 31, 2025

Business Combination [Abstract]

Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of the DocFox Acquisition Date:


	Fair Value
Cash and cash equivalents	$	1,400
Accounts receivable	1,898
Operating lease right-of-use assets, net	405
Other current and noncurrent assets	444
Intangible assets	24,600
Goodwill	56,302
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(3,495)
Deferred revenue, current and noncurrent	(3,505)
Operating lease liabilities, current and noncurrent	(405)
Deferred income taxes	(5,279)
Net assets acquired	$	72,365

The following table summarizes the fair values of assets acquired and liabilities assumed as of the ILT Acquisition Date:


	Fair Value
Cash and cash equivalents	$	164
Accounts receivable	343
Intangible assets	8,660
Goodwill	11,111
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(240)
Net assets acquired	$	20,038

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the FullCircl Acquisition Date:


	Fair Value
Cash and cash equivalents	$	3,182
Accounts receivable	1,814
Property and equipment, net	66
Operating lease right-of-use assets, net	198
Other current and noncurrent assets	211
Deferred income taxes	136
Intangible assets	37,000
Goodwill	108,549
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(3,776)
Deferred revenue, current and noncurrent	(4,773)
Operating lease liabilities, current and noncurrent	(198)
Net assets acquired	$	142,409

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the Sandbox Acquisition Date:


	Fair Value
Cash and cash equivalents	$	3,330
Accounts receivable	1,020


Other current and noncurrent assets	106
Intangible assets	13,400
Goodwill	53,830
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(774)
Deferred revenue, current and noncurrent	(4,950)

Deferred income taxes	(3,020)
Net assets acquired	$	62,942

Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived

The following table sets forth the components of the fair value of identifiable intangible assets and their estimated useful lives over which the acquired intangible assets will be amortized on a straight-line basis, as this approximates the pattern in which economic benefits of the assets are consumed as of the DocFox Acquisition Date:


	Fair Value		Useful Life
Trade name	$	200	1 year
Customer relationships	16,400		10 years
Developed technology	8,000		5 years
Total intangible assets subject to amortization	$	24,600


	Fair Value		Useful Life
Trade name	$	210	1 year
Customer relationships	5,870		10 years
Developed technology	2,580		5 years
Total intangible assets subject to amortization	$	8,660

The following table sets forth the components of the preliminary fair value of identifiable intangible assets and their estimated useful lives over which the acquired intangible assets will be amortized on a straight-line basis, as this approximates the pattern in which economic benefits of the assets are consumed as of the FullCircl Acquisition Date:


	Fair Value		Useful Life
Trade name	$	1,100	1 year
Customer relationships	26,500		10 years
Developed technology	9,400		5 years
Total intangible assets subject to amortization	$	37,000


	Fair Value		Useful Life
Trade name	$	400	1 year
Customer relationships	8,500		10 years
Developed technology	4,500		5 years
Total intangible assets subject to amortization	$	13,400

Schedule of Estimated Fair Value of Consideration Transferred

The Sandbox Acquisition Date fair value of the consideration transferred is as follows:


	Fair Value
Cash consideration (net of working capital adjustments)	$	53,488
Noncash consideration for settlement of preexisting contract	1,354
Contingent consideration	8,100
	$	62,942

- Definition

Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability.

+ References + Details

Stockholders' Equity - Schedule of Stock Option Activity (Details) - $ / shares	9 Months Ended
	Oct. 31, 2025
Number of Shares
Outstanding, beginning of period (in shares)	811,602
Expired or forfeited (in shares)	(1,627)
Exercised (in shares)	(274,046)
Outstanding, end of period (in shares)	535,929
Exercisable, end of period (in shares)	535,929
Fully vested or expected to vest, end of period (in shares)	535,929
Weighted Average Exercise Price
Outstanding, beginning of period (in USD per share)	$ 7.22
Expired or forfeited (in USD per share)	14.70
Exercised (in USD per share)	5.67
Outstanding, end of period (in USD per share)	7.99
Exercisable, end of period (in USD per share)	7.99
Fully vested or expected to vest, end of period (in USD per share)	$ 7.99

Restructuring - Schedule of Restructuring Plan Liabilities (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2025 USD ($)
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 0
Charges incurred	10,129
Cash payments	(8,043)
Non-cash items	(674)
Balance at end of period	$ 1,412

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Stockholders' Equity - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 31, 2025	Mar. 31, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share repurchase program, authorized, amount		$ 100.0
Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation costs	$ 153.3
Unrecognized compensation costs period for recognition (in years)	2 years 9 months 14 days

Segment Information - Schedule of Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Revenue, Major Customer [Line Items]
Revenues	$ 152,163	$ 138,797	$ 445,115	$ 399,287
Less:
Interest income	(339)	(482)	(1,269)	(1,408)
Interest expense	4,335	1,653	13,229	4,965
Income tax provision (benefit)	(695)	2,589	5,048	1,360
Net income (loss)	8,615	(4,152)	913	(17,472)
Reportable Segment
Revenue, Major Customer [Line Items]
Revenues	152,163	138,797	445,115	399,287
Less:
Adjusted cost of revenues	49,332	45,586	148,581	134,896
Adjusted sales and marketing expense	24,984	22,464	78,753	68,738
Adjusted research and development expense	25,211	28,831	80,937	83,571
Adjusted general and administrative expense	12,777	13,874	42,145	40,297
Interest income	(339)	(482)	(1,269)	(1,408)
Interest expense	4,335	1,653	13,229	4,965
Adjusted other (income) expense, net	(21)	208	(1,885)	236
Other segment items	27,964	28,226	78,663	84,104
Income tax provision (benefit)	(695)	2,589	5,048	1,360
Net income (loss)	$ 8,615	$ (4,152)	$ 913	$ (17,472)

Revenues

9 Months Ended

Oct. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenues

Disaggregation of Revenue

Disaggregated revenues by source and geographic region were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
United States
Subscriptions - non-mortgage	$	76,272	$	84,483	$	225,011	$	247,721
Subscriptions - mortgage	20,639		21,060		55,478		60,883
Professional services and other	12,280		13,061		35,868		37,857
Total United States	109,191		118,604		316,357		346,461
International
Subscriptions	22,983		27,868		63,722		81,147
Professional services and other	6,623		5,691		19,208		17,507
Total International	29,606		33,559		82,930		98,654
Total Revenue	$	138,797	$	152,163	$	399,287	$	445,115

Revenues by geography are determined based on the region of the Company’s contracting entity, which may be different than the region of the customer.

During the fourth quarter of fiscal year 2025, the Company changed the presentation of disaggregated revenues from a classification primarily based on geographic region to a classification to include sources by geographic region. The prior period presentation of disaggregated revenues has been reclassified to conform with the current period presentation.

Contract Amounts

Accounts Receivable

Accounts receivable, less allowance for doubtful accounts, is as follows as of January 31, 2025 and October 31, 2025:


	As of January 31, 2025		As of October 31, 2025
Trade accounts receivable	$	122,394	$	64,411
Unbilled accounts receivable	23,662		22,494
Allowance for doubtful accounts	(1,229)		(1,245)
Other accounts receivable	1,960		1,288
Total accounts receivable, net	$	146,787	$	86,948

Deferred Revenue and Remaining Performance Obligations

Significant movements in the deferred revenue balance during the period consisted of increases due to payments received or due in advance prior to the transfer of control of the underlying performance obligations to the customer, which were offset by decreases due to revenues recognized in the period. During the nine months ended October 31, 2025, $190.9 million of revenues were recognized out of the deferred revenue balance as of January 31, 2025.

Remaining performance obligations were $1.2 billion as of October 31, 2025. The Company expects to recognize approximately 69% of its remaining performance obligation as revenues in the next 24 months, approximately 26% more in the following 25 to 48 months, and the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Contingent consideration liability	$ 8,500	$ 0
Accrued compensation and benefits	16,481	23,626
Accrued expenses	12,555	16,239
Accrued expenses and other current liabilities	$ 37,536	$ 39,865

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Leases [Abstract]
Operating lease expense	$ 1,094	$ 1,418	$ 3,916	$ 4,144
Variable lease expense	704	657	1,999	1,927
Short-term lease expense	58	41	185	189
Sublease income	0	(232)	(174)	(232)
Total lease expense	$ 1,856	$ 1,884	$ 5,926	$ 6,028

Goodwill and Intangible Assets

9 Months Ended

Oct. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The change in the carrying amounts of goodwill was as follows:


Balance, January 31, 2025	$	1,019,375
Acquisitions	53,830
Measurement period adjustments	(10,413)
Translation adjustments	8,360
Balance, October 31, 2025	$	1,071,152

Intangible assets

Intangible assets, net are as follows:


	As of January 31, 2025						As of October 31, 2025
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Gross Amount		Accumulated Amortization		Net Carrying Amount
Developed technology	$	97,029	$	(49,819)	$	47,210	$	102,053	$	(65,135)	$	36,918
Customer relationships	139,315		(33,315)		106,000		149,788		(44,240)		105,548
Trademarks and trade name	1,461		(615)		846		1,938		(1,830)		108
Other	1,369		(854)		515		1,369		(1,102)		267
	$	239,174	$	(84,603)	$	154,571	$	255,148	$	(112,307)	$	142,841

The Company recognized amortization expense for intangible assets as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Cost of subscription revenues	$	4,404	$	5,111	$	12,926	$	15,301
Cost of professional services and other revenues	82		—		247		165
Sales and marketing	2,871		4,040		8,215		12,115

Total amortization expense	$	7,357	$	9,151	$	21,388	$	27,581

The expected future amortization expense for intangible assets as of October 31, 2025 is as follows:



Fiscal 2026 (remaining three months)	$	8,850
Fiscal 2027	33,968
Fiscal 2028	19,501
Fiscal 2029	19,401
Fiscal 2030	17,085
Thereafter	44,036
	$	142,841

The expected amortization expense is an estimate, actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, future changes to expected asset lives of intangible assets, and other events.

Goodwill and Intangible Assets - Expected Future Amortization Expense (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Fiscal 2026 (remaining)	$ 8,850
Fiscal 2027	33,968
Fiscal 2028	19,501
Fiscal 2029	19,401
Fiscal 2030	17,085
Thereafter	44,036
Net Carrying Amount	$ 142,841	$ 154,571

Related-Party Transactions	9 Months Ended
Related-Party Transactions	Oct. 31, 2025
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions On November 1, 2022, the Company’s wholly-owned subsidiary, nCino OpCo, acquired preferred shares of ZestFinance, Inc. (d/b/a ZEST AI) (“Zest AI”), a private company, and is included in investments on the Company’s consolidated balance sheets for $2.5 million as of January 31, 2025, and on the unaudited condensed consolidated balance sheets for $0.0 million as of October 31, 2025. The investment was considered a related party transaction as entities affiliated with Insight Partners, a beneficial owner of the Company as of November 1, 2022, owned greater than ten percent of Zest AI. During the first quarter of fiscal year 2026, we sold all our shares in Zest AI and recorded a realized gain of $1.2 million. At the time of this transaction, Zest AI was no longer considered a related party.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Business Combinations - Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Feb. 07, 2025	Jan. 31, 2025	Nov. 05, 2024	Apr. 01, 2024	Mar. 20, 2024
Business Combination [Line Items]
Goodwill	$ 1,071,152		$ 1,019,375
DocFox
Business Combination [Line Items]
Cash and cash equivalents						$ 1,400
Accounts receivable						1,898
Operating lease right-of-use assets, net						405
Other current and noncurrent assets						444
Intangible assets						24,600
Goodwill						56,302
Accounts payable, accrued expenses, and other liabilities, current and noncurrent						(3,495)
Deferred revenue, current and noncurrent						(3,505)
Operating lease liabilities, current and noncurrent						(405)
Deferred income taxes						(5,279)
Net assets acquired						$ 72,365
Integrated Lending Technologies, LLC
Business Combination [Line Items]
Cash and cash equivalents					$ 164
Accounts receivable					343
Intangible assets					8,660
Goodwill					11,111
Accounts payable, accrued expenses, and other liabilities, current and noncurrent					(240)
Net assets acquired					$ 20,038
FullCircl
Business Combination [Line Items]
Cash and cash equivalents				$ 3,182
Accounts receivable				1,814
Property and equipment, net				66
Operating lease right-of-use assets, net				198
Other current and noncurrent assets				211
Deferred income taxes				136
Intangible assets				37,000
Goodwill				108,549
Accounts payable, accrued expenses, and other liabilities, current and noncurrent				(3,776)
Deferred revenue, current and noncurrent				(4,773)
Operating lease liabilities, current and noncurrent				(198)
Net assets acquired				$ 142,409
Sandbox
Business Combination [Line Items]
Cash and cash equivalents		$ 3,330
Accounts receivable		1,020
Other current and noncurrent assets		106
Intangible assets		13,400
Goodwill		53,830
Accounts payable, accrued expenses, and other liabilities, current and noncurrent		(774)
Deferred revenue, current and noncurrent		(4,950)
Deferred income taxes		(3,020)
Net assets acquired		$ 62,942

Variable Interest Entity and Redeemable Non-Controlling Interest

9 Months Ended

Oct. 31, 2025

Noncontrolling Interest [Abstract]

Variable Interest Entity and Redeemable Non-Controlling Interest

In October 2019, the Company entered into an agreement with Japan Cloud Computing, L.P. and M30 LLC (collectively, the “Investors”) to engage in the investment, organization, management, and operation of nCino K.K. that is focused on the distribution of the Company’s products in Japan. In October 2019, the Company initially contributed $4.7 million in cash in exchange for 51% of the outstanding common stock of nCino K.K. In October 2023, the Company made a

further investment in nCino K.K. of $1.0 million that, including additional investments in nCino K.K. of $1.0 million by existing third-party investors in October 2023, maintained the Company’s ownership of 51%. As of October 31, 2025, the Company controls a majority of the outstanding common stock in nCino K.K.

All of the common stock held by the Investors is callable by the Company or puttable by the Investors at the option of the Investors or at the option of the Company beginning on the eighth anniversary of the agreement with the Investors. Should the call or put option be exercised, the redemption value would be determined based on a prescribed formula derived from the discrete revenues of nCino K.K. and the Company and may be settled, at the Company’s discretion, with Company stock or cash or a combination of the foregoing. As a result of the put right available to the Investors, the redeemable non-controlling interests in nCino K.K. are classified outside of permanent equity in the Company’s unaudited condensed consolidated balance sheets.

The following table summarizes the activity in the redeemable non-controlling interests for the period indicated below:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Balance, beginning of period	$	4,133	$	10,345	$	3,428	$	8,286

Net loss attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest)	(186)		(33)		(409)		(31)
Foreign currency translation	5		6		3		—
Adjustment to redeemable non-controlling interest	1,286		2,109		2,205		4,100
Stock-based compensation expense(1)	5		8		16		80
Balance, end of period	$	5,243	$	12,435	$	5,243	$	12,435

(1) nCino K.K. stock options granted in accordance with nCino K.K.’s equity incentive plan.

Revenues (Tables)

9 Months Ended

Oct. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Geographic Region

Disaggregated revenues by source and geographic region were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
United States
Subscriptions - non-mortgage	$	76,272	$	84,483	$	225,011	$	247,721
Subscriptions - mortgage	20,639		21,060		55,478		60,883
Professional services and other	12,280		13,061		35,868		37,857
Total United States	109,191		118,604		316,357		346,461
International
Subscriptions	22,983		27,868		63,722		81,147
Professional services and other	6,623		5,691		19,208		17,507
Total International	29,606		33,559		82,930		98,654
Total Revenue	$	138,797	$	152,163	$	399,287	$	445,115

Schedule of Accounts Receivable and Less Allowance for Doubtful Accounts

Accounts receivable, less allowance for doubtful accounts, is as follows as of January 31, 2025 and October 31, 2025:


	As of January 31, 2025		As of October 31, 2025
Trade accounts receivable	$	122,394	$	64,411
Unbilled accounts receivable	23,662		22,494
Allowance for doubtful accounts	(1,229)		(1,245)
Other accounts receivable	1,960		1,288
Total accounts receivable, net	$	146,787	$	86,948

Balance Sheet Components

9 Months Ended

Oct. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	As of January 31, 2025		As of October 31, 2025
Prepaid expenses	$	19,729	$	18,174
Other current assets	1,343		1,568
Prepaid expenses and other current assets	$	21,072	$	19,742

Property and equipment, net

Property and equipment, net consisted of the following:


	As of January 31, 2025		As of October 31, 2025
Furniture and fixtures	$	11,712	$	11,850
Computers and equipment	7,193		6,544
Buildings and land	56,379		56,379
Leasehold improvements	28,046		30,143
Construction in progress	627		—
Total property and equipment, gross	103,957		104,916
Less accumulated depreciation	(29,004)		(28,581)
Total property and equipment, net	$	74,953	$	76,335

The Company recognized depreciation expense as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Cost of subscription revenues	$	124	$	107	$	366	$	333
Cost of professional services and other revenues	322		350		991		1,034
Sales and marketing	316		324		981		940
Research and development	602		493		1,830		1,583
General and administrative	192		166		576		527
Total depreciation expense	$	1,556	$	1,440	$	4,744	$	4,417

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of January 31, 2025		As of October 31, 2025
Contingent consideration liability	$	—	$	8,500
Accrued compensation and benefits	23,626		16,481
Accrued expenses	16,239		12,555
Accrued expenses and other current liabilities	$	39,865	$	37,536

Summary of Business and Significant Accounting Policies

9 Months Ended

Oct. 31, 2025

Accounting Policies [Abstract]

Summary of Business and Significant Accounting Policies

Description of Business: nCino, Inc., together with its subsidiaries (collectively “the Company”), is a software-as-a-service (“SaaS”) company that provides software solutions to financial institutions (“FI”) to streamline employee and client interactions. The Company is headquartered in Wilmington, North Carolina and has various locations in North America, Europe, Asia Pacific and South Africa.

Fiscal Year End: The Company’s fiscal year ends on January 31. References to fiscal year 2026, for example, refer to the fiscal year ended January 31, 2026.

Principles of Consolidation and Basis of Presentation: The financial information presented in the accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as set forth in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and in accordance with applicable rules and regulations of the Securities Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025, filed with the SEC on April 1, 2025. The unaudited condensed consolidated financial statements include accounts of the Company’s wholly-owned subsidiaries, as well as a variable interest entity (“VIE”) in which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods but are not necessarily indicative of the results of operations to be anticipated for the full fiscal 2026 or any future period.

Reclassification: The Company reclassified certain prior year amounts in the unaudited condensed consolidated statement of cash flows within the cash flows from operating activities to conform to the current year presentation.

Variable Interest Entity: The Company holds an interest in a Japanese company (“nCino K.K.”) that is considered a VIE. nCino K.K. is considered a VIE as it has insufficient equity capital to finance its activities without additional financial support. The Company is the primary beneficiary of nCino K.K. as it has the power over the activities that most significantly impact the economic performance of nCino K.K. and has the obligation to absorb expected losses and the right to receive expected benefits that could be significant to nCino K.K., in accordance with accounting guidance. As a result, the Company consolidated nCino K.K. and all significant intercompany accounts have been eliminated. The Company will continue to assess whether it has a controlling financial interest and whether it is the primary beneficiary at each reporting period. Other than the Company’s equity investments, the Company has not provided financial or other support to nCino K.K. that it was not contractually obligated to provide. The assets of the VIE can only be used to settle the obligations of the VIE and the creditors of the VIE do not have recourse to the Company. The assets and liabilities of the VIE were not significant to the Company’s consolidated financial statements, except for cash which is reflected on the unaudited condensed consolidated balance sheets. See Note 2 “Variable Interest Entity and Redeemable Non-Controlling Interest” for additional information regarding the Company’s variable interest.

Redeemable Non-Controlling Interest: Redeemable non-controlling interest relates to minority investors of nCino K.K. An agreement with the minority investors of nCino K.K. contains redemption features whereby the interest held by the minority investors are redeemable either at the option of the (i) minority investors, or (ii) the Company, both beginning on the eighth anniversary of the initial capital contribution. If the interest of the minority investors were to be redeemed under this agreement, the Company would be required to redeem the interest based on a prescribed formula derived from the relative revenues of nCino K.K. and the Company. The balance of the redeemable non-controlling interest is reported at the greater of the initial carrying amount adjusted for the redeemable non-controlling interest’s share of earnings or losses and other comprehensive income or loss, or its estimated redemption value. The resulting changes in the estimated redemption amount

(increases or decreases) are recorded with corresponding adjustments against retained earnings or, in the absence of retained earnings, additional paid-in-capital. These interests are presented on the unaudited condensed consolidated balance sheets outside of equity under the caption “Redeemable non-controlling interest.”

Use of Estimates: The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions made by the Company’s management are used for, but not limited to, revenue recognition including determining the nature and timing of satisfaction of performance obligations, variable consideration, and stand-alone selling price; the average period of benefit associated with costs capitalized to obtain revenue contracts; fair value of assets acquired and liabilities assumed for business combinations; fair value of contingent consideration; the useful lives of intangible assets; income taxes and the related valuation allowance on deferred tax assets; redemption value of redeemable non-controlling interest; and stock-based compensation. The Company assesses these estimates on a regular basis using historical experience and other factors. Actual results could differ from these estimates.

Concentration of Credit Risk and Significant Customers: The Company’s financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, restricted cash, and accounts receivable. The Company’s cash and cash equivalents exceeded federally insured limits at January 31, 2025 and October 31, 2025. The Company maintains its cash, cash equivalents and restricted cash with high-credit-quality financial institutions.

As of both January 31, 2025 and October 31, 2025, no individual customer represented more than 10% of accounts receivable. For the three and nine months ended October 31, 2024 and 2025, no individual customer represented more than 10% of the Company’s total revenues.

Restricted Cash: Restricted cash consists of deposits held as collateral for the Company’s bank guarantees issued in place of security deposits for certain property leases and credit cards at January 31, 2025 and only for certain property leases at October 31, 2025. Restricted cash is included in long-term prepaid expenses and other assets on the consolidated balance sheets at January 31, 2025 and in prepaid expenses and other current assets and long-term prepaid expenses and other assets at October 31, 2025 in the unaudited condensed consolidated balance sheets.

Allowances: The Company records allowances for doubtful accounts based upon the credit worthiness of customers, historical experience, the age of the accounts receivable, current market and economic conditions, and supportable forecasts about the future. Relevant risk characteristics include customer size and historical loss patterns. This estimate is analyzed quarterly and adjusted as necessary. The Company records the allowance against bad debt expense through the unaudited condensed consolidated statements of operations, included in general and administrative expenses, up to the amount of revenues recognized to date. Any incremental allowance is recorded as an offset to deferred revenue on the unaudited condensed consolidated balance sheets. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success.

A summary of activity in the allowance for doubtful accounts and reserve for expected credit losses is as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Balance, beginning of period	$	1,204	$	1,248	$	1,451	$	1,229
Charged to (recovery of) bad debt expense	—		(3)		25		150
Charged to deferred revenue	—		—		—		20
Write-offs and other	(32)		—		(304)		(156)
Translation adjustments	—		—		—		2
Balance, end of period	$	1,172	$	1,245	$	1,172	$	1,245

Investments: The Company’s investments are non-marketable equity investments without readily determinable fair value and for which the Company does not have control or significant influence. The investments are measured at cost with

adjustments for observable changes in price or impairment as permitted by the measurement alternative. The Company assesses at each reporting period if the investments continue to qualify for the measurement alternative. Gains or losses resulting from observable price changes are recognized currently in Other income (expense), net on the Company’s unaudited condensed consolidated statements of operations. The Company assesses the investments whenever events or changes in circumstances indicate that the carrying value of the investments may not be recoverable.

Foreign Currency: The functional currency of the Company’s foreign subsidiaries is generally the local currency. Adjustments resulting from translating foreign functional currency financial statements into United States (“U.S.”) dollars are recorded as a separate component on the unaudited condensed consolidated statements of comprehensive loss recorded in foreign currency translation line item. All assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenues and expenses are translated at the average exchange rate during the period. Equity transactions are translated using historical exchange rates.

Foreign currency transaction gains and losses due to transactions denominated in a currency other than the functional currency are included in other income (expense), net in the unaudited condensed consolidated statements of operations and were $0.5 million and $0.2 million for the three months ended October 31, 2024 and 2025, respectively, and $(0.2) million and $15.3 million for the nine months ended October 31, 2024 and 2025, respectively, primarily related to remeasurement of various intercompany loans.

Recent Accounting Pronouncements Not Yet Adopted: In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance includes amendments to enhance existing income tax disclosure requirements, primarily related to the rate reconciliation and income taxes paid disclosures. The ASU is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply the ASU retrospectively. Early adoption is permitted. The Company expects to adopt 2023-09 in its consolidated financial statements for the fiscal year ended January 31, 2026. The adoption will require certain additional disclosures in the notes to the Company’s consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). The guidance includes amendments to require public companies to provide additional disclosure about certain costs and expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The guidance includes amendments that provide a practical expedient for measuring credit losses on current accounts receivable and current contract assets under ASC 606 - Revenue from Contracts with Customers. The ASU is effective for annual periods beginning after December 15, 2025, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which clarifies and modernizes certain aspects of the accounting for, and disclosure of, internal-use software costs. The ASU removes all references to software development project stages so that the guidance is neutral to different software development methods and clarifies the threshold entities apply to begin capitalizing costs. The ASU is effective for annual periods beginning after December 15, 2027, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements.

Balance Sheet Components - Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Property, Plant and Equipment [Line Items]
Total depreciation expense	$ 1,440	$ 1,556	$ 4,417	$ 4,744
Sales and marketing
Property, Plant and Equipment [Line Items]
Depreciation, nonproduction	324	316	940	981
Research and development
Property, Plant and Equipment [Line Items]
Depreciation, nonproduction	493	602	1,583	1,830
General and administrative
Property, Plant and Equipment [Line Items]
Depreciation, nonproduction	166	192	527	576
Subscription
Property, Plant and Equipment [Line Items]
Cost of subscription revenues	107	124	333	366
Professional services and other
Property, Plant and Equipment [Line Items]
Cost of subscription revenues	$ 350	$ 322	$ 1,034	$ 991

Basic and Diluted Net Income (Loss) per Share (Tables)

9 Months Ended

Oct. 31, 2025

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Loss Per Share

The components of basic and diluted net income (loss) per share for periods presented are as follows (in thousands, except share and per share data):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Basic net income (loss) per share:
Numerator
Net income (loss) attributable to nCino, Inc.	$	(5,252)	$	6,539	$	(19,268)	$	(3,156)
Denominator
Weighted-average common shares outstanding	115,611,833		114,407,430		114,970,622		113,594,540
Basic net income (loss) per share attributable to nCino, Inc.	$	(0.05)	$	0.06	$	(0.17)	$	(0.03)


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to nCino, Inc.	$	(5,252)	$	6,539	$	(19,268)	$	(3,156)
Denominator
Weighted-average common shares outstanding, basic	115,611,833		114,407,430		114,970,622		113,594,540
Effect of diluted stock options, unvested RSUs, and shares of common stock issuable under the ESPP	—		1,422,788		—		—
Weighted-average common shares outstanding, diluted	115,611,833		115,830,218		114,970,622		113,594,540
Diluted net income (loss) per share attributable to nCino, Inc.	$	(0.05)	$	0.06	$	(0.17)	$	(0.03)

Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share

The following potential outstanding common stock were excluded from the diluted net income (loss) per share computation because the effect would have been anti-dilutive:


	Nine Months Ended October 31,
	2024	2025
Stock options issued and outstanding	920,412	535,929
Nonvested RSUs issued and outstanding	6,367,467	6,770,521
Shares issuable pursuant to the ESPP	77,914	88,428

Restructuring - Schedule of Restructuring and Related Costs (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2025 USD ($)
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 7,063
Exit Costs	1,733
Asset Write-offs	1,333
Total restructuring charges	10,129
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Severance Costs	1,288
Exit Costs	128
Asset Write-offs	42
Total restructuring charges	1,458
Research and development
Restructuring Cost and Reserve [Line Items]
Severance Costs	3,732
Exit Costs	221
Asset Write-offs	73
Total restructuring charges	4,026
General and administrative
Restructuring Cost and Reserve [Line Items]
Severance Costs	1,080
Exit Costs	1,192
Asset Write-offs	1,155
Total restructuring charges	3,427
Subscription
Restructuring Cost and Reserve [Line Items]
Severance Costs	426
Exit Costs	53
Asset Write-offs	17
Total restructuring charges	496
Professional services and other
Restructuring Cost and Reserve [Line Items]
Severance Costs	537
Exit Costs	139
Asset Write-offs	46
Total restructuring charges	$ 722

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance, beginning of the period (in shares) at Jan. 31, 2024		113,684,299
Balance, beginning of the period, treasury stock (in shares) at Jan. 31, 2024			0
Balance, beginning of the period at Jan. 31, 2024	$ 1,049,176	$ 57	$ 0	$ 1,400,881	$ 996	$ (352,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		290,917
Exercise of stock options	2,223			2,223
Stock issuance upon vesting of restricted stock units (in shares)		1,581,387
Stock issuance upon vesting of restricted stock units	0	$ 1		(1)
Stock issuance under the employee stock purchase plan (in shares)		93,982
Stock issuance under the employee stock purchase plan	2,514			2,514
Stock-based compensation	52,999			52,999
Other comprehensive income (loss)	619				619
Net income attributable to nCino, Inc., including adjustment to redeemable non-controlling interest	(19,268)			(2,205)		(17,063)
Balance, ending of the period (in shares) at Oct. 31, 2024		115,650,585
Balance, ending of the period, treasury stock (in shares) at Oct. 31, 2024			0
Balance, ending of the period at Oct. 31, 2024	1,088,263	$ 58	$ 0	1,456,411	1,615	(369,821)
Balance, beginning of the period (in shares) at Jul. 31, 2024		115,387,309
Balance, beginning of the period, treasury stock (in shares) at Jul. 31, 2024			0
Balance, beginning of the period at Jul. 31, 2024	1,074,855	$ 58	$ 0	1,439,245	1,407	(365,855)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		78,206
Exercise of stock options	486			486
Stock issuance upon vesting of restricted stock units (in shares)		185,070
Stock issuance under the employee stock purchase plan (in shares)		0
Stock issuance under the employee stock purchase plan	0			0
Stock-based compensation	17,966			17,966
Other comprehensive income (loss)	208				208
Net income attributable to nCino, Inc., including adjustment to redeemable non-controlling interest	(5,252)			(1,286)		(3,966)
Balance, ending of the period (in shares) at Oct. 31, 2024		115,650,585
Balance, ending of the period, treasury stock (in shares) at Oct. 31, 2024			0
Balance, ending of the period at Oct. 31, 2024	$ 1,088,263	$ 58	$ 0	1,456,411	1,615	(369,821)
Balance, beginning of the period (in shares) at Jan. 31, 2025	115,996,852	115,996,852
Balance, beginning of the period, treasury stock (in shares) at Jan. 31, 2025	0		0
Balance, beginning of the period at Jan. 31, 2025	$ 1,089,312	$ 58	$ 0	1,474,413	176	(385,335)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	274,046	274,046
Exercise of stock options	$ 1,566			1,566
Stock issuance upon vesting of restricted stock units (in shares)		2,057,539
Stock issuance upon vesting of restricted stock units	0	$ 1		(1)
Stock issuance under the employee stock purchase plan (in shares)		102,856
Stock issuance under the employee stock purchase plan	2,444			2,444
Common stock repurchases under stock repurchase program (in shares)			3,996,483
Common stock repurchases under stock repurchase program	(100,343)		$ (100,343)
Stock-based compensation	52,601			52,601
Other comprehensive income (loss)	(936)				(936)
Net income attributable to nCino, Inc., including adjustment to redeemable non-controlling interest	$ (3,156)			(4,100)		944
Balance, ending of the period (in shares) at Oct. 31, 2025	114,434,810	118,431,293
Balance, ending of the period, treasury stock (in shares) at Oct. 31, 2025	3,996,483		3,996,483
Balance, ending of the period at Oct. 31, 2025	$ 1,041,488	$ 59	$ (100,343)	1,526,923	(760)	(384,391)
Balance, beginning of the period (in shares) at Jul. 31, 2025		118,017,701
Balance, beginning of the period, treasury stock (in shares) at Jul. 31, 2025			2,572,782
Balance, beginning of the period at Jul. 31, 2025	1,056,818	$ 59	$ (60,598)	1,510,517	(121)	(393,039)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		26,700
Exercise of stock options	272			272
Stock issuance upon vesting of restricted stock units (in shares)		386,892
Stock issuance under the employee stock purchase plan (in shares)		0
Stock issuance under the employee stock purchase plan	0			0
Common stock repurchases under stock repurchase program (in shares)			1,423,701
Common stock repurchases under stock repurchase program	(39,745)		$ (39,745)
Stock-based compensation	18,243			18,243
Other comprehensive income (loss)	(639)				(639)
Net income attributable to nCino, Inc., including adjustment to redeemable non-controlling interest	$ 6,539			(2,109)		8,648
Balance, ending of the period (in shares) at Oct. 31, 2025	114,434,810	118,431,293
Balance, ending of the period, treasury stock (in shares) at Oct. 31, 2025	3,996,483		3,996,483
Balance, ending of the period at Oct. 31, 2025	$ 1,041,488	$ 59	$ (100,343)	$ 1,526,923	$ (760)	$ (384,391)

Commitments and Contingencies

9 Months Ended

Oct. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

In addition to the operating lease commitments described in Note 9 “Leases,” the Company has additional contractual commitments as described further below.

Purchase Commitments

The Company’s purchase commitments consist of non-cancellable agreements to purchase goods and services, primarily licenses and hosting services, entered into in the ordinary course of business.

Financing Obligations

The Company’s financing obligations consist of leases for the Company’s headquarters and parking deck in which the Company is deemed the owner of for accounting purposes. The leases will be analyzed for applicable lease accounting upon expiration of the purchase option, if not exercised.

Purchase commitments and future minimum lease payments required under financing obligations as of October 31, 2025 is as follows:


	Purchase commitments		Financing obligations - leased facility
Fiscal 2026 (remaining three months)	$	22,098	$	1,169
Fiscal 2027	85,298		3,958
Fiscal 2028	77,042		—
Fiscal 2029	896		—
Fiscal 2030	—		—
Thereafter	—		—
Total	$	185,334	$	5,127
Residual financing obligations and assets			49,617
Less: amount representing interest			(3,137)
Financing obligations			$	51,607

A portion of the associated lease payments are recognized as interest expense and the remainder reduces the financing obligations. The weighted-average discount rate for the Company’s financing obligations as of October 31, 2025 was 5.7%.

Indemnification

In the ordinary course of business, the Company generally includes standard indemnification provisions in its arrangements with third parties, including vendors, customers, and the Company’s directors and officers. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. The Company has not accrued any material liabilities related to such obligations in the accompanying unaudited condensed consolidated financial statements.

Legal Proceedings

From time to time, the Company is involved in legal proceedings or is subject to claims arising in the ordinary course of business. In the opinion of management of the Company, however, there are no proceedings or claims pending against the Company that we believe are likely to have a material adverse effect on the Company.

Other Commitments and Contingencies

The Company may be subject to audits related to its non-income taxes by tax authorities in jurisdictions where it conducts business. These audits may result in assessments of additional taxes that are subsequently resolved with the authorities or potentially through the courts. The Company accrues for any assessments if deemed probable and estimable.

Segment Information - Schedule of Property and Equipment, Net and Operating ROU Assets, Net by Geographic Region (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Geographic concentration of assets
Long-lived assets	$ 89,261	$ 90,979
United States
Geographic concentration of assets
Long-lived assets	71,187	79,115
United Kingdom
Geographic concentration of assets
Long-lived assets	16,228	9,760
Other
Geographic concentration of assets
Long-lived assets	$ 1,846	$ 2,104

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 9,151	$ 7,357	$ 27,581	$ 21,388
Cost of subscription revenues
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	5,111	4,404	15,301	12,926
Cost of professional services and other revenues
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	0	82	165	247
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 4,040	$ 2,871	$ 12,115	$ 8,215

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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- Definition

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+ Details

Business Combinations

9 Months Ended

Oct. 31, 2025

Business Combination [Abstract]

Business Combinations

DocFox, Inc. (“DocFox”)

On March 20, 2024 (the “DocFox Acquisition Date”), the Company acquired the outstanding equity interests of DocFox, which provides a solution to automate onboarding experiences for commercial and business banking. The Company acquired DocFox for its complementary product set, which helps simplify and automate the onboarding and account opening process. The Company has included the financial results of DocFox in the unaudited condensed consolidated statements of operations from the DocFox Acquisition Date. Including the $2.0 million in post combination expense referenced below, transaction costs associated with the DocFox acquisition were approximately $3.9 million and were recorded in general and administrative expenses.

The Company paid a total of $74.3 million in cash as of the DocFox Acquisition Date. Included in the total cash paid was $6.2 million for DocFox common stock options that were cash settled on the DocFox Acquisition Date. The $6.2 million fair value of the DocFox common stock options was allocated between consideration transferred and post combination expense in the amounts of $4.2 million and $2.0 million, respectively. As there was no future service requirement due to accelerated vesting of these options, the entire $2.0 million, included within general and administrative expenses, was recorded as transaction cost immediately following the acquisition and not in consideration transferred. The estimated fair value of the consideration transferred was $72.4 million on the DocFox Acquisition Date.

In addition, the Company issued 198,505 Restricted Stock Units (“RSUs”) with an approximate fair value of $6.1 million to certain employees of DocFox, which will vest over four years subject to such employees’ continued employment. The RSUs will be recorded as stock-based compensation expense post-acquisition as the RSUs vest and has been excluded from the purchase consideration.

The transaction was accounted for using the acquisition method and, as a result, tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values at the DocFox Acquisition Date. Any excess consideration over the fair value of the assets acquired and liabilities assumed was recognized as goodwill. The Company determined the acquisition date contract assets and liabilities in accordance with ASC 606.

The following table summarizes the fair values of assets acquired and liabilities assumed as of the DocFox Acquisition Date:


	Fair Value
Cash and cash equivalents	$	1,400
Accounts receivable	1,898
Operating lease right-of-use assets, net	405
Other current and noncurrent assets	444
Intangible assets	24,600
Goodwill	56,302
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(3,495)
Deferred revenue, current and noncurrent	(3,505)
Operating lease liabilities, current and noncurrent	(405)
Deferred income taxes	(5,279)
Net assets acquired	$	72,365

During the three months ended April 30, 2025, within the one year measurement period, we finalized the fair value of the assets acquired and liabilities assumed in the acquisition, and the amounts presented above are final. The Company recorded measurement period adjustments that included a $1.0 million adjustment to decrease goodwill for a $1.0 million deferred income tax adjustment.


	Fair Value		Useful Life
Trade name	$	200	1 year
Customer relationships	16,400		10 years
Developed technology	8,000		5 years
Total intangible assets subject to amortization	$	24,600

Developed technology represents the fair value of DocFox’s technology, customer relationships represent the fair value of the underlying relationships with DocFox’s customers, and trade names represents the fair value of DocFox’s company name.

Goodwill is primarily attributable to expanded market opportunities, synergies expected from the acquisition, and assembled workforce. The goodwill is not deductible for tax.

The Company has not disclosed pro-forma revenue and earnings attributable to DocFox as they did not have a material effect on the Company’s consolidated financial statements.

Integrated Lending Technologies, LLC (“ILT”)

On April 1, 2024 (the “ILT Acquisition Date”), the Company acquired all outstanding membership interests of ILT, which provides consumer loan origination software that streamlines direct and indirect lending operations. The Company acquired ILT for its complementary products. The Company has included the financial results of ILT in the unaudited condensed consolidated statements of operations from the ILT Acquisition Date. Transaction costs associated with the ILT acquisition were approximately $0.9 million and were recorded in general and administrative expenses.

The Company paid a total of $19.9 million in cash on the ILT Acquisition Date, subject to a net working capital adjustment. The net working capital adjustment was finalized in July 2024, resulting in an increase to the purchase price of $0.1 million which was recorded to goodwill.

The transaction was accounted for using the acquisition method and, as a result, tangible and intangible assets acquired, and liabilities assumed were recorded at their estimated fair values at the ILT Acquisition Date. Any excess consideration over the fair value of the assets acquired and liabilities assumed was recognized as goodwill. The Company determined the acquisition date contract assets and liabilities in accordance with ASC 606.

The following table summarizes the fair values of assets acquired and liabilities assumed as of the ILT Acquisition Date:


	Fair Value
Cash and cash equivalents	$	164
Accounts receivable	343
Intangible assets	8,660
Goodwill	11,111
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(240)
Net assets acquired	$	20,038

During the fiscal year ended January 31, 2025, within the one year measurement period, we finalized the fair value of the assets acquired and liabilities assumed in the acquisition, and the amounts presented above are final.


	Fair Value		Useful Life
Trade name	$	210	1 year
Customer relationships	5,870		10 years
Developed technology	2,580		5 years
Total intangible assets subject to amortization	$	8,660

Developed technology represents the fair value of ILT’s technology, customer relationships represent the fair value of the underlying relationships with ILT’s customers, and trade name represents the fair value of ILT’s company name.

Goodwill is primarily attributable to expanded market opportunities, synergies expected from the acquisition, and assembled workforce and approximately $11.1 million is deductible for tax purposes.

The Company has not disclosed pro-forma revenue and earnings attributable to ILT as they did not have a material effect on the Company’s consolidated financial statements.

Artesian Solutions Limited (“FullCircl”)

On November 5, 2024 (the “FullCircl Acquisition Date”), the Company acquired the outstanding equity interests of FullCircl, which provides an onboarding and customer lifecycle intelligence platform. The Company acquired FullCircl for its complementary products. The Company has included the financial results of FullCircl in the unaudited condensed consolidated statements of operations from the FullCircl Acquisition Date. Transaction costs associated with the FullCircl acquisition were approximately $3.6 million and were recorded in general and administrative expenses.

The purchase consideration was $142.4 million, of which the Company paid a total of $129.2 million in cash at the FullCircl Acquisition Date. The purchase consideration includes a deferred payment of $15.0 million, with a present value of $13.2 million at the FullCircl Acquisition Date, relating to an indemnity holdback amount to be paid in 24 months following the FullCircl Acquisition Date which is included in other long-term liabilities on the unaudited condensed consolidated balance sheets. The Company will accrete the $1.8 million, which represents the difference between the total deferred payment and the present value, to interest expense over the two-year period using the effective interest rate methodology.

In addition, the Company issued 52,877 RSUs with an approximate fair value of $2.0 million to certain employees of FullCircl, which will vest over four years subject to such employees’ continued employment. The RSUs will be recorded as stock-based compensation expense post-acquisition as the RSUs vest and has been excluded from the purchase consideration.

The transaction was accounted for using the acquisition method and, as a result, tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values at the FullCircl Acquisition Date. Any excess consideration over the fair value of the assets acquired and liabilities assumed was recognized as goodwill and is subject to revision as the purchase price allocation is complete. The Company determined the acquisition date contract assets and liabilities in accordance with ASC 606.

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the FullCircl Acquisition Date:


	Fair Value
Cash and cash equivalents	$	3,182
Accounts receivable	1,814
Property and equipment, net	66
Operating lease right-of-use assets, net	198
Other current and noncurrent assets	211
Deferred income taxes	136
Intangible assets	37,000
Goodwill	108,549
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(3,776)
Deferred revenue, current and noncurrent	(4,773)
Operating lease liabilities, current and noncurrent	(198)
Net assets acquired	$	142,409

During the six months ended July 31, 2025, the Company recorded measurement period adjustments that included a $9.4 million adjustment to decrease goodwill for a $9.4 million deferred income tax adjustment. No additional adjustments were made in the third quarter ended October 31, 2025.

Due to the timing of the transaction, initial accounting for the acquisition is not complete, and further measurement period adjustments may occur in fiscal year 2026, but no later than one year from the FullCircl Acquisition Date. The Company has estimated the preliminary fair value of net assets acquired based on information currently available and with the assistance of independent third-party valuations and will continue to adjust those estimates as additional information becomes available, valuations are finalized and the tax returns for the pre-acquisition period are completed. The primary areas of the acquisition accounting that remain preliminary relate to, but are not limited to, (i) finalizing the review and valuation of intangible assets (including key assumptions, inputs and estimates), (ii) finalizing the evaluation and valuation of certain legal matters and/or loss contingencies, including those that the Company may not yet be aware of but meet the requirement to qualify as a pre-acquisition contingency, and (iii) finalizing our estimate of the impact of acquisition accounting on deferred income taxes or liabilities, including uncertain tax positions. As the initial acquisition accounting is based on preliminary assessments, actual values may differ materially when final information becomes available. The Company believes the information gathered to date provides a reasonable basis for estimating the preliminary fair values of assets acquired and liabilities assumed. The Company will continue to evaluate these items until they are satisfactorily resolved and make necessary adjustments, within the allowable measurement period.


	Fair Value		Useful Life
Trade name	$	1,100	1 year
Customer relationships	26,500		10 years
Developed technology	9,400		5 years
Total intangible assets subject to amortization	$	37,000

Developed technology represents the preliminary fair value of FullCircl’s technology, customer relationships represent the preliminary fair value of the underlying relationships with FullCircl’s customers, and trade names represents the preliminary fair value of FullCircl’s company name. The Company continues to assess the rates used in the preliminary valuation methods such as, but not limited to, the discount rates for developed technology, customer relationships and trade name and customer attrition rate for customer relationships.

Goodwill is primarily attributable to expanded market opportunities, synergies expected from the acquisition, and assembled workforce. The goodwill is not expected to be deductible for tax.

The Company has not disclosed pro-forma revenue and earnings attributable to FullCircl as they did not have a material effect on the Company’s consolidated financial statements.

Sandbox Banking

On February 7, 2025 (the “Sandbox Acquisition Date”), the Company acquired the outstanding equity interests of Sandbox Banking, a digital transformation leader serving the financial services industry. The Company acquired Sandbox Banking to strengthen the Company’s ability to enhance data connectivity. The Company has included the financial results of Sandbox Banking in the unaudited condensed consolidated statements of operations from the Sandbox Acquisition Date. Transaction costs associated with the Sandbox Banking acquisition were approximately $1.4 million and were recorded in general and administrative expenses.

The Sandbox Acquisition Date fair value of the consideration transferred is as follows:


	Fair Value
Cash consideration (net of working capital adjustments)	$	53,488
Noncash consideration for settlement of preexisting contract	1,354
Contingent consideration	8,100
	$	62,942

As of April 30, 2025, the cash consideration and working capital adjustments were finalized, resulting in final net cash consideration of $53.5 million after working capital adjustments of $0.5 million.

The preliminary purchase price also includes $8.1 million of contingent consideration whereby the Company may be required to pay up to $10.0 million subject to the achievement of certain targets over 18 months, subject to revision. Three earn-outs are payable based on achieving a certain increase in annual contract value, achieving connectivity between defined systems for certain customers and achieving defined development work. See Note 3 “Fair Value Measurements” for additional information on the fair value of the contingent consideration.

In addition, the Company issued 91,160 RSUs, in May 2025, with an approximate fair value of $2.1 million to certain employees of Sandbox Banking, which will vest over four years subject to such employees’ continued employment. The RSUs will be recorded as stock-based compensation expense post-acquisition as the RSUs vest and has been excluded from the purchase consideration.

The transaction was accounted for using the acquisition method and, as a result, tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values at the Sandbox Acquisition Date. Any excess consideration over the fair value of the assets acquired and liabilities assumed was recognized as goodwill and is subject to revision as the purchase price allocation is complete. The Company determined the acquisition date contract assets and liabilities in accordance with ASC 606.

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the Sandbox Acquisition Date:


	Fair Value
Cash and cash equivalents	$	3,330
Accounts receivable	1,020


Other current and noncurrent assets	106
Intangible assets	13,400
Goodwill	53,830
Accounts payable, accrued expenses, and other liabilities, current and noncurrent	(774)
Deferred revenue, current and noncurrent	(4,950)

Deferred income taxes	(3,020)
Net assets acquired	$	62,942

Due to the timing of the transaction, initial accounting for the acquisition is not complete, and further measurement period adjustments may occur in fiscal year 2026, but no later than one year from the Sandbox Acquisition Date. The Company has estimated the preliminary fair value of net assets acquired based on information currently available and with the assistance of independent third-party valuations and will continue to adjust those estimates as additional information becomes available, valuations are finalized and the tax returns for the pre-acquisition period are completed. The primary areas of the acquisition accounting that remain preliminary relate to, but are not limited to, (i) finalizing the review and valuation of intangible assets (including key assumptions, inputs and estimates), (ii) finalizing the Company’s review of certain assets acquired and liabilities assumed, (iii) finalizing the evaluation and valuation of certain legal matters and/or loss contingencies, including those that the Company may not yet be aware of but meet the requirement to qualify as a pre-acquisition contingency, (iv) finalizing our estimate of the impact of acquisition accounting on deferred income taxes or liabilities, including uncertain tax positions, and (v) finalizing the Company’s review of the acquired contracts and related contract assets and liabilities. As the initial acquisition accounting is based on preliminary assessments, actual values may differ materially when final information becomes available. The Company believes the information gathered to date provides a reasonable basis for estimating the preliminary fair values of assets acquired and liabilities assumed. The Company will continue to evaluate these items until they are satisfactorily resolved and make necessary adjustments, within the allowable measurement period.


	Fair Value		Useful Life
Trade name	$	400	1 year
Customer relationships	8,500		10 years
Developed technology	4,500		5 years
Total intangible assets subject to amortization	$	13,400

Developed technology represents the preliminary fair value of Sandbox Banking’s technology, customer relationships represent the preliminary fair value of the underlying relationships with Sandbox Banking’s customers, and trade names represent the preliminary fair value of Sandbox Banking’s company name. The Company continues to assess the rates used in the preliminary valuation methods such as, but not limited to, the discount rates for developed technology, customer relationships and trade name and customer attrition rate for customer relationships.

Goodwill is primarily attributable to expanded market opportunities, synergies expected from the acquisition, and assembled workforce. The goodwill is not expected to be deductible for tax.

The financial results of Sandbox Banking since the Sandbox Acquisition Date are included in the Company’s unaudited condensed consolidated financial statements and are not material to the Company. The Company has not disclosed pro-forma revenue and earnings attributable to Sandbox Banking as they did not have a material effect on the Company’s consolidated financial statements.

- Definition

The entire disclosure for business combination.

+ References

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+ Details

Stockholders' Equity

9 Months Ended

Oct. 31, 2025

Equity [Abstract]

Stockholders’ Equity

Stock Repurchase Program

In March 2025, our Board of Directors authorized a stock repurchase program of up to $100.0 million of our outstanding common stock (the “Stock Repurchase Program”). The Company may make repurchases, from time to time, through open market purchases, block trades, in privately negotiated transactions, accelerated stock repurchase transaction, or by other means. Open market repurchases will be structured to occur in accordance with applicable federal securities laws. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases under this authorization. The volume, price, timing, and manner of any repurchases will be determined at the Company’s discretion, subject to general market conditions, as well as the Company’s management of capital, general business conditions, other investment opportunities, regulatory requirements and other factors. The Stock Repurchase Program does not obligate the Company to repurchase any specific amount of common stock, has no time limit, and may be modified, suspended, or discontinued at any time without notice at the discretion of our Board of Directors.

The following table summarizes the stock repurchase activity under the Company’s Stock Repurchase Program (in thousands, except share and per share data):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Total number of shares repurchased	—		1,423,701		—		3,996,483
Average price per share(1)	$	—	$	27.71	$	—	$	25.02
Aggregate purchase price(1)	$	—	$	39,454	$	—	$	100,000

(1) Excludes transaction costs and excise tax associated with the repurchases, if any.

All repurchases were made in open market transactions.

As of October 31, 2025, the Company had completed the purchase authorization under the Stock Repurchase Program.

Stock Options

Stock option activity for the nine months ended October 31, 2025 was as follows:


	Number of Shares	Weighted Average Exercise Price
Outstanding, January 31, 2025	811,602	$	7.22

Expired or forfeited	(1,627)	14.70
Exercised	(274,046)	5.67
Outstanding, October 31, 2025	535,929	$	7.99
Exercisable, October 31, 2025	535,929	$	7.99
Fully vested or expected to vest, October 31, 2025	535,929	$	7.99

Restricted Stock Units

RSU activity during the nine months ended October 31, 2025 was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested, January 31, 2025	6,105,459	$	32.78
Granted	3,664,333	24.75
Vested	(2,057,539)	33.71
Forfeited	(941,732)	30.79
Nonvested, October 31, 2025	6,770,521	$	28.47

As of October 31, 2025, total unrecognized compensation expense related to non-vested RSUs was $153.3 million, adjusted for estimated forfeitures, based on the estimated fair value of the Company’s common stock at the time of grant. That cost is expected to be recognized over a weighted average period of 2.79 years.

Employee Stock Purchase Plan

The first offering period for the Employee Stock Purchase Plan (“ESPP”) began on July 1, 2021 and ended on December 31, 2021. Thereafter, offering periods begin each year on January 1 and July 1.

The fair value of ESPP shares during the nine months ended October 31, 2024 and 2025 was estimated at the date of grant using the Black-Scholes option valuation model based on assumptions as follows for ESPP awards:


	Nine Months Ended October 31,
	2024	2025
Expected life (in years)	0.50	0.50
Expected volatility	38.70% - 38.91%	40.74% - 46.91%
Expected dividends	0.00%	0.00%
Risk-free interest rate	5.24% - 5.37%	4.25% - 4.29%

Stock-Based Compensation Expense

Stock-based compensation expense included in our unaudited condensed consolidated statements of operations were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Cost of subscription revenues	$	733	$	804	$	2,088	$	2,298
Cost of professional services and other revenues	2,940		3,230		8,699		9,299
Sales and marketing	4,394		4,008		12,534		10,682
Research and development	4,208		4,096		13,720		11,896
General and administrative	5,696		6,113		15,974		18,506
Total stock-based compensation expense	$	17,971	$	18,251	$	53,015	$	52,681

- Definition

The entire disclosure for equity.

+ References

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+ Details

Stockholders' Equity (Tables)

9 Months Ended

Oct. 31, 2025

Equity [Abstract]

Schedule of Share Repurchase Activity Under Share Repurchase Program

The following table summarizes the stock repurchase activity under the Company’s Stock Repurchase Program (in thousands, except share and per share data):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Total number of shares repurchased	—		1,423,701		—		3,996,483
Average price per share(1)	$	—	$	27.71	$	—	$	25.02
Aggregate purchase price(1)	$	—	$	39,454	$	—	$	100,000

(1) Excludes transaction costs and excise tax associated with the repurchases, if any.

Schedule of Stock Option Activity

Stock option activity for the nine months ended October 31, 2025 was as follows:


	Number of Shares	Weighted Average Exercise Price
Outstanding, January 31, 2025	811,602	$	7.22

Expired or forfeited	(1,627)	14.70
Exercised	(274,046)	5.67
Outstanding, October 31, 2025	535,929	$	7.99
Exercisable, October 31, 2025	535,929	$	7.99
Fully vested or expected to vest, October 31, 2025	535,929	$	7.99

Schedule of Nonvested Restricted Stock Units Activity

RSU activity during the nine months ended October 31, 2025 was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Nonvested, January 31, 2025	6,105,459	$	32.78
Granted	3,664,333	24.75
Vested	(2,057,539)	33.71
Forfeited	(941,732)	30.79
Nonvested, October 31, 2025	6,770,521	$	28.47

Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions


	Nine Months Ended October 31,
	2024	2025
Expected life (in years)	0.50	0.50
Expected volatility	38.70% - 38.91%	40.74% - 46.91%
Expected dividends	0.00%	0.00%
Risk-free interest rate	5.24% - 5.37%	4.25% - 4.29%

Schedule of Share-Based Compensation Expense

Stock-based compensation expense included in our unaudited condensed consolidated statements of operations were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Cost of subscription revenues	$	733	$	804	$	2,088	$	2,298
Cost of professional services and other revenues	2,940		3,230		8,699		9,299
Sales and marketing	4,394		4,008		12,534		10,682
Research and development	4,208		4,096		13,720		11,896
General and administrative	5,696		6,113		15,974		18,506
Total stock-based compensation expense	$	17,971	$	18,251	$	53,015	$	52,681

Stockholders' Equity - Schedule of Nonvested Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Oct. 31, 2025 $ / shares shares
Number of Shares
Nonvested, beginning of period (in shares) \| shares	6,105,459
Granted (in shares) \| shares	3,664,333
Vested (in shares) \| shares	(2,057,539)
Forfeited (in shares) \| shares	(941,732)
Nonvested, end of period (in shares) \| shares	6,770,521
Weighted Average Grant Date Fair Value
Nonvested, beginning of period (in USD per share) \| $ / shares	$ 32.78
Granted (in USD per share) \| $ / shares	24.75
Vested (in USD per share) \| $ / shares	33.71
Forfeited (in USD per share) \| $ / shares	30.79
Nonvested, end of period (in USD per share) \| $ / shares	$ 28.47

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Oct. 31, 2025 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Sean Desmond [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 4, 2025, Sean Desmond, President and Chief Executive Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 218,269 shares of our common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until December 31, 2026, or earlier if all transactions under the trading arrangement are completed.
Name	Sean Desmond
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 4, 2025
Expiration Date	December 31, 2026
Arrangement Duration	483 days
Aggregate Available	218,269
Jeanette Sellers [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 16, 2025, Jeanette Sellers, SVP of Accounting and Controllership, terminated a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 9,968 shares of our common stock. The trading arrangement was intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement was until May 29, 2026, or earlier if all transactions under the trading arrangement are completed. On September 16, 2025, Jeanette Sellers, SVP of Accounting and Controllership, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 12,988 shares of our common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until August 14, 2026, or earlier if all transactions under the trading arrangement are completed.
Trading Arrangement Was Until May 29, 2026 [Member] \| Jeanette Sellers [Member]
Trading Arrangements, by Individual
Name	Jeanette Sellers
Title	SVP of Accounting and Controllership
Rule 10b5-1 Arrangement Terminated	true
Termination Date	September 16, 2025
Expiration Date	May 29, 2026
Aggregate Available	9,968
Trading Arrangement Is Until August 14, 2026 [Member] \| Jeanette Sellers [Member]
Trading Arrangements, by Individual
Name	Jeanette Sellers
Title	SVP of Accounting and Controllership
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 16, 2025
Expiration Date	August 14, 2026
Arrangement Duration	332 days
Aggregate Available	12,988

Revolving Credit Facility	9 Months Ended
Revolving Credit Facility	Oct. 31, 2025
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility On February 11, 2022, the Company entered into a Credit Agreement (the “2022 Credit Agreement”), by and among the Company, nCino OpCo (the “Borrower”), certain subsidiaries of the Company as guarantors, and Bank of America, N.A. as lender (the “Lender”), pursuant to which the Lender provided to the Borrower a senior secured revolving credit facility of up to $50.0 million (the “2022 Credit Facility”). The 2022 Credit Facility included borrowing capacity available for letters of credit subject to a sublimit of $7.5 million. Any issuance of letters of credit would have reduced the amount available under the 2022 Credit Facility. The Company was also required to maintain at least $5.0 million of the Company’s cash and/or marketable securities with the Lender. On February 9, 2024, the Company entered into a First Amendment to extend the existing maturity date of the 2022 Credit Facility provided for under the 2022 Credit Agreement to February 11, 2025. On March 17, 2024, the Company entered into the Second Amendment which increased our borrowing availability to $100.0 million and extended the existing maturity date of the 2022 Credit Facility to March 17, 2029. Borrowings under the 2022 Credit Facility accrued interest, at the Borrower’s option, at: (i) a base rate equal to the greatest of (a) the Lender’s “prime rate,” (b) the federal funds rate plus 0.50%, and (c) the Term SOFR rate plus 1.00% (provided that the base rate shall not be less than 0.00%), plus a margin of 1.3125%; or (ii) the Term SOFR rate (provided that the Term SOFR shall not be less than 0.00%), plus a margin of 2.3125%, in each case with such margin subject to a step down based on achievement of a certain leverage ratio. The Company was also required to pay an unused commitment fee to the Lender of 0.30% of the average daily unutilized commitments (with a step down based on achievement of a certain leverage ratio). The Company was also required to pay customary letter of credit fees. On October 28, 2024, the Company terminated the 2022 Credit Agreement above and entered into a new Credit Agreement (the “2024 Credit Agreement”), by and among the Company, nCino OpCo, Inc. (the “Borrower”), certain subsidiaries of the Company as guarantors, the lenders party thereto (the “Lenders”) and Bank of America, N.A. as administrative agent (the “Agent”). The 2024 Credit Agreement includes a senior secured revolving credit facility of up to $250.0 million (the “2024 Credit Facility”) with a maturity date of October 28, 2029. The 2024 Credit Facility includes borrowing capacity available for letters of credit subject to a sublimit of $45.0 million. Any issuances of letters of credit will reduce the amount available under the 2024 Credit Facility. Borrowings under the 2024 Credit Facility bear interest, at the Borrower’s option, at: (i) a base rate equal to the greatest of (a) the Agent’s “prime rate,” (b) the federal funds rate plus 0.50%, and (c) the Term SOFR rate plus 1.00% (provided that the base rate shall not be less than 0.00%), plus a margin of 1.00%; or (ii) the Term SOFR rate (provided that the Term SOFR shall not be less than 0.00%), plus a margin of 2.00%, in each case with such margin subject to step ups based on certain leverage ratios. The Company is also required to pay an unused commitment fee to the Lenders of 0.25% of the average daily unutilized commitments (with step ups based on certain leverage ratios). The Company must also pay customary letter of credit fees. The Company may repay amounts borrowed at any time without penalty. Borrowings under the 2024 Credit Facility may be reborrowed. The 2024 Credit Agreement contains representations and warranties, affirmative, negative and financial covenants, and events of default that are customary for loans of this type. The financial covenants require the Company and its subsidiaries on a consolidated basis to maintain (i) a Consolidated Total Leverage Ratio not in excess of 4.00:1.00 as of the end of any fiscal quarter, and (ii) a Consolidated Interest Coverage Ratio not less than 3.00:1.00 as of the end of any fiscal quarter, in each case, commencing with the fiscal quarter ended January 31, 2025. The 2024 Credit Facility is guaranteed by the Company and each of its current and future material domestic subsidiaries (the “Guarantors”) and secured by substantially all of the personal property, subject to customary exceptions, of the Borrower and the Guarantors, in each case, now owned or later acquired, including a pledge of all of the Borrower’s capital stock, the capital stock of all of the Company’s domestic subsidiaries, and 65% of the capital stock of foreign subsidiaries that are directly owned by the Borrower or a Guarantor. As of January 31, 2025 and October 31, 2025, unamortized debt issuance costs were $1.4 million and $1.1 million, respectively, and are included in long-term prepaid expenses and other assets. The Company had $166.0 million and $203.5 million outstanding and no letters of credit issued under the 2024 Credit Facility and was in compliance with all covenants as of January 31, 2025 and October 31, 2025, respectively. As of October 31, 2025, the applicable interest rate was 6.16%. The available borrowing capacity under the 2024 Credit Facility was $46.5 million as of October 31, 2025.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Balance Sheet Components (Tables)

9 Months Ended

Oct. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of January 31, 2025		As of October 31, 2025
Prepaid expenses	$	19,729	$	18,174
Other current assets	1,343		1,568
Prepaid expenses and other current assets	$	21,072	$	19,742

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following:


	As of January 31, 2025		As of October 31, 2025
Furniture and fixtures	$	11,712	$	11,850
Computers and equipment	7,193		6,544
Buildings and land	56,379		56,379
Leasehold improvements	28,046		30,143
Construction in progress	627		—
Total property and equipment, gross	103,957		104,916
Less accumulated depreciation	(29,004)		(28,581)
Total property and equipment, net	$	74,953	$	76,335

The Company recognized depreciation expense as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Cost of subscription revenues	$	124	$	107	$	366	$	333
Cost of professional services and other revenues	322		350		991		1,034
Sales and marketing	316		324		981		940
Research and development	602		493		1,830		1,583
General and administrative	192		166		576		527
Total depreciation expense	$	1,556	$	1,440	$	4,744	$	4,417

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	As of January 31, 2025		As of October 31, 2025
Contingent consideration liability	$	—	$	8,500
Accrued compensation and benefits	23,626		16,481
Accrued expenses	16,239		12,555
Accrued expenses and other current liabilities	$	39,865	$	37,536

Related-Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Apr. 30, 2025	Oct. 31, 2025	Oct. 31, 2024	Jan. 31, 2025	Nov. 01, 2022
Related Party Transaction [Line Items]
Equity securities without readily determinable fair value, amount		$ 0.0		$ 2.5
Realized investment gains		$ 1.2	$ 0.0
Zest AI
Related Party Transaction [Line Items]
Ownership percentage by parent (as percent)					10.00%
Realized investment gains	$ 1.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Restructuring - Narrative (Details) - USD ($) $ in Millions	Oct. 31, 2025	Jul. 31, 2025	Oct. 31, 2025
Restructuring and Related Activities [Abstract]
Restructuring and related cost, number of positions eliminated, period percent		7.00%
Restructuring and related cost, incurred cost	$ 0.1
Cost of lease termination			$ 1.7
Payments of lease termination			$ 0.6

Business Combinations - Schedule of Estimated Fair Value of Consideration Transferred (Details) - USD ($) $ in Thousands	Apr. 30, 2025	Feb. 07, 2025	Oct. 31, 2025	Jul. 31, 2025	Jan. 31, 2025
Business Combination [Line Items]
Contingent consideration			$ 8,500		$ 0
Sandbox
Business Combination [Line Items]
Cash consideration (net of working capital adjustments)	$ 53,500	$ 53,488
Noncash consideration for settlement of preexisting contract		1,354
Contingent consideration		8,100		$ 500
Business combination, consideration transferred		$ 62,942

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basic and Diluted Net Income (Loss) per Share - Schedule of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Basic net income (loss) per share:
Net income (loss) attributable to nCino, Inc.	$ 6,539	$ (5,252)	$ (3,156)	$ (19,268)
Denominator
Weighted-average common shares outstanding, basic (in shares)	114,407,430	115,611,833	113,594,540	114,970,622
Basic net income (loss) per share attributable to nCino, Inc. (in USD per share)	$ 0.06	$ (0.05)	$ (0.03)	$ (0.17)
Numerator
Net income (loss) attributable to nCino, Inc.	$ 6,539	$ (5,252)	$ (3,156)	$ (19,268)
Denominator
Weighted-average common shares outstanding, basic (in shares)	114,407,430	115,611,833	113,594,540	114,970,622
Effect of diluted stock options, unvested RSUs, and shares of common stock issuable under the ESPP (in shares)	1,422,788	0	0	0
Weighted-average common shares outstanding, diluted (in shares)	115,830,218	115,611,833	113,594,540	114,970,622
Diluted loss per share attributable to nCino, Inc. (in USD per share)	$ 0.06	$ (0.05)	$ (0.03)	$ (0.17)

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2025 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,019,375
Acquisitions	53,830
Measurement period adjustments	(10,413)
Translation adjustments	8,360
Goodwill, ending balance	$ 1,071,152

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

Revolving Credit Facility (Details) $ in Thousands	Oct. 28, 2024 USD ($)	Mar. 17, 2024 USD ($)	Oct. 31, 2025 USD ($)	Jan. 31, 2025 USD ($)	Feb. 11, 2022 USD ($)
Line of Credit Facility [Line Items]
Financial covenants, required minimum cash					$ 5,000
Debt instrument, capital stock of foreign subsidiaries owned, percentage			65.00%
Unamortized debt issuance costs			$ 1,100	$ 1,400
Revolving credit facility, noncurrent			203,500	166,000
Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Debt instrument, covenant, consolidated interest coverage ratio	3.00
Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Debt instrument, covenant, senior secured leverage ratio	4.00
Revolving Credit Facility \| Bank of America, NA \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity					50,000
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 45,000
Letter of Credit \| Line of Credit
Line of Credit Facility [Line Items]
Revolving credit facility, noncurrent			$ 203,500	$ 166,000
Debt instrument, interest rate, stated percentage			6.16%
Line of credit, available borrowing capacity			$ 46,500
Letter of Credit \| Bank of America, NA \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity					$ 7,500
Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 250,000	$ 100,000
Line of credit facility, unused capacity, commitment fee percentage	0.25%	0.30%
Line of Credit \| Variable Rate, Case One
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%	1.3125%
Line of Credit \| Variable Rate, Case Two
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	2.00%	2.3125%
Line of Credit \| Federal Funds Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.50%	0.50%
Line of Credit \| Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%	1.00%
Line of Credit \| Base Rate \| Minimum \| Variable Rate, Case One
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.00%	0.00%
Line of Credit \| Base Rate \| Minimum \| Variable Rate, Case Two
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.00%	0.00%

Fair Value Measurements - Narrative (Details)	3 Months Ended		9 Months Ended
Fair Value Measurements - Narrative (Details)	Oct. 31, 2025 USD ($)	Oct. 31, 2024 USD ($)	Oct. 31, 2025 USD ($)	Oct. 31, 2024 USD ($)	Feb. 07, 2025 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity securities without readily determinable fair value, upward price adjustment, annual amount			$ 500,000	$ 0.0
Cumulative unrealized gains	$ 700,000		700,000
Impairment loss	$ 0	$ 0	0	0
Realized investment gains			$ 1,200,000	$ 0.0
Measurement Input, Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs \| pURE	0.067		0.067
Weighted Average \| Measurement Input Expected Achievement
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable inputs \| pURE	0.867		0.867
Sandbox
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Potential payment					$ 10,000,000.0

Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 18,174	$ 19,729
Other current assets	1,568	1,343
Prepaid expenses and other current assets	$ 19,742	$ 21,072

Business Combinations - Narrative (Details) - USD ($) $ in Thousands							1 Months Ended	3 Months Ended		6 Months Ended	9 Months Ended
	May 01, 2025	Apr. 30, 2025	Feb. 07, 2025	Nov. 05, 2024	Apr. 01, 2024	Mar. 20, 2024	Jul. 31, 2024	Oct. 31, 2025	Apr. 30, 2025	Jul. 31, 2025	Oct. 31, 2025	Jan. 31, 2025
Business Combination [Line Items]
Goodwill adjustment											$ 10,413
Contingent consideration								$ 8,500			$ 8,500	$ 0
Restricted Stock Units (RSUs)
Business Combination [Line Items]
Granted (in shares)											3,664,333
DocFox
Business Combination [Line Items]
Payments to acquire businesses, post combination expense						$ 2,000
Transaction costs						3,900
Payments to acquire businesses, gross						74,300
Payments to acquire businesses, options settled						6,200
Payments to acquire businesses, consideration transferred						4,200
Business combination, consideration transferred						$ 72,400
Goodwill adjustment									$ 1,000
Decrease goodwill									$ 1,000
DocFox \| Restricted Stock Units (RSUs)
Business Combination [Line Items]
Granted (in shares)						198,505
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, fair value						$ 6,100
Award vesting period (in years)						4 years
Integrated Lending Technologies, LLC
Business Combination [Line Items]
Transaction costs					$ 900
Business combination, consideration transferred					19,900
Business combination, provisional information, initial accounting incomplete, adjustment, consideration transferred							$ 100
Business acquisition, goodwill, expected tax deductible amount					$ 11,100
FullCircl
Business Combination [Line Items]
Transaction costs				$ 3,600
Payments to acquire businesses, gross				129,200
Business combination, consideration transferred				142,400
Goodwill adjustment								$ 0		$ 9,400
Decrease goodwill										9,400
Contingent consideration				15,000
Present value				13,200
Accretion (amortization) of discounts and premiums, business combinations				$ 1,800
Accretion period of discount on business combination (in years)				2 years
FullCircl \| Restricted Stock Units (RSUs)
Business Combination [Line Items]
Granted (in shares)				52,877
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, fair value				$ 2,000
Award vesting period (in years)				4 years
Sandbox
Business Combination [Line Items]
Transaction costs			$ 1,400
Payments to acquire businesses, gross		$ 53,500	53,488
Business combination, consideration transferred			62,942
Contingent consideration			8,100							$ 500
Present value			$ 10,000
Sandbox \| Restricted Stock Units (RSUs)
Business Combination [Line Items]
Granted (in shares)	91,160
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, fair value	$ 2,100
Award vesting period (in years)	4 years

Variable Interest Entity and Redeemable Non-Controlling Interest - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2023	Oct. 31, 2019
Schedule of Equity Method Investments [Line Items]
Investment from redeemable non-controlling interest	$ 1.0
nCino K.K
Schedule of Equity Method Investments [Line Items]
Payments to noncontrolling interests		$ 4.7
Consolidation, less than wholly owned subsidiary, parent ownership interest, changes, purchase of Interest by parent	$ 1.0
nCino K.K \| nCino K.K
Schedule of Equity Method Investments [Line Items]
Ownership percentage by parent (as percent)	51.00%	51.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Cash and cash equivalents	$ 87,590	$ 120,928
Allowance for doubtful accounts	1,245	1,229
Investments (related party $2,500 and $0 at January 31, 2025 and October 31, 2025, respectively)	$ 7,262	$ 9,294
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares, issued (in shares)	118,431,293	115,996,852
Common stock, shares outstanding (in shares)	114,434,810	115,996,852
Treasury stock, at cost (in shares)	3,996,483	0
Related Party
Investments (related party $2,500 and $0 at January 31, 2025 and October 31, 2025, respectively)	$ 0	$ 2,500
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 2,554	$ 2,254

Fair Value Measurements

9 Months Ended

Oct. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:

Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2. Significant other inputs that are directly or indirectly observable in the marketplace.

Level 3. Significant unobservable inputs which are supported by little or no market activity.

The carrying amounts of cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value as of January 31, 2025 and October 31, 2025 because of the relatively short duration of these instruments.

The carrying amount of any outstanding borrowings on the Company’s revolving credit facility approximates fair value due to the variable interest rates of the borrowings.

The Company evaluated its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. The following table summarizes the Company’s financial assets measured at fair value as of January 31, 2025 and October 31, 2025 and indicates the fair value

hierarchy of the valuation:


	Fair value measurements on a recurring basis as of January 31, 2025
	Level 1		Level 2		Level 3
Assets:
Money market accounts (included in cash and cash equivalents)	$	38,841	$	—	$	—
Time deposits (included in long-term prepaid expenses and other assets)	339		—		—
Total assets	$	39,180	$	—	$	—


	Fair value measurements on a recurring basis as of October 31, 2025
	Level 1		Level 2		Level 3
Assets:
Money market accounts (included in cash and cash equivalents)	$	20,688	$	—	$	—
Time deposits (included in prepaid expenses and other current assets)	134		—		—
Time deposits (included in long-term prepaid expenses and other assets)	158		—		—
Total assets	$	20,980	$	—	$	—
Liabilities:
Contingent consideration (included in accrued expenses and other current liabilities)	$	—	$	—	$	8,500
Total liabilities	$	—	$	—	$	8,500

All of the Company’s money market accounts are classified within Level 1 because the Company’s money market accounts are valued using quoted market prices in active exchange markets including identical assets.

The following table summarizes the change in fair value of the contingent consideration with significant unobservable inputs:


Balance, January 31, 2025	$	—
Contingent consideration in connection with business acquisition	8,100
Changes in fair value	400
Balance, October 31, 2025	$	8,500

The contingent consideration consists of the potential earn-out payment related to the Company’s acquisition of Alphapack, Co. dba Sandbox Banking (“Sandbox Banking”) on February 7, 2025 and has a maximum potential payment of $10.0 million. The fair value of the contingent consideration was determined using a probability weighted discounted cash flow model. Changes in the fair value of the contingent consideration can result from changes in assumed discount periods and rates, and from changes pertaining to the estimated or actual achievement of the defined milestones. This contingent liability was classified as Level 3 within the fair value hierarchy. Changes in fair values of contingent consideration are recognized in general and administrative expenses on the Company’s unaudited condensed consolidated statement of operations.

The unobservable inputs used in the valuation as of October 31, 2025 included expected payment in the first half of fiscal 2027, a weighted average expected achievement percentage of 86.7%, and a discount rate of 6.7%.

There were no transfers between levels of the fair value hierarchy during the three and nine months ended October 31, 2024 and 2025.

Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The Company’s assets measured at fair value on a non-recurring basis include the investments accounted for under the measurement alternative. Unrealized gains as a result of an observable price change were $0.0 million and $0.5 million for

the nine months ended October 31, 2024 and 2025, respectively. Cumulative unrealized gains were $0.7 million for investments accounted for under the measurement alternative as of October 31, 2025. There was no impairment recognized for the three and nine months ended October 31, 2024 and 2025. Realized gains from the sale of an investment reflects the difference between the sales proceeds and the carrying value of the investment at the beginning of the period or the purchase date, if later. Realized gains were $0.0 million and $1.2 million for the nine months ended October 31, 2024 and 2025, respectively. See Note 12 “Related-Party Transactions” for additional information on the sale of an investment.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)(3)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Leases (Tables)

9 Months Ended

Oct. 31, 2025

Leases [Abstract]

Schedule of Lease Cost

The components of lease expense were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Operating lease expense	$	1,418	$	1,094	$	4,144	$	3,916
Variable lease expense	657		704		1,927		1,999
Short-term lease expense	41		58		189		185
Sublease income	(232)		—		(232)		(174)
Total lease expense	$	1,884	$	1,856	$	6,028	$	5,926

Supplemental cash flow information related to operating leases were as follows:


	Nine Months Ended October 31,
	2024		2025
Cash paid for amounts included in the measurement of operating lease liabilities	$	3,236	$	3,927
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	810		1,533
Operating lease right-of-use assets and operating lease liabilities reductions related to operating lease terminations or modifications	1,947		2,102

Schedule of Future Minimum Lease Payments for Operating Lease

Future minimum lease payments as of October 31, 2025 were as follows:


	Operating Leases
Fiscal 2026 (remaining three months)	$	1,187
Fiscal 2027	4,358
Fiscal 2028	2,381
Fiscal 2029	1,739
Fiscal 2030	1,292
Thereafter	7,015
Total lease liabilities	17,972
Less: imputed interest	(3,708)
Total lease obligations	14,264
Less: current obligations	(4,124)
Long-term lease obligations	$	10,140

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 8,615	$ (4,152)	$ 913	$ (17,472)
Other comprehensive income (loss):
Foreign currency translation	(633)	213	(936)	622
Other comprehensive income (loss)	(633)	213	(936)	622
Comprehensive income (loss)	7,982	(3,939)	(23)	(16,850)
Less comprehensive loss attributable to redeemable non-controlling interest:
Net loss attributable to redeemable non-controlling interest	(33)	(186)	(31)	(409)
Foreign currency translation attributable to redeemable non-controlling interest	6	5	0	3
Comprehensive loss attributable to redeemable non-controlling interest	(27)	(181)	(31)	(406)
Comprehensive income (loss) attributable to nCino, Inc.	$ 8,009	$ (3,758)	$ 8	$ (16,444)

Summary of Business and Significant Accounting Policies - Schedule of Activity in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 1,248	$ 1,204	$ 1,229	$ 1,451
Charged to (recovery of) bad debt expense	(3)	0	150	25
Charged to deferred revenue	0	0	20	0
Write-offs and other	0	(32)	(156)	(304)
Translation adjustments	0	0	2	0
Balance, end of period	$ 1,245	$ 1,172	$ 1,245	$ 1,172

Basic and Diluted Net Income (Loss) per Share

9 Months Ended

Oct. 31, 2025

Earnings Per Share [Abstract]

Basic and Diluted Net Income (Loss) per Share

Basic net income (loss) per share is computed by dividing net income (loss) attributable to nCino, Inc. by the weighted-average number of common shares outstanding for the fiscal period, net of treasury stock. Diluted net income (loss) per share is computed by giving effect to all potential weighted average dilutive common stock, including stock options issued and outstanding, non-vested RSUs issued and outstanding, and shares issuable pursuant to the ESPP. The dilutive effect of outstanding awards is reflected in diluted earnings per share by application of the treasury stock method. There is no difference between the basic and diluted loss per share when there is a net loss because inclusion of potentially issuable shares would be anti-dilutive.

The components of basic and diluted net income (loss) per share for periods presented are as follows (in thousands, except share and per share data):


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Basic net income (loss) per share:
Numerator
Net income (loss) attributable to nCino, Inc.	$	(5,252)	$	6,539	$	(19,268)	$	(3,156)
Denominator
Weighted-average common shares outstanding	115,611,833		114,407,430		114,970,622		113,594,540
Basic net income (loss) per share attributable to nCino, Inc.	$	(0.05)	$	0.06	$	(0.17)	$	(0.03)


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to nCino, Inc.	$	(5,252)	$	6,539	$	(19,268)	$	(3,156)
Denominator
Weighted-average common shares outstanding, basic	115,611,833		114,407,430		114,970,622		113,594,540
Effect of diluted stock options, unvested RSUs, and shares of common stock issuable under the ESPP	—		1,422,788		—		—
Weighted-average common shares outstanding, diluted	115,611,833		115,830,218		114,970,622		113,594,540
Diluted net income (loss) per share attributable to nCino, Inc.	$	(0.05)	$	0.06	$	(0.17)	$	(0.03)

The following potential outstanding common stock were excluded from the diluted net income (loss) per share computation because the effect would have been anti-dilutive:


	Nine Months Ended October 31,
	2024	2025
Stock options issued and outstanding	920,412	535,929
Nonvested RSUs issued and outstanding	6,367,467	6,770,521
Shares issuable pursuant to the ESPP	77,914	88,428

Segment Information - Schedule of Revenues by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Net revenue by geographic region
Revenues	$ 152,163	$ 138,797	$ 445,115	$ 399,287
United States
Net revenue by geographic region
Revenues	118,604	109,191	346,461	316,357
United Kingdom
Net revenue by geographic region
Revenues	18,272	13,248	55,146	39,134
Other
Net revenue by geographic region
Revenues	$ 15,287	$ 16,358	$ 43,508	$ 43,796

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
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-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Restructuring - Schedule of Restructuring Plan Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Restructuring and Related Activities [Abstract]
Included in accrued expenses and other current liabilities	$ 1,104
Included in other long-term liabilities	308
Total	$ 1,412	$ 0

Segment Information (Tables)

9 Months Ended

Oct. 31, 2025

Segment Reporting [Abstract]

Schedule of Financial Information

The following table presents selected financial information that is provided to our CODM:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Revenues	$	138,797	$	152,163	$	399,287	$	445,115
Less:
Adjusted cost of revenues(1)	45,586		49,332		134,896		148,581
Adjusted sales and marketing expense(1)	22,464		24,984		68,738		78,753
Adjusted research and development expense(1)	28,831		25,211		83,571		80,937
Adjusted general and administrative expense(1)	13,874		12,777		40,297		42,145

Interest income	(482)		(339)		(1,408)		(1,269)
Interest expense	1,653		4,335		4,965		13,229
Adjusted other (income) expense, net(2)	208		(21)		236		(1,885)
Other segment items(3)	28,226		27,964		84,104		78,663
Income tax provision (benefit)	2,589		(695)		1,360		5,048
Net income (loss)	$	(4,152)	$	8,615	$	(17,472)	$	913

(1) Cost of revenue, sales and marketing expense, research and development expense, and general and administrative expense in the consolidated statements of operations, adjusted to exclude amortization of intangible assets, stock-based compensation expense, acquisition-related expenses, certain litigation expenses, and restructuring and related charges, if any.

(2) Beginning in the first quarter of fiscal 2026, other (income) expense, net in the consolidated statements of operations, adjusted to exclude intercompany foreign currency exchange gains or losses from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity. Prior period amounts recast to conform to the current presentation.

(3) Other segment items are the adjustments described in the notes above.

Schedule of Revenues by Geographic Region

Revenues by geographic region were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
United States	$	109,191	$	118,604	$	316,357	$	346,461
United Kingdom	13,248		18,272		39,134		55,146
Other	16,358		15,287		43,796		43,508
	$	138,797	$	152,163	$	399,287	$	445,115

Schedule of Property and Equipment, Net and Operating ROU Assets, Net by Geographic Region

Long-lived assets, which consist of property and equipment, net and operating lease right-of-use assets, net by geographic region were as follows:


	As of January 31, 2025		As of October 31, 2025

United States	$	79,115	$	71,187
United Kingdom	9,760		16,228
Other	2,104		1,846
	$	90,979	$	89,261

Balance Sheet Components -Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 104,916	$ 103,957
Less accumulated depreciation	(28,581)	(29,004)
Total property and equipment, net	76,335	74,953
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	11,850	11,712
Computers and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	6,544	7,193
Buildings and land
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	56,379	56,379
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	30,143	28,046
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 0	$ 627

Restructuring (Tables)

9 Months Ended

Oct. 31, 2025

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The Company’s restructuring charges for the nine months ended October 31, 2025 were as follows:




	Severance Costs		Exit Costs		Asset Write-offs		Total
Cost of subscription revenues	$	426	$	53	$	17	$	496
Cost of professional services and other revenues	537		139		46		722
Sales and marketing	1,288		128		42		1,458
Research and development	3,732		221		73		4,026
General and administrative	1,080		1,192		1,155		3,427
Total restructuring charges	$	7,063	$	1,733	$	1,333	$	10,129

The activity of the Restructuring Plan liabilities was as follows:


Balance at January 31, 2025	$	—
Charges incurred	10,129
Cash payments	(8,043)
Non-cash items	(674)
Balance at October 31, 2025	$	1,412

Restructuring Plan liabilities are included in our unaudited condensed consolidated balance sheets as follows:


	As of October 31, 2025

Included in accrued expenses and other current liabilities	$	1,104
Included in other long-term liabilities	308
Total	$	1,412

Revenues - Schedule of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Disaggregation of Revenue [Line Items]
Total revenues	$ 152,163	$ 138,797	$ 445,115	$ 399,287
Subscription
Disaggregation of Revenue [Line Items]
Total revenues	133,411	119,894	389,751	344,211
Professional services and other
Disaggregation of Revenue [Line Items]
Total revenues	18,752	18,903	55,364	55,076
United States
Disaggregation of Revenue [Line Items]
Total revenues	118,604	109,191	346,461	316,357
United States \| Subscriptions - non-mortgage
Disaggregation of Revenue [Line Items]
Total revenues	84,483	76,272	247,721	225,011
United States \| Subscriptions - mortgage
Disaggregation of Revenue [Line Items]
Total revenues	21,060	20,639	60,883	55,478
United States \| Professional services and other
Disaggregation of Revenue [Line Items]
Total revenues	13,061	12,280	37,857	35,868
International
Disaggregation of Revenue [Line Items]
Total revenues	33,559	29,606	98,654	82,930
International \| Subscription
Disaggregation of Revenue [Line Items]
Total revenues	27,868	22,983	81,147	63,722
International \| Professional services and other
Disaggregation of Revenue [Line Items]
Total revenues	$ 5,691	$ 6,623	$ 17,507	$ 19,208

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 5
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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Fair Value Measurements (Tables)

9 Months Ended

Oct. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table summarizes the Company’s financial assets measured at fair value as of January 31, 2025 and October 31, 2025 and indicates the fair value

hierarchy of the valuation:


	Fair value measurements on a recurring basis as of January 31, 2025
	Level 1		Level 2		Level 3
Assets:
Money market accounts (included in cash and cash equivalents)	$	38,841	$	—	$	—
Time deposits (included in long-term prepaid expenses and other assets)	339		—		—
Total assets	$	39,180	$	—	$	—


	Fair value measurements on a recurring basis as of October 31, 2025
	Level 1		Level 2		Level 3
Assets:
Money market accounts (included in cash and cash equivalents)	$	20,688	$	—	$	—
Time deposits (included in prepaid expenses and other current assets)	134		—		—
Time deposits (included in long-term prepaid expenses and other assets)	158		—		—
Total assets	$	20,980	$	—	$	—
Liabilities:
Contingent consideration (included in accrued expenses and other current liabilities)	$	—	$	—	$	8,500
Total liabilities	$	—	$	—	$	8,500

Schedule of Change in Fair Value of Contingent Consideration

The following table summarizes the change in fair value of the contingent consideration with significant unobservable inputs:


Balance, January 31, 2025	$	—
Contingent consideration in connection with business acquisition	8,100
Changes in fair value	400
Balance, October 31, 2025	$	8,500

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024	Oct. 31, 2025	Oct. 31, 2024
Revenues
Total revenues	$ 152,163	$ 138,797	$ 445,115	$ 399,287
Cost of revenues
Total cost of revenues	58,477	53,745	176,862	158,856
Gross profit	93,686	85,052	268,253	240,431
Operating expenses
Sales and marketing	33,107	29,729	103,343	89,487
Research and development	29,541	33,039	97,549	97,291
General and administrative	19,322	23,108	66,454	66,046
Total operating expenses	81,970	85,876	267,346	252,824
Income (loss) from operations	11,716	(824)	907	(12,393)
Non-operating income (expense)
Interest income	339	482	1,269	1,408
Interest expense	(4,335)	(1,653)	(13,229)	(4,965)
Other income (expense), net	200	432	17,014	(162)
Income (loss) before income taxes	7,920	(1,563)	5,961	(16,112)
Income tax provision (benefit)	(695)	2,589	5,048	1,360
Net income (loss)	8,615	(4,152)	913	(17,472)
Net loss attributable to redeemable non-controlling interest (Note 2)	(33)	(186)	(31)	(409)
Adjustment attributable to redeemable non-controlling interest (Note 2)	2,109	1,286	4,100	2,205
Net income (loss) attributable to nCino, Inc.	$ 6,539	$ (5,252)	$ (3,156)	$ (19,268)
Net income (loss) per share attributable to nCino, Inc.:
Basic (in USD per share)	$ 0.06	$ (0.05)	$ (0.03)	$ (0.17)
Diluted (in USD per share)	$ 0.06	$ (0.05)	$ (0.03)	$ (0.17)
Weighted average number of common shares outstanding:
Basic (in shares)	114,407,430	115,611,833	113,594,540	114,970,622
Diluted (in shares)	115,830,218	115,611,833	113,594,540	114,970,622
Subscription
Revenues
Total revenues	$ 133,411	$ 119,894	$ 389,751	$ 344,211
Cost of revenues
Total cost of revenues	37,426	33,769	111,543	98,916
Professional services and other
Revenues
Total revenues	18,752	18,903	55,364	55,076
Cost of revenues
Total cost of revenues	$ 21,051	$ 19,976	$ 65,319	$ 59,940

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Leases [Abstract]
2026 (remaining)	$ 1,187
Fiscal 2027	4,358
Fiscal 2028	2,381
Fiscal 2029	1,739
Fiscal 2030	1,292
Thereafter	7,015
Total lease liabilities	17,972
Less: imputed interest	(3,708)
Total lease obligations	14,264
Less: current obligations	(4,124)	$ (5,153)
Long-term lease obligations	$ 10,140	$ 12,819

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2025	Jan. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 255,148	$ 239,174
Accumulated Amortization	(112,307)	(84,603)
Net Carrying Amount	142,841	154,571
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	102,053	97,029
Accumulated Amortization	(65,135)	(49,819)
Net Carrying Amount	36,918	47,210
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	149,788	139,315
Accumulated Amortization	(44,240)	(33,315)
Net Carrying Amount	105,548	106,000
Trademarks and trade name
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,938	1,461
Accumulated Amortization	(1,830)	(615)
Net Carrying Amount	108	846
Other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,369	1,369
Accumulated Amortization	(1,102)	(854)
Net Carrying Amount	$ 267	$ 515

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and Contingencies (Tables)

9 Months Ended

Oct. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Purchase Commitments and Future Minimum Lease Payments

Purchase commitments and future minimum lease payments required under financing obligations as of October 31, 2025 is as follows:


	Purchase commitments		Financing obligations - leased facility
Fiscal 2026 (remaining three months)	$	22,098	$	1,169
Fiscal 2027	85,298		3,958
Fiscal 2028	77,042		—
Fiscal 2029	896		—
Fiscal 2030	—		—
Thereafter	—		—
Total	$	185,334	$	5,127
Residual financing obligations and assets			49,617
Less: amount representing interest			(3,137)
Financing obligations			$	51,607

Commitments and Contingencies - Narrative (Details)	Oct. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Finance lease, weighted average discount rate (as percent)	5.70%

Commitments and Contingencies - Schedule of Purchase Commitments and Future Minimum Lease Payments (Details) $ in Thousands	Oct. 31, 2025 USD ($)
Purchase commitments
Fiscal 2026 (remaining)	$ 22,098
Fiscal 2027	85,298
Fiscal 2028	77,042
Fiscal 2029	896
Fiscal 2030	0
Thereafter	0
Total	185,334
Financing obligations - leased facility
Fiscal 2026 (remaining)	1,169
Fiscal 2027	3,958
Fiscal 2028	0
Fiscal 2029	0
Fiscal 2030	0
Thereafter	0
Total	5,127
Residual financing obligations and assets	49,617
Less: amount representing interest	(3,137)
Financing obligations	$ 51,607

Segment Information

9 Months Ended

Oct. 31, 2025

Segment Reporting [Abstract]

Segment Information

The Company’s chief operating decision maker (“CODM”) is the Company’s Chief Executive Officer, who reviews financial information on a consolidated basis. The Company brings together people and data to enable financial institutions to enhance strategic decision-making, risk management, and customer satisfaction through the selection of intelligent solutions provided by the nCino Platform as a SaaS company. As such, the Company has one operating and reportable segment. The CODM uses consolidated net income (loss) in deciding how to make operating decisions, allocate resources, and assess performance, including whether to reinvest profits into the existing business or to use in other ways, such as for acquisitions.

The following table presents selected financial information that is provided to our CODM:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Revenues	$	138,797	$	152,163	$	399,287	$	445,115
Less:
Adjusted cost of revenues(1)	45,586		49,332		134,896		148,581
Adjusted sales and marketing expense(1)	22,464		24,984		68,738		78,753
Adjusted research and development expense(1)	28,831		25,211		83,571		80,937
Adjusted general and administrative expense(1)	13,874		12,777		40,297		42,145

Interest income	(482)		(339)		(1,408)		(1,269)
Interest expense	1,653		4,335		4,965		13,229
Adjusted other (income) expense, net(2)	208		(21)		236		(1,885)
Other segment items(3)	28,226		27,964		84,104		78,663
Income tax provision (benefit)	2,589		(695)		1,360		5,048
Net income (loss)	$	(4,152)	$	8,615	$	(17,472)	$	913

(3) Other segment items are the adjustments described in the notes above.

Revenues by geographic region were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
United States	$	109,191	$	118,604	$	316,357	$	346,461
United Kingdom	13,248		18,272		39,134		55,146
Other	16,358		15,287		43,796		43,508
	$	138,797	$	152,163	$	399,287	$	445,115

Revenues by geography are determined based on the region of the Company’s contracting entity, which may be different than the region of the customer. For the three and nine months ended October 31, 2024 and 2025, only the United Kingdom, in addition to the United States, represented 10% or more of total revenues for the periods presented.

Long-lived assets, which consist of property and equipment, net and operating lease right-of-use assets, net by geographic region were as follows:


	As of January 31, 2025		As of October 31, 2025

United States	$	79,115	$	71,187
United Kingdom	9,760		16,228
Other	2,104		1,846
	$	90,979	$	89,261

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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+ Details

Restructuring

9 Months Ended

Oct. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring

In the second quarter of fiscal 2026, the Company announced a workforce reduction of approximately 7% and office space reductions in certain markets (collectively, the “Restructuring Plan”) in furtherance of its efforts to improve operational efficiencies. The Company substantially completed the Restructuring Plan during the second quarter of fiscal 2026. An additional $0.1 million was recorded in the third quarter, and the Company expects to finalize the process in fiscal 2026, subject to local law and consultation requirements.

Our restructuring costs consist primarily of severance and termination benefits, exit costs and asset write-offs. Severance costs generally include severance payments, out placement services, health insurance coverage and employer tax liabilities. Exit costs primarily consist of lease exit and contract termination costs. Lease termination costs include $1.7 million in lease termination payments, offset by a $0.6 million gain to derecognize the operating lease right-of-use assets and operating lease liabilities.

The Company’s restructuring charges for the nine months ended October 31, 2025 were as follows:




	Severance Costs		Exit Costs		Asset Write-offs		Total
Cost of subscription revenues	$	426	$	53	$	17	$	496
Cost of professional services and other revenues	537		139		46		722
Sales and marketing	1,288		128		42		1,458
Research and development	3,732		221		73		4,026
General and administrative	1,080		1,192		1,155		3,427
Total restructuring charges	$	7,063	$	1,733	$	1,333	$	10,129

The activity of the Restructuring Plan liabilities was as follows:


Balance at January 31, 2025	$	—
Charges incurred	10,129
Cash payments	(8,043)
Non-cash items	(674)
Balance at October 31, 2025	$	1,412

Restructuring Plan liabilities are included in our unaudited condensed consolidated balance sheets as follows:


	As of October 31, 2025

Included in accrued expenses and other current liabilities	$	1,104
Included in other long-term liabilities	308
Total	$	1,412

Leases

9 Months Ended

Oct. 31, 2025

Leases [Abstract]

Leases

Operating Leases

The Company leases its facilities and a portion of its equipment under various non-cancellable agreements, which expire at various times through December 2034, some of which include options to extend for up to one year. See Note 15 “Restructuring” regarding lease terminations in connection with the Restructuring Plan.

The components of lease expense were as follows:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Operating lease expense	$	1,418	$	1,094	$	4,144	$	3,916
Variable lease expense	657		704		1,927		1,999
Short-term lease expense	41		58		189		185
Sublease income	(232)		—		(232)		(174)
Total lease expense	$	1,884	$	1,856	$	6,028	$	5,926

Supplemental cash flow information related to operating leases were as follows:


	Nine Months Ended October 31,
	2024		2025
Cash paid for amounts included in the measurement of operating lease liabilities	$	3,236	$	3,927
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	810		1,533
Operating lease right-of-use assets and operating lease liabilities reductions related to operating lease terminations or modifications	1,947		2,102

The weighted-average remaining lease term and weighted-average discount rate for the Company’s operating lease liabilities as of October 31, 2025 were 7.02 years and 6.8%, respectively.

Future minimum lease payments as of October 31, 2025 were as follows:


	Operating Leases
Fiscal 2026 (remaining three months)	$	1,187
Fiscal 2027	4,358
Fiscal 2028	2,381
Fiscal 2029	1,739
Fiscal 2030	1,292
Thereafter	7,015
Total lease liabilities	17,972
Less: imputed interest	(3,708)
Total lease obligations	14,264
Less: current obligations	(4,124)
Long-term lease obligations	$	10,140

Business Combinations - Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived (Details) - USD ($) $ in Thousands	Feb. 07, 2025	Nov. 05, 2024	Apr. 01, 2024	Mar. 20, 2024
DocFox
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value				$ 24,600
DocFox \| Trade name
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value				$ 200
Useful Life				1 year
DocFox \| Customer relationships
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value				$ 16,400
Useful Life				10 years
DocFox \| Developed technology
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value				$ 8,000
Useful Life				5 years
Integrated Lending Technologies, LLC
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value			$ 8,660
Integrated Lending Technologies, LLC \| Trade name
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value			$ 210
Useful Life			1 year
Integrated Lending Technologies, LLC \| Customer relationships
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value			$ 5,870
Useful Life			10 years
Integrated Lending Technologies, LLC \| Developed technology
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value			$ 2,580
Useful Life			5 years
FullCircl
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value		$ 37,000
FullCircl \| Trade name
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value		$ 1,100
Useful Life		1 year
FullCircl \| Customer relationships
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value		$ 26,500
Useful Life		10 years
FullCircl \| Developed technology
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value		$ 9,400
Useful Life		5 years
Sandbox
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value	$ 13,400
Sandbox \| Trade name
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value	$ 400
Useful Life	1 year
Sandbox \| Customer relationships
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value	$ 8,500
Useful Life	10 years
Sandbox \| Developed technology
Intangible Asset, Acquired, Finite-Lived [Line Items]
Fair Value	$ 4,500
Useful Life	5 years

Revenues - Narrative (Details) $ in Millions	9 Months Ended
Revenues - Narrative (Details) $ in Millions	Oct. 31, 2025 USD ($)
Disaggregation of Revenue [Line Items]
Contract with customer, liability, revenue recognized	$ 190.9
Remaining performance obligation amount	$ 1,200.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-11-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation percentage	69.00%
Remaining performance obligation, expected timing of satisfaction	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-11-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation percentage	26.00%
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-11-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction	25 months
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-11-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction	48 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

+ Details

Variable Interest Entity and Redeemable Non-Controlling Interest (Tables)

9 Months Ended

Oct. 31, 2025

Noncontrolling Interest [Abstract]

Schedule of Activity in Redeemable Noncontrolling Interest

The following table summarizes the activity in the redeemable non-controlling interests for the period indicated below:


	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2025		2024		2025
Balance, beginning of period	$	4,133	$	10,345	$	3,428	$	8,286

Net loss attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest)	(186)		(33)		(409)		(31)
Foreign currency translation	5		6		3		—
Adjustment to redeemable non-controlling interest	1,286		2,109		2,205		4,100
Stock-based compensation expense(1)	5		8		16		80
Balance, end of period	$	5,243	$	12,435	$	5,243	$	12,435

(1) nCino K.K. stock options granted in accordance with nCino K.K.’s equity incentive plan.

Leases - Narrative (Details)	Oct. 31, 2025
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term (in years)	7 years 7 days
Operating lease, weighted average discount rate (as percent)	6.80%
Maximum
Lessee, Lease, Description [Line Items]
Term of contract (in years)	1 year

Fair Value Measurements - Schedule of Change in Fair Value of Contingent Consideration (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2025 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, January 31, 2025	$ 0
Contingent consideration in connection with business acquisition	8,100
Changes in fair value	400
Balance, October 31, 2025	$ 8,500

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024
Cash flows from operating activities
Net income (loss) attributable to nCino, Inc.	$ (3,156)	$ (19,268)
Net loss and adjustment attributable to redeemable non-controlling interest	4,069	1,796
Net income (loss)	913	(17,472)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	31,998	26,132
Non-cash operating lease costs	3,123	3,844
Amortization of costs capitalized to obtain revenue contracts	11,024	8,724
Amortization of debt issuance costs	215	60
Stock-based compensation	52,681	53,015
Change in fair value of contingent consideration	400	0
Deferred income taxes	2,579	(2,496)
Provision for bad debt	150	25
Net foreign currency gains	(14,178)	(658)
Gains on investments	(1,652)	0
Loss on disposal of long-lived assets	463	35
Change in operating assets and liabilities:
Accounts receivable	63,080	50,184
Costs capitalized to obtain revenue contracts	(12,445)	(13,199)
Prepaid expenses and other assets	1,482	656
Accounts payable	(897)	55
Accrued expenses and other liabilities	(12,807)	(148)
Deferred revenue	(46,066)	(41,604)
Operating lease liabilities	(3,134)	(2,936)
Other long term liabilities	198	1,001
Net cash provided by operating activities	77,127	65,218
Cash flows from investing activities
Acquisition of business, net of cash acquired	(50,263)	(90,839)
Acquisition of assets	0	(450)
Purchases of property and equipment	(7,040)	(1,466)
Sale of investment	3,684	0
Net cash used in investing activities	(53,619)	(92,755)
Cash flows from financing activities
Repurchases of common stock	(100,080)	0
Proceeds from borrowings on revolving credit facility	102,500	241,000
Payments on revolving credit facility	(65,000)	(75,000)
Payments of debt issuance costs	0	(1,382)
Exercise of stock options	1,566	2,223
Stock issuance under the employee stock purchase plan	2,444	2,514
Principal payments on financing obligations	(1,245)	(916)
Net cash provided by (used in) financing activities	(59,815)	168,439
Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash	2,922	(93)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(33,385)	140,809
Cash, cash equivalents, and restricted cash, beginning of period	121,267	117,444
Cash, cash equivalents, and restricted cash, end of period	87,882	258,253
Reconciliation of cash, cash equivalents, and restricted cash, end of period:
Cash and cash equivalents	87,590	257,894
Restricted cash included in prepaid expenses and other current assets	134	0
Restricted cash included in long-term prepaid expenses and other assets	158	359
Total cash, cash equivalents, and restricted cash, end of period	87,882	258,253
Supplemental disclosure of cash flow information
Cash paid for interest	12,323	4,846
Cash paid for taxes, net of refunds	3,504	2,770
Supplemental disclosure of noncash investing and financing activities
Fair value of contingent consideration in connection with business acquisition in accrued expenses and other current liabilities	8,100	0
Measurement period adjustments relating to business acquisitions	10,413	0
Noncash consideration in connection with business acquisition for settlement of a preexisting contract	1,354	0
Excise tax on repurchases of common stock	$ 263	$ 0

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2025	Oct. 31, 2024
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3,927	$ 3,236
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	1,533	810
Operating lease right-of-use assets and operating lease liabilities reductions related to operating lease terminations or modifications	$ 2,102	$ 1,947

Summary of Business and Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	Principles of Consolidation and Basis of Presentation: The financial information presented in the accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as set forth in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and in accordance with applicable rules and regulations of the Securities Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025, filed with the SEC on April 1, 2025. The unaudited condensed consolidated financial statements include accounts of the Company’s wholly-owned subsidiaries, as well as a variable interest entity (“VIE”) in which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods but are not necessarily indicative of the results of operations to be anticipated for the full fiscal 2026 or any future period.
Principles of Consolidation	Principles of Consolidation and Basis of Presentation: The financial information presented in the accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as set forth in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and in accordance with applicable rules and regulations of the Securities Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025, filed with the SEC on April 1, 2025. The unaudited condensed consolidated financial statements include accounts of the Company’s wholly-owned subsidiaries, as well as a variable interest entity (“VIE”) in which the Company is the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods but are not necessarily indicative of the results of operations to be anticipated for the full fiscal 2026 or any future period.
Reclassification	Reclassification: The Company reclassified certain prior year amounts in the unaudited condensed consolidated statement of cash flows within the cash flows from operating activities to conform to the current year presentation.
Variable Interest Entity	Variable Interest Entity: The Company holds an interest in a Japanese company (“nCino K.K.”) that is considered a VIE. nCino K.K. is considered a VIE as it has insufficient equity capital to finance its activities without additional financial support. The Company is the primary beneficiary of nCino K.K. as it has the power over the activities that most significantly impact the economic performance of nCino K.K. and has the obligation to absorb expected losses and the right to receive expected benefits that could be significant to nCino K.K., in accordance with accounting guidance. As a result, the Company consolidated nCino K.K. and all significant intercompany accounts have been eliminated. The Company will continue to assess whether it has a controlling financial interest and whether it is the primary beneficiary at each reporting period. Other than the Company’s equity investments, the Company has not provided financial or other support to nCino K.K. that it was not contractually obligated to provide. The assets of the VIE can only be used to settle the obligations of the VIE and the creditors of the VIE do not have recourse to the Company. The assets and liabilities of the VIE were not significant to the Company’s consolidated financial statements, except for cash which is reflected on the unaudited condensed consolidated balance sheets. See Note 2 “Variable Interest Entity and Redeemable Non-Controlling Interest” for additional information regarding the Company’s variable interest.
Redeemable Non-Controlling Interest	Redeemable Non-Controlling Interest: Redeemable non-controlling interest relates to minority investors of nCino K.K. An agreement with the minority investors of nCino K.K. contains redemption features whereby the interest held by the minority investors are redeemable either at the option of the (i) minority investors, or (ii) the Company, both beginning on the eighth anniversary of the initial capital contribution. If the interest of the minority investors were to be redeemed under this agreement, the Company would be required to redeem the interest based on a prescribed formula derived from the relative revenues of nCino K.K. and the Company. The balance of the redeemable non-controlling interest is reported at the greater of the initial carrying amount adjusted for the redeemable non-controlling interest’s share of earnings or losses and other comprehensive income or loss, or its estimated redemption value. The resulting changes in the estimated redemption amount (increases or decreases) are recorded with corresponding adjustments against retained earnings or, in the absence of retained earnings, additional paid-in-capital. These interests are presented on the unaudited condensed consolidated balance sheets outside of equity under the caption “Redeemable non-controlling interest.”
Use of Estimates	Use of Estimates: The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions made by the Company’s management are used for, but not limited to, revenue recognition including determining the nature and timing of satisfaction of performance obligations, variable consideration, and stand-alone selling price; the average period of benefit associated with costs capitalized to obtain revenue contracts; fair value of assets acquired and liabilities assumed for business combinations; fair value of contingent consideration; the useful lives of intangible assets; income taxes and the related valuation allowance on deferred tax assets; redemption value of redeemable non-controlling interest; and stock-based compensation. The Company assesses these estimates on a regular basis using historical experience and other factors. Actual results could differ from these estimates.
Concentration of Credit Risk and Significant Customers	Concentration of Credit Risk and Significant Customers: The Company’s financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, restricted cash, and accounts receivable. The Company’s cash and cash equivalents exceeded federally insured limits at January 31, 2025 and October 31, 2025. The Company maintains its cash, cash equivalents and restricted cash with high-credit-quality financial institutions.
Restricted Cash	Restricted Cash: Restricted cash consists of deposits held as collateral for the Company’s bank guarantees issued in place of security deposits for certain property leases and credit cards at January 31, 2025 and only for certain property leases at October 31, 2025. Restricted cash is included in long-term prepaid expenses and other assets on the consolidated balance sheets at January 31, 2025 and in prepaid expenses and other current assets and long-term prepaid expenses and other assets at October 31, 2025 in the unaudited condensed consolidated balance sheets.
Allowances	Allowances: The Company records allowances for doubtful accounts based upon the credit worthiness of customers, historical experience, the age of the accounts receivable, current market and economic conditions, and supportable forecasts about the future. Relevant risk characteristics include customer size and historical loss patterns. This estimate is analyzed quarterly and adjusted as necessary. The Company records the allowance against bad debt expense through the unaudited condensed consolidated statements of operations, included in general and administrative expenses, up to the amount of revenues recognized to date. Any incremental allowance is recorded as an offset to deferred revenue on the unaudited condensed consolidated balance sheets. Receivables are written off and charged against the recorded allowance when the Company has exhausted collection efforts without success.
Investments	Investments: The Company’s investments are non-marketable equity investments without readily determinable fair value and for which the Company does not have control or significant influence. The investments are measured at cost with adjustments for observable changes in price or impairment as permitted by the measurement alternative. The Company assesses at each reporting period if the investments continue to qualify for the measurement alternative. Gains or losses resulting from observable price changes are recognized currently in Other income (expense), net on the Company’s unaudited condensed consolidated statements of operations. The Company assesses the investments whenever events or changes in circumstances indicate that the carrying value of the investments may not be recoverable.
Foreign Currency	Foreign Currency: The functional currency of the Company’s foreign subsidiaries is generally the local currency. Adjustments resulting from translating foreign functional currency financial statements into United States (“U.S.”) dollars are recorded as a separate component on the unaudited condensed consolidated statements of comprehensive loss recorded in foreign currency translation line item. All assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenues and expenses are translated at the average exchange rate during the period. Equity transactions are translated using historical exchange rates. Foreign currency transaction gains and losses due to transactions denominated in a currency other than the functional currency are included in other income (expense), net in the unaudited condensed consolidated statements of operations and were $0.5 million and $0.2 million for the three months ended October 31, 2024 and 2025, respectively, and $(0.2) million and $15.3 million for the nine months ended October 31, 2024 and 2025, respectively, primarily related to remeasurement of various intercompany loans.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted: In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The guidance includes amendments to enhance existing income tax disclosure requirements, primarily related to the rate reconciliation and income taxes paid disclosures. The ASU is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply the ASU retrospectively. Early adoption is permitted. The Company expects to adopt 2023-09 in its consolidated financial statements for the fiscal year ended January 31, 2026. The adoption will require certain additional disclosures in the notes to the Company’s consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). The guidance includes amendments to require public companies to provide additional disclosure about certain costs and expenses. The ASU is effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements. In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The guidance includes amendments that provide a practical expedient for measuring credit losses on current accounts receivable and current contract assets under ASC 606 - Revenue from Contracts with Customers. The ASU is effective for annual periods beginning after December 15, 2025, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements. In September 2025, the FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which clarifies and modernizes certain aspects of the accounting for, and disclosure of, internal-use software costs. The ASU removes all references to software development project stages so that the guidance is neutral to different software development methods and clarifies the threshold entities apply to begin capitalizing costs. The ASU is effective for annual periods beginning after December 15, 2027, and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact that the adoption of this standard will have on the Company’s consolidated financial statements.