nCino has reported a net loss of $18.6m for the fourth quarter of fiscal year 2025 (Q4 FY25), ending 31 January 2025, reversing a net profit of $1.2m recorded in the same period a year earlier.
The US-based fintech company cited a significant impact from non-operating foreign currency fluctuations on intercompany loans, amounting to $10.3m, as a key factor in the decline.
On a non-GAAP basis, net income for the quarter was $13.9m, down from $23.8 million in the fourth quarter of fiscal 2024.
Earnings per diluted share under non-GAAP measures came in at $0.12, compared to $0.21 one year earlier, with $0.09 attributed to currency-related movements. The GAAP net loss translated to $0.16 per share, compared to diluted earnings of $0.01 per share in the prior-year quarter.
Total revenue for Q4 FY25 stood at $141.4m, reflecting a year-on-year increase of 14% from $123.7m. Subscription revenue accounted for $125m of the total, a 16% increase from $107.5m a year earlier.
nCino posted a GAAP operating loss of $5.7m in the reported quarter, which widened from $3.2m in the same quarter last year. However, on a non-GAAP basis, operating income rose to $24.4m from $19.3m, marking a 26% improvement.
For the full fiscal year 2025, nCino recorded a GAAP net loss of $37.9m, compared to a loss of $42.3m in fiscal 2024.
Total revenue for the year was $540.7m, up 13% from $476.5m. Subscription revenue for the period grew by 15% to reach $469.2m.
Cash, cash equivalents and restricted cash stood at $121.3m as of 31 January 2025. The company also reported $166m in borrowings under its revolving credit facility.
Annual contract value (ACV) reached $516.4m by the end of the quarter, reflecting a 13% year-on-year increase on a reported basis and 8% on an organic basis. When adjusted for constant currency, ACV increased 14%, or 9% organically.
Recently, nCino acquired Sandbox Banking, a move aimed at strengthening its integration platform and improving connectivity across digital banking infrastructure.
For the upcoming first quarter ending 30 April 2025, the company has guided for total revenue between $138.75m and $140.75m, with subscription revenue expected between $121.75m and $123.75m.
Non-GAAP operating income is projected to range between $22.5m and $24.5m, while non-GAAP net income per diluted share is forecast at $0.15 to $0.16.
For the full fiscal year ending 31 January 2026, nCino expects total revenue between $574.5m and $578.5m, subscription revenue between $503m and $507m, and ACV ranging from $564m to $567m.
Non-GAAP operating income is projected at between $107m and $111m, with non-GAAP net income per diluted share expected in the range of $0.66 to $0.69.
nCino CEO Sean Desmond said: “We ended the year strong, with meaningful year-over-year subscription revenues and ACV growth, while continuing to realise efficiencies across our operations.
“With AI embedded across our onboarding, account opening, lending and portfolio management offerings that span commercial, consumer, small business and mortgage lines of business globally, nCino is uniquely positioned to seize the vertical AI market opportunity as we continue the journey of delivering long-term value to our stakeholders.”
