Ncino, Inc. Financials
This page shows Ncino, Inc. (NCNO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
High-gross-margin software economics let nCino turn scale into cash self-funding before GAAP profitability, with overhead finally bending slower than revenue.
From FY2024 through FY2026, operating cash flow stayed far ahead of net income:$57.3M versus-$42.3M in FY2024. By FY2026 the same gap persisted at$90.1M versus$5.2M , meaning the business was economically self-funding before it looked meaningfully profitable on GAAP earnings, a stronger quality signal than the tiny reported margin alone suggests.
Gross margin stayed around
Capital intensity is low—capex was only
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Ncino, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Ncino, Inc. has an operating margin of 0.6%, meaning the company retains $1 of operating profit per $100 of revenue. This below-average margin results in a low score of 17/100, suggesting thin profitability after operating expenses. This is up from -3.4% the prior year.
Ncino, Inc.'s revenue grew 10.0% year-over-year to $594.8M, a solid pace of expansion. This earns a growth score of 53/100.
Ncino, Inc. carries a low D/E ratio of 0.55, meaning only $0.55 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
Ncino, Inc.'s current ratio of 1.00 is below the typical benchmark, resulting in a score of 15/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Ncino, Inc. has a free cash flow margin of 13.9%, earning a moderate score of 55/100. The company generates positive cash flow after capital investments, but with room for improvement.
Ncino, Inc. generates a 0.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 8/100. This is up from -3.1% the prior year.
Ncino, Inc. scores 1.87, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($1.8B) relative to total liabilities ($579.5M). This signals moderate financial risk that warrants monitoring.
Ncino, Inc. passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Ncino, Inc. generates $9.28 in operating cash flow ($90.1M OCF vs $9.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ncino, Inc. earns $0.2 in operating income for every $1 of interest expense ($3.7M vs $17.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Ncino, Inc. generated $594.8M in revenue in fiscal year 2026. This represents an increase of 10.0% from the prior year.
Ncino, Inc.'s EBITDA was $46.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 152.5% from the prior year.
Ncino, Inc. reported $9.7M in net income in fiscal year 2026. This represents an increase of 129.4% from the prior year.
Ncino, Inc. earned $0.05 per diluted share (EPS) in fiscal year 2026. This represents an increase of 115.2% from the prior year.
Cash & Balance Sheet
Ncino, Inc. generated $82.6M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 54.7% from the prior year.
Ncino, Inc. held $88.4M in cash against $0 in long-term debt as of fiscal year 2026.
Ncino, Inc. had 115M shares outstanding in fiscal year 2026. This represents a decrease of 1.6% from the prior year.
Margins & Returns
Ncino, Inc.'s gross margin was 60.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.
Ncino, Inc.'s operating margin was 0.6% in fiscal year 2026, reflecting core business profitability. This is up 4.0 percentage points from the prior year.
Ncino, Inc.'s net profit margin was 1.6% in fiscal year 2026, showing the share of revenue converted to profit. This is up 7.7 percentage points from the prior year.
Ncino, Inc.'s ROE was 0.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 4.0 percentage points from the prior year.
Capital Allocation
Ncino, Inc. invested $127.5M in research and development in fiscal year 2026. This represents a decrease of 1.5% from the prior year.
Ncino, Inc. spent $125.1M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding.
Ncino, Inc. invested $7.5M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 313.1% from the prior year.
NCNO Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $149.7M-1.6% | $152.2M+2.2% | $148.8M+3.2% | $144.1M+2.0% | $141.4M+1.9% | $138.8M+4.8% | $132.4M+3.4% | $128.1M |
| Cost of Revenue | $57.8M-1.2% | $58.5M-3.6% | $60.7M+5.2% | $57.7M+1.2% | $57.0M+6.1% | $53.7M-0.3% | $53.9M+5.4% | $51.2M |
| Gross Profit | $91.9M-1.9% | $93.7M+6.3% | $88.1M+1.9% | $86.4M+2.5% | $84.4M-0.8% | $85.1M+8.4% | $78.5M+2.0% | $76.9M |
| R&D Expenses | $30.0M+1.5% | $29.5M-14.8% | $34.7M+4.0% | $33.3M+3.8% | $32.1M-2.7% | $33.0M-3.6% | $34.3M+14.3% | $30.0M |
| SG&A Expenses | $25.9M+34.0% | $19.3M-24.2% | $25.5M+17.8% | $21.6M-10.6% | $24.2M+4.8% | $23.1M+13.3% | $20.4M-9.5% | $22.5M |
| Operating Income | $2.8M-75.9% | $11.7M+226.0% | -$9.3M-514.4% | -$1.5M+73.6% | -$5.7M-596.4% | -$824K+89.6% | -$7.9M-115.8% | -$3.7M |
| Interest Expense | $4.2M-2.5% | $4.3M-2.5% | $4.4M-0.1% | $4.5M+17.2% | $3.8M+129.8% | $1.7M-9.9% | $1.8M+24.2% | $1.5M |
| Income Tax | -$8.0M-1057.4% | -$695K-157.5% | $1.2M-73.3% | $4.5M+217.1% | -$3.9M-249.5% | $2.6M+47.7% | $1.8M+158.8% | -$3.0M |
| Net Income | $12.9M+96.7% | $6.5M+142.9% | -$15.3M-374.3% | $5.6M+140.4% | -$13.8M-162.4% | -$5.3M+52.4% | -$11.0M-271.0% | -$3.0M |
| EPS (Diluted) | N/A | $0.06+146.2% | $-0.13-360.0% | $0.05 | N/A | $-0.05+50.0% | $-0.10-233.3% | $-0.03 |
NCNO Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.6B+5.6% | $1.6B-3.4% | $1.6B-2.1% | $1.7B+2.5% | $1.6B+6.2% | $1.5B+7.7% | $1.4B-1.1% | $1.4B |
| Current Assets | $293.5M+40.3% | $209.2M-18.0% | $255.1M-6.8% | $273.7M-9.5% | $302.2M-13.3% | $348.6M+52.4% | $228.8M-3.3% | $236.6M |
| Cash & Equivalents | $88.4M+0.9% | $87.6M-28.8% | $122.9M-7.7% | $133.2M+10.2% | $120.9M-53.1% | $257.9M+112.4% | $121.4M-6.2% | $129.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $166.5M+91.5% | $86.9M-11.7% | $98.5M-5.7% | $104.4M-28.9% | $146.8M+125.8% | $65.0M-17.5% | $78.8M+0.4% | $78.5M |
| Goodwill | $1.1B+0.6% | $1.1B0.0% | $1.1B-0.9% | $1.1B+6.0% | $1.0B+12.2% | $908.6M+0.1% | $908.0M+0.1% | $907.5M |
| Total Liabilities | $579.5M+14.2% | $507.3M-7.6% | $548.9M-3.7% | $570.0M+11.2% | $512.8M+21.2% | $423.1M+28.3% | $329.8M-7.3% | $355.9M |
| Current Liabilities | $294.5M+41.5% | $208.1M-16.3% | $248.6M-4.6% | $260.7M+3.7% | $251.5M+40.6% | $178.9M-15.2% | $211.0M-4.8% | $221.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.1B+1.4% | $1.0B-1.5% | $1.1B-1.4% | $1.1B-1.6% | $1.1B+0.1% | $1.1B+1.2% | $1.1B+1.0% | $1.1B |
| Retained Earnings | -$375.8M+2.2% | -$384.4M+2.2% | -$393.0M-3.6% | -$379.4M+1.5% | -$385.3M-4.2% | -$369.8M-1.1% | -$365.9M-3.1% | -$354.9M |
NCNO Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $12.9M+155.1% | $5.1M-71.4% | $17.7M-67.3% | $54.3M+642.2% | -$10.0M-273.4% | $5.8M+15.6% | $5.0M-90.8% | $54.4M |
| Capital Expenditures | $461K+164.9% | $174K-96.6% | $5.1M+199.7% | $1.7M+390.9% | $350K-48.5% | $680K+53.2% | $444K+29.8% | $342K |
| Free Cash Flow | $12.5M+154.8% | $4.9M-61.1% | $12.6M-76.1% | $52.6M+607.3% | -$10.4M-303.4% | $5.1M+11.9% | $4.6M-91.6% | $54.1M |
| Investing Cash Flow | -$461K-164.9% | -$174K+96.6% | -$5.1M+89.3% | -$48.3M+61.8% | -$126.4M-15131.6% | -$830K-19.3% | -$696K+99.2% | -$91.2M |
| Financing Cash Flow | -$13.2M+66.6% | -$39.6M-76.7% | -$22.4M-1097.1% | $2.3M+10.3% | $2.0M-98.4% | $125.3M+1077.1% | -$12.8M-122.9% | $56.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $25.0M-36.6% | $39.5M+97.3% | $20.0M-50.7% | $40.6M | $0 | $0 | $0 | $0 |
NCNO Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.4%-0.2pp | 61.6%+2.4pp | 59.2%-0.8pp | 60.0%+0.3pp | 59.7%-1.6pp | 61.3%+2.0pp | 59.3%-0.8pp | 60.0% |
| Operating Margin | 1.9%-5.8pp | 7.7%+14.0pp | -6.3%-5.2pp | -1.1%+3.0pp | -4.1%-3.5pp | -0.6%+5.4pp | -6.0%-3.1pp | -2.9% |
| Net Margin | 8.6%+4.3pp | 4.3%+14.5pp | -10.3%-14.1pp | 3.9%+13.6pp | -9.8%-6.0pp | -3.8%+4.6pp | -8.3%-6.0pp | -2.3% |
| Return on Equity | 1.2%+0.6pp | 0.6%+2.1pp | -1.4%-2.0pp | 0.5%+1.8pp | -1.3%-0.8pp | -0.5%+0.6pp | -1.0%-0.8pp | -0.3% |
| Return on Assets | 0.8%+0.4pp | 0.4%+1.4pp | -0.9%-1.3pp | 0.3%+1.2pp | -0.9%-0.5pp | -0.4%+0.4pp | -0.8%-0.6pp | -0.2% |
| Current Ratio | 1.000.0 | 1.01-0.0 | 1.03-0.0 | 1.05-0.2 | 1.20-0.7 | 1.95+0.9 | 1.08+0.0 | 1.07 |
| Debt-to-Equity | 0.55+0.1 | 0.49-0.0 | 0.52-0.0 | 0.53+0.1 | 0.47+0.1 | 0.39+0.1 | 0.31-0.0 | 0.33 |
| FCF Margin | 8.3%+5.1pp | 3.2%-5.2pp | 8.5%-28.0pp | 36.5%+43.8pp | -7.3%-11.0pp | 3.7%+0.2pp | 3.4%-38.8pp | 42.2% |
Note: The current ratio is below 1.0 (1.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Frequently Asked Questions
What is Ncino, Inc.'s annual revenue?
Ncino, Inc. (NCNO) reported $594.8M in total revenue for fiscal year 2026. This represents a 10.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ncino, Inc.'s revenue growing?
Ncino, Inc. (NCNO) revenue grew by 10% year-over-year, from $540.7M to $594.8M in fiscal year 2026.
Is Ncino, Inc. profitable?
Yes, Ncino, Inc. (NCNO) reported a net income of $9.7M in fiscal year 2026, with a net profit margin of 1.6%.
What is Ncino, Inc.'s EBITDA?
Ncino, Inc. (NCNO) had EBITDA of $46.0M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ncino, Inc.'s gross margin?
Ncino, Inc. (NCNO) had a gross margin of 60.6% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ncino, Inc.'s operating margin?
Ncino, Inc. (NCNO) had an operating margin of 0.6% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Ncino, Inc.'s net profit margin?
Ncino, Inc. (NCNO) had a net profit margin of 1.6% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Ncino, Inc.'s return on equity (ROE)?
Ncino, Inc. (NCNO) has a return on equity of 0.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Ncino, Inc.'s free cash flow?
Ncino, Inc. (NCNO) generated $82.6M in free cash flow during fiscal year 2026. This represents a 54.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ncino, Inc.'s operating cash flow?
Ncino, Inc. (NCNO) generated $90.1M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Ncino, Inc.'s total assets?
Ncino, Inc. (NCNO) had $1.6B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Ncino, Inc.'s capital expenditures?
Ncino, Inc. (NCNO) invested $7.5M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Ncino, Inc. spend on research and development?
Ncino, Inc. (NCNO) invested $127.5M in research and development during fiscal year 2026.
What is Ncino, Inc.'s current ratio?
Ncino, Inc. (NCNO) had a current ratio of 1.00 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is Ncino, Inc.'s debt-to-equity ratio?
Ncino, Inc. (NCNO) had a debt-to-equity ratio of 0.55 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ncino, Inc.'s return on assets (ROA)?
Ncino, Inc. (NCNO) had a return on assets of 0.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Ncino, Inc.'s Altman Z-Score?
Ncino, Inc. (NCNO) has an Altman Z-Score of 1.87, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ncino, Inc.'s Piotroski F-Score?
Ncino, Inc. (NCNO) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ncino, Inc.'s earnings high quality?
Ncino, Inc. (NCNO) has an earnings quality ratio of 9.28x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ncino, Inc. cover its interest payments?
Ncino, Inc. (NCNO) has an interest coverage ratio of 0.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ncino, Inc.?
Ncino, Inc. (NCNO) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.