nCino Inc. (NCNO) Shares Surge in After-Hours Trading, Ending at $34.50

After the market closed, nCino Inc. (symbol: NCNO) impressed the financial community as its stock price soared to $34.50. The flurry of trading saw 174,540 of the company’s shares bought and sold, leading to an admirable climb of $4.32 per share. This increase is not just a number—it’s a significant 14.31% leap from the regular session’s close, showcasing a wave of investor confidence under the moonlight.

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On the news front, March 26, 2024, marked an important disclosure from nCino Inc., as the firm unveiled its financial achievements for both the fourth quarter and the cumulative fiscal year, wrapping up on the last day of January.

The financial milestones for the closing quarter of fiscal 2024 were particularly striking:

  • Revenue Growth: The company reported a revenue increase to $123.7 million—a healthy 13% more than the same quarter last year. A closer look reveals a robust 16% increase in subscription revenue, hitting $107.5 million.
  • Operating Results: The operational loss on a GAAP basis was trimmed down substantially to just $3.2 million, a stark improvement over last year’s $23.3 million deficit. On the flip side, non-GAAP operational income reached $19.3 million, vaulting from the previous year’s $1.8 million.
  • Profitability: GAAP net income for nCino stood at $1.2 million, flipping the script from a $21.2 million net loss just a year ago. The non-GAAP figures tell an even brighter story, with net income surging to $23.8 million from $4.4 million.
  • Per-Share Earnings: Per-share earnings shook off last year’s losses, posting GAAP earnings of $0.01 per share compared to the prior year’s $0.19 loss per share. Non-GAAP earnings per share advanced to $0.21 from a mere $0.04.
  • Commitments: The total Remaining Performance Obligation reached a formidable $1.0 billion, marking a 9% climb year-over-year. Of this, $675.4 million is anticipated to be recognized in the next two years, up 6% from the year before.
  • Liquidity: The firm concluded January with a healthy cash position, boasting $117.4 million in cash and cash equivalents, including restricted cash.

These figures are a testament to nCino’s robust and enduring presence in the cloud banking arena, further solidifying its position as an essential fixture in the fintech world.