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Software - Application · Technology · Fiscal year ends Jan 31
nCino reported revenue of $595M in the fiscal year ended Jan 2026, up 10.0% from the year before. Operating income was $4M, an operating margin of 0.6%, and net income was $5M. Operating cash flow of $90M less capital expenditure of $8M left free cash flow of $83M. Net debt was $125M.
Ranks among the 83 software - application companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 274 | 408 | 477 | 541 | 595 |
| Cost of revenue | 111 | 170 | 191 | 216 | 235 |
| Gross profit | 162 | 239 | 285 | 325 | 360 |
| Research & development | 79.4 | 122 | 117 | 129 | 128 |
| Selling, general & admin | 154 | 211 | 207 | 213 | 229 |
| Operating income | −71.4 | −94.0 | −39.5 | −18.1 | 3.7 |
| Interest expense | 1.5 | 2.8 | 4.1 | 8.8 | 17.5 |
| Pre-tax income | −74.0 | −97.8 | −41.9 | −35.6 | 6.7 |
| Income tax | −23.8 | 4.1 | 1.6 | −2.5 | −3.0 |
| Net income | −49.4 | −103 | −42.3 | −37.9 | 5.2 |
| Diluted EPS | −0.51 | −0.93 | −0.38 | −0.33 | 0.05 |
| Diluted shares | 96.7 | 111 | 113 | 115 | 114 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 88.0 | 82.0 | 112 | 121 | 88.4 |
| Receivables | 74.5 | 99.5 | 113 | 147 | 167 |
| Current assets | 184 | 207 | 251 | 302 | 294 |
| Net PP&E | 60.7 | 84.4 | 79.1 | 75.0 | 75.6 |
| Goodwill | 841 | 839 | 839 | 1,019 | 1,078 |
| Total assets | 1,301 | 1,327 | 1,340 | 1,610 | 1,648 |
| Payables | 11.4 | 11.9 | 11.8 | 13.6 | 14.5 |
| Deferred revenue | 123 | 155 | 171 | 191 | 211 |
| Current liabilities | 174 | 205 | 215 | 252 | 294 |
| Short-term debt | – | – | – | – | 0.0 |
| Long-term debt | – | – | – | – | 214 |
| Total liabilities | 231 | 300 | 288 | 513 | 579 |
| Shareholders' equity | 1,068 | 1,024 | 1,049 | 1,089 | 1,056 |
| Backlog (remaining obligations) | 912 | 944 | 1,000 | 1,200 | 1,300 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | −19.2 | −15.4 | 57.3 | 55.2 | 90.1 |
| Capital expenditure | 5.5 | 18.3 | 3.5 | 1.8 | 7.5 |
| Free cash flow | −24.7 | −33.7 | 53.8 | 53.4 | 82.6 |
| Depreciation & amortisation | 10.0 | 34.7 | 45.3 | 36.3 | 42.3 |
| Stock-based compensation | 28.5 | 50.2 | 58.0 | 71.6 | 73.9 |
| Acquisitions | 269 | −0.7 | 0.0 | 217 | 50.3 |
| Share buybacks | – | – | 0.0 | 0.0 | 125 |
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 49.1% | 16.7% | 13.5% | 10.0% |
| Gross margin | 59.3% | 58.5% | 59.8% | 60.1% | 60.6% |
| Operating margin | −26.1% | −23.0% | −8.3% | −3.4% | 0.6% |
| Net margin | −18.1% | −25.2% | −8.9% | −7.0% | 0.9% |
| Return on equityBlank when equity is negative | −4.6% | −10.0% | −4.0% | −3.5% | 0.5% |
| ROCEEBIT ÷ (assets − current liabilities) | −6.3% | −8.4% | −3.5% | −1.3% | 0.3% |
| Free cash flow margin | −9.0% | −8.3% | 11.3% | 9.9% | 13.9% |
| Cash conversion (CFO ÷ net income) | 0.39x | 0.15x | −1.35x | −1.46x | 17.4x |
| Receivable days | 99 | 89 | 87 | 99 | 102 |
| Payable days | 37 | 26 | 23 | 23 | 23 |
| Interest cover | −47.1x | −33.5x | −9.56x | −2.07x | 0.21x |
| Debt ÷ equity | – | – | – | – | 0.20x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | – | – | 125 |
| Current ratio | 1.05x | 1.01x | 1.17x | 1.20x | 1.00x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.