nCino Earnings: What To Look For From NCNO

Max Juang /
2024/03/25 2:49 pm EDT

Maker of operating system for banks nCino (NASDAQ:NCNO) will be reporting earnings. Here's what you need to know.

Last quarter nCino reported revenues of $121.9 million, up 15.8% year on year, beating analyst revenue expectations by 1.1%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter.

Is nCino buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting nCino's revenue to grow 13.8% year on year to $124.2 million, slowing down from the 45.7% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.12 per share.

nCino Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 3%.

Looking at nCino's peers in the vertical software segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Q2 Holdings delivered top-line growth of 10.6% year on year, beating analyst estimates by 0.4% and Procore Technologies reported revenues up 28.7% year on year, exceeding estimates by 4.7%. Q2 Holdings traded up 9.9% on the results, and Procore Technologies was up 1.9%.

Read our full analysis of Q2 Holdings's results here and Procore Technologies's results here.

Investors in the vertical software segment have had steady hands going into the earnings, with the stocks down on average 0.9% over the last month. nCino is up 2.8% during the same time, and is heading into the earnings with analyst price target of $35.6, compared to share price of $30.57.

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