nCino (NCNO) Reports Earnings Tomorrow: What To Expect

Max Juang /
2024/05/28 3:02 am EDT

Bank software company nCino (NASDAQ:NCNO) will be announcing earnings results tomorrow after market hours. Here's what you need to know.

nCino met analysts' revenue expectations last quarter, reporting revenues of $123.7 million, up 13.3% year on year. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations and a miss of analysts' billings estimates.

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

This quarter, analysts are expecting nCino's revenue to grow 11.4% year on year to $126.6 million, slowing from the 20.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.13 per share.

nCino Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. nCino has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 1.9% on average.

Looking at nCino's peers in the vertical software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Q2 Holdings delivered year-on-year revenue growth of 8.2%, beating analysts' expectations by 1.3%, and Toast reported revenues up 31.3%, topping estimates by 3.3%. Q2 Holdings traded up 15.2% following the results while Toast was also up 13%.

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

Investors in the vertical software segment have had steady hands going into earnings, with share prices flat over the last month. nCino is up 3.5% during the same time and is heading into earnings with an average analyst price target of $37.5 (compared to the current share price of $30.48).

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