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nCino cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$34.0M in Q2 FY27 · $132M over twelve months

Operating cash flow$34.2M
Capital spending−$195K
Free cash flow+$34.0M
Cash / net income5.3×
Cash conversion cycle47 days

Analysis

In Q2 FY27, nCino generated $34.2M of operating cash flow and spent $195K on capital projects, leaving free cash flow of $34.0M. That is $21.4M more than in Q2 FY26 ($12.6M).

Over the twelve months to Jul 31, 2026, operating cash flow was $134M; the largest uses were buybacks ($240M), net borrowing (+) / repaid (−) ($126M), capital spending ($1.4M); besides operations, cash came from other financing ($193M), shares issued ($1.8M); the cash balance fell by $39.6M.

Operating cash flow was $34.2M against net income of $6.4M — 5.3× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$18.0M, depreciation & amortization +$10.1M, prepaid and other assets +$3.0M.

Its cash conversion cycle was 47 days (receivables 71 + inventory 0 − payables 23).

Free cash flow

nCino: free cash flow by quarternCino: free cash flow by quarter$5.1MQ3 FY25−$10.4MQ4 FY25$52.6MQ1 FY26$12.6MQ2 FY26$4.9MQ3 FY26$12.5MQ4 FY26$80.8MQ1 FY27$34.0MQ2 FY27
Operating cash flow less capital spending.
nCino: operating cash flow against capital spendingnCino: operating cash flow against capital spendingOperating cash flowCapital spending$5.8M$680KQ3 FY25−$10.0M$350KQ4 FY25$54.3M$1.7MQ1 FY26$17.7M$5.1MQ2 FY26$5.1M$174KQ3 FY26$12.9M$461KQ4 FY26$81.4M$614KQ1 FY27$34.2M$195KQ2 FY27
Latest (Q2 FY27): Operating cash flow $34.2M, Capital spending $195K.

Capital allocation, year by year

nCino: where the cash came from (up) and went (down), by fiscal yearnCino: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY22: Operating cash flow −$19.2MFY22: Net borrowing −$318KFY22: Shares issued $13.9MFY22: Capital spending −$5.5MFY22: Acquisitions −$269M$13.9MFY22FY23: Operating cash flow −$15.4MFY23: Net borrowing $28.9MFY23: Shares issued $3.8MFY23: Capital spending −$18.3MFY23: Acquisitions $676K$33.3MFY23FY24: Operating cash flow $57.3MFY24: Net borrowing −$31.2MFY24: Shares issued $4.5MFY24: Asset sales $43KFY24: Capital spending −$3.5M$61.8MFY24FY25: Operating cash flow $55.2MFY25: Net borrowing $165MFY25: Shares issued $2.8MFY25: Capital spending −$1.8MFY25: Acquisitions −$217M$223MFY25FY26: Operating cash flow $90.1MFY26: Net borrowing $45.9MFY26: Shares issued $2.0MFY26: Capital spending −$7.5MFY26: Acquisitions −$50.3MFY26: Buybacks −$125M$138MFY26
Over these 5 years operating cash flow totalled $168M; the largest uses were acquisitions ($536M) and buybacks ($125M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$83.3M
Debt$275M
Net debt$192M
Due within a year$9.8M

nCino funds itself: free cash flow was $132M over the last twelve months, and $83.3M of cash and investments stands against $275M of debt ($9.8M due within a year, 8.5× covered by cash).

Where the cash came from and went

nCino: sources (+) and uses (−) of cash, Q2 FY27nCino: sources (+) and uses (−) of cash, Q2 FY27Buybacks−$65.6MOperating cash flow$34.2MCash drawn (+) / kept (−)$19.5MNet borrowing (+) / repaid (−)$14.7MOther financing−$3.2MShares issued$689KCapital spending−$195KExchange rates−$112K
nCino: sources (+) and uses (−) of cash, TTM to Q2 FY27nCino: sources (+) and uses (−) of cash, TTM to Q2 FY27Buybacks−$240MOther financing$193MOperating cash flow$134MNet borrowing (+) / repaid (−)−$126MCash drawn (+) / kept (−)$39.6MShares issued$1.8MCapital spending−$1.4MExchange rates$365K

From profit to cash

nCino: net income to operating cash flow, Q2 FY27nCino: net income to operating cash flow, Q2 FY27Net income$6.4MDepreciation & amortization$10.1MStock-based pay$18.0MDeferred taxes$1.1MGains on disposals$91KReceivables$1.7MPayables−$818KDeferred revenue−$2.9MPrepaid and other assets$3.0MOther liabilities$57KOperating cash flow$34.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2771—2347
Q1 FY2781—2358
Q4 FY2678—2256
Q3 FY2656—2135
Q2 FY2663—2241
Q1 FY2678—2255
Q4 FY2569—2148
Q3 FY2548—2226

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$34.2M−$195K—−$65.6M$14.7M$689K$19.5M$34.0M
Q1 FY27$81.4M−$614K—−$110M−$150M$473K−$14.4M$80.8M
Q4 FY26$12.9M−$461K—−$25.0M$9.6M$415K−$803K$12.5M
Q3 FY26$5.1M−$174K—−$39.5M−$421K$272K$35.3M$4.9M
Q2 FY26$17.7M−$5.1M—−$20.0M−$5.4M$546K$10.4M$12.6M
Q1 FY26$54.3M−$1.7M−$50.3M−$40.6M$42.1M$748K−$12.3M$52.6M
Q4 FY25−$10.0M−$350K−$126M—−$386K$573K$137M−$10.4M
Q3 FY25$5.8M−$680K——$126M$486K−$131M$5.1M

nCino: income statement and cash flow

nCino, Q2 FY27: revenue $161M (+8% year over year), operating margin 8.5%. The chart follows the revenue to costs, profit and cash.

nCino: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.