Filing Flows › nCino (NCNO) › Q1 FY26
nCino (NCNO) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed May 28, 2025
nCino (NCNO) reported revenue of $144M for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and +2% from the quarter before. Operating margin was -1.0%, net earnings $6.0M (4.2% of revenue).
nCino, Q1 FY26: revenue $144M (+12% year over year), operating margin -1.0%, net earnings $6.0M, operating cash flow $54.3M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $144M | +2% | +13% |
| Operating profit | −$1.5M | — | — |
| Net earnings | $6.0M | — | — |
| Operating cash flow | $54.3M | — | -0.2% |
| Free cash flow | $52.6M | — | -3% |
What changed
Revenue was $144.1M in Q1 FY26, up 13% year over year and up 2% from the previous quarter. Subscription was the largest line at 87% of revenue. Subscription added $15.2M year over year (up 14%), 95% of the total change.
Gross margin was 60.0%, down 0.1 points from a year earlier. Operating costs exceeded revenue by $1.5M, an operating margin of -1.0%. Operating expenses grew 9% against revenue growth of 13%. The fastest-growing cost line was Sales & marketing (+18%). Net earnings were $5.6M. The effective tax rate was 43.0%. Non-operating items added $12.1M, 114% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $54.3M (roughly flat year over year), 903% of net income including minority interests. Non-cash charges added back $10.7M of depreciation and amortization and $15.8M of share-based compensation. Working capital and other items added $21.8M. After purchases of property and equipment ($1.7M), free cash flow as the company reports it was $52.6M.
Questions
What was nCino's revenue in the first quarter fiscal 2026?
nCino (NCNO) reported revenue of $144M for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and +2% from the quarter before.
Was nCino profitable in the first quarter fiscal 2026?
Operating loss was $1.5M (-1.0% of revenue) and net earnings $6.0M.
Source: nCino 10-Q on SEC EDGAR.