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How nCino (NCNO) makes money

nCino (NCNO) made $161M of revenue in the second quarter fiscal 2027 (Q2 FY27), +8% from a year earlier. Subscription brought in $143M (89%); Professional services and other brought in $17.5M (11%). Of every dollar of revenue, 63¢ was left as gross profit, 8¢ was left as operating profit, 3¢ was left as net earnings.

Drawing the Sankey…

nCino revenue by segment, Q2 FY27nCino revenue by segment, Q2 FY27Subscription$143MProfessional services and other$17.5M
nCino revenue by quarternCino revenue by quarter$141MQ4 FY25$144MQ1 FY26$149MQ2 FY26$152MQ3 FY26$150MQ4 FY26$159MQ1 FY27$161MQ2 FY27
nCino: where each dollar of revenue goesnCino: where each dollar of revenue goesCost of revenue37¢Gross profit63¢Operating expenses54¢Operating profit8¢Income tax1¢Net earnings3¢Operating cash flow21¢Free cash flow21¢

Revenue by segment, Q2 FY27

SegmentRevenueShareQ/QY/Y
Subscription$143M89.1%+2%+10%
Professional services and other$17.5M10.9%-5%-3%

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$161M100.0%
Cost of revenue$60.2M37.4%
Gross profit$101M62.6%
Operating expenses$87.2M54.1%
Operating profit$13.6M8.5%
Income tax$1.5M0.9%
Net earnings$5.1M3.2%
Operating cash flow$34.2M21.2%
Free cash flow$34.0M21.1%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$161M+8%
Q1 FY27$159M+11%
Q4 FY26$150M+6%
Q3 FY26$152M+10%
Q2 FY26$149M+12%
Q1 FY26$144M+12%
Q4 FY25$141M+14%

From nCino's 10-Q filed Aug 25, 2026 (on EDGAR).

Questions

How does nCino make money?

nCino (NCNO) made $161M of revenue in the second quarter fiscal 2027 (Q2 FY27), +8% from a year earlier. Subscription brought in $143M (89%); Professional services and other brought in $17.5M (11%). Of every dollar of revenue, 63¢ was left as gross profit, 8¢ was left as operating profit, 3¢ was left as net earnings.

What is nCino's biggest business?

Subscription: $143M in the second quarter fiscal 2027, 89% of revenue, +10% from a year earlier.

What is nCino's profit margin?

Net earnings were $5.1M, 3.2% of revenue, in the second quarter fiscal 2027; the operating margin was 8.5%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.