nCino Reports 8% Revenue Growth, Expands AI Banking Commitments…

Event summary

nCino reported $161.0M in total revenues for Q2 FY2027, up 8% YoY, with subscription revenues growing 10% YoY to $143.5M.
GAAP operating margin improved by 1,500 basis points YoY to 8%, while non-GAAP operating margin increased by 500 basis points to 25%.
The company announced a new $100M stock repurchase authorization, following $300M in repurchases since April 2025.
nCino renewed and expanded contracts with four U.S. enterprise customers representing over $900B in assets.
Free cash flow surged 170% YoY to $34.0M in Q2 FY2027.

The big picture

nCino's Q2 FY2027 results highlight its strategic focus on AI-driven banking solutions, with significant customer expansions and improved financial metrics. The company's ability to consolidate critical operations for large financial institutions positions it favorably in a competitive market. The new stock repurchase authorization underscores confidence in its operational execution and free cash flow trajectory.

What we're watching

AI Adoption: How nCino's AI capabilities will drive further customer expansion and revenue growth.
Operational Efficiency: Whether the company can sustain its improved operating margins amid increasing competition.
Capital Allocation: The pace at which nCino will execute its $100M stock repurchase program and its impact on shareholder value.