nCino, Inc. (NCNO): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how financial institutions are transforming their operations in this digital age? nCino, a cloud banking and digital transformation solutions provider, might just be the answer! Founded in 2011, nCino has quickly become a leader in revolutionizing how banks and credit unions operate, serving over 1,850 financial institutions worldwide. Keep reading to discover how nCino is transforming financial services through innovation, reputation, and speed.

nCino, Inc. (NCNO) History

nCino's Founding Timeline

Year established

The company was established in 2011.

Original location

The company was founded in Wilmington, North Carolina.

Founding team members

The founding team included:

• Neil Underwood
• Prentiss Baldwin
• Jamie Dunn
• Chip Mahan

Initial capital/funding

In its initial stages, the company secured funding from a group of community bank CEOs and local investors, underscoring early confidence in its vision. The initial funding amount wasn't disclosed.

nCino's Evolution Milestones

nCino's Transformative Moments

• Focus on Cloud Technology: From its inception, the company embraced cloud technology to deliver banking solutions, setting it apart from traditional on-premises systems.
• Strategic Acquisitions: The acquisitions of Visible Equity and SimpleNexus expanded nCino's capabilities and market reach, adding analytics and mortgage solutions to its portfolio.
• Successful IPO: The IPO in 2020 provided significant capital for growth and validated nCino's business model and market position.

To gain more insights into the financial aspects of the company, you might find this resource helpful: Breaking Down nCino, Inc. (NCNO) Financial Health: Key Insights for Investors

nCino, Inc. (NCNO) Ownership Structure

Understanding nCino's ownership structure provides valuable insights into the company's governance and strategic direction. The company's shares are held by a mix of institutional investors, company insiders, and individual shareholders.

nCino's Current Status

nCino is a publicly traded company, listed on the NASDAQ under the ticker symbol NCNO. This means that its shares are available for purchase by the general public, and the company is subject to the regulations and reporting requirements of the U.S. Securities and Exchange Commission (SEC).

nCino's Ownership Breakdown

The following table summarizes the ownership breakdown of nCino as of April 2025, based on the most recent available data for the fiscal year 2024:

nCino's Leadership

nCino's leadership team is responsible for setting the company's strategic direction and overseeing its operations. Key members of the leadership team include:

• Pierre Naudé: Chairman and Chief Executive Officer
• David Rudisill: President and Chief Operating Officer
• John Joseph Durant, III: Chief Financial Officer

These individuals, along with other members of the executive team, bring a wealth of experience and expertise to nCino. You can also learn about the Mission Statement, Vision, & Core Values of nCino, Inc. (NCNO).

nCino, Inc. (NCNO) Mission and Values

nCino's mission is to transform financial services through innovation, reputation, and speed, while its core values emphasize customer success, innovation, and teamwork.

nCino's Core Purpose

Official mission statement

nCino's official mission statement is:

To transform financial services through innovation, reputation and speed.

• Innovation: nCino aims to continuously develop cutting-edge solutions that address the evolving needs of financial institutions.
• Reputation: nCino focuses on building and maintaining a strong reputation for reliability, security, and compliance in the financial services industry.
• Speed: nCino helps financial institutions streamline their processes and accelerate their digital transformation, enabling them to respond quickly to market changes and customer demands.

nCino's mission reflects its dedication to modernizing the banking sector by providing a platform that enhances efficiency, customer experience, and regulatory compliance.

Vision statement

While nCino doesn't have a single, explicitly stated vision statement, their actions and goals point towards a clear vision:

To be the leading cloud banking platform that empowers financial institutions to achieve greater efficiency, transparency, and customer engagement.

• Efficiency: Streamlining banking processes to reduce operational costs and improve productivity.
• Transparency: Enhancing visibility and control over data and operations to ensure regulatory compliance and build trust.
• Customer Engagement: Enabling personalized and seamless customer experiences across all channels.

This vision drives nCino to continually innovate and expand its platform capabilities, solidifying its position as a key enabler of digital transformation in the financial services industry. For more detailed insights into nCino's financial performance, see Breaking Down nCino, Inc. (NCNO) Financial Health: Key Insights for Investors.

Company slogan/tagline

nCino's tagline is:

Bank on nCino.

• This slogan is concise and memorable, encapsulating the company's core offering.
• It suggests reliability and confidence in nCino's platform.
• The tagline is used in marketing materials and communications to reinforce the brand's value proposition.

The slogan effectively communicates nCino's commitment to providing a dependable and innovative solution for financial institutions.

nCino, Inc. (NCNO) How It Works

nCino, Inc. operates as a cloud banking and digital transformation solutions provider for financial institutions. Its Bank Operating System streamlines banking processes, enhances customer experience, and improves operational efficiency.

nCino's Product/Service Portfolio

nCino's Operational Framework

nCino's operational framework is centered around providing a single, secure, cloud-based platform that integrates various banking functions. Key aspects of this framework include:

• Cloud-Based Platform: nCino's platform is built on the Salesforce AppExchange, providing scalability, security, and integration capabilities.
• End-to-End Solutions: The platform supports client onboarding, loan origination, account opening, and portfolio monitoring.
• Data-Driven Insights: nCino leverages data analytics and AI to offer real-time insights into business performance, enabling data-driven decision-making.
• Integration: nCino integrates with existing core banking systems and transactional systems, replacing manual processes and point solutions.
• Customer Experience: The platform enhances both the employee and client experience through automation and intelligence.

The company reported $542.4 million in total revenue for fiscal year 2024, a 17.4% year-over-year increase. nCino serves over 1,800 financial institutions globally, with a significant presence in North America, holding a 37% market share as of 2024. The company operates in 190 countries, delivering cloud-based banking solutions.

nCino's Strategic Advantages

nCino's strategic advantages enable it to maintain a competitive edge in the cloud banking sector:

• Comprehensive Solution: nCino offers a comprehensive suite of solutions covering a wide range of banking operations, including loan origination, account opening, and CRM.
• Scalability: The cloud-based platform is highly scalable, allowing financial institutions of all sizes to implement and customize solutions.
• Integration Capabilities: Seamless integration with other systems and applications streamlines operations and improves efficiency.
• Innovation: nCino focuses on continuous product innovation, incorporating technologies like AI and machine learning.
• Customer-Centric Approach: A strong focus on customer needs and a commitment to customer satisfaction.
• Expertise: Built by bankers for bankers, nCino understands the unique challenges financial institutions face.

nCino's Bank Operating System is designed to drive efficient business practices, leading to increased profitability, productivity gains, customer engagement, regulatory compliance, and operating transparency. The platform helps financial institutions achieve a competitive advantage through decreased cycle times, reduced operating costs, and increased customer satisfaction. For more insights, read about Mission Statement, Vision, & Core Values of nCino, Inc. (NCNO).

nCino, Inc. (NCNO) How It Makes Money

nCino primarily generates revenue by providing cloud-based software solutions to financial institutions, enhancing their operational efficiency and customer experience.

nCino's Revenue Breakdown

nCino classifies its revenue into two main categories: Subscription revenues and Professional Services revenues.

nCino's Business Economics

nCino's business economics are driven by its subscription-based model, which provides recurring revenue and scalability. The company invests heavily in research and development to enhance its platform and attract new customers. Key aspects of its business economics include:

• Subscription Model: Offers predictable, recurring revenue, enhancing financial stability.
• Scalability: Cloud-based platform allows efficient scaling to accommodate growth without significant infrastructure costs.
• Customer Retention: High retention rates due to the mission-critical nature of its software in financial institutions.
• Partnerships: Strategic alliances expand market reach and service capabilities.

To understand better the company's goals and principles, check this out: Mission Statement, Vision, & Core Values of nCino, Inc. (NCNO).

nCino's Financial Performance

nCino's financial performance can be assessed through several key metrics that reflect its growth and profitability:

• Revenue Growth Rate: nCino has demonstrated substantial revenue growth, driven by increased adoption of its platform. For the fiscal year 2024, nCino's total revenues were $487.2 million, an increase of 15% compared to $422.9 million for the fiscal year 2023. Subscription revenues were $392.3 million, an increase of 19% compared to $329.4 million for the fiscal year 2023, and professional services and other revenues were $94.9 million, an increase of 2% compared to $93.5 million for the fiscal year 2023.
• Gross Margin: A critical indicator of profitability, reflecting the efficiency of nCino's service delivery. nCino's gross profit for the fiscal year 2024 was $304.7 million, representing a gross margin of 62.5%, compared to $252.3 million and 59.7% for the fiscal year 2023. Subscription gross margin was 70.8% for the fiscal year 2024, compared to 68.3% for the fiscal year 2023. Professional services and other gross margin was 27.4% for the fiscal year 2024, compared to 25.8% for the fiscal year 2023.
• Operating Expenses: Investments in sales, marketing, and R&D impact profitability but are essential for long-term growth. Operating expenses for the fiscal year 2024 were $411.3 million, compared to $429.0 million for the fiscal year 2023.
• Net Loss: While nCino is focused on growth, monitoring net losses is important to ensure financial sustainability. Net loss for the fiscal year 2024 was $106.6 million, compared to $176.7 million for the fiscal year 2023.
• Cash Flow: Analyzing cash flow from operations and free cash flow provides insights into the company's ability to fund its growth. Net cash provided by operating activities for the fiscal year 2024 was $81.4 million, compared to $13.5 million for the fiscal year 2023. Free cash flow for the fiscal year 2024 was $67.4 million, compared to negative $2.4 million for the fiscal year 2023.

These financial metrics provide a comprehensive view of nCino's financial health and its ability to sustain growth in the competitive fintech market.

nCino, Inc. (NCNO) Market Position & Future Outlook

nCino is strategically positioned to capitalize on the ongoing digital transformation within the financial services industry, offering cloud-based solutions that enhance efficiency and customer experience; however, the company faces increasing competition and the need to continually innovate to maintain its market leadership. For a detailed look into nCino's financial standing, consider reading Breaking Down nCino, Inc. (NCNO) Financial Health: Key Insights for Investors.

Competitive Landscape

Opportunities & Challenges

Industry Position

nCino holds a strong position in the financial services industry, particularly in the cloud banking sector. The company is recognized for:

• Its comprehensive platform that covers various banking processes, from loan origination to account servicing.
• Its focus on innovation, continually updating its solutions to meet the changing demands of financial institutions.
• Its strong customer base, which includes a mix of large banks, community banks, and credit unions.