nCino, Inc.NCNO

nCino, Inc. Goodwill & Intangibles Disclosure

10-KFiled Mar 31, 20262 min read
Goodwill and Intangible Assets
Goodwill
The change in the carrying amounts of goodwill was as follows:
Balance, as of January 31, 2024$838,869 
Acquisitions186,375 
Translation adjustments(5,869)
Balance, as of January 31, 20251,019,375 
Acquisitions53,830 
Measurement period adjustments(10,018)
Translation adjustments14,760 
Balance, as of January 31, 2026$1,077,947 
Intangible assets
Intangible assets, net are as follows:
As of January 31, 2025As of January 31, 2026
Gross
Amount		Accumulated
Amortization		Net Carrying
Amount		Gross
Amount		Accumulated
Amortization		Net Carrying
Amount		Weighted Average Remaining Useful Life (Years)
Developed technology$97,029 $(49,819)$47,210 $102,443 $(70,334)$32,109 2.4
Customer relationships139,315 (33,315)106,000 151,399 (48,095)103,304 7.3
Trademarks and trade name1,461 (615)846 1,999 (1,991)8 0.1
Other1,369 (854)515 1,369 (1,132)237 2.2
Intangible assets, net$239,174 $(84,603)$154,571 $257,210 $(121,552)$135,658 6.2
The Company recognized amortization expense for intangible assets as follows:
Fiscal Year Ended January 31,
202420252026
Cost of subscription revenues$16,306 $17,784 $20,412 
Cost of professional services and other revenues330 330 165 
Sales and marketing20,590 11,979 15,882 
Total amortization expense$37,226 $30,093 $36,459 
The expected future amortization expense for intangible assets as of January 31, 2026 is as follows:
Fiscal Year Ending January 31,
2027$34,207 
202819,740 
202919,640 
203017,304 
203114,657 
Thereafter30,110 
$135,658 
The expected amortization expense is an estimate; actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, future changes to expected asset lives of intangible assets, and other events.

Historical Timeline

Fiscal YearFiled
2026Mar 31, 2026Showing above
2025Apr 1, 2025
2024Mar 26, 2024
2023Mar 28, 2023
2022Mar 31, 2022

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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