nCino, Inc.NCNO

nCino, Inc. Revenue Disclosure

10-KFiled Mar 31, 20262 min read
Revenues
Disaggregation of Revenue
Disaggregated revenues by source and geographic region were as follows:
Fiscal Year Ended January 31,
202420252026
United States
Subscriptions - non-mortgage$273,044 $303,546 $334,037 
Subscriptions - mortgage68,040 73,782 79,598 
Professional services and other46,117 47,104 49,626 
Total United States387,201 424,432 463,261 
International
Subscriptions68,395 91,840 109,499 
Professional services and other20,947 24,385 22,021 
Total International89,342 116,225 131,520 
Total Revenue$476,543 $540,657 $594,781 
Revenues by geography are determined based on the region of the Company’s contracting entity, which may be different from the region of the customer.
Contract Amounts
Accounts Receivable
Accounts receivable, less allowance for doubtful accounts, is as follows as of January 31, 2025 and 2026:
As of January 31,
20252026
Trade accounts receivable$122,394 $139,729 
Unbilled accounts receivable23,662 28,131 
Allowance for doubtful accounts(1,229)(2,825)
Other accounts receivable
1,960 1,505 
Total accounts receivable, net$146,787 $166,540 
Deferred Revenue and Remaining Performance Obligations
Significant movements in the deferred revenue balance during the period consisted of increases due to payments received or due in advance prior to the transfer of control of the underlying performance obligations to the customer and $5.0 million from acquisitions, which were offset by decreases due to revenues recognized in the period. During the fiscal year
ended January 31, 2026, $191.1 million of revenues were recognized out of the deferred revenue balance as of January 31, 2025.
Transaction price allocated to the remaining performance obligations represents contracted revenues that have not yet been recognized, which include both deferred revenue and amounts that will be invoiced and recognized as revenues in future periods. Transaction price allocated to the remaining performance obligations is influenced by several factors, including the timing of renewals, average contract terms, and foreign currency exchange rates. The Company applies practical expedients to exclude amounts related to performance obligations that are billed and recognized as they are delivered, optional purchases that do not represent material rights, and any estimated amounts of variable consideration that are subject to constraint.
Remaining performance obligations were $1.3 billion as of January 31, 2026. The Company expects to recognize approximately 66% of its remaining performance obligations as revenues in the next 24 months, approximately 28% in the following 25 to 48 months, and the remainder thereafter.
Costs Capitalized to Obtain Revenue Contracts
During the fiscal years ended January 31, 2024, 2025, and 2026, the Company amortized $9.9 million, $12.0 million, and $15.1 million of capitalized contract acquisition costs within sales and marketing expense, respectively. The Company did not incur any impairment losses during these periods.
Capitalized contract acquisition costs were $37.2 million and $47.9 million as of January 31, 2025 and 2026, of which $23.7 million and $30.7 million were long-term in the consolidated balance sheets, respectively. The remaining balance of the capitalized costs to obtain contracts was current.

Historical Timeline

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

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

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