nCino, Inc.NCNO

nCino, Inc. Segments Disclosure

10-KFiled Mar 31, 20263 min read
Segment Information
The Company’s CODM is the Company’s Chief Executive Officer, who reviews financial information on a consolidated basis. The Company brings together people and data to enable financial institutions to enhance strategic decision-making, risk management, and customer satisfaction through the selection of intelligent solutions provided by the nCino Platform. As such, the Company has one operating and reportable segment. The CODM uses consolidated net income (loss) in deciding how to make operating decisions, allocate resources, and assess performance, including whether to reinvest profits into the segment or into other parts of the entity, such as for acquisitions.
The following table presents selected financial information that is provided to our CODM:
Fiscal Year Ended January 31,
202420252026
Revenues$476,543 $540,657 $594,781 
Less:
Adjusted cost of revenues(1)
163,449 182,887 197,328 
Adjusted sales and marketing expense(2)
94,440 94,190 104,592 
Adjusted research and development expense(3)
101,017 111,110 106,478 
Adjusted general and administrative expense(4)
55,858 56,305 56,972 
Interest income(2,567)(1,761)(1,429)
Interest expense4,135 8,763 17,457 
Adjusted other (income) expense, net(5)
(54)117 (1,797)
Other segment items(6)
102,201 124,606 108,473 
Income tax provision (benefit)1,590 (2,511)(2,996)
Net income (loss)$(43,526)$(33,049)$9,703 
(1) Cost of revenue, net in the consolidated statements of operations, adjusted to exclude amortization of intangible assets, stock-based compensation expense, and restructuring and related charges, if any.
(2) Sales and marketing expense, net in the consolidated statements of operations, adjusted to exclude amortization of intangible assets, stock-based compensation expense, transaction-related expenses, and restructuring and related charges, if any.
(3) Research and development expense, net in the consolidated statements of operations, adjusted to exclude stock-based compensation expense, transaction-related expenses, and restructuring and related charges, if any.
(4) General and administrative expense, net in the consolidated statements of operations, adjusted to exclude stock-based compensation expense, transaction-related expenses, certain litigation expenses, and restructuring and related charges, if any.
(5) Beginning in the first quarter of fiscal 2026, other (income) expense, net in the consolidated statements of operations, adjusted to exclude intercompany foreign currency exchange gains or losses from the remeasurement of intercompany loans and transactions that are denominated in currencies other than the underlying functional currency of the applicable entity. Prior period amounts have been recast to conform to the current presentation.
(6) Other segment items are the adjustments described in the notes above.
Revenues by geographic region were as follows:
Fiscal Year Ended January 31,
202420252026
United States$387,201 $424,432 $463,261 
United Kingdom41,894 56,517 72,755 
Other47,448 59,708 58,765 
$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. For the fiscal years ended January 31, 2024, 2025, and 2026, only the United Kingdom, in addition to the United States, represented 10% or more of total revenues for the periods presented.
Long-lived assets, which consist of property and equipment, net and operating lease ROU assets, net by geographic region were as follows:
As of January 31,
20252026
United States$79,115 $70,013 
United Kingdom9,760 16,587 
Other2,104 1,694 
$90,979 $88,294 

Historical Timeline

Fiscal YearFiled
2026Mar 31, 2026Showing above
2025Apr 1, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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