nCino Reports First Quarter Fiscal Year 2024 Financial Results

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nCino, Inc. (NCNO) guidance disappoints, shares tumble

June 1, 2023 10:49 AM EDT

nCino, Inc. (NASDAQ: NCNO) shares tumbled Thursday despite beating top and bottom-line consensus expectations in the first quarter.

The financial technology firm reported Q1 EPS of $0.07, $0.02 better than the analyst estimate of $0.05. Revenue for the quarter, which rose 21% YoY, came in at $113.67 million versus the consensus estimate of $112.63 million.

NCNO shares are currently down over 10% at $24.55. Earlier in the session, it hit a low of $21.59 per share.

The company's GAAP net loss in the first quarter of fiscal 2024 was $11.2 million.... More

nCino Reports First Quarter Fiscal Year 2024 Financial Results

nCino, Inc. (NCNO) guidance disappoints, shares tumble

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