Correction to Press Release Announcing nCino's Third Quarter Fiscal Year 2025 Financial Results

Financial Performance - Total revenues for Q3 FY2025 were $138.8M, a 14$121.9M in Q3 FY2024 [1][3] - Subscription revenues for Q3 FY2025 were $119.9M, up 14$104.8M [1][3] - Non-GAAP operating income for Q3 FY2025 was $28.0M, a 38$20.4M in Q3 FY2024 [3] - Non-GAAP net income attributable to nCino in Q3 FY2025 was $24.4M, up 51$16.2M in Q3 FY2024 [3] - Remaining Performance Obligation (RPO) as of October 31, 2024, was $1.095B, a 19$917.1M as of October 31, 2023 [3] Business Highlights - Completed acquisition of FullCircl on November 5, 2024, enhancing onboarding capabilities for financial institutions in EMEA [4] - Signed a multi-solution expansion agreement with a top-40 U.S. bank for Commercial and Small Business Lending, Commercial Pricing & Profitability, Automated Spreading, and Banking Advisor [4] - Extended relationship with a top-5 Australian bank for three years with the addition of Banking Advisor [4] - Tokushima Taisho Bank became nCino's largest customer in Japan, selecting nCino to transform its business lending operations [4] - Signed an expansion agreement with the largest bank in Norway for Commercial Lending, Banking Advisor, Credit Portfolio Management, and ESG reporting [4] Financial Outlook - Q4 FY2025 guidance: Total revenues between $139.5M and$141.5M, subscription revenues between $122.5M and$124.5M, Non-GAAP operating income between $23.25M and$24.25M, and Non-GAAP net income per diluted share of $0.18 to$0.19 [6] - FY2025 guidance: Total revenues between $539.0M and$541.0M, subscription revenues between $467.0M and$469.0M, Non-GAAP operating income between $95.0M and$96.0M, and Non-GAAP net income per diluted share of $0.72 to$0.73 [7] Industry and Market Position - nCino is a leading provider of intelligent, best-in-class banking solutions, serving over 1,800 customers worldwide, including community banks, credit unions, independent mortgage banks, and large financial entities [9] - The company focuses on digitizing and reengineering business processes to enhance efficiencies and improve banking experiences, integrating AI and actionable insights into its platform [9]