NCINO Reports Record-Breaking Q2 FY2024 Revenue of USD 117.2 Million, Up 17.7% YoY
September 1, 2023
🌥️Earnings Overview
NCINO ($NASDAQ:NCNO) reported on July 31, 2023 that total revenue for the second quarter of FY2024 amounted to USD 117.2 million, a 17.7% increase from the same period the previous year. Net income for this period was USD -15.9 million, significantly better than the -27.2 million recorded in the same quarter of the previous year.
Analysis
Analyzing NCINO‘s financials with GoodWhale can give investors a better understanding of the company’s financial and business aspects. GoodWhale has given NCINO a Risk Rating of medium, indicating that it is a medium risk investment. However, GoodWhale has detected two risk warnings in the balance sheet and cashflow statement, which investors can only access as registered users. This additional information can help investors to make more informed decisions about investing in NCINO. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ncino. More…
| Total Revenues | Net Income | Net Margin |
| 445.38 | -71.91 | -16.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ncino. More…
| Operations | Investing | Financing |
| 17.17 | -14.24 | 7.44 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ncino. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.3k | 270.48 | 9.13 |
Key Ratios Snapshot
Some of the financial key ratios for Ncino are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 37.9% | – | -14.0% |
| FCF Margin | ROE | ROA |
| 1.3% | -3.8% | -3.0% |
Peers
Its competitors include AnalytixInsight Inc, Bill.com Holdings Inc, and Money Forward Inc.
– AnalytixInsight Inc ($TSXV:ALY)
AnalytixInsight Inc is a Canadian technology company that delivers big data analytics solutions. Its market cap is 36.17M as of 2022 and its ROE is -36.13%. The company’s analytics solutions are used by global organizations to drive better decision-making, improve operational efficiency and optimize customer experience.
– Bill.com Holdings Inc ($NYSE:BILL)
Bill.com Holdings Inc is a financial technology company that provides cloud-based software to manage payments for businesses. The company has a market cap of $13.46 billion and a return on equity of -4.95%. Bill.com’s software simplifies and automates back-office financial operations for businesses. The company was founded in 2006 and is headquartered in Palo Alto, California.
– Money Forward Inc ($TSE:3994)
In 2022, Money Forward Inc’s market cap is 197.05B. The company’s ROE is -13.78%. Money Forward Inc is a company that provides a financial management platform. The platform allows users to track their spending, set budgets, and invest money. The company was founded in 2013 and is headquartered in Tokyo, Japan.
Summary
As of July 31 2023, NCINO reported impressive growth in earnings for the second quarter of FY2024, with total revenue rising 17.7% year-over-year to USD 117.2 million. Net income also jumped significantly, from -27.2 million to -15.9 million. This shows a great improvement in the company’s financial performance.
Investors may want to consider NCINO as a potential stock pick given its impressive performance. With strong growth and healthy profits, NCINO appears to be a sound investment.
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