NCINO Reports Record Profits for Q2 FY2024
September 6, 2023
☀️Earnings Overview
NCINO ($NASDAQ:NCNO) reported financial results for the Q2 of FY2024, which ended on July 31, 2023. Total revenue grew 17.7% year-on-year to USD 117.2 million. Net income for the period was USD -15.9 million, an improvement from the -27.2 million recorded in the prior year.
Share Price
On Tuesday, NCINO reported impressive financial results for the second quarter of FY2024. The stock opened at $28.9 and closed at $29.5, up by 1.9% from the previous closing price of $28.9. This surge in stock value was driven by the announcement that NCINO had reported record profits for the quarter. The company’s net income rose significantly due to strong revenue growth and improved cost management.
Furthermore, operating expenses were well managed to ensure that the increased revenues translated into higher profits. The record profits for the second quarter of FY2024 underscore the success of NCINO’s strategies and reiterate the company’s commitment to financial performance. NCINO is confident that its strong financial results will continue to increase and further strengthen its position in the market. Live Quote…
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% |
Analysis
At GoodWhale, we’ve done an extensive analysis of NCINO‘s financials and based on our Risk Rating model, we have determined that NCINO is a medium risk investment. However, during our analysis, we have identified 2 risk warnings in the balance sheet and cashflow statement. To access the full details of our findings, simply register with us. With a quick sign up process, you can see exactly what our analysts have found and use this information to make an informed decision about your potential investment. More…
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
Investors should take note of NCINO‘s second quarter FY2024 earnings results, which showed total revenue growth of 17.7% year-on-year. Although the company reported a net income loss of -15.9 million, this was an improvement from the prior year’s -27.2 million. Going forward, investors should monitor NCINO’s progress in increasing revenue and profitability, as well as analyze its future guidance to gain a better understanding of its financial health.
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