Company Reaffirms Q4 and Full Fiscal Year 2023 Financial Guidance
WILMINGTON - Jan. 18, 2023 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced the appointment of Greg Orenstein as nCino’s Chief Financial Officer. Orenstein will succeed David Rudow, who will be leaving the Company effective January 31, 2023.
Orenstein has significant leadership experience at nCino, having joined the Company in 2015, and most recently serving as its Chief Corporate Development & Strategy Officer. Prior to that, he served as nCino’s Chief Corporate Development & Legal Officer and Secretary. Orenstein has played a critical role in driving the Company’s growth, corporate strategy, acquisition, investment and corporate finance activities, including leading nCino’s initial public offering and secondary offering in 2020.
“Greg is a seasoned public company executive with a proven track record of delivering strong results and creating value. His deep strategic and operational understanding of our business and his proven ability to build and lead global teams and partner with business leaders makes him the ideal person for this role,” said Pierre Naudé, Chairman and Chief Executive Officer of nCino. “I look forward to continuing to work closely with Greg as we execute on our profitable growth plan and drive long-term stockholder value.”
“On behalf of nCino, I want to thank David for his service, leadership and partnership over the past three years,” added Naudé. “David has made significant contributions while helping nCino scale as a public company, and we wish him all the best in his future endeavors.”
Company Reaffirms Financial Guidance
For the fourth quarter ending January 31, 2023, the Company reaffirms its financial guidance of:
- Total revenues between $104 million and $105 million.
- Subscription revenues between $90 million and $91 million.
- Non-GAAP operating loss between ($3.0) million and ($4.0) million.
- Non-GAAP net loss attributable to nCino per share of ($0.04) and ($0.05).
For the fiscal year 2023 ending January 31, 2023, the Company reaffirms its financial guidance of:
- Total revenues between $403 million and $404 million.
- Subscription revenues between $342 million and $343 million.
- Non-GAAP operating loss between ($7.0) million and ($8.0) million.
- Non-GAAP net loss attributable to nCino per share of ($0.15) to ($0.17).
About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. The nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. In a digital-first world, nCino’s single cloud-based platform enhances the employee and client experience to enable financial institutions to more effectively onboard clients, make loans and manage the entire loan life cycle, and open deposit and other accounts across lines of business and channels. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,750 financial institutions of all types and sizes on a global basis.
