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nCino’s $159.4 Million Quarter: AI Momentum Meets Mortgage Pressure!

The report from nCino, Inc. for the first quarter of fiscal year 2027 highlights its ongoing transition toward AI-powered banking solutions, alongside steady revenue growth and operational efficiencies. The company reported total revenues of $159.4 million, marking an 11% increase year-over-year, with subscription revenues up 12%, supported in part by a favorable foreign currency impact and mortgage business growth. Notably, non-U.S. subscription revenues grew 21% year-over-year, reflecting expanding international adoption. The company achieved a non-GAAP operating margin of 28%, a 79% increase year-over-year, driven by subscription revenue overperformance and improved professional services gross margins—which rose by 1,100 basis points to 10%, aided by AI-driven efficiencies in service delivery. A central focus remains nCino’s AI strategy, embodied in its Agentic operating system and Banking Advisor platform, designed to embed AI into banking workflows with compliance and accountability as core principles.