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nCino’s AI Adoption Doubles — Can 230+ Customers Turn Into A Real Revenue Engine?

nCino, Inc. reported its second quarter fiscal year 2027 results with total revenues reaching $161 million, reflecting an 8% year-over-year increase. Subscription revenues grew 10% year-over-year to $143.5 million, with a 12% growth rate when excluding the U.S. mortgage segment, which faced a slight decline of 1%. Non-U.S. revenues accounted for $36.4 million, up 9% year-over-year, supported by a 13% growth in non-U.S. subscription revenues despite minor foreign exchange headwinds. Non-GAAP operating income rose 36% to $40.8 million, representing 25% of total revenue, driven by subscription revenue overperformance and disciplined expense management. Free cash flow increased substantially by 170% to $34 million. The company continues to experience momentum around its AI-powered banking platform, which integrates various banking processes such as lending, onboarding, account opening, and portfolio monitoring. nCino highlighted that 12 of its top 20 U.S. enterprise customers have transitioned to its new platform pricing model.