Banking & Finance

NCino Announces Date For First Earnings Report Since IPO

By Jenny Callison, posted Aug 14, 2020

nCino’s early performance as a public company will be on display during the Wilmington company’s first quarterly earnings report since its July 14 IPO.

The cloud-banking software company announced Thursday that it will report financial results for its second quarter on Sept. 9 and will host a conference call and webcast at 4:30 p.m. to discuss those results. nCino’s second quarter ended July 31.

A webcast replay of the conference call will be available afterward in the Investor Relations section of nCino’s website.

Just ahead of its initial public offering on the Nasdaq exchange, nCino priced its shares at $31 each. The price rose quickly in trading July 14, ending the day at about $91 and raising the company’s valuation to roughly $7 billion. The share price has since ranged from about $74 to as high as $84.

nCino's Bank Operating System, built on the Salesforce platform, is designed to help financial institutions enroll new clients, make loans, manage the entire loan life cycle and open deposit and other types of accounts. The company is extending its global reach, with its customers numbering more than 1,100 financial institutions around the world served by offices in London, Sydney, Toronto and Tokyo as well as by its Wilmington headquarters. nCino clients’ assets range in size from $30 million to more than $2 trillion.

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