During its earnings call Wednesday, Wilmington-based nCino highlighted its financial figures for the first quarter of fiscal year 2026. The quarter ended April 30, 2025.

The cloud banking software company's report indicated that total revenues were $144.1 million, a 13% increase from $128.1 million in the first quarter of fiscal year 2025. Compared to Q1 of fiscal 2025, subscription revenues sat 14% higher, at $125.6 million, in fiscal 2026 Q1. Subscription revenues in fiscal 2025 Q1 were $110.4 million.

“We delivered total revenues ahead of guidance, driven by strength in our subscription revenues line,” nCino’s president and CEO, Sean Desmond, said during the earnings call. “We are pleased with the demand we see building in the market, which was confirmed by the reception to the AI capabilities and omni-channel experiences we showed last week at our annual nSight customer conference."

The earnings call came a day after the firm announced plans to lay off 7% of its global workforce. Desmond said in the call that this restructuring is indicative of the company’s belief that it can “reduce bureaucracy and be more efficient, including by bringing new product functionality to market even faster.”

Desmond, who succeeded Pierre Naudé as CEO in February, said he was pleased that the company’s non-GAAP income (i.e., income that isn’t calculated using generally accepted accounting principles) “came in ahead of expectations.”

The company saw $24.8 million in non-GAAP income, compared to $24.4 million in Q1 of fiscal 2025. GAAP loss from operations for the quarter was $1.5 million. In the same quarter of fiscal 2025, GAAP loss from operations was $3.7 million. In addition, non-GAAP net income attributable to nCino in the first quarter was $18.4 million. And in last year's first quarter, non-GAAP net income attributable to nCino sat at $22.8 million.

When speaking of the global opportunities for nCino and the “macro environment,” Desmond said he was excited by the company’s progress in Europe and Japan. He also offered insights on the company’s success during the quarter.

“Our financial institution customers remain well positioned,” he said. “Many of them have healthy balance sheets and are projecting growth in both loan portfolios and earnings. We're also seeing encouraging signs of stability in the mortgage market, even while some interest rate volatility persists. Because we planned conservatively in this part of the business, that stability contributed to our outperformance in Q1."

Shifting to the company’s financial outlook, Greg Orenstein, nCino’s chief financial officer, stated that — for the the second quarter of fiscal 2026 — nCino expects total revenues of $142 million to $144 million. For subscription revenues, Orenstein said that the company’s projections fall between $124.5 million and $126.5 million.

“Non-GAAP operating income in the second quarter is expected to be $23.5 million to $24.5 million dollars, and non-GAAP net income attributable to nCino per share [is expected] to be 13 cents to 14 cents,” he said.

Before the earnings call on Wednesday, nCino shares traded at $26.78 at market close. As of 1:15 p.m. Thursday, they were trading at nearly $27 per share.