nCino (NCNO) 10-Q 1 Jun 22 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Apr. 30, 2022	May 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 30, 2022
Document Transition Report	false
Entity File Number	001-41211
Entity Registrant Name	nCino, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-4154342
Entity Address, Address Line One	6770 Parker Farm Drive
Entity Address, City or Town	Wilmington
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28405
City Area Code	888
Local Phone Number	676-2466
Title of 12(b) Security	Common stock, par value $0.0005 per share
Trading Symbol	NCNO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		110,198,817
Entity Central Index Key	0001902733
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Current assets
Cash and cash equivalents (VIE: $4,183 and $3,388 at January 31, 2022 and April 30, 2022, respectively)	$ 78,684	$ 88,014
Accounts receivable, less allowance for doubtful accounts of $151 and $166 at January 31, 2022 and April 30, 2022, respectively	72,822	74,528
Costs capitalized to obtain revenue contracts, current portion, net	7,849	7,583
Prepaid expenses and other current assets	13,795	13,384
Total current assets	173,150	183,509
Property and equipment, net	68,371	60,677
Operating lease right-of-use assets, net	11,975	13,170
Costs capitalized to obtain revenue contracts, noncurrent, net	16,176	16,403
Goodwill	841,503	841,487
Intangible assets, net	173,094	180,122
Investment	4,031	4,031
Other long-term assets	8,501	1,615
Total assets	1,296,801	1,301,014
Current liabilities
Accounts payable	8,842	11,366
Accrued compensation and benefits	13,900	21,454
Accrued expenses and other current liabilities	11,959	14,744
Deferred revenue, current portion	143,973	122,643
Financing obligations, current portion	646	621
Operating lease liabilities, current portion	3,514	3,548
Total current liabilities	182,834	174,376
Operating lease liabilities, noncurrent	10,005	11,198
Deferred income taxes, noncurrent	1,891	1,675
Deferred revenue, noncurrent	43	44
Financing obligations, noncurrent	33,303	33,478
Construction liability, noncurrent	13,469	9,736
Total liabilities	241,545	230,507
Commitments and contingencies (Notes 12 and 14)
Redeemable non-controlling interest (Note 3)	3,419	2,882
Stockholders’ equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized, and none issued and outstanding as of January 31, 2022 and April 30, 2022	0	0
Common stock, $0.0005 par value; 500,000,000 shares authorized as of January 31, 2022 and April 30, 2022; 109,778,542 and 110,128,561 shares issued and outstanding as of January 31, 2022 and April 30, 2022, respectively	55	55
Additional paid-in capital	1,290,295	1,277,258
Accumulated other comprehensive income (loss)	762	(72)
Accumulated deficit	(239,275)	(209,616)
Total stockholders’ equity	1,051,837	1,067,625
Total liabilities, redeemable non-controlling interest, and stockholders’ equity	$ 1,296,801	$ 1,301,014

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Cash and cash equivalents	$ 78,684	$ 88,014
Allowance for doubtful acocunts	$ 166	$ 151
Preferred stock, par value (in USD per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in USD per share)	$ 0.0005	$ 0.0005
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares, issued	110,128,561	109,778,542
Common stock, shares outstanding	110,128,561	109,778,542
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 3,388	$ 4,183

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2022	Apr. 30, 2021
Revenues
Total revenues		$ 94,211	$ 62,355
Cost of revenues
Total cost of revenues		40,302	26,299
Gross profit		53,909	36,056
Operating expenses
Sales and marketing		29,339	18,425
Research and development		29,115	17,425
General and administrative		22,686	15,680
Total operating expenses		81,140	51,530
Loss from operations		(27,231)	(15,474)
Non-operating income (expense)
Interest income		2	57
Interest expense		(638)	(268)
Other income (expense), net		(1,573)	267
Loss before income taxes		(29,440)	(15,418)
Income tax provision		563	187
Net loss		(30,003)	(15,605)
Net loss attributable to redeemable non-controlling interest		(344)	(467)
Adjustment attributable to redeemable non-controlling interest		1,029	(130)
Net loss attributable to nCino, Inc.		$ (30,688)	$ (15,008)
Net loss per share attributable to nCino, Inc.:
Basic (in USD per share)		$ (0.28)	$ (0.16)
Diluted (in USD per share)		$ (0.28)	$ (0.16)
Weighted average number of common shares outstanding:
Basic (in shares)		109,998,637	94,402,265
Diluted (in shares)		109,998,637	94,402,265
Subscription
Revenues
Total revenues		$ 79,189	$ 51,033
Cost of revenues
Total cost of revenues	[1]	25,510	14,946
Professional Services and other
Revenues
Total revenues		15,022	11,322
Cost of revenues
Total cost of revenues		$ 14,792	$ 11,353
[1]	See Note 9 "Reseller Agreement" and Note 15 "Related-Party Transactions."

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Subscription
Related party costs	$ 0	$ 10,569

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (30,003)	$ (15,605)
Other comprehensive income (loss):
Foreign currency translation	680	(208)
Other comprehensive income (loss)	680	(208)
Comprehensive loss	(29,323)	(15,813)
Less comprehensive loss attributable to redeemable non-controlling interest:
Net loss attributable to redeemable non-controlling interest	(344)	(467)
Foreign currency translation attributable to redeemable non-controlling interest	(154)	(129)
Comprehensive loss attributable to redeemable non-controlling interest	(498)	(596)
Comprehensive loss attributable to nCino, Inc.	$ (28,825)	$ (15,217)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Other Comprehensive Income (Loss)	Accumulated Deficit
Balance, beginning of the period (in shares) at Jan. 31, 2021		93,643,759
Balance, beginning of the period at Jan. 31, 2021	$ 425,179	$ 47	$ 585,956	$ 240	$ (161,064)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		1,651,343
Exercise of stock options	7,885	$ 1	7,884
Stock issuance upon vesting of restricted stock units (in shares)		22,968
Stock-based compensation	7,064		7,064
Other comprehensive income	(79)			(79)
Net loss attributable to nCino, Inc., including adjustment to redeemable non-controlling interest	(15,008)		130		(15,138)
Balance, ending of the period (in shares) at Apr. 30, 2021		95,318,070
Balance, ending of the period at Apr. 30, 2021	425,041	$ 48	601,034	161	(176,202)
Balance, beginning of the period (in shares) at Jan. 31, 2022		109,778,542
Balance, beginning of the period at Jan. 31, 2022	$ 1,067,625	$ 55	1,277,258	(72)	(209,616)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	156,975	156,975
Exercise of stock options	$ 772		772
Stock issuance upon vesting of restricted stock units (in shares)		193,044
Stock-based compensation	13,294		13,294
Other comprehensive income	834			834
Net loss attributable to nCino, Inc., including adjustment to redeemable non-controlling interest	(30,688)		(1,029)		(29,659)
Balance, ending of the period (in shares) at Apr. 30, 2022		110,128,561
Balance, ending of the period at Apr. 30, 2022	$ 1,051,837	$ 55	$ 1,290,295	$ 762	$ (239,275)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Cash flows from operating activities
Net loss attributable to nCino, Inc.	$ (30,688)	$ (15,008)
Net loss and adjustment attributable to redeemable non-controlling interest	685	(597)
Net loss	(30,003)	(15,605)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	8,460	2,095
Non-cash operating lease costs	1,160	589
Amortization of costs capitalized to obtain revenue contracts	2,010	1,312
Amortization of debt issuance costs	40	0
Stock-based compensation	13,300	7,064
Deferred income taxes	210	62
Provision for (recovery of) bad debt	16	(12)
Net foreign currency (gains) losses	1,582	(566)
Change in operating assets and liabilities:
Accounts receivable	529	(192)
Costs capitalized to obtain revenue contracts	(2,161)	(1,493)
Prepaid expenses and other assets	(2,004)	1,076
Accounts payable	(2,317)	2,753
Accounts payable, related parties	0	478
Accrued expenses and other current liabilities	(10,827)	(8,782)
Deferred revenue	22,444	19,411
Operating lease liabilities	(1,191)	(632)
Net cash provided by operating activities	1,248	7,558
Cash flows from investing activities
Purchases of property and equipment	(4,694)	(522)
Net cash used in investing activities	(4,694)	(522)
Cash flows from financing activities
Proceeds from borrowings on revolving credit facility	20,000	0
Payments on revolving credit facility	(20,000)	0
Payments of debt issuance costs	(364)	0
Exercise of stock options	772	7,885
Principal payments on financing obligations	(150)	(79)
Net cash provided by financing activities	258	7,806
Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash	(1,142)	437
Net increase (decrease) in cash, cash equivalents, and restricted cash	(4,330)	15,279
Cash, cash equivalents, and restricted cash, beginning of period	88,399	371,425
Cash, cash equivalents, and restricted cash, end of period	84,069	386,704
Reconciliation of cash, cash equivalents, and restricted cash, end of period:
Cash and cash equivalents	78,684	386,515
Restricted cash included in other long-term assets	5,385	189
Total cash, cash equivalents, and restricted cash, end of period	84,069	386,704
Supplemental disclosure of cash flow information
Cash paid for taxes, net of refunds	1	80
Cash paid for interest	621	268
Supplemental disclosure of noncash investing and financing activities
Purchase of property and equipment, accrued but not paid	$ 5,808	$ 5,863

Organization and Description of

Organization and Description of Business	3 Months Ended
	Apr. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Organization: On November 16, 2021, nCino, Inc. (now nCino OpCo, Inc., "nCino OpCo") entered into an Agreement and Plan of Merger (the "Merger Agreement") with Penny HoldCo, Inc. (now nCino, Inc., "nCino, Inc."), a Delaware corporation incorporated on November 12, 2021 as a wholly-owned subsidiary of nCino OpCo, and certain other parties. On January 7, 2022, in connection with the closing of the transactions contemplated by the Merger Agreement, Penny HoldCo, Inc. changed its name to nCino, Inc. and nCino, Inc. changed its name to nCino OpCo, Inc. and became a wholly-owned subsidiary of nCino, Inc. Merger: On January 7, 2022, pursuant to the Merger Agreement, nCino, Inc. and nCino OpCo completed a series of mergers in which nCino, Inc. became the parent of nCino OpCo and SimpleNexus, LLC ("SimpleNexus"). Each share of nCino OpCo common stock, par value $0.0005 per share issued and outstanding was converted into one fully paid and nonassessable share of nCino, Inc. common stock, par value $0.0005. nCino, Inc. became the successor issuer and reporting company to nCino OpCo pursuant to Rule 12g-3(a) under the Securities Exchange Act of 1934, as amended. On January 10, 2022, shares of nCino OpCo were suspended from trading on the Nasdaq Global Select Market, and shares of nCino, Inc. commenced using nCino OpCo's trading history under the ticker symbol "NCNO". In these unaudited condensed consolidated financial statements, nCino OpCo and nCino, Inc., are collectively referred to as the "Company." See Note 7 "Business Combinations" for additional information regarding the SimpleNexus acquisition. Description of Business: The Company is a software-as-a-service ("SaaS") company that provides software applications to financial institutions to streamline employee and client interactions. The Company is headquartered in Wilmington, North Carolina and has offices in Lehi and Salt Lake City, Utah; Macon, Georgia; London, United Kingdom; Sydney and Melbourne, Australia; Toronto, Canada; and Tokyo, Japan. Fiscal Year End: The Company’s fiscal year ends on January 31.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") as set forth in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") and applicable rules and regulations of the Securities Exchange Commission ("SEC") regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2022 filed with the SEC on March 31, 2022. The unaudited condensed consolidated financial statements include accounts of the Company’s wholly-owned subsidiaries, as well as a variable interest entity in which the Company is the primary beneficiary. All intercompany accounts and transactions are eliminated. See the variable interest entity section below and Note 3 "Variable Interest Entity and Redeemable Non-Controlling Interest" for additional information regarding the Company’s variable interest entity. The Company is subject to the normal risks associated with technology companies that have not demonstrated sustainable income from operations, including product development, the risk of customer acceptance and market penetration of its products and services and, ultimately, the need to attain profitability to generate positive cash resources. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal 2023 or any future period. Reclassification: The Company reclassified certain prior year amounts in the unaudited condensed consolidated statement of cash flows within the cash flows from operating activities to conform to the current year presentation. These reclassifications had no impact on the previously reported total assets, liabilities, stockholder’s deficit, or net loss. Variable Interest Entity: The Company holds an interest in a Japanese company (“nCino K.K.”) that is considered a variable interest entity ("VIE"). nCino K.K. is considered a VIE as it has insufficient equity capital to finance its activities without additional financial support. The Company is the primary beneficiary of nCino K.K. as it has the power over the activities that most significantly impact the economic performance of nCino K.K. and has the obligation to absorb expected losses and the right to receive expected benefits that could be significant to nCino K.K., in accordance with accounting guidance. As a result, the Company consolidated nCino K.K. and all significant intercompany accounts have been eliminated. The Company will continue to assess whether it has a controlling financial interest and whether it is the primary beneficiary at each reporting period. Other than the Company’s equity investment, the Company has not provided financial or other support to nCino K.K. that it was not contractually obligated to provide. The assets of the VIE can only be used to settle the obligations of the VIE and the creditors of the VIE do not have recourse to the Company. The assets and liabilities of the VIE were not significant to the Company’s consolidated financial statements except for cash which is reflected on the unaudited condensed consolidated balance sheets. See Note 3 "Variable Interest Entity and Redeemable Non-Controlling Interest" for additional information regarding the Company’s variable interest. Redeemable Non-Controlling Interest: Redeemable non-controlling interest relates to minority investors of nCino K.K. An agreement with the minority investors of nCino K.K. contains redemption features whereby the interest held by the minority investors are redeemable either at the option of the (i) minority investors or (ii) the Company, both beginning on the eighth anniversary of the initial capital contribution. If the interest of the minority investors were to be redeemed under this agreement, the Company would be required to redeem the interest based on a prescribed formula derived from the relative revenues of nCino K.K. and the Company. The balance of the redeemable non-controlling interest is reported at the greater of the initial carrying amount adjusted for the redeemable non-controlling interest’s share of earnings or losses and other comprehensive income or loss, or its estimated redemption value. The resulting changes in the estimated redemption amount (increases or decreases) are recorded with corresponding adjustments against retained earnings or, in the absence of retained earnings, additional paid-in-capital. These interests are presented on the unaudited condensed consolidated balance sheets outside of equity under the caption “Redeemable non-controlling interest.” Use of Estimates: The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions made by the Company’s management are used for, but not limited to, revenue recognition including determining the nature and timing of satisfaction of performance obligations, variable consideration, stand-alone selling price, and other revenue items requiring significant judgement; the average period of benefit associated with costs capitalized to obtain revenue contracts; fair value of assets acquired and liabilities assumed for business combinations; the useful lives of intangible assets; the valuation allowance on deferred tax assets; redemption value of redeemable non-controlling interest; and stock-based compensation. The Company assesses these estimates on a regular basis using historical experience and other factors. Actual results could differ from these estimates. Concentration of Credit Risk and Significant Customers: The Company’s financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, restricted cash and accounts receivable. The Company’s cash and cash equivalents exceeded federally insured limits at January 31, 2022 and April 30, 2022. The Company maintains its cash, cash equivalents and restricted cash with high-credit-quality financial institutions. As of January 31, 2022, one individual customer represented more than 12% of accounts receivable and, as of April 30, 2022, one customer represented 16% of accounts receivable. For the three months ended April 30, 2021 and 2022, no individual customer represented more than 10% of the Company’s total revenues. Restricted Cash: Restricted cash primarily consists of a minimum cash balance the Company maintains with a lender under the Company's revolving credit facility. The remaining restricted cash consists of deposits held as collateral for the Company's bank guarantees issued in place of security deposits for certain property leases and credit cards. Restricted cash is included in other long-term assets at January 31, 2022 and April 30, 2022 on the unaudited condensed consolidated balance sheets. Accounts Receivable and Allowances: A receivable is recorded when an unconditional right to invoice and receive payment exists, such that only the passage of time is required before payment of consideration is due. Timing of revenue recognition may differ from the timing of invoicing to customers. Certain performance obligations may require payment before delivery of the service to the customer. The Company recognizes a contract asset in the form of accounts receivable when the Company has an unconditional right to payment, and the Company records a contract asset in the form of unbilled accounts receivable when revenues earned on a contract exceeds the billings. The Company’s standard billing terms are annual in advance, while SimpleNexus' standard billing terms are monthly in advance. An unbilled accounts receivable is a contract asset related to the delivery of the Company’s subscription services and professional services for which the related billings will occur in a future period. Unbilled accounts receivable consists of (i) revenues recognized for professional services performed but not yet billed and (ii) revenues recognized from non-cancelable, multi-year orders in which fees increase annually but for which the Company is not contractually able to invoice until a future period. Accounts receivable are reported at their gross outstanding balance reduced by an allowance for estimated receivable losses, which includes allowances for doubtful accounts and a reserve for expected credit losses. The Company records allowances for doubtful accounts based upon the credit worthiness of customers, historical experience, the age of the accounts receivable, current market and economic conditions, and supportable forecasts about the future. Relevant risk characteristics include customer size and historical loss patterns. A summary of activity in the allowance for doubtful accounts is as follows: Three Months Ended April 30, 2021 2022 Balance, beginning of period $ 88 $ 151 Charged to (recovery of) bad debt expense (12) 16 Other (24) — Translation adjustments — (1) Balance, end of period $ 52 $ 166 Investment : The Company's investment is a non-marketable equity investment without readily determinable fair value and for which the Company does not have control or significant influence. The investment is measured at cost with adjustments for observable changes in price or impairment as permitted by the measurement alternative. The Company assesses at each reporting period if the investment continues to qualify for the measurement alternative. Gains or losses resulting from changes in fair value are recognized currently in the Company's consolidated statement of operations. The Company assesses the investment whenever events or changes in circumstances indicate that the carrying value of the investment may not be recoverable. Debt Issuance Costs: Debt issuance costs are initially deferred and amortized to interest expense on a straight-line basis over the expected term of the debt. The Company uses the straight-line basis as it approximates the amounts calculated under the effective-interest method. Unamortized debt issuance costs related to the secured revolving credit facility are considered long-term and are included in other long-term assets in the unaudited condensed consolidated balance sheets.

Variable Interest Entity and Re

Variable Interest Entity and Redeemable Non-Controlling Interest	3 Months Ended
	Apr. 30, 2022
Noncontrolling Interest [Abstract]
Variable Interest Entity and Redeemable Non-Controlling Interest	Variable Interest Entity and Redeemable Non-Controlling InterestIn October 2019, the Company entered into an agreement with Japan Cloud Computing, L.P. and M30 LLC (collectively, the “Investors”) to engage in the investment, organization, management, and operation of nCino K.K. that is focused on the distribution of the Company’s products in Japan. In October 2019, the Company initially contributed $4.7 million in cash in exchange for 51% of the outstanding common stock of nCino K.K. As of April 30, 2022, the Company controls a majority of the outstanding common stock in nCino K.K. All of the common stock held by the Investors is callable by the Company or puttable by the Investors at the option of the Investors or at the option of the Company beginning on the eighth anniversary of the agreement with the Investors. Should the call or put option be exercised, the redemption value would be determined based on a prescribed formula derived from the discrete revenues of nCino K.K. and the Company and may be settled, at the Company’s discretion, with Company stock or cash or a combination of the foregoing. As a result of the put right available to the Investors, the redeemable non-controlling interests in nCino K.K. are classified outside of permanent equity in the Company’s unaudited condensed consolidated balance sheets. The estimated redemption value of the call/put option embedded in the redeemable non-controlling interest was $2.3 million at April 30, 2022. The following table summarizes the activity in the redeemable non-controlling interests for the period indicated below: Three Months Ended April 30, 2021 2022 Balance, beginning of period $ 3,791 $ 2,882 Net loss attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest) (467) (344) Foreign currency translation (129) (154) Adjustment to redeemable non-controlling interest (130) 1,029 Stock-based compensation expense 1 — 6 Balance, end of period $ 3,065 $ 3,419 1 nCino K.K. stock options granted in accordance with nCino K.K.'s equity incentive plan.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2. Significant other inputs that are directly or indirectly observable in the marketplace. Level 3. Significant unobservable inputs which are supported by little or no market activity. The carrying amounts of cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value as of January 31, 2022 and April 30, 2022 because of the relatively short duration of these instruments. The Company evaluated its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. The following table summarizes the Company’s financial assets measured at fair value as of January 31, 2022 and April 30, 2022 and indicates the fair value hierarchy of the valuation: Fair value measurements on a recurring basis as of January 31, 2022 Level 1 Level 2 Level 3 Assets: Money market accounts (included in cash and cash equivalents) $ 11,129 $ — $ — Time deposits (included in other long-term assets) 385 — — Total assets $ 11,514 $ — $ — Fair value measurements on a recurring basis as of April 30, 2022 Level 1 Level 2 Level 3 Assets: Money market accounts (included in cash and cash equivalents) $ 12,096 $ — $ — Time deposits (included in other long-term assets) 385 — — Total assets $ 12,481 $ — $ — All of the Company’s money market accounts are classified within Level 1 because the Company’s money market accounts are valued using quoted market prices in active exchange markets including identical assets. Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company's assets measured at fair value on a nonrecurring basis include the investment accounted for under the measurement alternative. There was no adjustment or impairment recognized for the three months ended April 30, 2021 and 2022, respectively.

Revenues

Revenues	3 Months Ended
	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenues by Geographic Area Revenues by geographic region were as follows: Three Months Ended April 30, 2021 2022 United States $ 53,326 $ 79,929 International 9,029 14,282 $ 62,355 $ 94,211 The Company disaggregates its revenues from contracts with customers by geographic location. Revenues by geography are determined based on the region of the Company’s contracting entity, which may be different than the region of the customer. No country outside the United States represented 10% or more of total revenues. Contract Amounts Accounts Receivable Accounts receivable, less allowance for doubtful accounts, is as follows as of January 31, 2022 and April 30, 2022: As of January 31, 2022 As of April 30, 2022 Trade accounts receivable $ 71,417 $ 70,132 Unbilled accounts receivable 2,161 2,052 Allowance for doubtful accounts (151) (166) Other accounts receivable 1 1,101 804 Total accounts receivable, net $ 74,528 $ 72,822 1 Includes $0.5 million and $0.3 million income tax receivable of as of January 31, 2022 and April 30, 2022, respectively. Deferred Revenue and Remaining Performance Obligations Significant movements in the deferred revenue balance during the period consisted of increases due to payments received or due in advance prior to the transfer of control of the underlying performance obligations to the customer, which were offset by decreases due to revenues recognized in the period. During the three months ended April 30, 2022, $53.0 million of revenues were recognized out of the deferred revenue balance as of January 31, 2022. Transaction price allocated to remaining performance obligations represents contracted revenues that have not yet been recognized, which includes both deferred revenue and amounts that will be invoiced and recognized as revenues in future periods. Transaction price allocated to the remaining performance obligation is influenced by several factors, including the timing of renewals, average contract terms, and foreign currency exchange rates. The Company applies practical expedients to exclude amounts related to performance obligations that are billed and recognized as they are delivered, optional purchases that do not represent material rights, and any estimated amounts of variable consideration that are subject to constraint. Remaining performance obligations were $905.6 million as of April 30, 2022. The Company expects to recognize approximately 63% of its remaining performance obligation as revenues in the next 24 months, approximately 30% more in the following 25 to 48 months, and the remainder thereafter.

Property and Equipment

Property and Equipment	3 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consisted of the following: As of January 31, 2022 As of April 30, 2022 Furniture and fixtures $ 7,503 $ 7,601 Computers and equipment 7,496 7,474 Buildings and land 33,977 33,977 Leasehold improvements 14,111 14,135 Construction in progress 1 13,081 21,877 76,168 85,064 Less accumulated depreciation (15,491) (16,693) $ 60,677 $ 68,371 1 The increase in construction in progress is primarily due to construction for an additional office building that is on the property of our existing headquarters for which the Company is considered the owner for accounting purposes. See Note 14 "Commitments and Contingencies" for additional details including future commitments. The Company recognized depreciation expense as follows: Three Months Ended April 30, 2021 2022 Cost of subscription revenues $ 86 $ 90 Cost of professional services and other revenues 299 273 Sales and marketing 309 326 Research and development 432 549 General and administrative 155 189 Total depreciation expense $ 1,281 $ 1,427

Business Combinations

Business Combinations	3 Months Ended
	Apr. 30, 2022
Business Combinations [Abstract]
Business Combinations	Business Combinations SimpleNexus On January 7, 2022 (the "Acquisition Date") through a series of mergers, the Company acquired all outstanding membership interests of SimpleNexus which provides mobile-first homeownership software that spans engagement, origination, closing and business intelligence, headquartered in Lehi, Utah. The Company acquired SimpleNexus for its complementary products and mobile-first offerings and believes this will provide greater value for new and existing customers. The business combination is considered a related party transaction as entities affiliated with Insight Partners (“Insight Partners”) were equityholders of SimpleNexus and certain other parties in connection with the series of mergers, and other affiliates of Insight Partners are currently significant stockholders of the Company. The Company has included the financial results of SimpleNexus in the consolidated statements of operations from the Acquisition Date. The transaction costs associated with the acquisition were approximately $10.0 million and were recorded in general and administrative expenses for the fiscal year ended January 31, 2022. The Company also recognized $0.2 million in stock issuance costs associated with the share consideration that were reported as a reduction of additional paid-in capital within stockholders' equity. The Acquisition-Date estimated fair value of the consideration transferred is as follows: Total Consideration Cash consideration to members $ 286,086 Voting common stock issued (12,762,146 shares) 1 647,509 Total consideration $ 933,595 1 The Company assumed a restricted stock award with an estimated fair value of $1.4 million. $0.3 million was allocated to the purchase consideration and $1.1 million was allocated to future services and will be expensed over the service period remaining in fiscal 2023 on a straight-line basis. Approximately $3.0 million of the cash paid is being held in escrow until the completion of the final post-closing adjustments. The number of shares for stock consideration was based on a 20-day volume weighted average price fair value of $72.53 established prior to and including November 12, 2021 to determine the number of shares to be issued on the Acquisition Date. On the Acquisition Date, the Company's closing stock price was $50.82 per share. The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the Acquisition Date: Fair Value Cash and cash equivalents $ 17,038 Accounts receivable 6,100 Property and equipment, net 1,010 Operating lease right-of-use assets 3,549 Other current and noncurrent assets 4,641 Intangible assets 162,000 Goodwill 785,156 Accounts payable, accrued expenses, and other liabilities, current and noncurrent (8,284) Deferred revenue, current and noncurrent (8,643) Operating lease liabilities, current and noncurrent (3,487) Deferred income taxes (25,485) Net assets acquired $ 933,595 The transaction was accounted for using the acquisition method and, as a result, tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values at the Acquisition Date. Any excess consideration over the fair value of the assets acquired and liabilities assumed was recognized as goodwill and is subject to revision as the purchase price allocation is completed. Due to the timing and the magnitude of the transaction, initial accounting for the acquisition is not complete, and further measurement period adjustments may occur in fiscal year 2023, but no later than one year from the Acquisition Date. The Company has estimated the preliminary fair value of net assets acquired based on information currently available and with the assistance of independent third-party valuations and will continue to adjust those estimates as additional information becomes available, valuations are finalized and the tax returns for the pre-acquisition period are completed. The primary areas of the acquisition accounting that remain preliminary relate to, but are not limited to, (i) finalizing the review and valuation of intangible assets (including key assumptions, inputs and estimates), (ii) finalizing the Company's review of certain assets acquired and liabilities assumed, (iii) finalizing the evaluation and valuation of certain legal matters and/or loss contingencies, including those that the Company may not yet be aware of but meet the requirement to qualify as a pre-acquisition contingency, and (iv) finalizing our estimate of the impact of acquisition accounting on deferred income taxes or liabilities. As the initial acquisition accounting is based on preliminary assessments, actual values may differ materially when final information becomes available. The Company believes the information gathered to date provides a reasonable basis for estimating the preliminary fair values of assets acquired and liabilities assumed. The Company will continue to evaluate these items until they are satisfactorily resolved and make necessary adjustments, within the allowable measurement period. The following table sets forth the components of the preliminary fair value of identifiable intangible assets and their estimated useful lives over which the acquired intangible assets will be amortized on a straight-line basis, as this approximates the pattern in which economic benefits of the assets are consumed as of the Acquisition Date: Fair Value Useful Life Developed technology $ 77,500 5 years Customer relationships 70,000 10 years Trade name 14,500 6 years Total intangible assets subject to amortization $ 162,000 Developed technology represents the preliminarily estimated fair value of SimpleNexus’ technology. Customer relationships represent the preliminarily estimated fair value of the underlying relationships with SimpleNexus' customers. Trade names represents the preliminarily estimated fair value of SimpleNexus’ company name. The Company continues to assess the rates used in the preliminary valuation methods such as, but not limited to, the discount rates for developed technology, customer relationships and trade name and customer attrition rate for customer relationships. Goodwill is primarily attributable to expanded market opportunities, synergies expected from the acquisition, and assembled workforce and approximately $189.2 million is expected to be deductible for tax purposes.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Apr. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The change in the carrying amounts of goodwill was as follows: Balance, January 31, 2022 $ 841,487 Translation adjustments 16 Balance, April 30, 2022 $ 841,503 Intangible assets Intangible assets, net are as follows: As of January 31, 2022 As of April 30, 2022 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Acquired developed technology $ 83,625 $ (4,804) $ 78,821 $ 83,629 $ (9,064) $ 74,565 Customer relationships 91,711 (4,748) 86,963 91,712 (6,916) 84,796 Trademarks and trade name 14,626 (288) 14,338 14,626 (893) 13,733 $ 189,962 $ (9,840) $ 180,122 $ 189,967 $ (16,873) $ 173,094 The Company recognized amortization expense as follows: Three Months Ended April 30, 2021 2022 Cost of subscription revenues $ 396 $ 4,262 Sales and marketing 418 2,771 Total amortization expense $ 814 $ 7,033 The expected future amortization expense for intangible assets as of April 30, 2022 is as follows: Fiscal Year Ending January 31, 2022 (remaining) $ 21,088 2024 27,419 2025 26,587 2026 26,587 2027 25,545 Thereafter 45,868 $ 173,094 The expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency exchange rates, impairment of intangible assets, future changes to expected asset lives of intangible assets, and other events.

Reseller Agreement

Reseller Agreement	3 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
Reseller Agreement	Reseller AgreementThe Company has a reseller agreement in place with a related party to utilize their platform and to develop the Company’s cloud-based banking software as an application within the related party’s hosted environment. This agreement expires in June 2027 and will automatically renew in annual increments thereafter unless either party gives notice of non-renewal before the end of the initial term or the respective renewal term. Cost of subscription revenues in each of the three months ended April 30, 2021 and 2022 substantially consists of fees paid for access to the related party’s platform, including their hosting infrastructure and data center operations. Based solely on information reported in a Schedule 13G/A filed with the SEC on February 11, 2022, the reseller is no longer considered a related party as of December 31, 2021 and the amounts disclosed related to them are accordingly presented while the reseller was considered a related party. The reseller was considered a related party for the three months ended April 30, 2021 and was no longer considered a related party for the three months ended April 30, 2022. The Company has recorded expenses of $10.6 million for the three months ended April 30, 2021. The Company continues to do business with the reseller. See also Note 15 "Related-Party Transactions."

Stockholders_ Equity

Stockholders’ Equity	3 Months Ended
	Apr. 30, 2022
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity At April 30, 2022, the Company committed a total of 31,049,997 shares of common stock for future issuance as follows: Issued and outstanding stock options 2,463,322 Nonvested issued and outstanding restricted stock units ("RSUs") 4,071,125 Possible issuance under stock plans 24,515,550 31,049,997

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options Stock option activity for the three months ended April 30, 2022 was as follows: Number of Weighted Outstanding, January 31, 2022 2,629,109 $ 6.72 Granted — — Expired or forfeited (8,812) 14.34 Exercised (156,975) 4.95 Outstanding, April 30, 2022 2,463,322 $ 6.80 Exercisable, April 30, 2022 2,197,707 $ 5.78 Fully vested or expected to vest, April 30, 2022 2,436,761 $ 6.71 As of April 30, 2022, there was $0.7 million of total unrecognized compensation expense related to unvested stock-based compensation arrangements under the 2014 Stock Plan ("2014 Plan") and 2019 Equity Incentive Plan (as amended and restated, "2019 Plan"). That cost is expected to be recognized over a weighted average period of 0.91 years. Restricted Stock Units RSU activity during the three months ended April 30, 2022 was as follows: Number of Weighted Average Nonvested, January 31, 2022 3,012,440 $ 45.62 Granted 1,355,616 46.87 Vested (193,044) 64.86 Forfeited (103,887) 45.03 Nonvested, April 30, 2022 4,071,125 $ 45.14 As of April 30, 2022, total unrecognized compensation expense related to non-vested RSUs was $154.7 million, adjusted for estimated forfeitures, based on the estimated fair value of the Company’s common stock at the time of grant. That cost is expected to be recognized over a weighted average period of 3.48 years. Employee Stock Purchase Plan The first offering period for the Employee Stock Purchase Plan ("ESPP") began on July 1, 2021 and ended on December 31, 2021. Thereafter, offering periods will begin on January 1 and July 1. The fair value of ESPP shares during the three months ended April 30, 2022 was estimated at the date of grant using the Black-Scholes option valuation model based on assumptions as follows for ESPP awards: (i) expected life of 0.5 years, (ii) expected volatility of 49.65%, (iii) expected dividends of 0.00%, (iv) risk-free interest rate of 0.22%. As of April 30, 2022, total unrecognized compensation expense related to the ESPP was $0.3 million. That cost is expected to be recognized over the remaining term of the offering period that began on January 1, 2022 and will end on June 30, 2022. Stock-Based Compensation Expense Total stock-based compensation expense included in our consolidated statements of operations were as follows: Three Months Ended April 30, 2021 2022 Cost of subscription revenues $ 285 $ 376 Cost of professional services and other revenues 1,332 1,871 Sales and marketing 1,753 3,371 Research and development 1,543 2,832 General and administrative 2,151 4,850 Total stock-based compensation expense $ 7,064 $ 13,300

Leases

Leases	3 Months Ended
	Apr. 30, 2022
Leases [Abstract]
Leases	Leases Operating Leases The Company leases its facilities and a portion of its equipment under various non-cancellable agreements, which expire at various times through July 2028, some of which include options to extend the leases for up to five years. The components of lease expense were as follows: Three Months Ended April 30, 2021 2022 Operating lease expense $ 682 $ 965 Short-term lease expense 194 281 Variable lease expense 81 82 Total $ 957 $ 1,328 Supplemental cash flow information related to operating leases were as follows: Three Months Ended April 30, 2021 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 727 $ 1,006 Right-of-use assets obtained in exchange for operating lease liabilities 707 10 The weighted-average remaining lease term and weighted-average discount rate for the Company's operating lease liabilities as of April 30, 2022 were 4.34 years and 4.4%, respectively. Future minimum lease payments as of April 30, 2022 were as follows: Fiscal Year Ending January 31, Operating Leases 2023 (remaining) $ 4,029 2024 3,454 2025 2,945 2026 2,219 2027 1,013 Thereafter 1,229 Total lease liabilities 14,889 Less: imputed interest (1,370) Total lease obligations 13,519 Less: current obligations (3,514) Long-term lease obligations $ 10,005 As of April 30, 2022, the Company had an additional operating lease that had not yet commenced, which is excluded from the table above. The operating lease will commence in fiscal year 2023 and have total undiscounted future payments of $0.7 million with a lease term of 2 years.

Revolving Credit Facility

Revolving Credit Facility	3 Months Ended
	Apr. 30, 2022
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility On February 11, 2022, the Company entered into a Credit Agreement (the “Credit Agreement”), by and among the Company, nCino OpCo (the “Borrower”), certain subsidiaries of the Company as guarantors, and Bank of America, N.A. as lender (the “Lender”), pursuant to which the Lender is providing to the Borrower a senior secured revolving credit facility of up to $50.0 million (the “Credit Facility”). The Credit Facility includes borrowing capacity available for letters of credit subject to a sublimit of $7.5 million. Any issuance of letters of credit will reduce the amount available under the Credit Facility. Borrowings under the Credit Facility bear interest, at the Borrower’s option, at: (i) a base rate equal to the greater of (a) the Lender’s “prime rate,” (b) the federal funds rate plus 0.50%, and (c) the Bloomberg Short Term Bank Yield Index ("BSBY") rate plus 1.00%, plus a margin of 0.00% (provided that the base rate shall not be less than 0.00%); or (ii) the BSBY rate (provided that the BSBY shall not be less than 0.00%), plus a margin of 1.00%. The Company is also required to pay an unused commitment fee to the Lender of 0.25% of the average daily unutilized commitments. The Company must also pay customary letter of credit fees. Borrowings under the Credit Facility are scheduled to mature on February 11, 2024, and the Company may repay amounts borrowed any time without penalty. Borrowings under the Credit Facility may be reborrowed. The Credit Agreement contains representations and warranties, affirmative, negative and financial covenants, and events of default that are customary for loans of this type. The financial covenant requires the Company and its subsidiaries on a consolidated basis to maintain Consolidated Liquidity of not less than $50.0 million. Consolidated Liquidity is measured as the sum of 100% of unrestricted and unencumbered cash of the Company and its domestic subsidiaries, 75% of unrestricted and unencumbered cash of the Company’s foreign subsidiaries and the lesser of Credit Facility availability and $25.0 million. The Company is also required to maintain at least $5.0 million of the Company's cash and/or marketable securities with the lender which is considered restricted cash and is included in other long-term assets at April 30, 2022 on the unaudited condensed consolidated balance sheets. The Credit Facility is guaranteed by the Company and each of its current and future material domestic subsidiaries (the “Guarantors”) and secured by substantially all of the personal property, subject to customary exceptions, of the Borrower and the Guarantors, in each case, now owned or later acquired, including a pledge of all of the Borrower’s capital stock, the capital stock of all of the Company’s domestic subsidiaries, and 65% of the capital stock of foreign subsidiaries that are directly owned by the Borrower or a Guarantor. As of April 30, 2022, unamortized debt issuance costs were $0.3 million and are included in other long-term assets. As of April 30, 2022, the Company had no amounts outstanding or letters of credit issued on the Credit Facility and was in compliance with all covenants. The available borrowing capacity under the Credit Facility was $50.0 million as of April 30, 2022.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments The Company’s purchase commitments consist of non-cancellable agreements to purchase goods and services, primarily licenses and hosting services, entered into in the ordinary course of business. Financing Obligations and Construction Liabilities The Company entered into a new lease agreement for the Company's headquarters in November 2020 with a new lessor. The lease goes through 2035 with options to renew. Due to a purchase option contained in the lease, the Company is deemed to have continuing involvement and is considered to be the owner of the Company's headquarters for accounting purposes. As a result, the Company did not meet the criteria to apply sale-leaseback accounting and therefore, recorded an asset and corresponding financing obligation for $16.3 million at inception of the lease. Upon expiration of the purchase option in the lease, the lease will be analyzed for applicable lease accounting. The fair value of the leased property and corresponding financing obligation are included in property and equipment, net and financing obligations on the unaudited condensed consolidated balance sheets, respectively. In January 2021, the Company entered into an agreement for a parking deck which is an addition to the Company's existing headquarters building. Due to the Company also being deemed to be the owner of the parking deck for accounting purposes, the costs associated with the construction of the parking deck were capitalized as construction in progress with a corresponding construction liability through construction. Upon completion of the parking deck in September 2021, for approximately $17.7 million, the costs of the construction in progress and the corresponding construction liability were reclassified to property and equipment, net and financing obligations on the unaudited condensed consolidated balance sheets, respectively. Upon expiration of the purchase option in the lease, the lease will be analyzed for applicable lease accounting. In April 2021, the Company entered into a new lease agreement for the construction of an additional office building that is on the property of the Company's existing headquarters. Due to the Company also being deemed to be the owner of the additional building for accounting purposes, the costs associated with the construction of the building will be capitalized as construction in progress with a corresponding construction liability through construction which is estimated to be approximately $24.0 million. Upon completion of the building, the construction liability will be recorded as a financing obligation. Upon expiration of the purchase option in the lease, the lease will be analyzed for applicable lease accounting. The costs of the construction in progress and corresponding construction liability are included in property and equipment, net and construction liability, noncurrent on the unaudited condensed consolidated balance sheets, respectively. Purchase commitments and future minimum lease payments required under financing obligations as of April 30, 2022 is as follows: Fiscal Year Ending January 31, Purchase commitments Financing obligations - leased facility 2023 (remaining) 4,073 2,059 2024 4,480 2,804 2025 3,040 2,867 2026 1,503 2,931 2027 1,104 2,996 Thereafter — 33,260 Total $ 14,200 $ 46,917 Residual financing obligations and assets 9,975 Less: amount representing interest (22,943) Financing obligations $ 33,949 Indemnification In the ordinary course of business, the Company generally includes standard indemnification provisions in its arrangements with third parties, including vendors, customers, and the Company’s directors and officers. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. To date, the Company has not incurred any material costs as a result of such obligations and has not accrued any material liabilities related to such obligations in the accompanying unaudited condensed consolidated financial statements. Legal Proceedings From time to time, the Company is involved in legal proceedings or is subject to claims arising in the ordinary course of business including the following: On February 23, 2021, the Company and certain of its officers and other employees were served with grand jury subpoenas wherein the Antitrust Division of the Department of Justice is seeking documents and information in connection with an investigation of the Company’s hiring and wage practices under U.S. federal antitrust laws. The Company has retained outside counsel and is fully cooperating with the authorities. Although there can be no assurance with respect to the outcome of this matter, the Company believes its hiring and wage practices do not violate antitrust laws. On March 12, 2021, a putative class action complaint was filed in the United States District Court for the Eastern District of North Carolina (the "District Court"). The sole class representative in the suit is one individual alleging a contract, combination or conspiracy between and among the Company, Live Oak Bancshares, Inc. ("Live Oak") and Apiture, Inc. ("Apiture") not to solicit or hire each other’s employees in violation of Section 1 of the Sherman Act and N.C. Gen Stat. §§ 75-1 and 75-2. The complaint seeks treble damages and additional remedies, including restitution, disgorgement, reasonable attorneys’ fees, the costs of the suit, and pre-judgment and post judgment interest. The complaint does not allege any specific damages. On April 28, 2022, the District Court approved settlements between the plaintiff and defendant Live Oak in the amount of approximately $3.9 million and unnamed party Apiture in the amount of approximately $0.8 million. Although there can be no assurance with respect to the outcome of this matter, the Company believes the alleged claims are not meritorious and intends to defend itself vigorously. The Company does not presently believe the above matters will have a material adverse effect on its day-to-day operations or the quality of the services, products or innovation it continues to provide to its customers. However, regardless of the outcome, legal proceedings can have an adverse impact on the Company because of the related expenses, diversion of management resources, and other factors. Given the uncertainty and preliminary stages of these matters, the Company is unable to reasonably estimate any possible loss or range of loss that may result. Other Commitments and Contingencies The Company may be subject to audits related to its non-income taxes by tax authorities in jurisdictions where it conducts business. These audits may result in assessments of additional taxes that are subsequently resolved with the authorities or potentially through the courts. The Company accrues for any assessments if deemed probable and estimable.

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Apr. 30, 2022
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party TransactionsThe Company’s largest vendor is also an equityholder in the Company. Total payments related to the agreement with this party are disclosed in Note 9 "Reseller Agreement." The Company also purchases services from this party to assist in managing its own sales cycle, customer relationship management, and other business functions. The Company has a non-cancellable agreement for the purchase of services. In December 2021, this agreement was renewed for one year and expires in December 2022. Based solely on information reported in a Schedule 13G/A filed with the SEC on February 11, 2022, this vendor is no longer considered a related party as of December 31, 2021, and the amounts disclosed related to them are accordingly presented while the vendor was considered a related party. The vendor was considered a related party for the three months ended April 30, 2021, and was no longer considered a related party for the three months ended April 30, 2022. Total payments for these services recorded to expenses were $0.4 million for the three months ended April 30, 2021. The Company continues to do business with the vendor.The Company entered into a Merger Agreement on January 7, 2022, as disclosed in Note 1 "Organization and Description of Business" and Note 7 "Business Combinations." Affiliates of Insight Partners were equityholders of SimpleNexus and certain other parties in connection with the Merger Agreement transaction, and other affiliates of Insight Partners are currently significant stockholders of the Company.

Basic and Diluted Loss per Shar

Basic and Diluted Loss per Share	3 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
Basic and Diluted Loss per Share	Basic and Diluted Loss per ShareBasic loss per share is computed by dividing net loss attributable to nCino, Inc. by the weighted-average number of common shares outstanding for the fiscal period. Diluted loss per share is computed by giving effect to all potential weighted average dilutive common stock, including stock options issued and outstanding, nonvested RSUs issued and outstanding, and shares issuable pursuant to the ESPP. The dilutive effect of outstanding awards is reflected in diluted earnings per share by application of the treasury stock method. Diluted loss per share for the three months ended April 30, 2021 and 2022 is the same as the basic loss per share as there was a net loss for those periods, and inclusion of potentially issuable shares was anti-dilutive. The components of basic and diluted loss per share for periods presented are as follows (in thousands, except share and per share data): Three Months Ended April 30, 2021 2022 Basic and diluted loss per share: Numerator Net loss attributable to nCino, Inc. $ (15,008) $ (30,688) Denominator Weighted-average common shares outstanding 94,402,265 109,998,637 Basic and diluted loss per share attributable to nCino, Inc. $ (0.16) $ (0.28) The weighted-average number of shares outstanding used in the computation of diluted loss per share does not include the effect of the following potential outstanding common stock because the effect would have been anti-dilutive: Three Months Ended April 30, 2021 2022 Stock options issued and outstanding 3,788,794 2,463,322 Nonvested RSUs issued and outstanding 2,526,767 4,071,125 Shares issuable pursuant to the ESPP — 70,817

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") as set forth in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") and applicable rules and regulations of the Securities Exchange Commission ("SEC") regarding interim financial reporting. Certain information and disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2022 filed with the SEC on March 31, 2022. The unaudited condensed consolidated financial statements include accounts of the Company’s wholly-owned subsidiaries, as well as a variable interest entity in which the Company is the primary beneficiary. All intercompany accounts and transactions are eliminated. See the variable interest entity section below and Note 3 "Variable Interest Entity and Redeemable Non-Controlling Interest" for additional information regarding the Company’s variable interest entity. The Company is subject to the normal risks associated with technology companies that have not demonstrated sustainable income from operations, including product development, the risk of customer acceptance and market penetration of its products and services and, ultimately, the need to attain profitability to generate positive cash resources. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal 2023 or any future period.
Reclassification	Reclassification: The Company reclassified certain prior year amounts in the unaudited condensed consolidated statement of cash flows within the cash flows from operating activities to conform to the current year presentation. These reclassifications had no impact on the previously reported total assets, liabilities, stockholder’s deficit, or net loss.
Variable Interest Entity	Variable Interest Entity: The Company holds an interest in a Japanese company (“nCino K.K.”) that is considered a variable interest entity ("VIE"). nCino K.K. is considered a VIE as it has insufficient equity capital to finance its activities without additional financial support. The Company is the primary beneficiary of nCino K.K. as it has the power over the activities that most significantly impact the economic performance of nCino K.K. and has the obligation to absorb expected losses and the right to receive expected benefits that could be significant to nCino K.K., in accordance with accounting guidance. As a result, the Company consolidated nCino K.K. and all significant intercompany accounts have been eliminated. The Company will continue to assess whether it has a controlling financial interest and whether it is the primary beneficiary at each reporting period. Other than the Company’s equity investment, the Company has not provided financial or other support to nCino K.K. that it was not contractually obligated to provide. The assets of the VIE can only be used to settle the obligations of the VIE and the creditors of the VIE do not have recourse to the Company. The assets and liabilities of the VIE were not significant to the Company’s consolidated financial statements except for cash which is reflected on the unaudited condensed consolidated balance sheets. See Note 3 "Variable Interest Entity and Redeemable Non-Controlling Interest" for additional information regarding the Company’s variable interest.
Redeemable Non-Controlling Interest	Redeemable Non-Controlling Interest: Redeemable non-controlling interest relates to minority investors of nCino K.K. An agreement with the minority investors of nCino K.K. contains redemption features whereby the interest held by the minority investors are redeemable either at the option of the (i) minority investors or (ii) the Company, both beginning on the eighth anniversary of the initial capital contribution. If the interest of the minority investors were to be redeemed under this agreement, the Company would be required to redeem the interest based on a prescribed formula derived from the relative revenues of nCino K.K. and the Company. The balance of the redeemable non-controlling interest is reported at the greater of the initial carrying amount adjusted for the redeemable non-controlling interest’s share of earnings or losses and other comprehensive income or loss, or its estimated redemption value. The resulting changes in the estimated redemption amount (increases or decreases) are recorded with corresponding adjustments against retained earnings or, in the absence of retained earnings, additional paid-in-capital. These interests are presented on the unaudited condensed consolidated balance sheets outside of equity under the caption “Redeemable non-controlling interest.”
Use of Estimates	Use of Estimates: The preparation of unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates and assumptions made by the Company’s management are used for, but not limited to, revenue recognition including determining the nature and timing of satisfaction of performance obligations, variable consideration, stand-alone selling price, and other revenue items requiring significant judgement; the average period of benefit associated with costs capitalized to obtain revenue contracts; fair value of assets acquired and liabilities assumed for business combinations; the useful lives of intangible assets; the valuation allowance on deferred tax assets; redemption value of redeemable non-controlling interest; and stock-based compensation. The Company assesses these estimates on a regular basis using historical experience and other factors. Actual results could differ from these estimates.
Concentration of Credit Risk and Significant Customers	Concentration of Credit Risk and Significant Customers: The Company’s financial instruments that are exposed to concentration of credit risk consist primarily of cash, cash equivalents, restricted cash and accounts receivable. The Company’s cash and cash equivalents exceeded federally insured limits at January 31, 2022 and April 30, 2022. The Company maintains its cash, cash equivalents and restricted cash with high-credit-quality financial institutions.
Restricted Cash	Restricted Cash: Restricted cash primarily consists of a minimum cash balance the Company maintains with a lender under the Company's revolving credit facility. The remaining restricted cash consists of deposits held as collateral for the Company's bank guarantees issued in place of security deposits for certain property leases and credit cards. Restricted cash is
Accounts Receivable and Allowances	Accounts Receivable and Allowances: A receivable is recorded when an unconditional right to invoice and receive payment exists, such that only the passage of time is required before payment of consideration is due. Timing of revenue recognition may differ from the timing of invoicing to customers. Certain performance obligations may require payment before delivery of the service to the customer. The Company recognizes a contract asset in the form of accounts receivable when the Company has an unconditional right to payment, and the Company records a contract asset in the form of unbilled accounts receivable when revenues earned on a contract exceeds the billings. The Company’s standard billing terms are annual in advance, while SimpleNexus' standard billing terms are monthly in advance. An unbilled accounts receivable is a contract asset related to the delivery of the Company’s subscription services and professional services for which the related billings will occur in a future period. Unbilled accounts receivable consists of (i) revenues recognized for professional services performed but not yet billed and (ii) revenues recognized from non-cancelable, multi-year orders in which fees increase annually but for which the Company is not contractually able to invoice until a future period. Accounts receivable are reported at their gross outstanding balance reduced by an allowance for estimated receivable losses, which includes allowances for doubtful accounts and a reserve for expected credit losses.
Investment	Investment : The Company's investment is a non-marketable equity investment without readily determinable fair value and for which the Company does not have control or significant influence. The investment is measured at cost with adjustments for observable changes in price or impairment as permitted by the measurement alternative. The Company assesses at each reporting period if the investment continues to qualify for the measurement alternative. Gains or losses resulting from changes in fair value are recognized currently in the Company's consolidated statement of operations. The Company assesses the investment whenever events or changes in circumstances indicate that the carrying value of the investment may not be recoverable.
Debt Issuance Costs	Debt Issuance Costs: Debt issuance costs are initially deferred and amortized to interest expense on a straight-line basis over the expected term of the debt. The Company uses the straight-line basis as it approximates the amounts calculated under the effective-interest method. Unamortized debt issuance costs related to the secured revolving credit facility are considered long-term and are included in other long-term assets in the unaudited condensed consolidated balance sheets.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 30, 2022
Accounting Policies [Abstract]
Activity in Allowance for Doubtful Accounts	A summary of activity in the allowance for doubtful accounts is as follows: Three Months Ended April 30, 2021 2022 Balance, beginning of period $ 88 $ 151 Charged to (recovery of) bad debt expense (12) 16 Other (24) — Translation adjustments — (1) Balance, end of period $ 52 $ 166

Variable Interest Entity and _2

Variable Interest Entity and Redeemable Non-Controlling Interest (Tables)	3 Months Ended
	Apr. 30, 2022
Noncontrolling Interest [Abstract]
Temporary Equity	The following table summarizes the activity in the redeemable non-controlling interests for the period indicated below: Three Months Ended April 30, 2021 2022 Balance, beginning of period $ 3,791 $ 2,882 Net loss attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest) (467) (344) Foreign currency translation (129) (154) Adjustment to redeemable non-controlling interest (130) 1,029 Stock-based compensation expense 1 — 6 Balance, end of period $ 3,065 $ 3,419 1 nCino K.K. stock options granted in accordance with nCino K.K.'s equity incentive plan.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table summarizes the Company’s financial assets measured at fair value as of January 31, 2022 and April 30, 2022 and indicates the fair value hierarchy of the valuation: Fair value measurements on a recurring basis as of January 31, 2022 Level 1 Level 2 Level 3 Assets: Money market accounts (included in cash and cash equivalents) $ 11,129 $ — $ — Time deposits (included in other long-term assets) 385 — — Total assets $ 11,514 $ — $ — Fair value measurements on a recurring basis as of April 30, 2022 Level 1 Level 2 Level 3 Assets: Money market accounts (included in cash and cash equivalents) $ 12,096 $ — $ — Time deposits (included in other long-term assets) 385 — — Total assets $ 12,481 $ — $ —

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue by Geographic Region	Revenues by geographic region were as follows: Three Months Ended April 30, 2021 2022 United States $ 53,326 $ 79,929 International 9,029 14,282 $ 62,355 $ 94,211
Schedule of Accounts, Notes, Loans and Financing Receivable	Accounts receivable, less allowance for doubtful accounts, is as follows as of January 31, 2022 and April 30, 2022: As of January 31, 2022 As of April 30, 2022 Trade accounts receivable $ 71,417 $ 70,132 Unbilled accounts receivable 2,161 2,052 Allowance for doubtful accounts (151) (166) Other accounts receivable 1 1,101 804 Total accounts receivable, net $ 74,528 $ 72,822 1 Includes $0.5 million and $0.3 million income tax receivable of as of January 31, 2022 and April 30, 2022, respectively.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Apr. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and equipment, net consisted of the following: As of January 31, 2022 As of April 30, 2022 Furniture and fixtures $ 7,503 $ 7,601 Computers and equipment 7,496 7,474 Buildings and land 33,977 33,977 Leasehold improvements 14,111 14,135 Construction in progress 1 13,081 21,877 76,168 85,064 Less accumulated depreciation (15,491) (16,693) $ 60,677 $ 68,371 1 The increase in construction in progress is primarily due to construction for an additional office building that is on the property of our existing headquarters for which the Company is considered the owner for accounting purposes. See Note 14 "Commitments and Contingencies" for additional details including future commitments. The Company recognized depreciation expense as follows: Three Months Ended April 30, 2021 2022 Cost of subscription revenues $ 86 $ 90 Cost of professional services and other revenues 299 273 Sales and marketing 309 326 Research and development 432 549 General and administrative 155 189 Total depreciation expense $ 1,281 $ 1,427

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Jan. 31, 2022
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The Acquisition-Date estimated fair value of the consideration transferred is as follows: Total Consideration Cash consideration to members $ 286,086 Voting common stock issued (12,762,146 shares) 1 647,509 Total consideration $ 933,595 1 The Company assumed a restricted stock award with an estimated fair value of $1.4 million. $0.3 million was allocated to the purchase consideration and $1.1 million was allocated to future services and will be expensed over the service period remaining in fiscal 2023 on a straight-line basis.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary fair values of assets acquired and liabilities assumed as of the Acquisition Date: Fair Value Cash and cash equivalents $ 17,038 Accounts receivable 6,100 Property and equipment, net 1,010 Operating lease right-of-use assets 3,549 Other current and noncurrent assets 4,641 Intangible assets 162,000 Goodwill 785,156 Accounts payable, accrued expenses, and other liabilities, current and noncurrent (8,284) Deferred revenue, current and noncurrent (8,643) Operating lease liabilities, current and noncurrent (3,487) Deferred income taxes (25,485) Net assets acquired $ 933,595
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The following table sets forth the components of the preliminary fair value of identifiable intangible assets and their estimated useful lives over which the acquired intangible assets will be amortized on a straight-line basis, as this approximates the pattern in which economic benefits of the assets are consumed as of the Acquisition Date: Fair Value Useful Life Developed technology $ 77,500 5 years Customer relationships 70,000 10 years Trade name 14,500 6 years Total intangible assets subject to amortization $ 162,000

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Apr. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amounts of goodwill was as follows: Balance, January 31, 2022 $ 841,487 Translation adjustments 16 Balance, April 30, 2022 $ 841,503
Schedule of Finite-Lived Intangible Assets	Intangible assets, net are as follows: As of January 31, 2022 As of April 30, 2022 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Acquired developed technology $ 83,625 $ (4,804) $ 78,821 $ 83,629 $ (9,064) $ 74,565 Customer relationships 91,711 (4,748) 86,963 91,712 (6,916) 84,796 Trademarks and trade name 14,626 (288) 14,338 14,626 (893) 13,733 $ 189,962 $ (9,840) $ 180,122 $ 189,967 $ (16,873) $ 173,094
Finite-lived Intangible Assets Amortization Expense	The Company recognized amortization expense as follows: Three Months Ended April 30, 2021 2022 Cost of subscription revenues $ 396 $ 4,262 Sales and marketing 418 2,771 Total amortization expense $ 814 $ 7,033
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The expected future amortization expense for intangible assets as of April 30, 2022 is as follows: Fiscal Year Ending January 31, 2022 (remaining) $ 21,088 2024 27,419 2025 26,587 2026 26,587 2027 25,545 Thereafter 45,868 $ 173,094

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	3 Months Ended
	Apr. 30, 2022
Equity [Abstract]
Schedule of Stock by Class	At April 30, 2022, the Company committed a total of 31,049,997 shares of common stock for future issuance as follows: Issued and outstanding stock options 2,463,322 Nonvested issued and outstanding restricted stock units ("RSUs") 4,071,125 Possible issuance under stock plans 24,515,550 31,049,997

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 30, 2022
Share-based Payment Arrangement [Abstract]
Stock Option Activity	Stock option activity for the three months ended April 30, 2022 was as follows: Number of Weighted Outstanding, January 31, 2022 2,629,109 $ 6.72 Granted — — Expired or forfeited (8,812) 14.34 Exercised (156,975) 4.95 Outstanding, April 30, 2022 2,463,322 $ 6.80 Exercisable, April 30, 2022 2,197,707 $ 5.78 Fully vested or expected to vest, April 30, 2022 2,436,761 $ 6.71
Schedule of Nonvested Restricted Stock Units Activity	RSU activity during the three months ended April 30, 2022 was as follows: Number of Weighted Average Nonvested, January 31, 2022 3,012,440 $ 45.62 Granted 1,355,616 46.87 Vested (193,044) 64.86 Forfeited (103,887) 45.03 Nonvested, April 30, 2022 4,071,125 $ 45.14
Share-Based Compensation Expense	Total stock-based compensation expense included in our consolidated statements of operations were as follows: Three Months Ended April 30, 2021 2022 Cost of subscription revenues $ 285 $ 376 Cost of professional services and other revenues 1,332 1,871 Sales and marketing 1,753 3,371 Research and development 1,543 2,832 General and administrative 2,151 4,850 Total stock-based compensation expense $ 7,064 $ 13,300

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 30, 2022
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Three Months Ended April 30, 2021 2022 Operating lease expense $ 682 $ 965 Short-term lease expense 194 281 Variable lease expense 81 82 Total $ 957 $ 1,328 Supplemental cash flow information related to operating leases were as follows: Three Months Ended April 30, 2021 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 727 $ 1,006 Right-of-use assets obtained in exchange for operating lease liabilities 707 10
Lessee, Operating Lease, Liability, Maturity	Future minimum lease payments as of April 30, 2022 were as follows: Fiscal Year Ending January 31, Operating Leases 2023 (remaining) $ 4,029 2024 3,454 2025 2,945 2026 2,219 2027 1,013 Thereafter 1,229 Total lease liabilities 14,889 Less: imputed interest (1,370) Total lease obligations 13,519 Less: current obligations (3,514) Long-term lease obligations $ 10,005

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Apr. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contractual Obligation, Fiscal Year Maturity	Purchase commitments and future minimum lease payments required under financing obligations as of April 30, 2022 is as follows: Fiscal Year Ending January 31, Purchase commitments Financing obligations - leased facility 2023 (remaining) 4,073 2,059 2024 4,480 2,804 2025 3,040 2,867 2026 1,503 2,931 2027 1,104 2,996 Thereafter — 33,260 Total $ 14,200 $ 46,917 Residual financing obligations and assets 9,975 Less: amount representing interest (22,943) Financing obligations $ 33,949

Basic and Diluted Loss per Sh_2

Basic and Diluted Loss per Share (Tables)	3 Months Ended
	Apr. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The components of basic and diluted loss per share for periods presented are as follows (in thousands, except share and per share data): Three Months Ended April 30, 2021 2022 Basic and diluted loss per share: Numerator Net loss attributable to nCino, Inc. $ (15,008) $ (30,688) Denominator Weighted-average common shares outstanding 94,402,265 109,998,637 Basic and diluted loss per share attributable to nCino, Inc. $ (0.16) $ (0.28)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The weighted-average number of shares outstanding used in the computation of diluted loss per share does not include the effect of the following potential outstanding common stock because the effect would have been anti-dilutive: Three Months Ended April 30, 2021 2022 Stock options issued and outstanding 3,788,794 2,463,322 Nonvested RSUs issued and outstanding 2,526,767 4,071,125 Shares issuable pursuant to the ESPP — 70,817

Organization and Description _2

Organization and Description of Business (Details)	Apr. 30, 2022$ / shares	Jan. 31, 2022$ / shares	Jan. 07, 2022$ / shares
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.0005	$ 0.0005
Number Of Nonassessable Shares			1
SimpleNexus
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in USD per share)			$ 0.0005

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	3 Months Ended	12 Months Ended
	Apr. 30, 2022	Jan. 31, 2022
Accounts Receivable | Customer Concentration Risk | One Customer
Concentration Risk [Line Items]
Concentration risk, percentage	16.00%	12.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Uncollectible Accounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 151	$ 88
Charged to (recovery of) bad debt expense	16	(12)
Other	0	(24)
Translation adjustments	(1)	0
Balance, end of period	$ 166	$ 52

Variable Interest Entity and _3

Variable Interest Entity and Redeemable Non-Controlling Interest - Narrative (Details) - nCino K.K - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2019	Apr. 30, 2022
Schedule of Equity Method Investments [Line Items]
Payments to noncontrolling interests	$ 4.7
Estimated redeemable noncontrolling interest redemption value		$ 2.3
nCino K.K
Schedule of Equity Method Investments [Line Items]
Ownership percentage by parent	0.51%

Variable Interest Entity and _4

Variable Interest Entity and Redeemable Non-Controlling Interest - Financial Assets Measured at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance, beginning of period	$ 2,882	$ 3,791
Net loss attributable to redeemable non-controlling interest (excluding adjustment to non-controlling interest)	(344)	(467)
Foreign currency translation	(154)	(129)
Adjustment to redeemable non-controlling interest	1,029	(130)
Total stock-based compensation expense	6	0
Balance, end of period	$ 3,419	$ 3,065

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurement, Recurring - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Level 1
Assets:
Time deposits (included in other long-term assets)	$ 385	$ 385
Total assets	12,481	11,514
Level 1 | Money Market Funds
Assets:
Money market accounts (included in cash and cash equivalents)	12,096	11,129
Level 2
Assets:
Time deposits (included in other long-term assets)	0	0
Total assets	0	0
Level 2 | Money Market Funds
Assets:
Money market accounts (included in cash and cash equivalents)	0	0
Level 3
Assets:
Time deposits (included in other long-term assets)	0	0
Total assets	0	0
Level 3 | Money Market Funds
Assets:
Money market accounts (included in cash and cash equivalents)	$ 0	$ 0

Revenues - Revenue By Geographi

Revenues - Revenue By Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 94,211	$ 62,355
United States
Disaggregation of Revenue [Line Items]
Total revenues	79,929	53,326
International
Disaggregation of Revenue [Line Items]
Total revenues	$ 14,282	$ 9,029

Revenues - Accounts Receivable

Revenues - Accounts Receivable Less Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Revenue from Contract with Customer [Abstract]
Trade accounts receivable	$ 70,132	$ 71,417
Unbilled accounts receivable	2,052	2,161
Allowance for doubtful accounts	(166)	(151)
Other accounts receivable	804	1,101
Total accounts receivable, net	72,822	74,528
Income taxes receivable	$ 300	$ 500

Revenues - Narrative (Details)

Revenues - Narrative (Details) $ in Millions	3 Months Ended
	Apr. 30, 2022USD ($)
Disaggregation of Revenue [Line Items]
Contract with customer, liability, revenue recognized	$ 53
Remaining performance obligation amount	$ 905.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-05-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation percentage	63.00%
Remaining performance obligation, expected timing of satisfaction	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation percentage	30.00%
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction	25 months
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, expected timing of satisfaction	48 months

Property and Equipment - Proper

Property and Equipment - Property and Equipment, net (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 85,064	$ 76,168
Less accumulated depreciation	(16,693)	(15,491)
Property and equipment, net	68,371	60,677
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,601	7,503
Computers and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,474	7,496
Buildings and land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	33,977	33,977
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,135	14,111
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 21,877	$ 13,081

Property and Equipment - Deprec

Property and Equipment - Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Property, Plant and Equipment [Line Items]
Total depreciation expense	$ 1,427	$ 1,281
Sales and marketing
Property, Plant and Equipment [Line Items]
Depreciation, nonproduction	326	309
Research and development
Property, Plant and Equipment [Line Items]
Depreciation, nonproduction	549	432
General and administrative
Property, Plant and Equipment [Line Items]
Depreciation, nonproduction	189	155
Subscription
Property, Plant and Equipment [Line Items]
Cost of subscription revenues	90	86
Professional Services and other
Property, Plant and Equipment [Line Items]
Cost of subscription revenues	$ 273	$ 299

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 07, 2022	Apr. 30, 2022	Jan. 06, 2022
Business Acquisition [Line Items]
Cash held in escrow		$ 3
SimpleNexus
Business Acquisition [Line Items]
Transaction costs	$ 10
Issuance costs	$ 0.2
Business acquisition, share price (in usd per share)	$ 50.82		$ 72.53
Business acquisition, goodwill, expected tax deductible amount	$ 189.2

Business Combinations - Conside

Business Combinations - Consideration Transferred (Details) - SimpleNexus $ in Thousands	Jan. 07, 2022USD ($)shares
Business Acquisition [Line Items]
Cash consideration to members	$ 286,086
Voting common stock issued (12,762,146 shares)	647,509
Total consideration	933,595
Preliminarily Allocated to Purchase Consideration
Business Acquisition [Line Items]
Business acquisition, equity interest issued or issuable, value assigned	300
Preliminarily Allocated to Future Services
Business Acquisition [Line Items]
Business acquisition, equity interest issued or issuable, value assigned	1,100
Restricted Stock Units (RSUs) | Preliminary Established Fair Value
Business Acquisition [Line Items]
Business acquisition, equity interest issued or issuable, value assigned	$ 1,400
Voting Common Stock
Business Acquisition [Line Items]
Equity interest issued or issuable, number of shares (in shares) | shares	12,762,146

Business Combinations - Summary

Business Combinations - Summary Of Net Assets Acquired (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022	Jan. 07, 2022
Business Acquisition [Line Items]
Goodwill	$ 841,503	$ 841,487
SimpleNexus
Business Acquisition [Line Items]
Cash and cash equivalents			$ 17,038
Accounts receivable			6,100
Property and equipment, net			1,010
Operating lease right-of-use assets			3,549
Other current and noncurrent assets			4,641
Intangible assets			162,000
Goodwill			785,156
Accounts payable, accrued expenses, and other liabilities, current and noncurrent			(8,284)
Deferred revenue, current and noncurrent			(8,643)
Operating lease liabilities, current and noncurrent			(3,487)
Deferred income taxes			(25,485)
Net assets acquired			$ 933,595

Business Combinations - Compone

Business Combinations - Components of Identifiable Intangible Assets (Details) - SimpleNexus $ in Thousands	Jan. 07, 2022USD ($)
Business Acquisition [Line Items]
Fair Value	$ 162,000
Developed technology
Business Acquisition [Line Items]
Fair Value	$ 77,500
Useful Life	5 years
Customer relationships
Business Acquisition [Line Items]
Fair Value	$ 70,000
Useful Life	10 years
Trade name
Business Acquisition [Line Items]
Fair Value	$ 14,500
Useful Life	6 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Apr. 30, 2022USD ($)
Goodwill [Roll Forward]
44592	$ 841,487
Translation adjustments	16
44681	$ 841,503

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 189,967	$ 189,962
Accumulated Amortization	(16,873)	(9,840)
Net Carrying Amount	173,094	180,122
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	83,629	83,625
Accumulated Amortization	(9,064)	(4,804)
Net Carrying Amount	74,565	78,821
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	91,712	91,711
Accumulated Amortization	(6,916)	(4,748)
Net Carrying Amount	84,796	86,963
Trademarks and trade name
Finite-Lived Intangible Assets [Line Items]
Gross Amount	14,626	14,626
Accumulated Amortization	(893)	(288)
Net Carrying Amount	$ 13,733	$ 14,338

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 7,033	$ 814
Cost of subscription revenues
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	4,262	396
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 2,771	$ 418

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Expected Future Amortization Expense (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (remaining)	$ 21,088
2024	27,419
2025	26,587
2026	26,587
2027	25,545
Thereafter	45,868
Net Carrying Amount	$ 173,094	$ 180,122

Reseller Agreement (Details)

Reseller Agreement (Details) $ in Millions	3 Months Ended
	Apr. 30, 2021USD ($)
Affiliated Entity | Reseller Agreement
Related Party Transaction [Line Items]
Related party costs	$ 10.6

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - shares	Apr. 30, 2022	Jan. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued and outstanding stock options (in shares)	2,463,322	2,629,109
Possible issuance under stock plans (in shares)	24,515,550
Common Stock reserved for future issuance (in shares)	31,049,997
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued and outstanding stock options (in shares)	2,463,322
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested issued and outstanding restricted stock units ("RSUs") (in shares)	4,071,125
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock reserved for future issuance (in shares)	31,049,997

Stockholders_ Equity - Narrativ

Stockholders’ Equity - Narrative (Details)	Apr. 30, 2022shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock reserved for future issuance (in shares)	31,049,997
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock reserved for future issuance (in shares)	31,049,997

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details)	3 Months Ended
	Apr. 30, 2022$ / sharesshares
Number of Shares
Outstanding, beginning of period (in shares) | shares	2,629,109
Granted (in shares) | shares	0
Expired or forfeited (in shares) | shares	(8,812)
Exercised (in shares) | shares	(156,975)
Outstanding, end of period (in shares) | shares	2,463,322
Exercisable, end of period (in shares) | shares	2,197,707
Fully vested or expected to vest, end of period (in shares) | shares	2,436,761
Weighted Average Exercise Price
Outstanding, beginning of period (in USD per share) | $ / shares	$ 6.72
Granted (in USD per share) | $ / shares	0
Expired or forfeited (in USD per share) | $ / shares	14.34
Exercised (in USD per share) | $ / shares	4.95
Outstanding, end of period (in USD per share) | $ / shares	6.80
Exercisable, end of period (in USD per share) | $ / shares	5.78
Fully vested or expected to vest, end of period (in USD per share) | $ / shares	$ 6.71

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Apr. 30, 2022USD ($)
Stock Option
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation costs	$ 0.7
Unrecognized compensation costs period for recognition	10 months 28 days
Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation costs	$ 154.7
Unrecognized compensation costs period for recognition	3 years 5 months 23 days
Employee Stock
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized compensation costs	$ 0.3
Expected life (in years)	6 months
Expected volatility	49.65%
Expected dividends	0.00%
Risk-free interest rate	0.22%

Stock-Based Compensation - RSUs

Stock-Based Compensation - RSUs Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Apr. 30, 2022$ / sharesshares
Number of Shares
Nonvested, beginning of period (in shares) | shares	3,012,440
Granted (in shares) | shares	1,355,616
Vested (in shares) | shares	(193,044)
Forfeited (in shares) | shares	(103,887)
Nonvested, end of period (in shares) | shares	4,071,125
Weighted Average Grant Date Fair Value
Nonvested, beginning of period (in USD per share) | $ / shares	$ 45.62
Granted (in USD per share) | $ / shares	46.87
Vested (in USD per share) | $ / shares	64.86
Forfeited (in USD per share) | $ / shares	45.03
Nonvested, end of period (in USD per share) | $ / shares	$ 45.14

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 13,300	$ 7,064
Cost of subscription revenues | Subscription
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	376	285
Cost of subscription revenues | Professional Services and other
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	1,871	1,332
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	3,371	1,753
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	2,832	1,543
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 4,850	$ 2,151

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	Apr. 30, 2022USD ($)
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	4 years 4 months 2 days
Operating lease, weighted average discount rate, percent	4.40%
Operating lease, lease not yet commenced, undiscounted amount	$ 0.7
Operating lease, lease not yet commenced, term of contract	2 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	5 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Leases [Abstract]
Operating lease expense	$ 965	$ 682
Short-term lease expense	281	194
Variable lease expense	82	81
Total	$ 1,328	$ 957

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 1,006	$ 727
Right-of-use assets obtained in exchange for operating lease liabilities	$ 10	$ 707

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Apr. 30, 2022	Jan. 31, 2022
Leases [Abstract]
2023 (remaining)	$ 4,029
2024	3,454
2025	2,945
2026	2,219
2027	1,013
Thereafter	1,229
Total lease liabilities	14,889
Less: imputed interest	(1,370)
Total lease obligations	13,519
Operating lease liabilities, current portion	(3,514)	$ (3,548)
Operating lease liabilities, noncurrent	$ 10,005	$ 11,198

Revolving Credit Facility (Deta

Revolving Credit Facility (Details) - USD ($)	Feb. 11, 2022	Apr. 30, 2022
Line of Credit Facility [Line Items]
Line of credit, available borrowing capacity		$ 50,000,000
Financial covenants, required minimum consolidated liquidity	$ 50,000,000
Financial covenants, required percent of unrestricted and unencumbered cash	75.00%
Debt Instrument, Covenants, Consolidated Liquidity, Minimum Threshold	$ 25,000,000
Financial covenants, required minimum cash	5,000,000
Debt issuance costs, net		300,000
Letters of credit outstanding, amount		$ 0
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50,000,000
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Revolving Credit Facility | Line of Credit | Fed Funds Effective Rate Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Revolving Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Revolving Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index | Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Revolving Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index | Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Revolving Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index Scenario 2 | Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Revolving Credit Facility | Line of Credit | Bloomberg Short Term Bank Yield Index Scenario 2 | Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Letter of Credit | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 7,500,000

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Apr. 28, 2022	Jan. 31, 2022	Apr. 30, 2021	Nov. 30, 2020
Loss Contingencies [Line Items]
Capital leased assets, gross				$ 16.3
Capital lease obligations				$ 16.3
Construction in progress, gross		$ 17.7	$ 24
Construction payable, estimated liability		$ 17.7	$ 24
Live Oak Bancshares, Inc
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 3.9
Apiture, Inc
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 0.8

Commitments and Contingencies_2

Commitments and Contingencies - Purchase Commitments and Future Minimum Lease Payments (Details) $ in Thousands	Apr. 30, 2022USD ($)
Purchase commitments
2023 (remaining)	$ 4,073
2024	4,480
2025	3,040
2026	1,503
2027	1,104
Thereafter	0
Total	14,200
Financing obligations - leased facility
2023 (remaining)	2,059
2024	2,804
2025	2,867
2026	2,931
2027	2,996
Thereafter	33,260
Total	46,917
Residual financing obligations and assets	9,975
Less: amount representing interest	(22,943)
Financing obligations	$ 33,949

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Related Party Transaction [Line Items]
Related party, non-cancellable agreement, renewal term	1 year
Agreement For Purchase Of Service | Affiliated Entity
Related Party Transaction [Line Items]
Expenses from transactions with related party		$ 0.4

Basic and Diluted Loss per Sh_3

Basic and Diluted Loss per Share - Components of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Numerator
Net loss attributable to nCino, Inc.	$ (30,688)	$ (15,008)
Denominator
Weighted-average common shares outstanding, basic (in shares)	109,998,637	94,402,265
Weighted-average common shares outstanding, diluted (in shares)	109,998,637	94,402,265
Basic loss per share attributable to nCino, Inc. (in USD per share)	$ (0.28)	$ (0.16)
Diluted loss per share attributable to nCino, Inc. (in USD per share)	$ (0.28)	$ (0.16)

Basic and Diluted Loss per Sh_4

Basic and Diluted Loss per Share - Weighted Average Number of Shares Excluded From Computation of EPS (Details) - shares	3 Months Ended
	Apr. 30, 2022	Apr. 30, 2021
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	2,463,322	3,788,794
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	4,071,125	2,526,767
Employee Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share amount (in shares)	70,817	0