nCino, Inc.
NCNO · Services-Prepackaged Software · 109.6M shares · +10%/yr ↑ dilution · EDGAR filings ↗
Reference price $16.26 · est. market cap ~$1.8B — last insider sale, 2026-06-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Cloud banking-software (SaaS) — near breakeven with positive free cash flow.
Strengths
- Positive free cash flow — FCF $83M (36th), FCF margin 14%
- Good gross margin — 61%
Risks
- Near-breakeven net result — operating margin 1%
- Thin liquidity — current ratio 1.00 (18th)
- Bank-IT-spend cyclicality/competition — per 10-K
Notable findings
- Weak liquidityCurrent ratio 1.00 (<1)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
- Chronic dilutionShare count +10%/yr over 4y (dilution, book value/share -31%)
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, FMR LLC +1 more (as of 2026-03-31)
- Insider sellingInsider selling — 22 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$4M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
60.6%
Operating margin
0.6%
Net margin
0.9%
Return on equity
0.5%
Return on assets
0.3%
Revenue growth (QoQ)
6.5%
Current ratio
1.0×
Free cash flow
$83M
EBITDA
$46M
Tangible book value
-$158M
Cash & investments
$96M
Stock comp / revenue
12.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-18 | Naude Pierre | Grant | 13K | — |
| 2026-06-18 | Nyweide Justin C. | Grant | 13K | — |
| 2026-06-18 | Yasutake Andrew Hideki | Grant | 13K | — |
| 2026-06-18 | RUH WILLIAM J | Grant | 13K | — |
| 2026-06-18 | Dugatkin Diego German | Grant | 13K | — |
| 2026-06-18 | Spruill William R | Grant | 13K | — |
| 2026-06-18 | Kilday Pamela | Grant | 13K | — |
| 2026-06-18 | Doyle Jonathan J | Grant | 13K | — |
| 2026-06-03 | Desmond Sean | Sell | 8.1K | $16.26 |
| 2026-06-03 | Desmond Sean | Option exercise | 8.1K | $4.98 |
| 2026-05-05 | Sellers Jeanette | Sell | 3.7K | $18.04 |
| 2026-05-05 | Desmond Sean | Option exercise | 8.1K | $4.98 |
| 2026-05-05 | Desmond Sean | Sell | 17K | $18.04 |
| 2026-05-04 | Desmond Sean | Sell | 22K | $18.02 |
| 2026-05-04 | Sellers Jeanette | Sell | 1.5K | $18.02 |
| 2026-05-04 | Naude Pierre | Sell | 36K | $18.02 |
| 2026-05-04 | Orenstein Gregory | Sell | 15K | $18.02 |
| 2026-05-04 | Rieger April | Sell | 9.7K | $18.02 |
| 2026-05-01 | Sellers Jeanette | Grant | 15K | — |
| 2026-05-01 | Kettell Keith | Grant | 229K | — |
| 2026-05-01 | Rieger April | Grant | 177K | — |
| 2026-05-01 | Orenstein Gregory | Grant | 275K | — |
| 2026-05-01 | Desmond Sean | Grant | 704K | — |
| 2026-04-14 | Sellers Jeanette | Sell | 1.9K | $17.55 |
| 2026-04-14 | RUH WILLIAM J | Gift | 3.2K | — |
| 2026-04-06 | Desmond Sean | Option exercise | 8.1K | $4.98 |
| 2026-04-06 | Desmond Sean | Sell | 15K | $17.06 |
| 2026-04-02 | Sellers Jeanette | Sell | 735 | $16.75 |
| 2026-04-02 | Rieger April | Sell | 5.7K | $16.75 |
| 2026-04-02 | Orenstein Gregory | Sell | 8.8K | $16.75 |
| 2026-04-02 | Naude Pierre | Sell | 23K | $16.75 |
| 2026-04-02 | Desmond Sean | Sell | 5.7K | $16.75 |
| 2026-02-04 | Sellers Jeanette | Sell | 2.2K | $18.26 |
| 2026-02-03 | Orenstein Gregory | Sell | 11K | $18.68 |
| 2026-02-03 | Sellers Jeanette | Sell | 1.3K | $18.68 |
| 2026-02-03 | Desmond Sean | Sell | 16K | $18.68 |
| 2026-02-03 | Naude Pierre | Sell | 24K | $18.68 |
| 2026-02-03 | Rieger April | Sell | 8.1K | $18.68 |
| 2026-02-02 | Naude Pierre | Grant | 3.5K | — |
| 2026-01-05 | Desmond Sean | Option exercise | 7.3K | $4.98 |
| 2026-01-05 | Desmond Sean | Sell | 7.3K | $24.51 |
| 2025-12-17 | Sellers Jeanette | Sell | 1.5K | $24.49 |
| 2025-12-05 | Desmond Sean | Option exercise | 7.3K | $4.98 |
| 2025-12-05 | Desmond Sean | Sell | 7.3K | $24.11 |
| 2025-12-01 | Yasutake Andrew Hideki | Grant | 4.4K | — |
| 2025-12-01 | Yasutake Andrew Hideki | Grant | 8.1K | — |
| 2025-12-01 | Dugatkin Diego German | Grant | 8.1K | — |
| 2025-12-01 | Dugatkin Diego German | Grant | 4.4K | — |
| 2025-11-04 | Desmond Sean | Sell | 10K | $25.81 |
| 2025-11-04 | Naude Pierre | Sell | 4.9K | $25.81 |
| 2025-11-04 | Orenstein Gregory | Sell | 4.4K | $25.81 |
| 2025-11-04 | Rieger April | Sell | 4.7K | $25.81 |
| 2025-11-04 | Sellers Jeanette | Sell | 640 | $25.81 |
| 2025-09-15 | Rieger April | Sell | 6.0K | $30.40 |
| 2025-09-08 | HORING JEFF | Sell | 3.9M | $30.00 |
| 2025-09-05 | Sellers Jeanette | Sell | 529 | $30.74 |
| 2025-09-05 | HORING JEFF | Sell | 26K | $31.12 |
| 2025-08-29 | HORING JEFF | Sell | 282K | $32.23 |
| 2025-08-28 | HORING JEFF | Sell | 51K | $33.29 |
| 2025-08-28 | HORING JEFF | Sell | 210K | $32.26 |
| 2025-08-04 | Desmond Sean | Sell | 9.6K | $27.45 |
| 2025-08-04 | Sellers Jeanette | Sell | 211 | $27.45 |
| 2025-08-04 | Orenstein Gregory | Sell | 4.2K | $27.45 |
| 2025-08-04 | Naude Pierre | Sell | 4.7K | $27.45 |
| 2025-08-04 | Rieger April | Sell | 3.0K | $27.45 |
| 2025-08-01 | Sellers Jeanette | Grant | 23K | — |
| 2025-06-18 | Spruill William R | Grant | 7.4K | — |
| 2025-06-18 | Nyweide Justin C. | Grant | 7.4K | — |
| 2025-06-18 | Doyle Jonathan J | Grant | 7.4K | — |
| 2025-06-18 | Kilday Pamela | Grant | 7.4K | — |
| 2025-06-18 | RUH WILLIAM J | Grant | 7.4K | — |
| 2025-06-18 | HORING JEFF | Grant | 7.4K | — |
| 2025-06-02 | Lake Spencer | Sell | 3.1K | $25.94 |
| 2025-06-02 | Lake Spencer | Sell | 4.0K | $25.98 |
| 2025-06-02 | Lake Spencer | Option exercise | 21K | $4.98 |
| 2025-06-02 | Lake Spencer | Option exercise | 16K | $4.98 |
| 2025-05-05 | Sellers Jeanette | Sell | 2.2K | $22.79 |
| 2025-05-02 | Naude Pierre | Sell | 31K | $23.00 |
| 2025-05-02 | Orenstein Gregory | Sell | 10K | $23.00 |
| 2025-05-02 | Sellers Jeanette | Sell | 866 | $23.00 |
| 2025-05-02 | Desmond Sean | Sell | 12K | $23.00 |
| 2025-05-02 | Rieger April | Sell | 6.6K | $23.00 |
| 2025-05-01 | Sellers Jeanette | Grant | 12K | — |
| 2025-05-01 | Rieger April | Grant | 112K | — |
| 2025-05-01 | Orenstein Gregory | Grant | 151K | — |
| 2025-05-01 | Naude Pierre | Grant | 172K | — |
| 2025-05-01 | Desmond Sean | Grant | 353K | — |
| 2025-04-14 | RUH WILLIAM J | Gift | 2.2K | — |
| 2025-04-09 | Sellers Jeanette | Sell | 583 | $22.09 |
| 2025-04-08 | Naude Pierre | Sell | 11K | $22.31 |
| 2025-04-08 | Desmond Sean | Sell | 2.3K | $22.31 |
| 2025-04-08 | Orenstein Gregory | Sell | 2.4K | $22.31 |
| 2025-04-08 | Sellers Jeanette | Sell | 228 | $22.31 |
| 2025-04-04 | Sellers Jeanette | Sell | 2.5K | $21.51 |
| 2025-04-03 | Orenstein Gregory | Option exercise | 72K | $2.45 |
| 2025-04-02 | Rieger April | Sell | 7.9K | $20.86 |
| 2025-04-02 | Orenstein Gregory | Sell | 12K | $20.86 |
| 2025-04-02 | Sellers Jeanette | Sell | 1.0K | $20.86 |
| 2025-04-02 | Naude Pierre | Sell | 31K | $20.86 |
| 2025-04-02 | Desmond Sean | Sell | 7.9K | $20.86 |
| 2025-02-11 | Nyweide Justin C. | Grant | 2.2K | — |
| 2025-02-11 | Nyweide Justin C. | Grant | 6.2K | — |
| 2025-02-04 | Sellers Jeanette | Sell | 468 | $32.60 |
| 2025-02-04 | Rieger April | Sell | 4.3K | $32.60 |
| 2025-02-04 | Orenstein Gregory | Sell | 5.1K | $32.60 |
| 2025-02-04 | Naude Pierre | Sell | 17K | $32.60 |
| 2025-02-04 | Desmond Sean | Sell | 5.0K | $32.60 |
| 2025-01-06 | HORING JEFF | Sell | 55K | $35.00 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | 5.03Shareholder voteExhibits | filing ↗ |
| 2026-05-27 | ResultsExhibits | filing ↗ |
| 2026-03-31 | Material agreementResultsReg FDExhibits | filing ↗ |
| 2025-12-08 | OtherExhibits | filing ↗ |
| 2025-12-03 | ResultsExec/director changeReg FDExhibits | filing ↗ |
| 2025-08-26 | ResultsExhibits | filing ↗ |
| 2025-06-20 | 5.03Shareholder voteExhibits | filing ↗ |
| 2025-05-28 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-18 | 0001193125-26-277659 ↗ |
| 8-K | 2026-05-27 | 2026-05-27 | 0001902733-26-000064 ↗ |
| 10-Q | 2026-05-27 | 2026-04-30 | 0001902733-26-000066 ↗ |
| 10-K | 2026-03-31 | 2026-01-31 | 0001902733-26-000022 ↗ |
| 8-K | 2026-03-31 | 2026-03-30 | 0001902733-26-000019 ↗ |
| 8-K | 2025-12-08 | 2025-12-08 | 0001902733-25-000133 ↗ |
| 10-Q | 2025-12-03 | 2025-10-31 | 0001902733-25-000131 ↗ |
| 8-K | 2025-12-03 | 2025-12-01 | 0001902733-25-000130 ↗ |
| 8-K | 2025-08-26 | 2025-08-26 | 0001902733-25-000105 ↗ |
| 10-Q | 2025-08-26 | 2025-07-31 | 0001902733-25-000106 ↗ |
| 8-K | 2025-06-20 | 2025-06-18 | 0001193125-25-143670 ↗ |
| 10-Q | 2025-05-28 | 2025-04-30 | 0001902733-25-000076 ↗ |