nCino (NCNO) Piper Sandler 5th Annual Growth Frontiers Conference summary

Business overview and recent performance

• Provides technology to help financial institutions lend more efficiently, reduce risk, and improve user experience across lending, onboarding, and portfolio monitoring, with over 20% of revenue from international markets.

• Recent quarter showed strong core business performance, robust sales activity, and healthy pipelines, though mortgage segment faces headwinds due to interest rates.

• Five growth initiatives include international expansion, mortgage cross-sell, credit union penetration, onboarding solutions, and AI adoption, all showing positive momentum.

Growth drivers and strategic initiatives

• International business is accretive to growth, with a major deal in Q3 and significant opportunity as half of the serviceable addressable market is outside the US.

• Mortgage business, despite market challenges, is seeing wins through cross-selling to depository customers.

• Credit union segment, launched last year, is gaining traction and expanding.

• Onboarding product is a strong cross-sell opportunity, with recent wins announced.

• AI capabilities are a major focus, with over 230 paying customers and AI driving customer engagement and product innovation.

Platform pricing transition

• Transitioned from seat-based to asset-based pricing to better align with customer value and business growth.

• Six quarters into the transition, 48% of customers have moved to the new model, exceeding expectations.

• Customers receive a one-time price step-up and initial AI capability bundles, which has accelerated renewals among top customers.