Kativ
nCino (NASDAQ:NCNO) stock tumbled 11% in Tuesday after-hours trading after the provider of software for financial institutions issued Q3 guidance that’s a bit softer than hoped for.
The company expects Q3 non-GAAP EPS of $0.15-$0.16, vs. consensus of $0.16. Total revenue is expected to be $136.0M-$138.0M (midpoint $1.37), lower than the average analyst estimate of $138.7M.
It raised its non-GAAP EPS guidance for FY2025 ending Jan. 31, 2025 to $0.66-$0.69 (midpoint $0.675), vs. $0.67 consensus, from its prior range of $0.65-$0.68 (midpoint $0.665). Total revenue was reaffirmed at $538.5M-$544.5M (midpoint $542M), consensus estimate of $541.7M.
“While some macroeconomic challenges persist, particularly in the U.S. mortgage market and international markets, we have a positive outlook on the second half of the year,” said Chairman and CEO Pierre Naudé.
Q2 non-GAAP EPS of $0.14, beating the $0.13 consensus, increased from $0.09 in last year’s Q2.
Revenue in the quarter ended July 31, 2024, increased 13% Y/Y to $132.4M, topping the $131.1M consensus.
Its total remaining performance obligation (“RPO”) was $1.04B as of July 31, 2024, an increase of 12% from $928.6M at July 31, 2023. RPO expected to be recognized in the next 24 months was $698.3M, up 10% from $636.2M as of July 31, 2023.
Conference call at 4:30 PM ET.
Earlier, nCino non-GAAP EPS of $0.14 beats by $0.01, revenue of $132.4M beats by $1.32M
