nCino Is Betting Big on Agentic AI. A Slowing Growth Outlook Is Dragging Down the Stock.

nCino signage. (nCino via YouTube)

Key Points

• Shares of banking software maker nCino fall despite the company reporting revenue that beat analysts’ estimates.
• For the quarter ended in July, nCino reported total revenue of $161 million, up 8% from a year earlier.
• The company’s board authorized a $100 million stock repurchase plan.

Shares of banking software maker nCino , which bills itself as a platform for agentic artificial-intelligence banking, fell in premarket trading Wednesday even as it reported revenue that beat analysts’ estimates.

For the quarter ended in July, total revenue came in at $161 million, up 8% from a year earlier and above both its own prior guidance and estimates of $159.1 million among analysts polled by FactSet. Most of that comes from its subscription revenue, which came in at $143.5 million, also ahead of the $141.5 million estimated.

Earnings per share, which may not be comparable to FactSet estimates, came in at 5 cents.

The growth outlook for the rest of the year looks relatively modest, however. In the third quarter, nCino is expecting revenue between $161.25 to $163.25 million, with subscription revenue between $143.25 million and $145.25 million. For the fiscal year ending next January, revenue is expected to come in at $644 million to $647 million, with subscription revenue comprising $574.5 million to $576.5 million of that.

The software company also announced that its board had authorized a $100 million stock repurchase plan. The company has already bought back $300 million since April 2025.

Shares fell 5.% to $19.70. The stock has declined 19% in 2026.

Write to Anita Hamilton at anita.hamilton@barrons.com

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