NCRino Inc is a leading provider of cloud-based banking software solutions that cater to financial institutions
The company specializes in streamlining and enhancing the banking process by offering a suite of applications designed to improve customer experience, increase operational efficiency, and facilitate compliance with regulatory requirements. Their platform is aimed at transforming the way banks operate, enabling them to deliver seamless digital services to their customers while optimizing workflows, automating processes, and providing valuable insights through data analytics. By leveraging cutting-edge technology, Ncino empowers banks to be more agile and responsive in a rapidly evolving financial landscape.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the vertical software industry, including Upstart (NASDAQUPST) and its peers.
Shares of bank software company nCino (NASDAQNCNO)
fell 21.4% in the pre-market session after the company reported underwhelming third-quarter financial results. Revenue narrowly outperformed Wall Street's estimates. On the other hand, its revenue guidance for the next quarter missed significantly, and its full-year revenue guidance was only in line with Wall Street's estimates. Overall, this was a softer quarter.
Bank software company nCino (NASDAQNCNO) reported Q3 CY2024 results beating Wall Street’s revenue expectations, with sales up 13.8% year on year to $138.8 million. On the other hand, next quarter’s revenue guidance of $140.5 million was less impressive, coming in 2.3% below analysts’ estimates. Its non-GAAP profit of $0.21 per share was 31.3% above analysts’ consensus estimates.
