nCino Stock Dives 11% in After-Hours Trading after Q2 Earnings Report

Key Financial Highlights

• Revenue: $132.4 million, beating analyst estimates of $138.23 million.
• Earnings per share (EPS): $0.16, surpassing consensus estimates of $0.12.

Guidance and Outlook

• Q3 Revenue guidance: $140-$142 million.
• FY2024 Revenue guidance: $565-$575 million.

Analyst Commentary

"nCino's strong Q2 results demonstrate continued momentum for the company," said Mark Murphy, an analyst at Wells Fargo. "The company's cloud-based platform continues to gain traction in the financial services industry."

Stock Performance

nCino's stock price (NASDAQ: NCNO) fell 11% in after-hours trading on Tuesday, August 29, 2023, after the earnings announcement. The stock closed at $34.40 in regular trading.

About nCino

nCino is a provider of cloud-based software for the financial services industry. The company's platform includes solutions for loan origination, customer relationship management (CRM), and performance analytics.

Important Notes

• Information in this article is based on the company's earnings call transcript.
• Stock prices can fluctuate rapidly, and past performance is not indicative of future results.
• Investors should always conduct their own research before making any investment decisions.