nCino Announces Chief Financial Officer Transition
January 18 2023 - 4:05PM
nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and
digital transformation solutions for the global financial services
industry, today announced the appointment of Greg Orenstein as
nCino’s Chief Financial Officer. Orenstein will succeed David
Rudow, who will be leaving the Company effective January 31, 2023.
Orenstein has significant leadership experience
at nCino, having joined the Company in 2015, and most recently
serving as its Chief Corporate Development & Strategy Officer.
Prior to that, he served as nCino’s Chief Corporate Development
& Legal Officer and Secretary. Orenstein has played a critical
role in driving the Company’s growth, corporate strategy,
acquisition, investment and corporate finance activities, including
leading nCino’s initial public offering and secondary offering in
2020.
“Greg is a seasoned public company executive
with a proven track record of delivering strong results and
creating value. His deep strategic and operational understanding of
our business and his proven ability to build and lead global teams
and partner with business leaders makes him the ideal person for
this role,” said Pierre Naudé, Chairman and Chief Executive Officer
of nCino. “I look forward to continuing to work closely with Greg
as we execute on our profitable growth plan and drive long-term
stockholder value.”
“On behalf of nCino, I want to thank David for his service,
leadership and partnership over the past three years,” added Naudé.
“David has made significant contributions while helping nCino scale
as a public company, and we wish him all the best in his future
endeavors.”
Company Reaffirms Financial Guidance
For the fourth quarter ending January 31, 2023, the Company
reaffirms its financial guidance of:
- Total revenues between $104 million and $105 million.
- Subscription revenues between $90 million and $91 million.
- Non-GAAP operating loss between ($3.0) million and ($4.0)
million.
- Non-GAAP net loss attributable to nCino per share of ($0.04)
and ($0.05).
For the fiscal year 2023 ending January 31, 2023, the Company
reaffirms its financial guidance of:
- Total revenues between $403 million and $404 million.
- Subscription revenues between $342 million and $343
million.
- Non-GAAP operating loss between ($7.0) million and ($8.0)
million.
- Non-GAAP net loss attributable to nCino per share of ($0.15) to
($0.17).
About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in
cloud banking. The nCino Bank Operating System® empowers
financial institutions with scalable technology to help them
achieve revenue growth, greater efficiency, cost savings and
regulatory compliance. In a digital-first world, nCino’s single
cloud-based platform enhances the employee and client experience to
enable financial institutions to more effectively onboard clients,
make loans and manage the entire loan life cycle, and open deposit
and other accounts across lines of business and channels.
Transforming how financial institutions operate through innovation,
reputation and speed, nCino is partnered with more than 1,750
financial institutions of all types and sizes on a global basis.
For more information, visit www.ncino.com.
CONTACTS
INVESTOR CONTACT
JoAnn HorneMarket Street Partners+1
415.407.5399jhorne@marketstreetpartners.com
MEDIA CONTACT
Kathryn CooknCino+1 919.691.4206Kathryn.cook@ncino.com
This press release contains forward-looking
statements within the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally include actions, events, results, strategies
and expectations and are often identifiable by use of the words
“believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,”
“estimates,” “projects,” “may,” “will,” “could,” “might,” or
“continues” or similar expressions. Any forward-looking statements
contained in this press release are based upon nCino’s historical
performance and its current plans, estimates, and expectations, and
are not a representation that such plans, estimates, or
expectations will be achieved. These forward-looking statements
represent nCino’s expectations as of the date of this press
release. Subsequent events may cause these expectations to change
and, except as may be required by law, nCino does not undertake any
obligation to update or revise these forward-looking statements.
These forward-looking statements are subject to known and unknown
risks and uncertainties that may cause actual results to differ
materially including, among others, risks and uncertainties
relating to the market adoption of our solution and privacy and
data security matters. Additional risks and uncertainties that
could affect nCino’s business and financial results are included in
reports filed by nCino with the U.S. Securities and Exchange
Commission (available on our web site at www.ncino.com or the SEC’s
web site at www.sec.gov). Further information on potential risks
that could affect actual results will be included in other filings
nCino makes with the SEC from time to time.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4ff841d6-1ecc-44df-b31f-1409395e8cd3
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