nCino's Global Surge: Why This Cloud Banking Leader is a Buy Now

The market is buzzing with chatter about AI, but let's talk about a stock that's turning strategic moves into cold, hard cash: nCino (NCNO). The cloud banking leader just delivered a Q1 2026 earnings report that screams “buy now” for investors ready to capitalize on its global expansion and razor-sharp focus on profitability. Here's why this is the moment to jump in.

The Numbers Don't Lie: Profitability and Momentum

nCino's Q1 2026 results are a masterclass in execution. Total revenues hit $144.1 million, up 13% year-over-year, while subscription revenue—the lifeblood of recurring cash—surged 15% to $121.7 million. Even better? Non-GAAP operating income jumped to $24.4 million, a 26% year-over-year leap, proving the company can grow revenue and margins simultaneously.

But here's the kicker: international markets are on fire. Subscription revenue from outside the U.S. now accounts for 21% of total, a massive jump from just 16% in Q1 2025. That's $25.9 million in international sales, up 31.5% year-over-year—a figure that screams scaling and diversification. This isn't just growth; it's a global land grab.

The International Playbook: Why 2026 is the Year of Dominance

nCino isn't just selling software—it's building a banking ecosystem. Consider these moves:
- First Czech Republic win: Signing Československá obchodní banka (CSOB), a top-10 European bank, to its Commercial & SME Lending platform. This isn't just a deal—it's a beachhead into Eastern Europe.
- AI-driven differentiation: Launching tools like Continuous Credit Monitoring and Mortgage Advisor—solutions that automate compliance and risk management, making nCino indispensable to banks worldwide.
- Customer retention on steroids: The Annual Contract Value (ACV) retention rate hit 106%, meaning customers aren't just staying—they're spending more.

The company now serves 2,789 global customers, including 105 clients paying over $1 million annually—a 22% increase from last year. This isn't a flash in the pan; it's a flywheel of recurring revenue.

Profitability Meets Pragmatism: No Fooling Around with Cash

While some tech stocks burn cash on growth, nCino is profitable and disciplined. Even after investing $10 million in sales/marketing and expanding its R&D footprint, it's maintaining a cash balance of $133.6 million. The $100 million stock buyback program announced in Q1 isn't just shareholder-friendly—it's a CEO's confidence bet.

Yes, non-GAAP net income dipped slightly due to foreign currency headwinds (a $10.5 million hit in FY2025), but this is a one-time issue, not a death knell. With 80% of revenue now in USD, the company is hedging its bets against volatility.

The Catalysts: 2026 Guidance is a Growth Machine

nCino's guidance for FY2026 is bold but believable:
- Revenue growth: $574.5–578.5 million, a 6%–7% increase over 2025.
- ACV growth: 9–10%, with organic growth holding steady at 8–9%—proof that the core business isn't slowing.
- Non-GAAP EPS: $0.66–0.69, a 2–5% rise from _2025.

And here's the kicker: margins are expanding. Gross margins hit 60% in Q4 2024 and remain stable, while operating margins grew to 16%—a far cry from its loss-making past.

The Risks? Manageable, Not Showstoppers

• Currency fluctuations: A known issue, but the company is actively mitigating it.
• Competition: nCino's AI-first platform and sticky customer base (106% retention!) create a moat.
• Economic slowdowns: Banks will always need better software to cut costs—nCino's solutions are recession-proof.

Why Buy Now? The Technicals Say “Jump”

nCino's stock is trading at $26.60, nearly 40% below its 52-week high of $43.20. That's a screaming valuation when you consider:
- 2026 EPS guidance implies a P/E of just 39–40x, reasonable for a high-growth SaaS leader.
- International revenue is still a fraction of its potential—imagine when Europe or Asia hit 30% of sales.
- The buyback: $100 million to reduce shares while the stock is cheap? That's a CEO's love letter to investors.

Backtest the performance of nCino (NCNO) when 'buy condition' is triggered by positive quarterly earnings announcements and held for 20 trading days, from 2021 to 2025.

Final Call: This is the Moment

nCino isn't just another cloud stock—it's a global banking infrastructure play with a proven track record of turning customers into lifelong clients. The Q1 results confirm that its strategy is working: profitable growth, unstoppable international expansion, and a platform that's essential in a post-pandemic world.

If you're looking for a stock that's scaling revenue, boosting margins, and dominating a $100 billion+ market—this is your call. Buy now, and watch it climb to $40+ by year-end.

Don't let this one slip away. The train is leaving the station—board now.