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What guidance did Ncino's management provide for the next earnings period?

What factors drove the changes in Ncino's revenue and profit?

- **Revenue Growth**: Q3 revenue up 10% YoY to $152.2M, driven by U.S. mortgage (+2% YoY) and international expansion (13% as reported). Subscription revenue at $133.4M (+11% YoY).
- **AI-Driven Renewals**: 27% of ACV converted to platform pricing, with early renewals (+13% ACV uplift) reflecting AI halo effect. 110 customers using Banking Advisor, 100+ AI skills by year-end.
- **Financial Efficiency**: Operating margin expanded 600 bps to 26%, with $6.4M overperformance from U.S. mortgage and FX. Free cash flow management supports $100M share buyback.
- **International Expansion**: Japan's community bank market and EMEA pipeline growth position nCino for 10%+ ACV growth in FY27.
- **Rule of 40**: On track for Q4 2027, with AI and cost discipline driving margin expansion.

**【CEO Summary Section】**
- **Revenue Growth**: Total revenue of $152.2 million, up 10% YoY, with subscription revenue at $133.4 million (11% YoY). Key wins include a $5.5 billion bank doubling its contract and early renewals driven by AI features.
- **AI Strategy**: 110 customers have purchased Banking Advisor intelligence units, with 100+ AI capabilities expected by year-end. AI adoption is accelerating, with customers seeing 86% reduction in duplicate data entry and 91% faster decisions.
- **Customer Outcomes**: nCino customers show 64% better ROA and 75% superior ROE compared to peers. AI-powered solutions like Operations Analytics enable predictive risk monitoring and efficiency gains.
- **International Expansion**: New wins in Japan and EMEA, including a $90 billion Czech Republic bank adopting Integration Gateway. Japan's community bank market is seen as a growth opportunity similar to early U.S. adoption.

**【CFO Financial Commentary】**
- **Financial Highlights**: Non-GAAP net income of $35.8 million ($0.31 EPS), up 13% YoY. Operating margin expanded 600 bps to 26%, driven by $6.4 million overperformance in subscription revenues (U.S. mortgage +$1.8M, FX +$0.2M).
- **Platform Pricing**: 27% of ACV converted to platform pricing, up from 21% last quarter. Early renewals reflect customer demand for AI and pricing transparency.
- **Free Cash Flow**: $87.9M cash on hand, with $39.7M spent on share buybacks. Q4 guidance: $146.75M-$148.25M total revenue, $130.75M-$132.25M subscription revenue (4%-5% YoY).
- **Rule of 40**: On track to achieve by Q4 2027, with leaner operations and AI-driven efficiency.

**【Q&A Highlights】**
- **AI Adoption**: 110 customers using Banking Advisor, with 25% moving beyond test phases. Early adopters see 20%-30% productivity gains, driving intelligence unit consumption.
- **M&A Impact**: 270+ M&A events since 2016, with 95% retention of nCino as platform. Bank consolidation is a tailwind, with nCino as the default platform for growth.
- **International Momentum**: Japan's community bank market mirrors early U.S. adoption, with 200+ attendees at Tokyo Summit. EMEA pipeline growth reflects focus on large banks and onboarding solutions.
- **Execution Confidence**: Q3 overperformance ($1.4M execution, $0.5M contract buyout) validates team execution, with Q4 bookings well-positioned for FY27 growth.

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