nCino Shares Jump Over 14% As Q2 Results Beat And Guidance Raised

nCino Inc. (NASDAQ:NCNO) shares rallied more than 14% Wednesday after the cloud banking software provider delivered stronger-than-expected fiscal second-quarter results and lifted its full-year outlook.

The company reported adjusted earnings of $0.22 per share, beating estimates of $0.14, while revenue climbed 12% year-over-year to $148.8 million, above consensus of $143.2 million. Subscription revenue rose 15% to $130.8 million, fueled by demand across lending and compliance products. Adjusted operating income jumped 56% year-over-year to $30 million.

nCino now expects full-year revenue between $585 million and $589 million and adjusted EPS of $0.77 to $0.80, compared with prior consensus of $581.5 million and $0.71. The company maintained its annual contract value (ACV) growth outlook at 9% to 10%.

For the fiscal third quarter, nCino forecast revenue of $146 million to $148 million and EPS of $0.20 to $0.21, both above Street expectations. Non-GAAP operating income is expected to reach up to $33.5 million.