Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jul. 31, 2021

Jul. 31, 2020

Jul. 31, 2021

Jul. 31, 2020

Revenues

Total revenues

$ 66,519

$ 48,765

$ 128,874

$ 93,477

Cost of revenues

Total cost of revenues

26,575

22,587

52,874

41,453

Gross profit

39,944

26,178

76,000

52,024

Operating expenses

Sales and marketing

^[1]

19,216

15,626

37,641

27,852

Research and development

^[1]

18,609

15,292

36,034

26,257

General and administrative

^[1]

15,287

10,953

30,967

17,879

Total operating expenses

53,112

41,871

104,642

71,988

Loss from operations

(13,168)

(15,693)

(28,642)

(19,964)

Non-operating income (expense)

Interest income

116

211

Interest Expense

(330)

(598)

Other income (expense), net

(337)

1,117

(70)

597

Loss before income tax expense

(13,776)

(14,521)

(29,194)

(19,156)

Income tax expense

487

203

674

400

Net loss

(14,263)

(14,724)

(29,868)

(19,556)

Net loss attributable to redeemable non-controlling interest (Note 3)

(403)

(232)

(870)

(408)

Adjustment attributable to redeemable non-controlling interest (Note 3)

(177)

154

(307)

267

Net loss attributable to nCino, Inc.

$ (13,683)

$ (14,646)

$ (28,691)

$ (19,415)

Net loss per share attributable to nCino, Inc.:

Basic (in USD per share)

$ (0.14)

$ (0.17)

$ (0.30)

$ (0.23)

Diluted (in USD per share)

$ (0.14)

$ (0.17)

$ (0.30)

$ (0.23)

Weighted average number of common shares outstanding:

Basic (in shares)

95,661,756

84,629,777

95,042,448

83,112,132

Diluted (in shares)

95,661,756

84,629,777

95,042,448

83,112,132

License and Service

Revenues

Total revenues

$ 53,934

$ 39,351

$ 104,967

$ 74,182

Cost of revenues

Total cost of revenues

^[1]

15,308

11,920

30,254

22,019

Professional Services

Revenues

Total revenues

12,585

9,414

23,907

19,295

Cost of revenues

Total cost of revenues

^[1]

$ 11,267

$ 10,667

$ 22,620

$ 19,434

[1]

1Includes stock-based compensation expense as follows:


	Three Months Ended July 31,				Six Months Ended July 31,
	2020		2021		2020		2021
Cost of subscription revenues	$	242	$	257	$	303	$	542
Cost of professional services revenues	2,282		1,340		2,548		2,672
Sales and marketing	3,346		1,977		3,661		3,730
Research and development	3,031		1,686		3,340		3,229
General and administrative	4,368		2,380		4,468		4,531
Total stock-based compensation expense	$	13,269	$	7,640	$	14,320	$	14,704

NCINO, INC. 10-Q