By Kailyn Rhone
Shares of nCino were down after the company's total revenue guidance for the fourth quarter and fiscal year 2025 missed analyst expectations.
The company's stock dropped 14% to $36.45 in after-hours trading Wednesday. Shares are up 26% this year.
The cloud-based banking platform guided for total revenue in the fourth quarter of $139.5 million to $141.5 million, below the $143.8 million expected by analysts polled by FactSet. It now expects total revenue for the year-ending Jan. 31 of $539 million to $541 million, just missing the $541.6 million forecast from analysts.
For the fourth quarter, nCino expects subscription revenue of $122.5 million to $124.5 million, and adjusted earnings per share of 18 cents to 19 cents.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
December 04, 2024 18:49 ET (23:49 GMT)
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