ph casino slot SAND SPRINGS, Okla. , Dec. 2, 2024 /PRNewswire/ -- Webco Industries, Inc. WEBC today reported results for our first quarter of fiscal year 2025, which ended October 31, 2024 . For our first quarter of fiscal year 2025, we had a net loss of $0.1 million , or a loss of $0.13 per diluted share, while in our first quarter of fiscal year 2024, we had net income of $5.1 million , or $6.25 per diluted share. Net sales for the first quarter of fiscal 2025 were $141.4 million , a 10.4 percent decrease from the $157.8 million of sales in the first quarter of fiscal year 2024. Dana S. Weber , Chief Executive Officer and Board Chair, stated, "The domestic manufacturing economy has been worsening over the past year. Further, we have certain markets that are being adversely impacted by foreign imports. We continue to focus on positioning Webco for various economic environments and opportunities by maintaining a strong balance sheet and good liquidity and making compelling investments in our business. Our total cash, short-term investments and available credit on our revolver were $89.0 million at October 31, 2024 , which we believe to be a competitive advantage." In the first quarter of fiscal year 2025, we had income from operations of $1.1 million after depreciation of $4.7 million . The first fiscal quarter of the prior year generated income from operations of $8.0 million after depreciation of $3.7 million . Gross profit for the first quarter of fiscal 2025 was $13.6 million , or 9.7 percent of net sales, compared to $21.6 million , or 13.7 percent of net sales, for the first quarter of fiscal year 2024. Selling, general and administrative expenses were $12.6 million in the first quarter of fiscal 2025 and $13.6 million in the first quarter of fiscal 2024. SG&A expenses in the first quarter of fiscal year 2025 reflect a decrease in costs related to lower profitability, such as company-wide incentive compensation and variable pay programs, offset by inflation we have experienced in wages and other expenses. Interest expense was $1.2 million in the first quarter of fiscal year 2025 and $1.3 million in the same quarter of fiscal year 2024. Average construction-based investments decreased in fiscal year 2025 and, as a result, capitalized interest decreased $0.2 million when compared to the first quarter of fiscal year 2024. Capitalized interest decreases net interest expense in the consolidated statement of operations. Notwithstanding capitalized interest, the impact of increased interest rates was more than offset by lower average debt balances. Capital expenditures incurred amounted to $5.1 million in the first quarter of fiscal year 2025, down from $10.1 in the first quarter of fiscal year 2024. Included in our capital spending for the first quarter of fiscal year 2024 was construction of our F. William Weber Leadership Campus, which houses our Tech Center and corporate headquarters. The Tech Center, which is the tip of the spear that leads Webco's trusted and technical brand throughout our industry, was completed in the fourth quarter of fiscal year 2024. As of October 31, 2024 , we had $18.6 million in cash and short-term investments, in addition to $70.4 million of available borrowing under our $220 million senior revolving credit facility. Availability on the revolver, which had $44.0 million drawn at October 31, 2024 , was subject to advance rates on eligible accounts receivable and inventories. Our term loan and revolver mature in September 2027. Accounting rules require asset-based debt agreements like our revolver to be classified as a current liability, despite its fiscal year 2028 maturity. Webco's stock repurchase program authorizes the purchase of our outstanding common stock in private or open market transactions. In September 2023 , the Company's Board of Directors refreshed the repurchase program with a new limit of up to $40 million and extended the program's expiration until July 31 , 2026. We purchased 2,850 shares of our stock during the first quarter of fiscal year 2025. Including the current fiscal year, Webco has purchased approximately 158,000 shares over the course of the last five fiscal years. The repurchase plan may be extended, suspended or discontinued at any time, without notice, at the Board's discretion. Webco's mission is to continuously build on our strengths as we create a vibrant company for the ages. We leverage our core values of trust and teamwork, continuously building strength, agility and innovation. We focus on practices that support our brand such that we are 100% engaged every day to build a forever kind of company for our Trusted Teammates, customers, business partners, investors and community. We provide high-quality carbon steel, stainless steel and other metal specialty tubing products designed to industry and customer specifications. We have five tube production facilities in Oklahoma and Pennsylvania and eight value-added facilities in Oklahoma , Illinois , Michigan , Pennsylvania and Texas , serving customers globally. Our F. William Weber Leadership Campus is in Sand Springs, Oklahoma and houses our corporate offices and our Webco TechCenterTM, providing a state-of-the-art laboratory and R & D facility to lead and develop technical solutions. Risk Factors and Forward-looking statements: Certain statements in this release, including, but not limited to, those preceded by or predicated upon the words "anticipates," "appears," "believes," "estimates," "expects," "forever," "hopes," "intends," "plans," "projects," "pursue," "should," "will," "wishes," or similar words may constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company, or industry results, to differ materially from any future results, performance or achievements expressed or implied herein. Such risks, uncertainties and factors include the factors discussed above and, among others: general economic and business conditions, including any global economic downturn; government policy or low hydrocarbon prices that stifle domestic investment in energy; competition from foreign imports, including any impacts associated with dumping or the strength of the U.S. dollar; political or social environments that are unfriendly to industrial or energy-related businesses; changes in manufacturing technology; the banking environment, including availability of adequate financing; worldwide and domestic monetary policy; changes in tax rates and regulation; regulatory and permitting requirements, including, but not limited to, environmental, workforce, healthcare, safety and national security; availability and cost of adequate qualified and competent personnel; changes in import / export tariff or restrictions; volatility in raw material cost and availability for the Company, its customers and vendors; the cost and availability, including time for delivery, of parts and services necessary to maintain equipment essential to the Company's manufacturing activities; the cost and availability of manufacturing supplies, including process gases; volatility in oil, natural gas and power cost and availability; world-wide or national transition from hydrocarbon sources of energy that adversely impact demand for our products; problems associated with product development efforts; significant shifts in product demand away from internal combustion engine automobiles; appraised values of inventories that can impact available borrowing under the Company's credit facility; declaration of material adverse change by a lender; industry capacity; domestic competition; loss of, or reductions in, purchases by significant customers and customer work stoppages; work stoppages by critical suppliers; labor unrest; conditions, including acts of God, that require more costly transportation of raw materials; accidents, equipment failures and insured or uninsured casualties; third-party product liability claims; flood, tornado, winter storms and other natural disasters; customer or supplier bankruptcy; customer or supplier declarations of force majeure; customer or supplier breach of contract; insurance cost and availability; lack of insurance coverage for floods; the cost associated with providing healthcare benefits to employees; customer claims; supplier quality or delivery problems; technical and data processing capabilities; cyberattack on our information technology infrastructure; world, domestic or regional health crises; vaccine mandates or related governmental policy that would cause significant portions of our workforce, or that of our customers or vendors, to leave their current employment; global or regional wars and conflicts; our inability or unwillingness to comply with rules required to maintain the quotation of our shares on any market place; and our inability to repurchase the Company's stock. The Company assumes no obligation to publicly update any such forward-looking statements. No assurance is provided that current results are indicative of those that will be realized in the future. - TABLES FOLLOW - WEBCO INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share data - Unaudited) Three Months Ended October 31, 2024 2023 Net sales $ 141,386 $ 157,837 Cost of sales 127,740 136,231 Gross profit 13,646 21,606 Selling, general & administrative expenses 12,564 13,629 Income (loss) from operations 1,082 7,977 Interest expense 1,151 1,293 Pretax income (loss) (69) 6,684 Provision for (benefit from) income taxes 37 1,600 Net income (loss) $ (106) $ 5,084 Net income (loss) per share: Basic $ (0.13) $ 6.43 Diluted $ (0.13) $ 6.25 Weighted average common shares outstanding: Basic 798,000 790,000 Diluted 798,000 814,000 CASH FLOW DATA (Dollars in thousands - Unaudited) Three Months Ended October 31, 2024 2023 Net cash provided by (used in) operating activities $ 13,851 $ 18,050 Depreciation and amortization $ 4,694 $ 3,696 Cash paid for capital expenditures $ 5,551 $ 12,588 Notes: Amounts may not sum due to rounding. WEBCO INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Dollars in thousands - Unaudited) October 31, July 31, 2024 2024 Current assets: Cash $ 2,485 $ 1,171 U.S. Treasury Bonds 16,103 15,903 Accounts receivable 58,668 70,249 Inventories, net 174,673 169,513 Prepaid expenses 9,303 9,530 Total current assets 261,233 266,366 Property, plant and equipment, net 168,748 168,186 Right of use, finance leases, net 954 1,043 Right of use, operating leases, net 21,891 21,879 Other long-term assets 15,696 15,611 Total assets $ 468,522 $ 473,085 Current liabilities: Accounts payable $ 30,230 $ 28,109 Accrued liabilities 32,706 33,066 Current portion of long-term debt, net 43,799 49,115 Current portion of finance lease liabilities 427 429 Current portion of operating lease liabilities 5,178 5,063 Total current liabilities 112,340 115,782 Long-term debt, net of current portion 20,000 20,000 Finance lease liabilities, net of current portion 574 657 Operating lease liabilities, net of current portion 16,577 16,653 Deferred tax liability 39 886 Stockholders' equity: Common stock 9 9 Additional paid-in capital 54,545 54,256 Retained earnings 264,437 264,842 Total stockholders' equity 318,991 319,107 Total liabilities and stockholders' equity $ 468,522 $ 473,085 Notes: Amounts may not sum due to rounding. CONTACT: Mike Howard Chief Financial Officer (918) 241-1094 mhoward@webcotube.com View original content: https://www.prnewswire.com/news-releases/webco-industries-inc-reports-fiscal-2025-first-quarter-results-302320142.html SOURCE Webco Industries, Inc. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

EW LEGAL DEADLINE: Edwards Lifesciences Class Action Deadline is Approaching – Contact BFA Law if You Suffered Losses (NYSE:EW)

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New York, NY, Dec. 12, 2024 (GLOBE NEWSWIRE) -- The world of cryptocurrency is a complex landscape, filled with opportunities but also fraught with risks. Today, Broker Complaint Alert (BCA) is proud to introduce its cutting-edge AI-driven solutions designed to tackle one of the most pressing challenges in the crypto space: the recovery of lost or stolen digital assets. Artificial intelligence (AI) is revolutionizing crypto recovery, enhancing security measures, and improving recovery efforts. Through advanced algorithms and real-time monitoring, AI can identify suspicious activities, predict, and even prevent future crypto scams. Services like BCA are at the forefront of this innovation, using AI to trace illicit crypto flows and restore investor confidence. Understanding the Intersection of AI and Crypto Recovery The combination of AI and crypto recovery represents a groundbreaking shift in digital asset security. AI offers powerful tools to combat fraud and aid in retrieving lost assets. AI technologies continue to evolve, presenting new opportunities for crypto recovery. They provide solutions that are both efficient and effective in dealing with cyber threats. The Evolution of AI in Crypto Fraud Detection AI-driven solutions have transformed how we detect crypto fraud. Initially, fraud detection relied heavily on human oversight and manual checks. Now, AI models automate the process, identifying anomalies with speed and precision. This evolution makes fraud detection faster and significantly more accurate than before. AI Algorithms: The New Frontier in Security Measures AI algorithms are pioneering the way in advanced security measures for crypto recovery. They analyze vast amounts of data, providing insights that were once unimaginable. These algorithms enhance security by pinpointing suspicious activities that might go unnoticed otherwise. This advanced technology is crucial for building robust defenses against digital threats. Broker Complaint Alert (BCA) and AI-Powered Recovery Efforts Broker Complaint Alert (BCA) leverages AI to revolutionize fund recovery processes. This platform uses AI technology to streamline recovery efforts and enhance protection for investors. By integrating advanced AI tools, BCA significantly improves the speed and efficiency of recovering lost digital assets. This approach has redefined how investors regain their funds. How BCA Utilizes AI to Protect Investors BCA employs AI algorithms to detect and prevent fraudulent activities. These tools monitor transactional data in real-time, identifying potential threats and protecting investments. Additionally, AI-powered analyses help BCA identify suspicious patterns swiftly. This proactive approach ensures investors can mitigate risks before they escalate. Case Studies: Successful Fund Recovery with AI Assistance Several case studies highlight the success of AI-assisted recovery in the crypto world. BCA has reported impressive outcomes, retrieving assets for multiple investors. These real-life examples demonstrate AI's impact on resolving complex cases. By adopting AI, BCA proves its capability to tackle intricate fraud schemes effectively. Advanced Technologies in Action: AI-Driven Anomaly Detection Anomaly detection is a key feature of AI in crypto recovery. Advanced AI technologies enable the identification of unusual patterns, often unnoticed by human analysts. These AI-driven tools can spot irregularities amidst vast data sets. As technologies continue to evolve, they significantly bolster security measures for digital assets. Real-Time Monitoring and AI Models Real-time monitoring with AI models has transformed crypto recovery efforts. These models continuously analyze vast amounts of data to detect inconsistencies. This advanced approach provides immediate alerts when potential threats are identified. It improves response times, enabling quicker actions to secure digital assets. Identifying Suspicious Activities with AI Identifying suspicious activities has become more precise with AI. AI tools are adept at recognizing potential fraud scenarios within transactions. By leveraging the power of machine learning, these tools can adapt to new patterns. This adaptability keeps them effective against evolving crypto scams, ensuring robust fund recovery strategies. The Future of Crypto Recovery: AI and Blockchain Synergy The future of crypto recovery lies in the synergy between AI and blockchain technology. AI's analytical abilities combined with blockchain's transparency can significantly enhance recovery processes. This integration opens new possibilities for tracing and retrieving lost digital assets. The collaboration of these technologies promises a more secure and trustworthy crypto environment. AI's Role in Enhancing Blockchain Transparency and Trust AI plays a crucial role in boosting blockchain transparency. By analyzing blockchain data, AI algorithms uncover hidden activities that may signal fraud. This transparency builds trust among investors and consumers. As AI identifies suspicious transactions, blockchain technology records them, providing an immutable audit trail for future reference. Preparing for Tomorrow: Continuous Learning and AI Adaptation Continuous learning is vital for AI in crypto recovery. AI systems must constantly evolve to stay ahead of cyber threats. Through regular updates, AI models can adjust to new fraud patterns. This adaptability is essential to maintain the efficiency and effectiveness of crypto recovery efforts in the ever-changing digital landscape. Conclusion: Embracing AI for a Safer Crypto Environment Embracing AI in crypto recovery is pivotal for a secure future. By leveraging AI's capabilities, we can protect digital assets and restore trust in the cryptocurrency market. As AI technologies continue to advance, they offer promising solutions to challenges in fund recovery, ensuring a safer crypto environment for all. About the company: Broker Complaint Alert (BCA) is a leading cryptocurrency recovery firm dedicated to helping individuals and businesses reclaim lost or stolen digital assets. Specializing in investigating fraudulent activities, including scams, hacks, and exchange failures, BCA leverages advanced blockchain forensics, AI technology, and legal expertise to locate and recover funds. Our team works closely with law enforcement, regulatory bodies, and industry experts to provide clients with transparent, reliable, and effective crypto asset recovery solutions. Whether you've fallen victim to a scam or lost access to your crypto holdings, BCA is here to help you navigate the complex process of recovery. Website: https://brokercomplaintalert.org Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The latest development came hours after thousands of his supporters, defying government warnings, broke through a barrier of shipping containers blocking off Islamabad and entered a high-security zone, where they clashed with security forces, facing tear gas shelling, mass detentions and gunfire. Tension has been high in Islamabad since Sunday when supporters of the former PM began a “long march” from the restive north-west to demand his release. Khan has been in a prison for more than a year and faces more than 150 criminal cases that his party says are politically motivated. Khan’s wife, Bushra Bibi, led the protest, but she fled as police pushed back against demonstrators. Hundreds of Khan’s supporters are being arrested in the ongoing night-time operation. Interior minister Mohsin Naqvi told reporters that the Red Zone, which houses government buildings and embassies, and the surrounding areas have been cleared. Leaders from Khan’s Pakistan Tehreek-e-Insaf party, or PTI, have also fled the protest site. Earlier on Tuesday, Pakistan’s army took control of D-Chowk, a large square in the Red Zone, where visiting Belarusian President Alexander Lukashenko is staying. Since Monday, Mr Naqvi had threatened that security forces would use live fire if protesters fired weapons at them. “We have now authorised the police to respond as necessary,” Mr Naqvi said Tuesday while visiting the square. Before the operation began, protester Shahzor Ali said people had taken to the streets because Khan had called for them. “We will stay here until Khan joins us. He will decide what to do next,” Mr Ali said. Protester Fareeda Bibi, who is not related to Khan’s wife, said people have suffered greatly for the last two years. “We have really suffered for the last two years, whether it is economically, politically or socially. We have been ruined. I have not seen such a Pakistan in my life,” she said. Authorities have struggled to contain the protest-related violence. Six people, including four members of the security services, were killed when a vehicle rammed them on a street overnight into Tuesday. A police officer died in a separate incident. Dozens of Khan supporters beat a videographer covering the protest for the Associated Press and took his camera. He sustained head injuries and was treated in hospital. By Tuesday afternoon, fresh waves of protesters made their way unopposed to their final destination in the Red Zone. Mr Naqvi said Khan’s party had rejected a government offer to rally on the outskirts of the city. Information minister Atta Tarar warned there would be a severe government reaction to the violence. The government says only the courts can order Khan’s release. He was ousted in 2022 through a no-confidence vote in Parliament. In a bid to foil the unrest, police have arrested more than 4,000 Khan supporters since Friday and suspended mobile and internet services in some parts of the country. Messaging platforms were also experiencing severe disruption in the capital. Khan’s party relies heavily on social media and uses messaging platforms such as WhatsApp to share information, including details of events. The X platform, which is banned in Pakistan, is no longer accessible, even with a VPN. Last Thursday, a court prohibited rallies in the capital and Mr Naqvi said anyone violating the ban would be arrested. Travel between Islamabad and other cities has become nearly impossible because of shipping containers blocking the roads. All education institutions remain closed.

Bryant defeats Tennessee State 97-85Stoli vodka files for bankruptcy in the United States• Total Revenues of $138.8M , up 14% year-over-year • Subscription Revenues of $119.9M , up 14% year-over-year • GAAP Operating Margin of (1)% , up ~1,000 basis points year-over-year • Non-GAAP Operating Margin of 20% , up ~350 basis points year-over-year WILMINGTON, N.C., Dec. 04, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. NCNO , the leading provider of intelligent, best-in-class banking solutions, today announced financial results for the third quarter of fiscal year 2025, ended October 31, 2024. "We are very pleased with our third quarter results, once again exceeding expectations for both revenues and non-GAAP operating income," said Pierre Naudé, Chairman and CEO at nCino. "The team delivered solid execution globally, with over 30 multi-solution deals and more gross bookings from net new customers than the previous two quarters combined. Multi-solution deals continue to show the demand for a true end-to-end platform for financial institutions to onboard customers, open accounts, originate loans and manage the portfolio across multiple business lines. We remain focused on innovation and delivering efficiencies that create real business value, and we're excited by the strength and expansion we saw in our business this quarter as a result of that reputation." Financial Highlights Revenues: Total revenues for the third quarter of fiscal 2025 were $138.8 million, a 14% increase from $121.9 million in the third quarter of fiscal 2024. Subscription revenues for the third quarter were $119.9 million, up from $104.8 million one year ago, an increase of 14%. Income (Loss) from Operations: GAAP loss from operations in the third quarter of fiscal 2025 was $(0.8) million compared to $(12.9) million in the same quarter of fiscal 2024. Non-GAAP operating income in the third quarter of fiscal 2025 was $28.0 million compared to $20.4 million in the third quarter of fiscal 2024, an increase of 38%. Net Income (Loss) Attributable to nCino: GAAP net loss attributable to nCino in the third quarter of fiscal 2025 was $(5.3) million compared to $(16.4) million in the third quarter of fiscal 2024. Non-GAAP net income attributable to nCino in the third quarter of fiscal 2025 was $24.4 million compared to $16.2 million in the third quarter of fiscal 2024, an increase of 51%. Net Income (Loss) Attributable to nCino per Share: GAAP net loss attributable to nCino in the third quarter of fiscal 2025 was $(0.05) per basic and diluted share compared to $(0.15) per basic and diluted share in the third quarter of fiscal 2024. Non-GAAP net income attributable to nCino in the third quarter was $0.21 per diluted share compared to $0.14 per diluted share in the third quarter of fiscal 2024. Remaining Performance Obligation: Total Remaining Performance Obligation (RPO) as of October 31, 2024, was $1.095 billion, compared with $917.1 million as of October 31, 2023, an increase of 19%. RPO expected to be recognized in the next 24 months was $730.0 million, an increase of 16% from $627.6 million as of October 31, 2023. Cash: Cash, cash equivalents, and restricted cash were $258.3 million as of October 31, 2024, which reflected refinancing the revolving credit facility and included $129.7 million that was subsequently utilized to acquire FullCircl on November 5, 2024. Recent Business Highlights Completed acquisition of FullCircl: Closed the acquisition of FullCircl on November 5, 2024, expanding nCino's onboarding capabilities by adding data aggregation components to the platform for financial institutions in EMEA. Signed a multi-solution expansion agreement with a top-40 bank in the U.S.: Shortly after quarter end, expanded relationship with a top-40 bank in the U.S. for Commercial and Small Business Lending, Commercial Pricing & Profitability, Automated Spreading and Banking Advisor. Signed first Banking Advisor deal in Australia: Extended relationship with a top-5 Australian bank for three years with the addition of Banking Advisor. Signed largest customer in Japan: Tokushima Taisho Bank selected nCino to transform its business lending operations, making the bank nCino's largest customer in Japan. Signed an expansion agreement with the largest bank in Norway: The bank expanded its adoption of nCino Commercial Lending, including Banking Advisor, and will also be running Credit Portfolio Management and ESG reporting on nCino. One of the largest home builders in the U.S. went live on the nCino Mortgage Solution: The affiliate mortgage company of a large, national home builder completed its rollout of the nCino Mortgage Solution. Financial Outlook nCino is providing guidance for its fourth quarter ending January 31, 2025 , as follows: Total revenues between $139.5 million and $141.5 million. Subscription revenues between $122.5 million and $124.5 million. Non-GAAP operating income between $23.25 million and $24.25 million. Non-GAAP net income attributable to nCino per diluted share of $0.18 to $0.19. nCino is providing guidance for its fiscal year 2025 ending January 31, 2025 , as follows: Total revenues between $539.0 million and $541.0 million. Subscription revenues between $467.0 million and $469.0 million. Non-GAAP operating income between $95.0 million and $96.0 million. Non-GAAP net income attributable to nCino per diluted share of $0.75 to $0.76. Conference Call nCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook. The conference call will be available via live webcast and replay at the Investor Relations section of nCino's website: https://investor.ncino.com/news-events/events-and-presentations . About nCino nCino NCNO is powering a new era in financial services. The Company was founded to help financial institutions digitize and reengineer business processes to boost efficiencies and create better banking experiences. With over 1,800 customers worldwide - including community banks, credit unions, independent mortgage banks, and the largest financial entities globally - nCino offers a trusted platform of best-in-class, intelligent solutions. By integrating artificial intelligence and actionable insights into its platform, nCino is helping financial institutions consolidate legacy systems to enhance strategic decision-making, improve risk management, and elevate customer satisfaction by cohesively bringing together people, AI and data. For more information, visit www.ncino.com . Forward-Looking Statements: This press release contains forward-looking statements about nCino's financial and operating results, which include statements regarding nCino's future performance, outlook, guidance, the assumptions underlying those statements, the benefits from the use of nCino's solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," or "continues" or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino's historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino's expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with acquisitions we undertake, (iv) breaches in our security measures or unauthorized access to our customers' or their clients' data; (v) the accuracy of management's assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution; (vii) competitive factors, including pricing pressures, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (viii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses. Additional risks and uncertainties that could affect nCino's business and financial results are included in our reports filed with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC's web site at www.sec.gov ). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time. nCino, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) January 31, 2024 October 31, 2024 Assets Current assets Cash and cash equivalents $ 112,085 $ 257,894 Accounts receivable, net 112,975 65,013 Costs capitalized to obtain revenue contracts, current portion, net 10,544 12,214 Prepaid expenses and other current assets 15,171 13,523 Total current assets 250,775 348,644 Property and equipment, net 79,145 75,711 Operating lease right-of-use assets, net 19,261 14,938 Costs capitalized to obtain revenue contracts, noncurrent, net 17,425 20,185 Goodwill 838,869 908,559 Intangible assets, net 115,572 128,344 Investments 9,294 9,294 Long-term prepaid expenses and other assets 10,089 10,931 Total assets $ 1,340,430 $ 1,516,606 Liabilities, redeemable non-controlling interest, and stockholders' equity Current liabilities Accounts payable $ 11,842 $ 12,123 Accrued compensation and benefits 16,283 16,370 Accrued expenses and other current liabilities 10,847 11,594 Deferred revenue, current portion 170,941 132,382 Financing obligations, current portion 1,474 1,614 Operating lease liabilities, current portion 3,649 4,830 Total current liabilities 215,036 178,913 Operating lease liabilities, noncurrent 16,423 11,829 Deferred income taxes, noncurrent 3,687 10,577 Deferred revenue, noncurrent — 431 Revolving credit facility, noncurrent — 166,000 Financing obligations, noncurrent 52,680 51,624 Other long-term liabilities — 3,726 Total liabilities 287,826 423,100 Commitments and contingencies Redeemable non-controlling interest 3,428 5,243 Stockholders' equity Common stock 57 58 Additional paid-in capital 1,400,881 1,456,411 Accumulated other comprehensive income 996 1,615 Accumulated deficit (352,758 ) (369,821 ) Total stockholders' equity 1,049,176 1,088,263 Total liabilities, redeemable non-controlling interest, and stockholders' equity $ 1,340,430 $ 1,516,606 nCino, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) (Unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2023 2024 2023 2024 Revenues Subscription $ 104,759 $ 119,894 $ 301,996 $ 344,211 Professional services and other 17,183 18,903 50,854 55,076 Total revenues 121,942 138,797 352,850 399,287 Cost of revenues Subscription 30,605 33,769 89,481 98,916 Professional services and other 17,420 19,976 52,779 59,940 Total cost of revenues 48,025 53,745 142,260 158,856 Gross profit 73,917 85,052 210,590 240,431 Gross margin % 61 % 61 % 60 % 60 % Operating expenses Sales and marketing 38,446 29,729 100,551 89,487 Research and development 29,043 33,039 87,127 97,291 General and administrative 19,334 23,108 59,239 66,046 Total operating expenses 86,823 85,876 246,917 252,824 Loss from operations (12,906 ) (824 ) (36,327 ) (12,393 ) Non-operating income (expense) Interest income 685 482 2,057 1,408 Interest expense (854 ) (1,653 ) (3,277 ) (4,965 ) Other income (expense), net (2,320 ) 432 (2,633 ) (162 ) Loss before income taxes (15,395 ) (1,563 ) (40,180 ) (16,112 ) Income tax provision 1,782 2,589 4,720 1,360 Net loss (17,177 ) (4,152 ) (44,900 ) (17,472 ) Net loss attributable to redeemable non-controlling interest (320 ) (186 ) (868 ) (409 ) Adjustment attributable to redeemable non-controlling interest (478 ) 1,286 (526 ) 2,205 Net loss attributable to nCino, Inc. $ (16,379 ) $ (5,252 ) $ (43,506 ) $ (19,268 ) Net loss per share attributable to nCino, Inc.: Basic and diluted $ (0.15 ) $ (0.05 ) $ (0.39 ) $ (0.17 ) Weighted average number of common shares outstanding: Basic and diluted 112,951,553 115,611,833 112,484,017 114,970,622 nCino, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Nine Months Ended October 31, 2023 2024 Cash flows from operating activities Net loss attributable to nCino, Inc. $ (43,506 ) $ (19,268 ) Net loss and adjustment attributable to redeemable non-controlling interest (1,394 ) 1,796 Net loss (44,900 ) (17,472 ) Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 37,337 26,132 Non-cash operating lease costs 3,581 3,844 Amortization of costs capitalized to obtain revenue contracts 7,368 8,724 Amortization of debt issuance costs 138 60 Stock-based compensation 41,969 53,015 Deferred income taxes 881 (2,496 ) Provision for bad debt 1,124 25 Net foreign currency losses (gains) 2,275 (658 ) Loss on disposal of long-lived assets 161 35 Change in operating assets and liabilities: Accounts receivable 35,455 50,184 Costs capitalized to obtain revenue contracts (5,959 ) (13,199 ) Prepaid expenses and other assets 3,374 656 Accounts payable 1,184 1,056 Accrued expenses and other liabilities (7,999 ) (148 ) Deferred revenue (23,789 ) (41,604 ) Operating lease liabilities (3,063 ) (2,936 ) Net cash provided by operating activities 49,137 65,218 Cash flows from investing activities Acquisition of business, net of cash acquired — (90,839 ) Acquisition of assets (356 ) (450 ) Purchases of property and equipment (3,083 ) (1,466 ) Purchase of investment (2,500 ) — Net cash used in investing activities (5,939 ) (92,755 ) Cash flows from financing activities Investment from redeemable non-controlling interest 983 — Proceeds from borrowings on revolving credit facility — 241,000 Payments on revolving credit facility (30,000 ) (75,000 ) Payments of debt issuance costs — (1,382 ) Exercise of stock options 3,176 2,223 Stock issuance under the employee stock purchase plan 2,698 2,514 Principal payments on financing obligations (888 ) (916 ) Net cash provided by (used in) financing activities (24,031 ) 168,439 Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash (762 ) (93 ) Net increase in cash, cash equivalents, and restricted cash 18,405 140,809 Cash, cash equivalents, and restricted cash, beginning of period 87,418 117,444 Cash, cash equivalents, and restricted cash, end of period $ 105,823 $ 258,253 Reconciliation of cash, cash equivalents, and restricted cash, end of period: Cash and cash equivalents $ 100,475 $ 257,894 Restricted cash included in prepaid expenses and other current assets 5,000 — Restricted cash included in long-term prepaid expenses and other assets 348 359 Total cash, cash equivalents, and restricted cash, end of period $ 105,823 $ 258,253 Non-GAAP Financial Measures In nCino's public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures. Amortization of Purchased Intangibles. nCino incurs amortization expense for purchased intangible assets in connection with certain mergers and acquisitions. Because these costs have already been incurred, cannot be recovered, are non-cash, and are affected by the inherent subjective nature of purchase price allocations, nCino excludes these expenses for our internal management reporting processes. nCino's management also finds it useful to exclude these charges when assessing the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Although nCino excludes amortization expense for purchased intangibles from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Stock-Based Compensation Expenses. nCino excludes stock-based compensation expenses primarily because they are non-cash expenses that nCino excludes from our internal management reporting processes. nCino's management also finds it useful to exclude these expenses when they assess the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use, nCino believes excluding stock-based compensation expenses allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies. Acquisition-Related Expenses. nCino excludes expenses related to acquisitions as they limit comparability of operating results with prior periods. We believe these costs, which are primarily related to legal, consulting and other professional services fees, are non-recurring in nature and outside the ordinary course of business. Litigation Expenses. nCino excludes fees and expenses related to litigation expenses incurred from legal matters outside the ordinary course of our business as we believe their exclusion from non-GAAP operating expenses will facilitate a more meaningful explanation of operating results and comparisons with prior period results. Restructuring Costs. nCino excludes costs incurred related to bespoke restructuring plans and other one-time costs that are fundamentally different in strategic nature and frequency from ongoing initiatives. We believe excluding these costs facilitates a more consistent comparison of operating performance over time. Tax Benefit Related to Acquisitions. In connection with deferred tax liabilities assumed from acquisitions, nCino may reduce the valuation allowance against deferred tax assets, resulting in a one-time tax benefit recorded in Income tax provision (benefit). We believe that the exclusion of this benefit from our non-GAAP net income attributable to nCino and non-GAAP net income attributable to nCino per share provides a more direct comparison to all periods presented. Income Tax Effect on Non-GAAP Adjustments. The income tax effects are related to the imputed tax impact on the difference between GAAP and non-GAAP costs and expenses. Adjustment to Redeemable Non-Controlling Interest. nCino adjusts the value of redeemable non-controlling interest of its joint venture nCino K.K. in accordance with the operating agreement for that entity. nCino believes investors benefit from an understanding of the company's operating results absent the effect of this adjustment, and for comparability, has reconciled this adjustment for previously reported non-GAAP results. There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino's management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below. nCino, Inc. RECONCILIATION OF GAAP TO NON-GAAP MEASURES (In thousands, except share and per share data) (Unaudited) Three Months Ended October 31, Nine Months Ended October 31, 2023 2024 2023 2024 GAAP total revenues $ 121,942 $ 138,797 $ 352,850 $ 399,287 GAAP cost of subscription revenues $ 30,605 $ 33,769 $ 89,481 $ 98,916 Amortization expense - developed technology (3,990 ) (4,404 ) (12,431 ) (12,926 ) Stock-based compensation (515 ) (733 ) (1,314 ) (2,088 ) Restructuring charges (12 ) — (51 ) — Non-GAAP cost of subscription revenues $ 26,088 $ 28,632 $ 75,685 $ 83,902 GAAP cost of professional services and other revenues $ 17,420 $ 19,976 $ 52,779 $ 59,940 Amortization expense - other (82 ) (82 ) (247 ) (247 ) Stock-based compensation (2,571 ) (2,940 ) (6,660 ) (8,699 ) Restructuring charges (26 ) — (118 ) — Non-GAAP cost of professional services and other revenues $ 14,741 $ 16,954 $ 45,754 $ 50,994 GAAP gross profit $ 73,917 $ 85,052 $ 210,590 $ 240,431 Amortization expense - developed technology 3,990 4,404 12,431 12,926 Amortization expense - other 82 82 247 247 Stock-based compensation 3,086 3,673 7,974 10,787 Restructuring charges 38 — 169 — Non-GAAP gross profit $ 81,113 $ 93,211 $ 231,411 $ 264,391 The following table sets forth reconciling items as a percentage of total revenue for the periods presented. 1 GAAP gross margin % 61 % 61 % 60 % 60 % Amortization expense - developed technology 3 3 4 3 Amortization expense - other — — — — Stock-based compensation 3 3 2 3 Restructuring charges — — — — Non-GAAP gross margin % 67 % 67 % 66 % 66 % GAAP sales & marketing expense $ 38,446 $ 29,729 $ 100,551 $ 89,487 Amortization expense - customer relationships (2,167 ) (2,736 ) (6,502 ) (7,889 ) Amortization expense - trade name (10,713 ) (107 ) (11,921 ) (254 ) Amortization expense - other — (28 ) — (72 ) Stock-based compensation (4,153 ) (4,394 ) (11,194 ) (12,534 ) Restructuring charges (24 ) — (100 ) — Non-GAAP sales & marketing expense $ 21,389 $ 22,464 $ 70,834 $ 68,738 GAAP research & development expense $ 29,043 $ 33,039 $ 87,127 $ 97,291 Stock-based compensation (4,386 ) (4,208 ) (11,665 ) (13,720 ) Restructuring charges (87 ) — (352 ) — Non-GAAP research & development expense $ 24,570 $ 28,831 $ 75,110 $ 83,571 GAAP general & administrative expense $ 19,334 $ 23,108 $ 59,239 $ 66,046 Stock-based compensation (4,198 ) (5,696 ) (11,136 ) (15,974 ) Acquisition-related expenses (211 ) (3,423 ) (634 ) (9,410 ) Litigation expenses (153 ) (115 ) (4,502 ) (365 ) Restructuring charges (1 ) — (6 ) — Non-GAAP general & administrative expense $ 14,771 $ 13,874 $ 42,961 $ 40,297 GAAP loss from operations $ (12,906 ) $ (824 ) $ (36,327 ) $ (12,393 ) Amortization of intangible assets 16,952 7,357 31,101 21,388 Stock-based compensation 15,823 17,971 41,969 53,015 Acquisition-related expenses 211 3,423 634 9,410 Litigation expenses 153 115 4,502 365 Restructuring charges 150 — 627 — Non-GAAP operating income $ 20,383 $ 28,042 $ 42,506 $ 71,785 The following table sets forth reconciling items as a percentage of total revenue for the periods presented. 1 GAAP operating margin % (11 )% (1 )% (10 )% (3 )% Amortization of intangible assets 14 5 9 5 Stock-based compensation 13 13 12 13 Acquisition-related expenses — 2 — 2 Litigation expenses — — 1 — Restructuring charges — — — — Non-GAAP operating margin % 17 % 20 % 12 % 18 % GAAP net loss attributable to nCino, Inc. $ (16,379 ) $ (5,252 ) $ (43,506 ) $ (19,268 ) Amortization of intangible assets 16,952 7,357 31,101 21,388 Stock-based compensation 15,823 17,971 41,969 53,015 Acquisition-related expenses 211 3,423 634 9,410 Litigation expenses 153 115 4,502 365 Restructuring charges 150 — 627 — Tax benefit related to acquisition — — — (3,609 ) Income tax effect on non-GAAP adjustments (237 ) (451 ) (616 ) (1,244 ) Adjustment attributable to redeemable non-controlling interest (478 ) 1,286 (526 ) 2,205 Non-GAAP net income attributable to nCino, Inc. $ 16,195 $ 24,449 $ 34,185 $ 62,262 Basic and diluted GAAP net loss attributable to nCino, Inc. per share $ (0.15 ) $ (0.05 ) $ (0.39 ) $ (0.17 ) Weighted-average shares used to compute basic and diluted GAAP net loss attributable to nCino, Inc. per share 112,951,553 115,611,833 112,484,017 114,970,622 Basic non-GAAP net income attributable to nCino, Inc. per share $ 0.14 $ 0.21 $ 0.30 $ 0.54 Weighted-average shares used to compute basic non-GAAP net income attributable to nCino, Inc. per share 112,951,553 115,611,833 112,484,017 114,970,622 Diluted non-GAAP net income attributable to nCino, Inc. per share $ 0.14 $ 0.21 $ 0.30 $ 0.53 Weighted-average shares used to compute diluted non-GAAP net income attributable to nCino, Inc. per share 115,261,169 117,416,473 114,636,396 116,913,806 Free cash flow Net cash provided by operating activities $ 5,870 $ 5,777 $ 49,137 $ 65,218 Purchases of property and equipment (619 ) (680 ) (3,083 ) (1,466 ) Free cash flow $ 5,251 $ 5,097 $ 46,054 $ 63,752 Principal payments on financing obligations 2 (324 ) (194 ) (888 ) (916 ) Free cash flow less principal payments on financing obligations $ 4,927 $ 4,903 $ 45,166 $ 62,836 1 Columns may not foot due to rounding. 2 These amounts represent the non-interest component of payments towards financing obligations for facilities. CONTACTS INVESTOR CONTACT Harrison Masters nCino +1 910.734.7743 Harrison.masters@ncino.com MEDIA CONTACT Natalia Moose nCino Natalia.moose@ncino.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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