nCino Inc Q1 2024 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nicholas William Altmann - Scotiabank Global Banking and Markets, Research Division - Analyst : Awesome. Pierre, you talked about how some of these larger deals in the pipeline remain intact, but you also kind of called out the Enterprise segment as being a little bit more challenged and maybe seeing a little bit incremental weakness in the quarter. So I guess my first question is just, what are sort of these larger enterprise-level financial institutions telling you from a buying propensity perspective? Are they telling you sort of wait for the second half? Is it initiatives are just shelved in the interim? Just sort of any incremental color you can kind of provide for us around what the customers are exactly telling you about getting some of these larger initiatives across the line.

Question: Nicholas William Altmann - Scotiabank Global Banking and Markets, Research Division - Analyst : Great. And then just as a follow-up and going off that comment, understand the bookings and revenue ramp dynamics that you guys have in the model. But can you maybe and maybe not provide a growth framework for next year, but just understanding there's sort of this lag of when you book a deal to when the revenue is sort of ramped, and you guys recognize it? If some of these larger deals sort of come in into 3Q and 4Q, will that not necessarily be recognized in the revenue next year? And if that's the case, what are you guys sort of doing in the interim? or what are sort of the REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 31, 2023 / 8:30PM, NCNO.OQ - Q1 2024 nCino Inc Earnings Call remedies to sort of protect revenue growth next year as you think about some of these larger deals that have multiyear ramps are a little bit more challenged? Is it upselling back into the installed base? Is it nIQ? Just sort of any incremental color you can give around how you're thinking about revenue growth for next year given the bookings dynamics for this year?