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nCino S-1

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Re: nCino S-1

#81

Post by amcoastal »

deepGem wrote: post #68
KKKKkkkk1 wrote: post #64

There's some discussion in this thread about the less-sexy corners of the market that are getting eaten by software. What I'm wondering about is whether these corners yield the incredible levels of profitability that we've seen in the past from the tech industry. In other words, with something like Facebook, once the basic product was operational, every additional million of users came with negligible acquisition cos…

I doubt it. If you look at nCino S1, their professional services revenues are not growing as much as their subscription revenues. PS revenues: 2018 20,094 2019 27,076 ~35% 2020 34,915 ~27% While subscription revenues almost double every year since 2018. This is also highlighted in their risk factors. What this indicates is that the deployment of such software still needs significant human touch. Based on the services…

I was dating someone who worked at nCino as a support engineer, they absolutely are keeping most of their customer base by just providing tech support help to the managers at the banks that have problems clicking shortcuts. It's not too unsimilar to a company like ESRI, except their product is built on Salesforce and not nearly as widely needed as Arc.

Re: nCino S-1

#82

Post by fonix »

anonu wrote: post #16

A $billion+ fintech unicorn nobody has ever heard of. This just reminds me that opportunities abound, especially to focus on particular workflows that are sometimes buried in the b2b world...

in fintech at a diff public company, but we as a company have worked with ncino and have many clients who use them, it's not a nobody

Re: nCino S-1

#83

Post by [deleted] »

KKKKkkkk1 wrote: post #64

There's some discussion in this thread about the less-sexy corners of the market that are getting eaten by software. What I'm wondering about is whether these corners yield the incredible levels of profitability that we've seen in the past from the tech industry. In other words, with something like Facebook, once the basic product was operational, every additional million of users came with negligible acquisition cos…

[deleted]

Re: nCino S-1

#84

Post by saastistics »

KKKKkkkk1 wrote: post #64

There's some discussion in this thread about the less-sexy corners of the market that are getting eaten by software. What I'm wondering about is whether these corners yield the incredible levels of profitability that we've seen in the past from the tech industry. In other words, with something like Facebook, once the basic product was operational, every additional million of users came with negligible acquisition cos…

Also something to keep in mind is this is selling to large financial institutions, not small businesses. They have 290 customers, who each pay pay ~$480K/year on average in subscription revenue. nCino doesn't need millions of customers, so its sales and support model is built to attract and retain a relatively small number of customers. It's common with large enterprises to see a decent amount of professional services revenue because keeping your existing customers happy is paramount, since churn matters a lot more at these contract values and customer acquisition is a longer process that goes through procurement, bureaucratic red tape, longer implementation, etc.

Re: nCino S-1

#85

Post by holler »

mdszy wrote: post #80
holler wrote: post #55

Earlier quoted context omitted.

so, should I buy?

Imagine asking random commenters on "hacker" "news" for investment advice. How much have you consistently lost with this strategy?

Is humor not allowed on HN?

Re: nCino S-1

#86

Post by sk0g »

holler wrote: post #85
mdszy wrote: post #80

Earlier quoted context omitted.

Imagine asking random commenters on "hacker" "news" for investment advice. How much have you consistently lost with this strategy?

Is humor not allowed on HN?

When interspersed within an insightful comment, it's encouraged, even. On its own... Well, it won't get you banned, but not everyone will be impressed.

Re: nCino S-1

#88

Post by fragmede »

jonahbenton wrote: post #40
rexreed wrote: post #15

Can someone explain to me why this is important? Not trolling, I'm serious.

Banks were one of the first businesses to digitize. Big banks in the 1950s. Small banks in the 1980s. Many remain stuck on the technology of their specific era of digitization. nCino is one of a relatively small number of players turning the complex process of operating a certain kind of bank- of which there are thousands in the US- into turning the crank on a SAAS-delivered machine. With a new platform come capabili…

If you've heard the need for Cobol programmers, often times it's for banks. When they digitized circa 1960 with the original computers, IBM mainframes, they operated using batch computing, which is why, even now, bank websites sometimes have hours of operation. Moving away from mainframes and modernizing that stack is, quite apparently, a lucrative business - if you don't mind working with bankers. There is an intentionally onerous amount of regulation in that industry that things operate under, most of it not relating to tech, but the tech does need to work under it.

Re: nCino S-1

#89

Post by [deleted] »

btown wrote: post #61
cprayingmantis wrote: post #39

Hey this is where I’ve worked for the last 4 years. Hands down the best company I’ve ever worked for.

I can imagine that intense financial client needs (not to mention working with the confines of SFDC) could easily give this type of company a much less positive culture. Are there specific things leadership have done culture-wise that have made it such a positive place?

[deleted]

Re: nCino S-1

#90

Post by SkyMarshal »

staysaasy wrote: post #66

As an enterprise SaaS person, you really love to see it. I spend a good amount of time in the enterprise b2b world, and I had literally never heard of them. Boring businesses kick ass. My only disappointment: they have a fancy name. Always love it when under-the-radar enterprise companies have ultra boring names, there was a missed opportunity here to call themselves "eBank Technologies" or "Transfer Networks" or som…

I'm fairly convinced that names don't matter. In most cases, companies make the name with quality, consistent execution and success (or imploding failure, as with WeWork). Names don't make the company.
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