secwatch.observer — SEC 8-K summary
======================================

Issuer:     nCino, Inc. (NCNO)
CIK:        0001902733
Form:       8-K
Filed at:   2023-01-18T23:59:59+00:00
Accession:  0001902733-23-000003
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

nCino names Greg Orenstein CFO, cuts 7% of workforce, reaffirms Q4/FY23 guidance
--------------------------------------------------------------------------------

- Greg Orenstein promoted from Chief Corporate Development & Strategy Officer to CFO; David Rudow terminated without cause effective Jan 31, 2023.
- Workforce reduction of ~7% and office space reductions; expects $4.5-5.0M charge in Q4 FY2023.
- Reaffirms Q4 FY2023 guidance: total rev $104-105M, subscription rev $90-91M, non-GAAP op loss ($3.0-4.0M), non-GAAP EPS ($0.04-0.05).
- Reaffirms FY2023 guidance: total rev $403-404M, subscription rev $342-343M, non-GAAP op loss ($7.0-8.0M), non-GAAP EPS ($0.15-0.17).
- Cash payments for severance and lease exit fees expected in Q1 FY2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1902733/000190273323000003/0001902733-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1902733/000190273323000003/ncno-20230117.htm
  HTML page:      https://secwatch.observer/filing/0001902733-23-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer