In notifying shareholders of its upcoming June 18 annual meeting, the company detailed $49.8M in restricted stock awards granted to 5 top executives over the past 3 years
In a flurry of activity, the cloud banking solutions provider appointed Sean Desmond as CEO while granting a big shareholder, HMI Capital Management, a seat on its expanded board of directors
By adding new customers and selling additional services to existing clients, nCino grew revenue by 14% from a year ago, to $138.8M, helping the company slash its Q3 net loss to $5.3M
Shares in the cloud banking solutions developer are down 14% after it says that mortgage tech business acquired for nearly $1B has been a drag on growth but is expected to pick up
Since acquiring SimpleNexus for $933.6M and rebranding the company, nCino has been signing new clients and cross-selling its mortgage solution to existing bank and credit union clients
Deal provides cloud banking solutions provider nCino with an entry point into the $4B US point-of-sale mortgage market