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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently nCino operates and where it’s focusing its spending to drive growth.R&D and sales & marketing have been the clear strategic levers—R&D climbed to support AI, the Agentic OS and IU work, while S&M stays elevated to commercialize new pricing and international expansion—whereas G&A volatility and a recent pullback have materially aided margin expansion and free cash flow. Management’s Q1 beat leaned on some expense timing, but rising AI usage and third‑party LLM costs (and still‑early IU monetization) are the main risks that could reverse the efficiency gains if compute or go‑to‑market spending reaccelerates.
Date | Sales and Marketing | Research and Development | General and Administrative |
|---|---|---|---|
Jun 30, 2026 | $36.95M | $31.03M | $19.18M |
Mar 31, 2026 | $33.73M | $28.86M | $17.23M |
Dec 31, 2025 | $33.22M | $29.98M | $25.90M |
Sep 30, 2025 | $33.11M | $29.54M | $19.32M |
Jun 30, 2025 | $37.27M | $34.67M | $25.49M |
Mar 31, 2025 | $32.97M | $33.34M | $21.64M |
Dec 31, 2024 | $33.74M | $32.13M | $24.22M |
Sep 30, 2024 | $29.73M | $33.04M | $23.11M |
Jun 30, 2024 | $31.71M | $34.27M | $20.39M |
Mar 31, 2024 | $28.05M | $29.98M | $22.54M |