nCino Expands Buyback as AI Demand Supports Growth

nCino reported higher revenue and profitability for its fiscal second quarter while authorizing another $100 million for share repurchases, as the banking software provider pointed to growing customer commitments to its artificial intelligence capabilities. According to FinTech Global, nCino’s total revenue for the three months ended July 31 rose 8% from a year earlier to $161 million. Subscription revenue increased 10% to $143.5 million.