nCino is a leading global provider of cloud-based software for financial institutions. nCino empowers banks and credit unions with the technology they need to meet ever-changing client expectations and regulatory requirements, gain increased visibility into their operations and performance, replace legacy systems, and operate digitally and more competitively. Their solution, the nCino Bank Operating System, digitizes, automates and streamlines inefficient and complex processes and workflow, and utilizes data analytics and artificial intelligence and machine learning (“AI/ML”) to enable financial institutions to more effectively onboard new clients, make loans and manage the entire loan life cycle, open deposit and other accounts and manage regulatory compliance. They serve financial institution customers of all sizes and complexities, including global financial institutions, enterprise banks, regional banks, community banks, credit unions and new market entrants, such as challenger banks. nCino customers deploy and utilize our digital platform, which can be accessed anytime, anywhere and from any internet-enabled device, for mission critical functions across their organizations.
nCino IPO Details:
IPO Price Range: $26-$28 (Company says $24 but this will rise)
Float Shares: 8,768,750 Million after underwriters purchase 1.15 million shares
Total Shares Outstanding: 89,208,127 shares (or 90,351,877 shares if the underwriters exercise)
2019 Sales vs 2018 Sales: 91.5 Million vs 58.14 Million
Projected 2020 Sales: 138.2 Million
Based on the details above, nCino (NCNO) is growing fast and there is a limited supply of stock hitting the market. I will be looking to buy for a trade when it first opens.
