To The Moon

In the recent earnings call for nCino (NCNO), both positive and negative aspects were discussed. The company showed strong growth in revenues and sales, as well as expansion in international markets. However, there were concerns about the interest rate environment and market conditions.

Here are the specific viewpoints from the earnings call:

Bullish Points:

1. Both total and subscription revenues increased 18%.

2. 10% non-GAAP operating income margin for the quarter.

3. Second quarter sales up 22% year over year.

4. U.S. banking industry has largely stabilized.

5. Over 40% of bank operating system new logo deals in the second quarter included more than one solution.

6. Over 60% of sales were cross-sell and upsells within the installed base.

7. More than 50% of the pipeline is for products other than commercial lending.

8. Solid demand in EMEA and APAC.

9. Continued progress with the nCino Mortgage Suite.

10. Strong pipeline of mortgage deals.

Bearish Points:

1. Churn in Q2 was in line with expectations, but IMB segment of U.S. mortgage customer base continues to navigate the heightened interest rate environment.

2. Churn in line with expectations, but conservative view taken for the second half of the year due to market conditions.

3. Shift in pipeline away from commercial lending.

4. U.S. enterprise segment taking a cautious approach.

5. Rate environment outside of the U.S. still has room to go higher.

6. European banks may react cautiously once peak rate cycle is reached.

7. Greenfield conversations slow down during challenging times.

8. Different maturity of markets and time in market.

For more information about nCino(NCNO)'s earnings call, you can read the relevant news: [nCino (NCNO) Q2 2024 Earnings Call Transcript](https://www.fool.com/earnings/call-transcripts/2023/08/29/ncino-ncno-q2-2024-earnings-call-transcript/)