King Faisal Specialist Hospital and Research Center เฉลิมฉลองสองทศวรรษแห่งความมุ่งมั่นของพนักงานอย่างจริงใจ

ริยาด ซาอุดีอาระเบีย , Nov. 30, 2023 (GLOBE NEWSWIRE) — King Faisal Specialist Hospital and Research Center มีความภาคภูมิใจอย่างยิ่งในการยกย่องในความทุ่มเทอันยอดเยี่ยมของบุคลากรที่หลากหลาย โดยสมาชิกแต่ละคนได้อุทิศเวลาสองทศวรรษให้กับภารกิจอันสูงส่งในการดูแลผู้ป่วย ฯพณฯ Dr. Majid Al‑Fayad ประธานเจ้าหน้าที่บริหาร ได้แสดงความเคารพต่อบุคคลผู้บุกเบิกเหล่านี้เป็นการส่วนตัวในพิธี Pioneers Honoring Ceremony ครั้งที่ 44 ซึ่งจัดขึ้นที่เมืองเจดดาห์และริยาดในวันที่ 20 และ 22 พฤศจิกายนตามลำดับ

เพื่อเป็นการแสดงความขอบคุณสำหรับความมุ่งมั่นอย่างแน่วแน่ในการดูแลสุขภาพ โรงพยาบาลได้รำลึกถึงช่วงเวลาอันมีความหมายในการอุทิศตนเพื่อยกระดับประสบการณ์โดยรวมของผู้ป่วย จุดสูงสุดของความพยายามเหล่านี้ได้ถักทอประสบการณ์และทักษะอันมากมาย ซึ่งก่อให้เกิดรากฐานสำหรับสถานะที่ได้รับการยกย่อง โดย King Faisal Specialist Hospital and Research Center ได้คงสถานะดังกล่าวอยู่ในปัจจุบัน

หัวใจสำคัญของความสำเร็จนี้คือความมุ่งมั่นอย่างแน่วแน่ในการพัฒนาพนักงานและการปลูกฝังวัฒนธรรมองค์กรที่แข็งแกร่ง โรงพยาบาลให้ความสำคัญเป็นพิเศษกับทุนมนุษย์ โดยยอมรับบทบาทสำคัญของบุคลากรในการบรรลุความโดดเด่นระดับโลก ความมุ่งมั่นนี้ได้แสดงออกอย่างชัดเจนผ่านการดำเนินโครงการและบริการที่มีคุณภาพซึ่งมุ่งเป้าไปที่การเสริมสร้างสภาพแวดล้อมการทำงานและเพิ่มประสิทธิภาพการทำงานของพนักงาน

ความสำเร็จของความคิดริเริ่มเหล่านี้สะท้อนให้เห็นได้จากการทำการสำรวจภายใน โดยผู้เข้าร่วม 78% แนะนำสภาพแวดล้อมการทำงาน และ 81% แสดงความพึงพอใจกับบริการของโรงพยาบาล ความทุ่มเทของ King Faisal Specialist Hospital and Research Center ที่มีต่อเจ้าหน้าที่ขององค์กรนั้นได้รับการยกตัวอย่างเพิ่มเติมโดยการจัดตั้งชมรมทางสังคมสำหรับพนักงานเมื่อหลายปีก่อน โครงการริเริ่มนี้ส่งเสริมสภาพแวดล้อมการทำงานเชิงบวก ส่งเสริมการมีปฏิสัมพันธ์ทางสังคม การเติบโตส่วนบุคคล และการมีส่วนร่วมของชุมชน เพื่อให้มั่นใจว่าบุคคลแต่ละคนจะรู้สึกมีคุณค่า เชื่อมต่อกัน และได้รับการสนับสนุน

เพื่อเน้นย้ำถึงความมุ่งมั่นของโรงพยาบาลในการพัฒนาบุคลากรและวิชาชีพอย่างต่อเนื่อง KFSH&RC จึงได้จัดการประชุมเชิงปฏิบัติการ การสัมมนา และการสนทนาที่ครอบคลุมหัวข้อต่าง ๆ อยู่เป็นประจำ เช่น ความเป็นผู้นำ การจัดการเวลา การจัดการความเครียด ความเป็นอยู่ที่ดีทางการเงิน และความก้าวหน้าในอาชีพ โอกาสทางการศึกษาเหล่านี้มีจุดมุ่งหมายเพื่อสนับสนุนการเติบโตที่มีศักยภาพของพนักงานภายในองค์กร

ด้วยความคิดริเริ่มเหล่านี้ King Faisal Specialist Hospital and Research Center จึงมุ่งมั่นที่จะสร้างสภาพแวดล้อมการทำงานที่น่าดึงดูดใจที่ดึงดูดผู้เชี่ยวชาญด้านสุขภาพชั้นนำทั่วโลก ความมุ่งมั่นนี้สอดคล้องกับเป้าหมายเชิงกลยุทธ์ โดยสนับสนุนการเดินทางเกือบห้าทศวรรษขององค์กรเพื่อเป็นผู้นำระดับโลกในการให้บริการการดูแลสุขภาพเฉพาะทางผ่านการวิจัยและนวัตกรรม

ข้อมูลการติดต่อ:
kfshrc@mcsaatchi.com

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GlobeNewswire Distribution ID 8987637

Bahrain unveils its National Energy Strategy and steps up commitment to achieve net zero emissions by 2060

MANAMA, Bahrain, Nov. 30, 2023 (GLOBE NEWSWIRE) — Bahrain today unveiled its National Energy Strategy: a clear, credible, and responsible pathway to reaching the climate targets the Kingdom pledged to achieve at COP26, namely a 30 percent reduction in emissions by 2035 on the road to net-zero emissions by 2060. The Strategy is rooted in the twin objectives of decarbonizing Bahrain’s economy while ensuring reliable and affordable access to the energy the Kingdom needs to sustain and, indeed, accelerate its growth. It is one of 6 priority sector strategies that stem from the Kingdom’s forward-looking Economic Recovery Plan.

Recognizing that there are many ways to approach decarbonization, with some countries focusing on a regulatory approach and others focusing on industry-led initiatives, the Kingdom leveraged its small country advantage to opt for a partnership model. The Strategy is the product of genuine collaboration between government and industry. It did this in an effort to harness the latter’s expertise and know-how to build a comprehensive, cross-sectoral plan that takes full advantage of synergies and opportunities to scale. By working together from the outset, government and industry are taking a coordinated approach to future planning on skills requirements, infrastructure and other issues that will require cooperation.

The Strategy relies on three levers: optimizing energy demand to reduce energy intensity and consumption, diversifying the country’s power mix to include cleaner energy sources, and deploying carbon abatement technologies to decarbonize hard-to-abate sectors. Each lever includes a series of initiatives carefully designed and sequenced to ensure Bahrain maximizes the environmental benefits that accrue as a result of their implementation while minimizing the overall cost of transition. The Kingdom sees economic opportunity in its plan: Bahrain’s size, strategic location, favorable regulatory environment, and agile government, make it uniquely positioned to serve as a regional hub for the development and testing of innovative clean technologies.

Commenting on the National Energy Strategy, His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative of His Majesty the King for Humanitarian Works and Youth Affairs, Chairman of Bapco Energies said: “Under the wise leadership of His Majesty King Hamad bin Isa Al Khalifa, and with the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, the Kingdom of Bahrain is embarking on a transformative journey towards a more sustainable future where energy security evolves as a shared responsibility, nurtured by the innovation of our domestic energy industry. The National Energy Strategy provides a realistic pathway to decarbonizing our national economy in a holistic manner, guiding us in achieving our energy transition goals and fulfilling our Net-Zero national commitments by 2060.”

For more information, please contact the National Communication Centre of the Kingdom of Bahrain on communication@ncc.gov.bh.

GlobeNewswire Distribution ID 8987579

Zymeworks Announces Participation in Upcoming Investor Conference

VANCOUVER, British Columbia, Nov. 30, 2023 (GLOBE NEWSWIRE) — Zymeworks Inc. (Nasdaq: ZYME), a clinical-stage biotechnology company developing novel, multifunctional biotherapeutics, today announced that management will participate in an upcoming investor conference:

  • 42nd Annual J.P. Morgan Healthcare Conference: Zymeworks’ management will participate in one-on-one meetings on January 8-11, 2024 and a corporate presentation on January 11th, 2024 at 8:15 am Pacific Time. The presentation and webcast will be available on Zymeworks’ website at http://ir.zymeworks.com/events-and-presentations.

About Zymeworks Inc.

Zymeworks Inc. (Nasdaq: ZYME) is a global biotechnology company committed to the discovery, development, and commercialization of novel, multifunctional biotherapeutics. Zymeworks’ mission is to make a meaningful difference for people impacted by difficult-to-treat cancers and other serious diseases. Zymeworks’ complementary therapeutic platforms and fully integrated drug development engine provide the flexibility and compatibility to precisely engineer and develop highly differentiated antibody-based therapeutic candidates. Zymeworks engineered and developed zanidatamab, a HER2-targeted bispecific antibody using Zymeworks’ proprietary Azymetric™ technology. Zymeworks has entered into separate agreements with BeiGene, Ltd. (BeiGene) and Jazz Pharmaceuticals Ireland Limited (Jazz), granting each of BeiGene and Jazz with exclusive rights to develop and commercialize zanidatamab in different territories. Zanidatamab is currently being evaluated in global Phase 1, Phase 2, and Phase 3 clinical trials, including certain ongoing pivotal clinical trials as a treatment for patients with HER2-expressing cancers. Zymeworks’ next clinical candidate, zanidatamab zovodotin (ZW49), is a HER2-targeted bispecific antibody-drug conjugate (ADC) developed using Zymeworks’ proprietary Azymetric™ and ZymeLink™ Auristatin technologies. Zanidatamab zovodotin is currently being evaluated in a Phase 1 clinical trial for patients with a variety of HER2-expressing, HER2-amplified or HER2-mutant cancers. Zymeworks is also advancing a deep pipeline of product candidates based on its experience and capabilities in both ADC and multispecific antibodies (MSAT). In addition to Zymeworks’ wholly owned pipeline, its therapeutic platforms have been further leveraged through strategic partnerships with global biopharmaceutical companies. For information about Zymeworks, visit www.zymeworks.com and follow @ZymeworksInc on X.

Contacts:

Investor Inquiries:

Shrinal Inamdar
Director, Investor Relations
(604) 678-1388
ir@zymeworks.com

Media Inquiries:

Diana Papove
Director, Corporate Communications
(604) 678-1388
media@zymeworks.com

GlobeNewswire Distribution ID 8987113

Teledyne’s Contact Image Sensors for high-speed, high-resolution line scan are now in production

Teledyne DALSA AxCIS Contact Image Sensor

The new AxCIS is a high-speed, high-resolution line scan solution for space limited systems

WATERLOO, Ontario, Nov. 30, 2023 (GLOBE NEWSWIRE) — Teledyne DALSA is pleased to announce that its AxCIS™ family of high-speed and high-resolution fully integrated line scan imaging modules are in production. These easy-to-use Contact Image Sensors (CIS) combine sensors, lenses, and lights all-in-one, offering a lower cost inspection system for many demanding machine vision applications.

Powered by Teledyne’s multiline CMOS image sensors, AxCIS delivers superior image quality, up to 120 kHz line rates for mono, or 60 kHz x 2 for HDR imaging, at a pixel size of 28 µm or 900 dpi resolution, so that defects can be detected with unprecedented precision.

Its unique sensor design covers the entire field of view without missing pixels, providing a 100% seamless image without any interpolation. HDR imaging is achieved using dual rows with independent exposure control, which enables better detectability for highly reflective materials with improved dynamic range. In addition to defect detection, its unique design also supports true metrology applications.

AxCIS has been designed with scalability to various fields of view with a single 24V power supply. With a small form factor and an optical path with an IP60 dust proof design, AxCIS can fit almost anywhere in your system, even with limited vertical clearance. Its Camera Link HS SFP+ fibreoptic interface delivers high throughput data over standard low-cost, long-length cables with immunity to EMI radiation for harsh industrial environments.

Please visit the AxCIS product page for more information and for sales enquiries, visit our contact page.

Teledyne DALSA is a part of Teledyne’s Vision Solutions group and a leader in the design, manufacture, and deployment of digital imaging components for machine vision. Teledyne DALSA image sensors, cameras, smart cameras, frame grabbers, software, and vision solutions are at the heart of thousands of inspection systems around the world and across multiple industries. For more information, visit www.teledynedalsa.com/imaging.

Media Contact
Jessica Broom
Jessica.broom@teledyne.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/30f63c2f-758c-4dfc-bace-e1351b500c6f

GlobeNewswire Distribution ID 8985441

Noor Riyadh 2023: The world’s largest annual festival of light and art returns to Saudi Arabia’s Capital, with over 120 artworks by more than 100 local and international artists

  • Noor Riyadh festival runs from November 30 – December 16, 2023, over five hubs across the capital
  • The exhibition ‘Refracted Identities, Shared Futures’ runs concurrently in JAX District from November 30, 2023, to March 2, 2024
  • Noor Riyadh features over 120 innovative artworks by more than 100 artists from 35 countries including: Ahaad Alamoudi, Bruno Ribero, Chris Levine, Diana Thater, Iván Argote, Janet Echelman, Muhannad Shono, Random International, SUPERFLEX and Zahrah Al Ghamdi
Chris Levine, Molecule of Light, 2021. Images courtesy of the artist and HAVAS. Photos © Noor Riyadh 2023, a Riyadh Art Program
Noor Riyadh

Chris Levine, Molecule of Light, 2021. Images courtesy of the artist and HAVAS. Photos © Noor Riyadh 2023, a Riyadh Art Program

RIYADH, Saudi Arabia, Nov. 30, 2023 (GLOBE NEWSWIRE) — Noor Riyadh, the world’s largest light art festival, will return to Saudi Arabia’s capital for its third edition from November 30 to December 16, 2023. More than 120 artworks, large-scale installations and immersive projections will light up the city, bringing art to the people and boosting the creative economy. The event supports the Riyadh Art objective of transforming Riyadh into an awe-inspiring ‘gallery without walls’, engaging diverse audiences, transcending boundaries, and integrating art into the urban fabric.

Presented by Lead Curator Jérôme Sans and Curators Pedro Alonzo, Fahad Bin Naif and Alaa Tarabzouni Noor Riyadh’s 2023 theme ‘The Bright Side of the Desert Moon’ explores light as a unifying force that sustains, comforts and connects us all. Artworks are dispersed across five main hubs and additional locations throughout Riyadh City, with the central hub located at the King Abdullah Financial District (KAFD), complemented by those at JAX District, Salam Park, Wadi Hanifa and Wadi Namar. Across the festival, the luminous city is contrasted against its arid surroundings, like a whirlwind of transformation. While the dazzling light of the desert is compared to the isolation of modern technology, the artworks by artists from 35 countries invite visitors to slow down, transcend time and space and reintegrate.

While sculptor and artist Janet Echelman transforms scientific data into a dynamic visual spectacle, Diana Thater and the collective SUPERFLEX present monumental and immersive video art projections.

In Decimal Clock Carsten Höller uses light to explore the intricate relationship between time and space, creating “the most complicated clock on earth”, which makes visitors lose their bearings. Elsewhere, Ugo Schiavi weaves together time and space, corrupting the distinction between the past and present, sustained by artworks and objects from Riyadh, the desert around the Tuwaiq mountains and other Saudi Arabian locations in The Day the Sand Caught Fire.

Dana-Fiona Armour creates a dystopian landscape with oddly shaped glass sculptures directly inspired by a species of snake native to Saudi Arabia’s deserts, echoing the numerous cosmogonies in which the creature steals the sun or the moon.

A plethora of internationally renowned artists hailing from Saudi Arabia and around the globe reconvene in the capital after their much-acclaimed participation in the past editions of Noor Riyadh, including Bruno Ribero, Christopher Bauder, Chris Levine, DRIFT and Muhannad Shono.

Saudi Artists creating site-specific work

Among the highlights at Noor Riyadh is a number of site-specific commissions by 35 established and emerging Saudi artists. At Wadi Namar, Abdullah Alamoudi’s Look Up and You’ll Find Me uses light as a metaphor for guidance and connection, while Aziz Jamal’s The Whites of Their Eyes employs light to weave together cultural narratives. At Wadi Hanifa, Zahrah Al Ghamdi’s installation explores light as a powerful symbol of life, growth, and transformation. Ayman Yossri Daydban’s Tree House uses cut out wooden forms to respond to perceptions of identity and heritage, while Khaled Makhshoush’s LED billboard juxtaposes nostalgic video game graphics against the natural landscape, a dialogue between the past and present.

Noor Riyadh Exhibition – ‘Refracted Identities, Shared Futures’

Running concurrently to the festival in the JAX District from November 30, 2023 to March 2, 2024, the exhibition ‘Refracted Identities, Shared Futures’, curated by Neville Wakefield and Maya Al Athel, offers a more intimate exploration of the concepts presented at the festival.

Refracted Identities, Shared Futures is a journey that moves through the three spaces of the exhibition: Cosmos, Temporality and Connectivity. Works from over 30 artists from across the globe address mythology, astrophysics, swarm intelligence, and the unique and multifaceted properties of light.

Examples of this include Abdulmohsen Al Bin Ali‘s The Dreamer Dreams, which invites the viewer to explore the interconnected realms of memory and the desert. Talin Hazbar’s Earth Records unearths temporal layers, revealing hidden histories embedded in the very earth beneath our feet, while Shaikha Al Mazrou’s Beyond All Measures layers time in the form of paired horizons in which the oxidization of metals serves to create infinitely slow sunsets. In the closing space of the exhibition, Aidha Badr’s filaments of luminescent threads weave us together, while Ahaad Alamoudi uses light to become a form of social interaction reaching across divides.

The synergy between the Noor Riyadh festival and exhibition is exemplified by artists such as Julian Charrière, Mariko Mori, Monira Al Qadiri, and Random International. Their works featured across both encourage dialogue that connects the grandeur of the festival’s public displays to the exhibition’s introspective and nuanced environment.

Spectacular artist-led presentations

Building on last year’s Guinness World Record-breaking drone performance, DRIFT’s Desert Swarm is set to be a highlight at the festival preview at KAFD, in which the artist presents a spectacular drone performance that uses art to reconnect nature with technology, mimicking the movements of the natural world accompanied by a live piano soundtrack.

Christopher Bauder is set to captivate audiences once again at Noor Riyadh with his latest light piece, DIALOGUE, which uses light and colour to bring a dynamic conversation to life between two of Riyadh’s architectural monuments: the Kingdom Center and Al Faisaliah Towers.

Public Program and Community Engagement

Committed to developing opportunities for the local community, Noor Riyadh 2023 features a robust program of more than 100 workshops, 40 talks and family activities, and over 1,000 guided tours. The event is also deeply engaging with 450 schools and 60 university ambassadors as well as embedding 43 apprentices into the festival teams. Through these efforts, Noor Riyadh is helping to develop the city’s creative economy to enrich lives, ignite creative expression and support diverse local talents.

Noor Riyadh is alive with activities for the community, featuring a unique creative experience called “Create Your Own Lantern”, led by artist Rafael Domenech. Themed guided tours offer deeper insights, while enlightening talks and discussions explore the role of art in the kingdom and its connections with the global art scene. For families, there are frequent engaging activities at various family hubs, including Salam Park. Additionally, emerging artists can benefit from specialized workshops, such as the “Generative Poetry” workshop by Artur Weber, another talented Noor Riyadh artist.

Khaled Al-Hazani, Executive Director of the Riyadh Art, said: “With a stunning selection of artworks and a rich community engagement program, Noor Riyadh 2023 promises to bring us another step closer to Riyadh Art’s ambition of transforming the city into a ‘gallery without walls’. As we celebrate people, places and possibilities, we wish everyone a memorable experience filled with joy and wonder.”

Tickets and attendance at Noor Riyadh

Most of the outdoor citywide artworks for Noor Riyadh are non-ticketed and open to all. However, some events require prior booking. The full program and ticketing details are available on Noor Riyadh’s website: http://noorriyadh.sa

Noor Riyadh 2023 in situ installations imagery is available here: https://rb.gy/hqh0ax

Noor Riyadh 2023 press kit is available here: https://rb.gy/dk7tt

Noor Riyadh 2023 KVs are available here: https://rb.gy/81erry

Noor Riyadh 2023 TVC is available here: https://rb.gy/4w7znr

For more information regarding Riyadh Art and Noor Riyadh contact:

Riyadh Art Media Center: info@riyadhart.sa

Notes to editors

About Noor Riyadh

Noor Riyadh is a citywide annual festival of light and art which launched in March 2021. Noor Riyadh includes a festival and world-class exhibition, along with a public program of community activities, featuring educational workshops, talks and performances. Noor Riyadh is the largest light art festival in the world.

Noor Riyadh combines the highest quality light artworks from leading international and Saudi artists, across the largest city footprint of any light art festival worldwide. Staged under Riyadh Art, the festival aims to nurture local talent and inspire youth to drive Saudi Arabia’s creative economy.

Website: http://noorriyadh.sa
Instagram: @noorriyadhfestival
Twitter: @NoorRiyadhFest
Facebook: @NoorRiyadhFestival

Noor Riyadh is presented by Riyadh Art and the Royal Commission for Riyadh City.

About Riyadh Art

Riyadh, the capital city of Saudi Arabia, is on a 10-year mission to become one of the world’s most livable and competitive cities, a global center which is open for business and that welcomes the world. With a young and rapidly growing population of 7+ million residents, Riyadh is transforming into a vibrant and cosmopolitan metropolis.

Art and culture reflect the spirit of a city. That’s why the Riyadh Art project has been developed to turn the whole capital into a creative canvas – a gallery without walls – to enrich lives, ignite creative expression and kindle the creative economy. Riyadh Art is a demonstration of the open, accessible and creative transformation of the capital, where the exchange of ideas through creative expression develops a deeper sense of mutual understanding and respect.

The Riyadh Art project will have a positive impact on people, bringing everyday moments of joy to residents and visitors alike, while instilling a greater sense of civic pride and creating a more beautiful city for everyone to enjoy. It will also spark the development of the new creative economy and have a positive effect on attracting new businesses to invest in the city.

Website: www.riyadhart.sa
Instagram: @riyadhartofficial
Twitter: @Riyadh_Arts
Facebook: @RiyadhArtOfficial

Noor Riyadh 2023 Partners

Festival Partners: Ministry of Culture, KAFD, JAX District
Official Partners: Kingdom Center, Al Khozama
Media Partner: SRMG
Supporting Partner: Nova Water, Visit Saudi, King Fahad National Library, Digital City, VIA Riyadh
Hospitality Partner: Altanfeethi
Programming Partner: Misk Art Institute

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/77519864-e52c-45d8-8bde-451887fa7142

GlobeNewswire Distribution ID 8987452

Builder.ai Welcomes Peter Sharples as New VP of Revenue and Partnerships for Asia Pacific

Former Amazon Veteran Will Oversee Sales, Partnerships and Go-to-Market For Asia Pac

LONDON, Nov. 30, 2023 (GLOBE NEWSWIRE) — Builder.ai, the AI powered composable software platform that allows every business and entrepreneur to become digitally powered, announced that Peter Sharples, a veteran of Amazon Web Services, Inc. (AWS) has joined the company as their new Vice President of Revenue and Partnerships for Asia Pacific. Sharples brings more than 20-years of sales and partnering experience to Builder.ai and will oversee sales, partnering, and go-to-market functions for the region. He will report to Varghese Cherian, Chief Revenue Officer.

“I’m excited to welcome someone with Peter’s calibre to the team. I’ve had the pleasure of knowing and working with Peter for over two years during our AWS partnership and his deep experience, with over 20 years in sales and partnering, including a transformative seven years at AWS, positions him uniquely for this role,” said Sachin Dev Duggal, Founder & Chief Wizard, Builder.ai. “His leadership and insights will be instrumental in shaping our strategy for the Asia Pacific region.”

Sharples joins Builder.ai after serving over 7-years at AWS in their channel business, holding leadership roles across Asia Pacific and Japan (APJ). His work spans the globe, with teams in Singapore, Seattle. His most recent role was as the Director of Partner Core Asia Pacific and Japan, based in Sydney. Prior to AWS, Sharples led APJ specialist technology functions for CA Technologies, after holding roles in Symantec and Telstra.

“I am thrilled to be joining the leadership team at Builder.ai,” says Sharples. “Having been involved with Builder as a partner I have admired the way Builder.ai has democratized software, the same way AWS democratized infrastructure. AI as a whole (generative and otherwise) is moving out of the novelty phase and developing into serious business applications and Bulder.ai is simply ahead of the curve here. I am excited to bring this next level of innovation to our customers and partners in Asia Pacific and grow the business into new markets.”

Builder has existing teams in India and Singapore and Sharples will be responsible for scaling these businesses as well as establishing partnership opportunities for Builder.ai in the Australia and New Zealand markets.

Duggal added, “Having personally seen his remarkable ability to foster partnerships and drive growth, I am confident that his joining marks a new era of innovation and expansion for us, especially in Australia and New Zealand which are great markets for new tech with a vibrant SMB ecosystems. I am truly excited for the journey ahead as we, together with Peter, continue to redefine the boundaries of AI and software democratization in Asia Pacific.”

Established in 2016, Builder.ai continues to lead the industry with its AI-powered composable software platform that allows anyone with an idea to build an app (web or mobile) – faster and more affordably. By breaking software down into reusable lego-like features, and coupling with state of the Art Artificial Intelligence and Natasha (the world’s first AI product manager) and its patented software assembly line, Builder.ai has been able to demonstrate success globally in allowing customers of all sizes to become software first.

About Builder.ai
Builder.ai® is an AI-powered composable software platform for every idea and company on the planet. The AI-powered assembly line fuses together Lego-like reusable features, using Building Blocks™ automation to reduce human effort, leveraging a verified network of experts to vastly extend development capabilities, and producing apps at almost zero failure rate that are multitudes cheaper and faster than traditional software development.

Led by serial entrepreneur Sachin Dev Duggal, Builder.ai is reshaping how software is built and operated with a suite of products and services, including BUILDER STUDIO, BUILDER CLOUD, BUILDER NOW, STUDIO STORE and STUDIO RAPID. In 2020, Builder.ai landed on the 2023 Fast Company list of Most Innovative Companies, was awarded “Hottest AI Startup” and 2022’s “Hottest Scale-Up” at the Europas for Europe’s successful tech start-ups and Best COVID-19 Innovation-Recovery at CogX and awarded ‘Visionary’ in the 2021 Gartner® Magic Quadrant™ for Multi-experience Development Platforms. Builder.ai is headquartered in London, supported by employees and hubs in Delhi NCR, Singapore, Los Angeles, Salt Lake City, Sophia Antipolis, and Dubai. For more information, visit Builder.ai.

BUILDER.AI and BUILDER are trademarks of Engineer.ai Corp. All other marks are trademarks of their respective owners.

Media Contact:
Stephanie.lowenthal@builder.ai

GlobeNewswire Distribution ID 1000901669

Constellation Brands to Present at the 2023 Morgan Stanley Global Consumer and Retail Conference on December 5, 2023

VICTOR, N.Y., Nov. 29, 2023 (GLOBE NEWSWIRE) — Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announced today that Garth Hankinson, Executive Vice President and Chief Financial Officer, will participate in a fireside chat at the 2023 Morgan Stanley Global Consumer and Retail Conference on Tuesday, December 5, 2023 in New York, NY. The presentation is scheduled to begin at 1:30 p.m. ET and is expected to cover the company’s strategic business initiatives, financial metrics, and operating performance, as well as outlook for the future.

A live, listen-only webcast of the presentation will be available on the company’s investor relations website at ir.cbrands.com under the News & Events section. When the presentation begins, financial information discussed in the presentation, and a reconciliation of reported GAAP financial measures with comparable and other non-GAAP financial measures, will also be available on the company’s investor relations website under the Financial History section. For anyone unable to participate in the webcast, a replay will be available on the company’s investor relations website through the close of business on January 5, 2024.

ABOUT CONSTELLATION BRANDS
Constellation Brands (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy. Our mission is to build brands that people love because we believe elevating human connections is Worth Reaching For. It’s worth our dedication, hard work, and calculated risks to anticipate market trends and deliver more for our consumers, shareholders, employees, and industry. This dedication is what has driven us to become one of the fastest-growing, large CPG companies in the U.S. at retail, and it drives our pursuit to deliver what’s next.

Every day, people reach for our high-end, iconic imported beer brands such as those in the Corona brand family like the flagship Corona Extra, Modelo Especial and the flavorful lineup of Modelo Cheladas, Pacifico, and Victoria; our fine wine and craft spirits brands including The Prisoner Wine Company, Robert Mondavi Winery, Casa Noble Tequila, and High West Whiskey; and our premium wine brands such as Kim Crawford and Meiomi.

As an agriculture-based company, we have a long history of operating sustainably and responsibly. Our ESG strategy is embedded into our business and our work focuses on serving as good stewards of the environment, enhancing social equity within our industry and communities, and promoting responsible beverage alcohol consumption. These commitments ground our aspirations beyond driving the bottom line as we work to create a future that is truly Worth Reaching For.

To learn more, visit www.cbrands.com and follow us on XInstagram, and LinkedIn.

MEDIA CONTACTS INVESTOR RELATIONS CONTACTS
Amy Martin 585-678-7141 / amy.martin@cbrands.com
Carissa Guzski 315-525-7362 / carissa.guzski@cbrands.com
Joseph Suarez 773-551-4397 / joseph.suarez@cbrands.com
Snehal Shah 847-385-4940 / snehal.shah@cbrands.com
David Paccapaniccia 585-282-7227 / david.paccapaniccia@cbrands.com

A downloadable PDF copy of this news release can be found here: http://ml.globenewswire.com/Resource/Download/fb6a31dc-2729-4982-962f-3897dd20df55

GlobeNewswire Distribution ID 8986383

nCino Reports Third Quarter Fiscal Year 2024 Financial Results

  • Total Revenues of $121.9M, up 16% year-over-year
  • Subscription Revenues of $104.8M, up 19% year-over-year
  • GAAP Operating Margin of (11)%, up 700 basis points year-over-year
  • Non-GAAP Operating Margin of 17%, up 1,400 basis points year-over-year

WILMINGTON, N.C., Nov. 29, 2023 (GLOBE NEWSWIRE) — nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced financial results for the third quarter of fiscal year 2024, ended October 31, 2023.

“We posted another solid quarter in Q3, with revenues and profitability again exceeding expectations,” said Pierre Naudé, Chairman and CEO of nCino. “Notably, we added key new customers, such as our first enterprise Consumer ending deal with a $200 billion bank in the U.S., and our largest customer to date in Japan. We are also pleased that our U.S. mortgage business achieved double-digit revenue growth despite generationally-high interest rates.”

Naudé continued, “With years of experience successfully managing through market cycles, our financial strength allows us to continue investing and innovating to expand our market leadership. I am confident nCino has the products, strategy, and team to continue driving sustainable and profitable growth in Q4 and beyond.”

Financial Highlights

  • Revenues: Total revenues for the third quarter of fiscal 2024 were $121.9 million, a 16% increase from $105.3 million in the third quarter of fiscal 2023. Subscription revenues for the third quarter were $104.8 million, up from $88.3 million one year ago, an increase of 19%.
  • Income (Loss) from Operations: GAAP loss from operations in the third quarter of fiscal 2024 was $(12.9) million compared to $(18.4) million in the same quarter of fiscal 2023. Non-GAAP operating income in the third quarter was $20.4 million compared to $2.5 million in the third quarter of fiscal 2023.
  • Net Income (Loss) Attributable to nCino: GAAP net loss attributable to nCino in the third quarter of fiscal 2024 was $(16.4) million compared to $(23.6) million in the third quarter of fiscal 2023. GAAP net loss attributable to nCino in the third quarter of fiscal 2024 includes the impact of accelerated sales and marketing amortization expense of $10.1 million to fully amortize the remaining SimpleNexus trade name intangible asset in connection with rebranding the SimpleNexus solution to nCino Mortgage. Non-GAAP net income attributable to nCino in the third quarter was $16.2 million compared to a $(1.4) million net loss attributable to nCino in the third quarter of fiscal 2023.
  • Net Income (Loss) Attributable to nCino per Share: GAAP net loss attributable to nCino in the third quarter of fiscal 2024 was $(0.15) per basic and diluted share compared to $(0.21) per basic and diluted share in the third quarter of fiscal 2023. GAAP net loss attributable to nCino includes the impact of accelerated sales and marketing amortization expense equivalent to $0.09 per basic and diluted share to fully amortize the remaining SimpleNexus trade name intangible asset in connection with rebranding the SimpleNexus solution to nCino Mortgage. Non-GAAP net income attributable to nCino in the third quarter was $0.14 per diluted share compared to a net loss of $(0.01) per basic and diluted share in the third quarter of fiscal 2023.
  • Remaining Performance Obligation: Total Remaining Performance Obligation (RPO) as of October 31, 2023, was $917.1 million, compared with $919.2 million as of October 31, 2022. RPO expected to be recognized in the next 24 months was $627.6 million, an increase of 4% from October 31, 2022.
  • Cash: Cash, cash equivalents, and restricted cash were $105.8 million as of October 31, 2023.

Recent Business Highlights

  • Signed first enterprise bank for Consumer lending: Added a net-new $200 billion U.S. bank as Company’s largest Consumer lending customer.
  • Signed expansion agreement with a regional bank for Mortgage Point-of-Sale: Signed an over $35 billion-asset bank, representing the largest cross-sell customer to adopt the nCino Mortgage Suite. This customer has now adopted nCino for Commercial, Consumer, and Mortgage lending.
  • Signed largest customer in Japan: Added Yamaguchi Financial Group, an over $150 billion USD asset bank as a net-new customer for Mortgage lending.
  • Completed expansion deal with a top Irish bank: Expanded relationship with an existing account for Corporate and Institutional banking, Small and Medium Enterprise banking, Commercial Pricing & Profitability, ESG, and end-to-end Mortgage origination.

Financial Outlook
nCino is providing guidance for its fourth quarter ending January 31, 2024, as follows:

  • Total revenues between $123.5 million and $125.5 million.
  • Subscription revenues between $105.5 million and $107.5 million.
  • Non-GAAP operating income between $15.0 million and $16.0 million.
  • Non-GAAP net income attributable to nCino per share of $0.11 to $0.13.

nCino is providing guidance for its fiscal year 2024 ending January 31, 2024, as follows:

  • Total revenues between $476.5 million and $478.5 million.
  • Subscription revenues between $407.5 million and $409.5 million.
  • Non-GAAP operating income between $57.5 million and $58.5 million.
  • Non-GAAP net income attributable to nCino per share of $0.40 to $0.42.

Conference Call
nCino will host a conference call at 4:30 p.m. ET today to discuss its financial results and outlook. The conference call will be available via live webcast and replay at the Investor Relations section of nCino’s website: https://investor.ncino.com/news-events/events-and-presentations.

About nCino
nCino (NASDAQ: NCNO) is the worldwide leader in cloud banking. Through its single software-as-a-service (SaaS) platform, nCino helps financial institutions serving corporate and commercial, small business, consumer, and mortgage customers modernize and more effectively onboard clients, make loans, manage the loan lifecycle, and open accounts. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,800 financial services providers globally. For more information, visit www.ncino.com.

Forward-Looking Statements:
This press release contains forward-looking statements about nCino’s financial and operating results, which include statements regarding nCino’s future performance, outlook, guidance, the assumptions underlying those statements, the benefits from the use of nCino’s solutions, our strategies, and general business conditions. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,” “estimates,” “projects,” “may,” “will,” “could,” “might,” or “continues” or similar expressions and the negatives thereof. Any forward-looking statements contained in this press release are based upon nCino’s historical performance and its current plans, estimates, and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may cause these expectations to change and, except as may be required by law, nCino does not undertake any obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially including, but not limited to risks associated with (i) adverse changes in the financial services industry, including as a result of customer consolidation or bank failures; (ii) adverse changes in economic, regulatory, or market conditions, including as a direct or indirect consequence of higher interest rates; (iii) risks associated with the acquisition of SimpleNexus, (iv) breaches in our security measures or unauthorized access to our customers’ or their clients’ data; (v) the accuracy of management’s assumptions and estimates; (vi) our ability to attract new customers and succeed in having current customers expand their use of our solution; (vii) competitive factors, including pricing pressures, consolidation among competitors, entry of new competitors, the launch of new products and marketing initiatives by our competitors, and difficulty securing rights to access or integrate with third party products or data used by our customers; (viii) the rate of adoption of our newer solutions and the results of our efforts to sustain or expand the use and adoption of our more established solutions; (ix) fluctuation of our results of operations, which may make period-to-period comparisons less meaningful; (x) our ability to manage our growth effectively including expanding outside of the United States; (xi) adverse changes in our relationship with Salesforce; (xii) our ability to successfully acquire new companies and/or integrate acquisitions into our existing organization, including SimpleNexus; (xiii) the loss of one or more customers, particularly any of our larger customers, or a reduction in the number of users our customers purchase access and use rights for; (xiv) system unavailability, system performance problems, or loss of data due to disruptions or other problems with our computing infrastructure or the infrastructure we rely on that is operated by third parties; (xv) our ability to maintain our corporate culture and attract and retain highly skilled employees; and (xvi) the outcome and impact of legal proceedings and related fees and expenses.

Additional risks and uncertainties that could affect nCino’s business and financial results are included in our reports filed with the U.S. Securities and Exchange Commission (available on our web site at www.ncino.com or the SEC’s web site at www.sec.gov). Further information on potential risks that could affect actual results will be included in other filings nCino makes with the SEC from time to time.

nCino, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
January 31, 2023 October 31, 2023
Assets
Current assets
Cash and cash equivalents $ 82,036 $ 100,475
Accounts receivable, net 99,497 62,012
Costs capitalized to obtain revenue contracts, current portion, net 9,386 9,715
Prepaid expenses and other current assets 16,274 18,670
Total current assets 207,193 190,872
Property and equipment, net 84,442 80,557
Operating lease right-of-use assets, net 10,508 8,855
Costs capitalized to obtain revenue contracts, noncurrent, net 18,229 16,293
Goodwill 839,440 838,585
Intangible assets, net 152,825 121,695
Investments 6,531 9,031
Long-term prepaid expenses and other assets 8,101 1,656
Total assets $ 1,327,269 $ 1,267,544
Liabilities, redeemable non-controlling interest, and stockholders’ equity
Current liabilities
Accounts payable $ 11,878 $ 12,526
Accrued compensation and benefits 22,623 13,748
Accrued expenses and other current liabilities 10,897 11,439
Deferred revenue 154,871 130,308
Financing obligations, current portion 1,015 1,429
Operating lease liabilities, current portion 3,874 3,523
Total current liabilities 205,158 172,973
Operating lease liabilities, noncurrent 7,282 6,460
Deferred income taxes, noncurrent 2,797 3,241
Revolving credit facility, noncurrent 30,000
Financing obligations, noncurrent 54,365 53,063
Total liabilities 299,602 235,737
Commitments and contingencies
Redeemable non-controlling interest 3,589 3,198
Stockholders’ equity
Common stock 56 57
Additional paid-in capital 1,333,669 1,382,019
Accumulated other comprehensive income 694 906
Accumulated deficit (310,341 ) (354,373 )
Total stockholders’ equity 1,024,078 1,028,609
Total liabilities, redeemable non-controlling interest, and stockholders’ equity $ 1,327,269 $ 1,267,544
nCino, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended October 31, Nine Months Ended October 31,
2022 2023 2022 2023
Revenues
Subscription $ 88,290 $ 104,759 $ 251,924 $ 301,996
Professional services and other 17,006 17,183 47,210 50,854
Total revenues 105,296 121,942 299,134 352,850
Cost of revenues
Subscription 26,844 30,605 78,499 89,481
Professional services and other 16,312 17,420 46,180 52,779
Total cost of revenues 43,156 48,025 124,679 142,260
Gross profit 62,140 73,917 174,455 210,590
    Gross margin % 59 % 61 % 58 % 60 %
Operating expenses
Sales and marketing 32,423 38,446 94,274 100,551
Research and development 29,471 29,043 88,287 87,127
General and administrative 18,690 19,334 62,575 59,239
Total operating expenses 80,584 86,823 245,136 246,917
Loss from operations (18,444 ) (12,906 ) (70,681 ) (36,327 )
Non-operating income (expense)
Interest income 87 685 115 2,057
Interest expense (580 ) (854 ) (1,849 ) (3,277 )
Other expense, net (2,911 ) (2,320 ) (5,498 ) (2,633 )
Loss before income taxes (21,848 ) (15,395 ) (77,913 ) (40,180 )
Income tax provision 797 1,782 2,159 4,720
Net loss (22,645 ) (17,177 ) (80,072 ) (44,900 )
Net loss attributable to redeemable non-controlling interest (257 ) (320 ) (908 ) (868 )
Adjustment attributable to redeemable non-controlling interest 1,191 (478 ) 2,348 (526 )
Net loss attributable to nCino, Inc. $ (23,579 ) $ (16,379 ) $ (81,512 ) $ (43,506 )
Net loss per share attributable to nCino, Inc.:
Basic and diluted $ (0.21 ) $ (0.15 ) $ (0.74 ) $ (0.39 )
Weighted average number of common shares outstanding:
Basic and diluted 110,897,811 112,951,553 110,434,171 112,484,017
nCino, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended October 31,
2022 2023
Cash flows from operating activities
Net loss attributable to nCino, Inc. $ (81,512 ) $ (43,506 )
Net loss and adjustment attributable to redeemable non-controlling interest 1,440 (1,394 )
Net loss (80,072 ) (44,900 )
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization 25,458 37,337
Non-cash operating lease costs 2,879 3,581
Amortization of costs capitalized to obtain revenue contracts 6,160 7,368
Amortization of debt issuance costs 131 138
Stock-based compensation 38,476 41,969
Deferred income taxes 452 881
Provision for bad debt 323 1,124
Net foreign currency losses 5,608 2,275
Loss on disposal of long-lived assets 161
Change in operating assets and liabilities:
Accounts receivable 32,497 35,455
Costs capitalized to obtain revenue contracts (8,033 ) (5,959 )
Prepaid expenses and other assets (446 ) 3,374
Accounts payable (1,732 ) 1,184
Accrued expenses and other current liabilities (9,182 ) (7,999 )
Deferred revenue (2,883 ) (23,789 )
Operating lease liabilities (2,997 ) (3,063 )
Net cash provided by operating activities 6,639 49,137
Cash flows from investing activities
Acquisition of business, net of cash acquired 676
Acquisition of assets (563 ) (356 )
Purchases of property and equipment (13,889 ) (3,083 )
Purchase of investment (2,500 )
Net cash used in investing activities (13,776 ) (5,939 )
Cash flows from financing activities
Investment from redeemable non-controlling interest 983
Proceeds from borrowings on revolving credit facility 50,000
Payments on revolving credit facility (20,000 ) (30,000 )
Payments of debt issuance costs (367 )
Exercise of stock options 3,038 3,176
Stock issuance under the employee stock purchase plan 2,424 2,698
Principal payments on financing obligations (458 ) (888 )
Net cash provided by (used in) financing activities 34,637 (24,031 )
Effect of foreign currency exchange rate changes on cash, cash equivalents, and restricted cash (4,098 ) (762 )
Net increase in cash, cash equivalents, and restricted cash 23,402 18,405
Cash, cash equivalents, and restricted cash, beginning of period 88,399 87,418
Cash, cash equivalents, and restricted cash, end of period $ 111,801 $ 105,823
Reconciliation of cash, cash equivalents, and restricted cash, end of period:
Cash and cash equivalents $ 106,451 $ 100,475
Restricted cash included in prepaid expenses and other current assets 5,000
Restricted cash included in other long-term assets 5,350 348
Total cash, cash equivalents, and restricted cash, end of period $ 111,801 $ 105,823

Non-GAAP Financial Measures
In nCino’s public disclosures, nCino has provided non-GAAP measures, which are measurements of financial performance that have not been prepared in accordance with generally accepted accounting principles in the United States, or GAAP. In addition to its GAAP measures, nCino uses these non-GAAP financial measures internally for budgeting and resource allocation purposes and in analyzing our financial results. For the reasons set forth below, nCino believes that excluding the following items provides information that is helpful in understanding our operating results, evaluating our future prospects, comparing our financial results across accounting periods, and comparing our financial results to our peers, many of which provide similar non-GAAP financial measures.

  • Amortization of Purchased Intangibles. nCino incurs amortization expense for purchased intangible assets in connection with certain mergers and acquisitions. Because these costs have already been incurred, cannot be recovered, are non-cash, and are affected by the inherent subjective nature of purchase price allocations, nCino excludes these expenses for our internal management reporting processes. nCino’s management also finds it useful to exclude these charges when assessing the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Although nCino excludes amortization expense for purchased intangibles from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation.
  • Stock-Based Compensation Expenses. nCino excludes stock-based compensation expenses primarily because they are non-cash expenses that nCino excludes from our internal management reporting processes. nCino’s management also finds it useful to exclude these expenses when they assess the appropriate level of various operating expenses and resource allocations when budgeting, planning and forecasting future periods. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use, nCino believes excluding stock-based compensation expenses allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies.
  • Acquisition-Related Expenses. nCino excludes expenses related to acquisitions as they limit comparability of operating results with prior periods. We believe these costs are non-recurring in nature and outside the ordinary course of business.
  • Litigation Expenses. nCino excludes fees and expenses related to litigation expenses incurred from legal matters outside the ordinary course of our business as we believe their exclusion from non-GAAP operating expenses will facilitate a more meaningful explanation of operating results and comparisons with prior period results.
  • Restructuring Costs. nCino excludes costs incurred related to bespoke restructuring plans and other one-time costs that are fundamentally different in strategic nature and frequency from ongoing initiatives. We believe excluding these costs facilitates a more consistent comparison of operating performance over time.
  • Income Tax Effect on Non-GAAP Adjustments. The income tax effects are related to the imputed tax impact on the difference between GAAP and non-GAAP costs and expenses.
  • Adjustment to Redeemable Non-Controlling Interest. nCino adjusts the value of redeemable non-controlling interest of its joint venture nCino K.K. in accordance with the operating agreement for that entity. nCino believes investors benefit from an understanding of the company’s operating results absent the effect of this adjustment, and for comparability, has reconciled this adjustment for previously reported non-GAAP results.

There are limitations to using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures provided by other companies. The non-GAAP financial measures are limited in value because they exclude certain items that may have a material impact upon our reported financial results. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by nCino’s management about which items are adjusted to calculate its non-GAAP financial measures. nCino compensates for these limitations by analyzing current and future results on a GAAP basis as well as a non-GAAP basis and also by providing GAAP measures in its public disclosures. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. nCino encourages investors and others to review our financial information in its entirety, not to rely on any single financial measure to evaluate our business, and to view our non-GAAP financial measures in conjunction with the most directly comparable GAAP financial measures. A reconciliation of GAAP to the non-GAAP financial measures has been provided in the tables below.

nCino, Inc.
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended October 31, Nine Months Ended October 31,
2022 2023 2022 2023
GAAP total revenues $ 105,296 $ 121,942 $ 299,134 $ 352,850
GAAP cost of subscription revenues $ 26,844 $ 30,605 $ 78,499 $ 89,481
Amortization expense – developed technology (4,249 ) (3,990 ) (12,767 ) (12,431 )
Stock-based compensation (392 ) (515 ) (1,120 ) (1,314 )
Restructuring charges (12 ) (51 )
Non-GAAP cost of subscription revenues $ 22,203 $ 26,088 $ 64,612 $ 75,685
GAAP cost of professional services and other revenues $ 16,312 $ 17,420 $ 46,180 $ 52,779
Amortization expense – other (47 ) (82 ) (47 ) (247 )
Stock-based compensation (1,778 ) (2,571 ) (5,564 ) (6,660 )
Restructuring charges (26 ) (118 )
Non-GAAP cost of professional services and other revenues $ 14,487 $ 14,741 $ 40,569 $ 45,754
GAAP gross profit $ 62,140 $ 73,917 $ 174,455 $ 210,590
Amortization expense – developed technology 4,249 3,990 12,767 12,431
Amortization expense – other 47 82 47 247
Stock-based compensation 2,170 3,086 6,684 7,974
Restructuring charges 38 169
Non-GAAP gross profit $ 68,606 $ 81,113 $ 193,953 $ 231,411
The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1
GAAP gross margin % 59 % 61 % 58 % 60 %
Amortization expense – developed technology 4 3 4 4
Amortization expense – other
Stock-based compensation 2 3 2 2
Restructuring charges
Non-GAAP gross margin % 65 % 67 % 65 % 66 %
GAAP sales & marketing expense $ 32,423 $ 38,446 $ 94,274 $ 100,551
Amortization expense – customer relationships (2,167 ) (2,167 ) (6,502 ) (6,502 )
Amortization expense – trade name (605 ) (10,713 ) (1,813 ) (11,921 )
Stock-based compensation (3,326 ) (4,153 ) (10,144 ) (11,194 )
Restructuring charges (24 ) (100 )
Non-GAAP sales & marketing expense $ 26,325 $ 21,389 $ 75,815 $ 70,834
GAAP research & development expense $ 29,471 $ 29,043 $ 88,287 $ 87,127
Stock-based compensation (3,012 ) (4,386 ) (8,457 ) (11,665 )
Restructuring charges (87 ) (352 )
Non-GAAP research & development expense $ 26,459 $ 24,570 $ 79,830 $ 75,110
GAAP general & administrative expense $ 18,690 $ 19,334 $ 62,575 $ 59,239
Stock-based compensation (3,997 ) (4,198 ) (13,191 ) (11,136 )
Acquisition-related expenses (186 ) (211 ) (2,070 ) (634 )
Litigation expenses (1,225 ) (153 ) (5,093 ) (4,502 )
Restructuring charges (1 ) (6 )
Non-GAAP general & administrative expense $ 13,282 $ 14,771 $ 42,221 $ 42,961
GAAP loss from operations $ (18,444 ) $ (12,906 ) $ (70,681 ) $ (36,327 )
Amortization of intangible assets 7,068 16,952 21,129 31,101
Stock-based compensation 12,505 15,823 38,476 41,969
Acquisition-related expenses 186 211 2,070 634
Litigation expenses 1,225 153 5,093 4,502
Restructuring charges 150 627
Non-GAAP operating income (loss) $ 2,540 $ 20,383 $ (3,913 ) $ 42,506
The following table sets forth reconciling items as a percentage of total revenue for the periods presented.1
GAAP operating margin % (18 )% (11 )% (24 )% (10 )%
Amortization of intangible assets 7 14 7 9
Stock-based compensation 12 13 13 12
Acquisition-related expenses 1
Litigation expenses 1 2 1
Restructuring charges
Non-GAAP operating margin % 2 % 17 % (1 )% 12 %
GAAP net loss attributable to nCino $ (23,579 ) $ (16,379 ) $ (81,512 ) $ (43,506 )
Amortization of intangible assets 7,068 16,952 21,129 31,101
Stock-based compensation 12,505 15,823 38,476 41,969
Acquisition-related expenses 186 211 2,070 634
Litigation expenses 1,225 153 5,093 4,502
Restructuring charges 150 627
Income tax effect on non-GAAP adjustments (3 ) (237 ) (9 ) (616 )
Adjustment attributable to redeemable non-controlling interest 1,191 (478 ) 2,348 (526 )
Non-GAAP net income (loss) attributable to nCino $ (1,407 ) $ 16,195 $ (12,405 ) $ 34,185
Basic and diluted GAAP net loss attributable to nCino, Inc. per share $ (0.21 ) $ (0.15 ) $ (0.74 ) $ (0.39 )
Weighted-average shares used to compute basic and diluted GAAP net loss attributable to nCino, Inc. per share 110,897,811 112,951,553 110,434,171 112,484,017
Basic non-GAAP net income (loss) attributable to nCino, Inc. per share $ (0.01 ) $ 0.14 $ (0.11 ) $ 0.30
Weighted-average shares used to compute basic non-GAAP net income (loss) attributable to nCino, Inc. per share 110,897,811 112,951,553 110,434,171 112,484,017
Diluted non-GAAP net income (loss) attributable to nCino, Inc. per share $ (0.01 ) $ 0.14 $ (0.11 ) $ 0.30
Weighted-average shares used to compute diluted non-GAAP net income (loss) attributable to nCino, Inc. per share 110,897,811 115,261,169 110,434,171 114,636,396
Free cash flow
Net cash provided by (used in) operating activities $ (4,080 ) $ 5,870 $ 6,639 $ 49,137
Purchases of property and equipment (4,586 ) (619 ) (13,889 ) (3,083 )
Free cash flow $ (8,666 ) $ 5,251 $ (7,250 ) $ 46,054
Principal payments on financing obligations2 (155 ) (324 ) (458 ) (888 )
Free cash flow less principal payments on financing obligations $ (8,821 ) $ 4,927 $ (7,708 ) $ 45,166

1Columns may not foot due to rounding.
2These amounts represent the non-interest component of payments towards financing obligations for facilities.

CONTACTS

INVESTOR CONTACT
Harrison Masters
nCino
+1 910.734.7743
Harrison.masters@ncino.com

MEDIA CONTACT
Natalia Moose
nCino
Natalia.moose@ncino.com

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