nCino (NCNO) announced a workforce reduction of approximately 7% and office space reductions in certain markets “in furtherance of its efforts to improve operational efficiencies.” Communications to impacted employees and actions associated with the office space reductions will be substantially completed by the end of its fiscal Q2. The company expects to incur charges in Q2 of $7.5M to $9.0M. The company intends to exclude these charges from its non-GAAP financial measures.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NCNO:
- nCino Announces Workforce and Office Space Reductions
- NCNO Upcoming Earnings Report: What to Expect?
- nCino price target raised to $27 from $23 at Morgan Stanley
- Cautious Optimism for nCino: Hold Rating Amid Growth Potential and Market Penetration Challenges
- nCino price target raised to $28 from $26 at BofA
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue