Investing.com – nCino stock (NASDAQ:NCNO) climbed 18% Thursday as the company posted record sales in the second quarter and revised its guidance again.
The company said would supply Wells Fargo’s commercial lending operations with its cloud solutions.
Total revenue rose 36% year-over-year to $66.5 million as the company secured more clients.
The company now expects its annual revenue between $263 million and $264 million, up from the $258 million to $260 million estimate it gave in June. At the top end of $264 million, the company is forecasting a 62% jump year-on-year.
In its original forecast given in March, annual revenue was seen between $253 million and $255 million.
A net loss per share doubled to 2 cents but was still ahead of expectations for a per share loss of 5 cents.