nCino, Inc. (NASDAQ:NCNO) Q1 2024 Earnings Conference Call May 31, 2023 4:30 PM ET
Company Participants
Harrison Masters - Investor Relations
Pierre Naude - Chairman, Chief Executive Officer
Greg Orenstein - Chief Financial Officer
Josh Glover - President, Chief Revenue Officer
Conference Call Participants
Charles Nabhan - Stephens
Nick Altmann - Scotiabank
Terry Tillman - Truist Securities
James Faucette - Morgan Stanley
Robert Napoli - William Blair
Kenneth Suchoski - Autonomous Research
Jackson Ader - SVB MoffetNathanson
Josh Beck - KeyBanc
Operator
Good day, and thank you for standing by. Welcome to nCino First Quarter Fiscal Year 2024 Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to introduce your host for today's call, Harrison Masters, Director of Investor Relations and Strategic Finance.
Harrison Masters
Good afternoon, and welcome to nCino's first quarter fiscal 2024 earnings call. With me on today's call are Pierre Naude, nCino's Chairman and Chief Executive Officer; Greg Orenstein, Chief Financial Officer; and Josh Glover, President and Chief Revenue Officer.
During the course of this conference call, we will make forward-looking statements regarding trends, strategies and the anticipated performance of our business. These forward-looking statements are based on management's current views and expectations, entails certain assumptions made as of today's date, and are subject to various risks and uncertainties described in our SEC filings and other publicly available documents, the financial services industry and global economic conditions. nCino disclaims any obligation to update or revise any forward-looking statements.
Further, on today's call, we will also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. A reconciliation to comparable GAAP metrics can be found in today's earnings release, which is available on our website, and as an exhibit to the Form 8-K furnished with the SEC just before this call, as well as the earnings presentation, on our Investor Relations website at investor.ncino.com.
With that, I will now turn the call over to Pierre.
Pierre Naude
Thank you, Harrison. Good afternoon, and thank you all for joining us today. We are pleased to share the details and accomplishments of our first quarter, including our continued focus on profitable growth, resulting in a 10% non-GAAP operating margin, as well as $29.7 million of free cash flow.
Total revenues grew 21% in the quarter, exceeding the top end of our guidance. We also experienced record attendance at our sold-out user conference, nSight, a few weeks ago, with attendees representing 15 countries, 320 financial institutions and 29 sponsoring partners. This year, we moved the conference to Charlotte, North Carolina, to accommodate the over 1,700 attendees from around the globe who came to network with their peers, share best practices, discuss the future of banking and see the latest nCino innovations.