nCino, Inc.

Good day and thank you for standing by. Welcome to the Encino second quarter fiscal year 2026 financial results conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question and answer session. To ask a question, please press star 1 1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1 1 again. I would now like to hand the conference over to your speaker today, Harrison Masters, Vice President, Investor Relations.

Good afternoon, and welcome to Encino's second quarter fiscal 2026 earnings call. With me on today's call are Sean Desmond, Encino's Chief Executive Officer, and Greg Ornstein, Encino's Chief Financial 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, entail 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. Encino 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 8K furnished with the SEC just before this call, as well as the earnings presentation on our Investor Relations website at investor.ensino.com. With that, I will turn the call over to Sean.

Good afternoon, and thank you for joining us to discuss Encino's second quarter fiscal 2026 results. Before jumping into the details from the quarter, I'd like to remind you of the fundamental challenge we address and Encino's mission in the marketplace. Financial institutions around the globe face persistent challenges rooted in legacy and fragmented technology infrastructure that restricts their growth potential and bottom line performance and causes inefficient and frustrating user experiences for both their employees and customers. Encino alleviates critical pain points inflicted by disparate data sources, legacy technology, and manual processes with intelligent automation delivered on a unified, scalable platform powered by AI. Encino stands as the singular cloud-native SaaS platform that allows financial institutions of all sizes on a global basis to seamlessly manage lending, onboarding, account opening, and portfolio management across all major lines of business. Because we are the system of record for so many of our customers' most critical operations, and because our solutions are deployed in over 20 countries across a broad and diverse customer base of banks credit unions and imbs of all sizes we believe we have built a competitive mode that is both wide and deep turning to our second quarter we outperformed our guidance ranges for both our revenues and profitability metrics and the evolution of our product strategy continues to be validated in the marketplace with our flagship commercial loan origination solution, we saw strong activity in the North American enterprise market, including significant expansion agreements with two top 50 US banks and a top five Canadian bank. And in the mid-market, we saw an almost seven-figure ACV commitment from a net new $10 billion asset bank for commercial lending. We also saw positive traction with our growth initiatives for fiscal 2026. which, as a reminder, are expanding our focus in EMEA, activating the credit union market, realizing the onboarding opportunity, cross-selling mortgage, and embedding AI data and analytics across our unified platform. On continental Europe, where we see an over $4 billion market opportunity, we signed our first customer in Spain. As we have seen over the history of the company, we expect success with the initial customer in a new geography to validate the Encino value proposition and fuel growth with other financial institutions in that geography. Also in the quarter, Infosys, a strategic partner in the implementation of Encino at ABN AMRO Bank, one of the largest banks in the Netherlands, issued a press release announcing a successful go-live. This project strategically sought to transform ABN AMRO's loan origination and collateral management process by consolidating multiple legacy systems into a single, unified platform, enhancing ABN AMRO's ability to serve its customers and streamline operations. We expect wins, and more importantly, go-lives like these to precipitate more new business in our newer European markets throughout the second half of this year and beyond. In the credit union market, where we previously announced the dedicated focus this year, we signed an expansion deal that included business lending and account opening, commercial lending, commercial pricing and profitability, and incentive compensation, which took a credit union with $12 billion in assets over the seven-figure mark for their annual commitment to Encina. Overall, our credit union team added six new logos, and 35 cross-sells in the second quarter. Moving to onboarding. In the second quarter, an existing UK challenger bank customer increased their ACV with Encino over 80% by broadening their adoption to include onboarding, demonstrating the market demand for technology that helps financial institutions manage the end-to-end client relationship. From acquisition to to ongoing interactions and due diligence monitoring, ensuring a compliant, smooth, and personalized experience. Turning to mortgage, the market showed signs of momentum in the second quarter with expansion activity from over 50 Encino Mortgage customers, about half of which were depository institutions, evidencing the demand in our customer base to leverage our best-in-class unified platform across lines of business within their institutions. Seeing this level of activity across both depositories and IMBs with our mortgage solution is a positive signal. And as Greg will touch upon in his remarks, the year-over-year subscription revenues growth we saw in mortgage this quarter demonstrates that the platform pricing shift we made with mortgage over the past couple of years will prove beneficial as the industry recovers. Finally, on the AI front, I'm very excited to share our progress on what we believe will be as transformative for financial services as our pioneering move to cloud banking was over a decade ago. Banking Advisor represents the first pillar of our AI strategy, and over 80 customers have now purchased this technology. Banking Advisor represents an AI-powered interface designed exclusively for financial institutions. Unlike generic AI solutions, Banking Advisor is deeply integrated into Encino workflows and understands financial products, process workflows, regulatory nuances, and day-to-day banking realities. Banking Advisor is evolving to become the primary interface through which our customers will experience increasingly sophisticated AI capabilities and fully agentic workflows. which we plan to start rolling out to the market next quarter. As our product development organization continues to deepen and widen our AI mode, and as more and more financial institutions look to Encino to help them navigate their AI journey, we are laser focused on ensuring the successful adoption of Banking Advisor by the initial cohort of customers. Financial institutions don't just need AI tools. They want a partner they trust who deeply understands banking, has a proven ability to drive industry-wide change, and possesses the data foundation necessary to build truly differentiated AI capabilities. Encino has been that partner through our customers' introduction to the cloud, and we strongly believe no company is better positioned than Encino to lead the AI transformation of financial services. Specifically, Encino provides mission-critical systems for our customers. We understand the regulatory complexities and nuances our customers must navigate and comply with on a global basis. We are a trusted data partner with a deep appreciation for the confidential nature of our customers' information and the infrastructure required to protect it. because of our singular financial services vertical market focus across commercial, consumer, and mortgage lines of business. These factors, along with our scale, global presence, reputation in the market, and best of breed product portfolio, make us uniquely positioned to be the worldwide leader in AI banking. AI is coming up in virtually every customer conversation. and we are already seeing our AI-first approach contributing as a differentiator that helps move deals over the finish line, including being a catalyst for customers to transition to our new pricing framework. With that, I'll hand the call over to Greg to walk you through our financial results.