Skip to main content
NCNO · Concentration risk · 10-K extracted

nCino (NCNO) concentration risks

Updated

The most significant concentration nCino discloses is Salesforce, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.

Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy

Show full disclosure ▾

About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.

Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.

Conflicts and positions. People who build TrendMatrix, or entities they control, may hold positions, long or short, in securities it covers, and may trade them at any time. Positions are not disclosed individually. Verdicts are generated by an automated model applied by the same rules to every covered stock, and are not adjusted for any position held by the people who build TrendMatrix. We do not accept payment from issuers for coverage.

No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security.

No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.

Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.

Methodology · Editorial policy & full disclaimer

Source: nCino’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗

At a glance

Disclosed-size breakdown · 1 disclosed concentration

HIGH1
MEDIUM0
LOW0
Disclosed concentrations

Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).

HIGHOutside partySupplier

Salesforce

“10-K Item 1A: 'Fundamental elements of the nCino Platform are built on the Salesforce Platform and we rely on our agreement with Salesforce to provide this solution to our customers.'”
— SEC 10-K · filed Mar 2026
TrendMatrix Research · concentration synthesis

What these concentrations mean together

updated 2026-07-03

The company's concentration profile is defined by a single platform dependency: fundamental elements of the nCino Platform are built on the Salesforce Platform, and the company relies on its agreement with Salesforce to deliver its solution to customers. This is a high-share dependency by disclosed size, and the character is dependency rather than structural — the reliance on Salesforce is not a durable feature of the end-market but a function of a specific contractual and technical architecture that could, in principle, be disrupted by changes to that agreement, pricing shifts, or restrictions imposed by Salesforce. Because the core product is engineered on top of a third-party platform, a deterioration in the Salesforce relationship could affect the company's ability to maintain, develop, or deliver its banking cloud solution. This is a more concentrated form of supplier risk than a typical hardware or raw-material dependency because it is embedded in the product architecture itself. No customer, geographic, or other supplier concentration is separately disclosed. On balance, the Salesforce relationship is the dominant risk in the disclosed profile — a high-share, dependency-character exposure where the main variables to monitor are the continuity and terms of that platform agreement, Salesforce's own product roadmap decisions, and the feasibility of any long-term reduction in that architectural dependency. The profile is narrow but the single exposure it identifies is structurally important.

For the engine’s reasoning on NCNO’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.

Industry peers · Software - Application

Peer concentration profile

SymbolNameHIGHMEDIUMLOWTotal
ADSKAutodesk, Inc.1113
ADEAAdeia Inc.1001
NCNO●nCino, Inc.1001
AGYSAgilysys, Inc.0202
ADBEAdobe Inc.0000
ADPAutomatic Data Processing, Inc.0000

Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.

Concentration disclosures are extracted verbatim from SEC 10-K filings; the disclosed-size classification and the synthesis above are engine-derived. Size reflects how large each exposure is against fixed share thresholds (HIGH >50%, MEDIUM 25–50%, LOW <25% or an explicit diversification statement), not a judgment of how dangerous it is, and is not a buy/sell rating, a price target, or a view on the stock. Not a complete list of risk factors — see the full filing.

Home › Stocks › NCNO › Concentration risk