nCino, Inc., the cloud-based software-as-a-service company used by banks, reported its first earnings results on Wednesday since its initial public offering this summer that topped expectations.

For the second quarter ending July 31, nCino reported an adjusted loss per share of one penny, versus average analyst estimates of a loss of 5 cents per share.

Total revenues for the quarter topped analysts’ expectations, coming in at $48.8 million, up 52 percent from the same quarter a year ago. Analysts had expected the company to report revenue of $45.1 million.

The company’s subscription revenues increased 70 percent from a year ago to $39.4 million.

The company provided guidance for the fiscal third quarter in the release, noting that it expects revenues between $49 and $50 million and a net loss of 9 to 10 cents per share. For the fiscal year, the company expects to deliver total revenues between $193 million and $194 million and a loss per share of 25 to 26 cents.

“The global pandemic has only accelerated the need for digital transformation, and we see increasing momentum and appetite for cloud-based solutions,” CEO Pierre Naudé said in the release.

The executive added that its nCino Bank Operating System is helping its financial services clients “seamlessly shift to a remote work environment, with bank employees remaining productive and efficient, while also serving their clients digitally no matter where they are.”

“We believe the digital transformation of banking has become an imperative, and we are proud to partner with financial institutions of all sizes and complexities around the globe to help them grow and serve their clients and communities in today’s evolving landscape,” Naudé said.

nCino completed its initial public offering in mid-July, listing its shares on the Nasdaq.

On Wednesday, shares of nCino (NCNO) rallied more than 8.8 percent in the after-hours session to last trade hear $86.05.