nCino Inc. (NASDAQ: NCNO) saw its stock price surge by 5.00% during the intraday session on Monday, reflecting strong investor confidence following the company's announcement of a $100 million stock repurchase program.

The repurchase program, authorized by nCino's Board of Directors, allows the company to buy back its outstanding common stock through various methods, including open market purchases and privately negotiated transactions. This move signals management's belief in the company's long-term growth and commitment to enhancing shareholder value.

Sean Desmond, nCino's Chief Executive Officer, emphasized the company's confidence in its business strategy and outlook, stating that the repurchase program aligns with its capital deployment goals. The program will be funded from existing cash, credit facility capacity, and future cash flows, further underscoring the company's financial health.