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FICO Announces Earnings of $5.44 per Share for Fourth Quarter Fiscal 2024

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FICO reported strong Q4 fiscal 2024 results with revenues of $453.8 million, up 16% from the prior year. GAAP earnings reached $5.44 per share, while Non-GAAP EPS was $6.54. Scores revenues grew 27% to $249.2 million, driven by a 38% increase in B2B revenue. Software revenues increased 5% to $204.6 million, with Platform ARR growth of 31%. The company provided FY2025 guidance projecting revenues of $1.98 billion and GAAP EPS of $25.05.

FICO ha riportato forti risultati per il quarto trimestre dell'anno fiscale 2024, con ricavi di $453,8 milioni, in aumento del 16% rispetto all'anno precedente. Gli utili GAAP hanno raggiunto $5,44 per azione, mentre l'EPS Non-GAAP è stato di $6,54. I ricavi da Scores sono cresciuti del 27%, arrivando a $249,2 milioni, sostenuti da un aumento del 38% nei ricavi B2B. I ricavi da Software sono aumentati del 5%, per un totale di $204,6 milioni, con una crescita del 31% nell'ARR della piattaforma. L'azienda ha fornito indicazioni per l'anno fiscale 2025, prevedendo ricavi di $1,98 miliardi e un EPS GAAP di $25,05.

FICO reportó resultados fuertes para el cuarto trimestre del año fiscal 2024, con ingresos de $453.8 millones, un aumento del 16% en comparación con el año anterior. Las ganancias GAAP alcanzaron $5.44 por acción, mientras que el EPS No-GAAP fue de $6.54. Los ingresos de Scores crecieron un 27% hasta $249.2 millones, impulsados por un aumento del 38% en los ingresos B2B. Los ingresos por Software aumentaron un 5%, alcanzando $204.6 millones, con un crecimiento del 31% en el ARR de la plataforma. La compañía proporcionó proyecciones para el año fiscal 2025, anticipando ingresos de $1.98 mil millones y un EPS GAAP de $25.05.

FICO는 2024 회계연도 4분기 강력한 실적을 보고했으며, 수익은 $453.8 백만으로 전년 대비 16% 증가했습니다. GAAP 수익은 주당 $5.44에 도달했으며, 비 GAAP EPS는 $6.54였습니다. Scores의 수익은 27% 증가하여 $249.2 백만에 이르렀고, 이는 B2B 수익의 38% 증가에 기인합니다. 소프트웨어 수익은 5% 증가하여 $204.6 백만에 이르며, 플랫폼 ARR은 31% 성장했습니다. 회사는 2025 회계연도 매출을 $19.8 억 및 GAAP EPS를 $25.05로 예측하는 지침을 제공했습니다.

FICO a annoncé de bons résultats pour le quatrième trimestre de l'exercice 2024, avec des revenus de $453,8 millions, en hausse de 16% par rapport à l'année précédente. Les bénéfices GAAP ont atteint $5,44 par action, tandis que le BNPA Non-GAAP était de $6,54. Les revenus de Scores ont augmenté de 27% pour atteindre $249,2 millions, soutenus par une augmentation de 38% des revenus B2B. Les revenus logiciels ont augmenté de 5% pour s'élever à $204,6 millions, avec une croissance du ARR de la plateforme de 31%. L'entreprise a fourni des prévisions pour l'exercice 2025, prévoyant des revenus de $1,98 milliard et un BNPA GAAP de $25,05.

FICO berichtete über starke Ergebnisse im vierten Quartal des Geschäftsjahres 2024 mit einem Umsatz von $453,8 Millionen, der im Vergleich zum Vorjahr um 16% gestiegen ist. Die GAAP-Ergebnisse beliefen sich auf $5,44 pro Aktie, während das Non-GAAP-EPS bei $6,54 lag. Die Umsätze aus Scores wuchsen um 27% auf $249,2 Millionen, was durch einen Anstieg von 38% im B2B-Umsatz befeuert wurde. Die Softwareumsätze stiegen um 5% auf $204,6 Millionen, mit einem Wachstum des Plattform-ARR um 31%. Das Unternehmen gab eine Prognose für das Geschäftsjahr 2025 bekannt, die einen Umsatz von $1,98 Milliarden und ein GAAP-EPS von $25,05 vorsieht.

Positive
  • Revenue increased 16% YoY to $453.8 million
  • GAAP EPS grew 36% to $5.44
  • Non-GAAP EPS increased 31% to $6.54
  • B2B revenue surged 38%
  • Platform ARR growth of 31%
  • Software Dollar-Based Net Retention Rate at 123% for platform software
  • Free cash flow improved 35% to $219.4 million
Negative
  • B2C revenue decreased 1% due to lower myFICO.com volumes
  • Non-platform software retention rate stagnant at 99%
  • Professional services revenue declined

Insights

FICO delivered exceptional Q4 results with $453.8M revenue, up 16% YoY, driven by robust Scores segment performance. The $249.2M Scores revenue grew 27%, primarily from B2B pricing strength. Software segment showed steady growth at 5%, reaching $204.6M.

Key metrics signal strong business fundamentals: 123% platform software retention rate and 31% platform ARR growth demonstrate successful platform strategy execution. The FY2025 guidance of $1.98B revenue and $25.05 GAAP EPS shows management's confidence in continued momentum.

The 38% B2B revenue growth indicates pricing power and market leadership in credit scoring, while maintaining stable B2C performance suggests balanced revenue diversification.

The impressive margin expansion and cash flow generation demonstrate FICO's operational leverage. Free cash flow increased 35% to $219.4M, while GAAP EPS grew 36% to $5.44. The 106% overall Dollar-Based Net Retention Rate indicates strong customer relationships and successful upselling efforts.

The divergence between platform (123%) and non-platform (99%) retention rates highlights the strategic importance of platform solutions. The FY2025 guidance suggesting double-digit growth across metrics positions FICO well in the analytics and decision management market.

Revenue of $454 million vs. $390 million in prior year

BOZEMAN, Mont.--(BUSINESS WIRE)-- FICO (NYSE:FICO), a global analytics software leader, today announced results for its fourth fiscal quarter ended September 30, 2024.

Fourth Quarter Fiscal 2024 GAAP Results

Net income for the quarter totaled $135.7 million, or $5.44 per share, versus $101.4 million, or $4.01 per share, in the prior year period.

Net cash provided by operating activities for the quarter was $226.5 million versus $164.0 million in the prior year period.

Fourth Quarter Fiscal 2024 Non-GAAP Results

Non-GAAP Net Income for the quarter was $163.2 million versus $126.7 million in the prior year period. Non-GAAP EPS for the quarter was $6.54 versus $5.01 in the prior year period. Free cash flow was $219.4 million for the current quarter versus $163.0 million in the prior year period. The Non-GAAP financial measures are described in the financial table captioned “Non-GAAP Results” and are reconciled to the corresponding GAAP results in the financial tables at the end of this release.

Fourth Quarter Fiscal 2024 GAAP Revenue

The company reported revenues of $453.8 million for the quarter as compared to $389.7 million reported in the prior year period, an increase of 16%.

“I am very proud of our performance in FY24, another record year for FICO financially,” said Will Lansing, chief executive officer. “I am also pleased to provide our FY 2025 guidance, which includes double-digit percentage growth for all our metrics.”

Revenues for the fourth quarter of fiscal 2024 for the company’s two operating segments were as follows:

  • Scores revenues, which include the company’s business-to-business (B2B) scoring solutions, and business-to-consumer (B2C) solutions, were $249.2 million in the fourth quarter, compared to $195.6 million in the prior year period, an increase of 27%. B2B revenue increased 38%, driven largely by higher unit prices. B2C revenue decreased 1% from the prior year period due to lower volumes on myFICO.com business.
  • Software revenues, which include the company’s analytics and digital decisioning technology, were $204.6 million in the fourth quarter, compared to $194.2 million in the prior year period, an increase of 5%, mainly due to increased recurring revenue, partially offset by a decrease in professional services. Software Annual Recurring Revenue was up 8% year-over-year, consisting of 31% platform ARR growth and no growth in non-platform. Software Dollar-Based Net Retention Rate was 106% on September 30, 2024, with platform software at 123% and non-platform software at 99%.

Outlook

The company is providing the following guidance for fiscal 2025:

 

Fiscal 2025 Guidance

Revenues

$1.98 billion

GAAP Net Income

$624 million

GAAP EPS

$25.05

Non-GAAP Net Income

$712 million

Non-GAAP EPS

$28.58

The Non-GAAP financial measures are described in the financial table captioned “Reconciliation of Non-GAAP Guidance.”

Company to Host Conference Call

The company will host a webcast on November 6, 2024, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to report its fourth quarter fiscal 2024 results and provide various strategic and operational updates. The call can be accessed at FICO's web site at www.fico.com/investors. A replay of the webcast will be available on our Past Events page through November 6, 2025.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 U.S. and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting four billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top U.S. lenders, is the standard measure of consumer credit risk in the U.S. and has been made available in over 40 other countries, improving risk management, credit access and transparency.

Learn more at https://www.fico.com/en

Join the conversation at https://x.com/FICO_corp & https://www.fico.com/blogs/

For FICO news and media resources, visit https://www.fico.com/en/newsroom

FICO is a registered trademark of Fair Isaac Corporation in the U.S. and other countries.

Statement Concerning Forward-Looking Information

Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the impact of macroeconomic conditions on FICO’s business, operations and personnel, the success of the Company’s Decision Management strategy and reengineering initiative, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to protect such data, the failure to realize the anticipated benefits of any acquisitions, or divestitures, and material adverse developments in global economic conditions or in the markets we serve. Additional information on these risks and uncertainties and other factors that could affect FICO’s future results are described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2024 and its subsequent filings with the SEC. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. FICO disclaims any intent or obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise.

FAIR ISAAC CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

 

September 30, 2024

 

September 30, 2023

 

(In thousands)

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

150,667

 

 

$

136,778

 

Accounts receivable, net

 

426,642

 

 

 

387,947

 

Prepaid expenses and other current assets

 

40,104

 

 

 

31,723

 

Total current assets

 

617,413

 

 

 

556,448

 

Marketable securities

 

45,289

 

 

 

33,014

 

Property and equipment, net

 

38,465

 

 

 

10,966

 

Operating lease right-of-use assets

 

29,580

 

 

 

25,703

 

Goodwill and intangible assets, net

 

782,752

 

 

 

774,244

 

Other assets

 

204,385

 

 

 

174,906

 

Total assets

$

1,717,884

 

 

$

1,575,281

 

Liabilities and Stockholders’ Deficit

 

 

 

Current liabilities:

 

 

 

Accounts payable and other accrued liabilities

$

102,285

 

 

$

78,487

 

Accrued compensation and employee benefits

 

106,103

 

 

 

102,471

 

Deferred revenue

 

156,897

 

 

 

136,730

 

Current maturities on debt

 

15,000

 

 

 

50,000

 

Total current liabilities

 

380,285

 

 

 

367,688

 

Long-term debt

 

2,194,021

 

 

 

1,811,658

 

Operating lease liabilities

 

21,963

 

 

 

23,903

 

Other liabilities

 

84,294

 

 

 

60,022

 

Total liabilities

 

2,680,563

 

 

 

2,263,271

 

 

 

 

 

Stockholders’ deficit

 

(962,679

)

 

 

(687,990

)

Total liabilities and stockholders’ deficit

$

1,717,884

 

 

$

1,575,281

 

 

FAIR ISAAC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

 

 

Quarter Ended September 30,

 

Year Ended September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

 

(In thousands, except per share data)

Revenues:

 

 

 

 

 

 

 

On-premises and SaaS software

$

181,707

 

 

$

168,979

 

 

$

711,340

 

 

$

640,182

 

Professional services

 

22,899

 

 

 

25,199

 

 

 

86,536

 

 

 

99,547

 

Scores

 

249,203

 

 

 

195,555

 

 

 

919,650

 

 

 

773,828

 

Total revenues

 

453,809

 

 

 

389,733

 

 

 

1,717,526

 

 

 

1,513,557

 

Operating expenses:

 

 

 

 

 

 

 

Cost of revenues

 

89,574

 

 

 

82,832

 

 

 

348,206

 

 

 

311,053

 

Research and development

 

44,208

 

 

 

41,596

 

 

 

171,940

 

 

 

159,950

 

Selling, general and administrative

 

122,757

 

 

 

99,331

 

 

 

462,834

 

 

 

400,565

 

Amortization of intangible assets

 

92

 

 

 

275

 

 

 

917

 

 

 

1,100

 

Gain on product line asset sale

 

 

 

 

 

 

 

 

 

 

(1,941

)

Total operating expenses

 

256,631

 

 

 

224,034

 

 

 

983,897

 

 

 

870,727

 

Operating income

 

197,178

 

 

 

165,699

 

 

 

733,629

 

 

 

642,830

 

Other expense, net

 

(25,795

)

 

 

(25,234

)

 

 

(91,604

)

 

 

(89,206

)

Income before income taxes

 

171,383

 

 

 

140,465

 

 

 

642,025

 

 

 

553,624

 

Provision for income taxes

 

35,692

 

 

 

39,041

 

 

 

129,214

 

 

 

124,249

 

Net income

$

135,691

 

 

$

101,424

 

 

$

512,811

 

 

$

429,375

 

Earnings per share:

 

 

 

 

 

 

 

Basic

$

5.54

 

 

$

4.09

 

 

$

20.78

 

 

$

17.18

 

Diluted

$

5.44

 

 

$

4.01

 

 

$

20.45

 

 

$

16.93

 

Shares used in computing earnings per share:

 

 

 

 

 

 

 

Basic

 

24,501

 

 

 

24,826

 

 

 

24,676

 

 

 

24,986

 

Diluted

 

24,950

 

 

 

25,273

 

 

 

25,079

 

 

 

25,367

 

 

FAIR ISAAC CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

Year Ended September 30,

 

 

2024

 

 

 

2023

 

 

(In thousands)

Cash flows from operating activities:

 

 

 

Net income

$

512,811

 

 

$

429,375

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

13,827

 

 

 

14,638

 

Share-based compensation

 

149,439

 

 

 

123,847

 

Changes in operating assets and liabilities

 

(20,485

)

 

 

(63,448

)

Gain on product line asset sale

 

 

 

 

(1,941

)

Other, net

 

(22,628

)

 

 

(33,556

)

Net cash provided by operating activities

 

632,964

 

 

 

468,915

 

Cash flows from investing activities:

 

 

 

Purchases of property and equipment

 

(8,884

)

 

 

(4,237

)

Capitalized internal-use software costs

 

(16,667

)

 

 

 

Net activity from marketable securities

 

(2,442

)

 

 

(5,591

)

Cash transferred, net of proceeds, from product line asset sale

 

 

 

 

(6,126

)

Net cash used in investing activities

 

(27,993

)

 

 

(15,954

)

Cash flows from financing activities:

 

 

 

Proceeds from revolving line of credit and term loans

 

947,000

 

 

 

407,000

 

Payments on revolving line of credit and term loans

 

(602,000

)

 

 

(402,000

)

Proceeds from issuance of treasury stock under employee stock plans

 

25,006

 

 

 

22,198

 

Taxes paid related to net share settlement of equity awards

 

(139,188

)

 

 

(76,673

)

Repurchases of common stock

 

(821,702

)

 

 

(405,526

)

Other, net

 

(2,039

)

 

 

 

Net cash used in financing activities

 

(592,923

)

 

 

(455,001

)

Effect of exchange rate changes on cash

 

1,841

 

 

 

5,616

 

Increase in cash and cash equivalents

 

13,889

 

 

 

3,576

 

Cash and cash equivalents, beginning of year

 

136,778

 

 

 

133,202

 

Cash and cash equivalents, end of year

$

150,667

 

 

$

136,778

 

 

FAIR ISAAC CORPORATION

NON-GAAP RESULTS

(Unaudited)

 

 

Quarter Ended September 30,

 

Year Ended September 30,

 

 

2024

 

 

 

2023

 

 

 

2024

 

 

 

2023

 

 

(In thousands, except per share data)

GAAP net income

$

135,691

 

 

$

101,424

 

 

$

512,811

 

 

$

429,375

 

Amortization of intangible assets

 

92

 

 

 

275

 

 

 

917

 

 

 

1,100

 

Gain on product line asset sale

 

 

 

 

 

 

 

 

 

 

(1,941

)

Share-based compensation expense

 

39,982

 

 

 

34,097

 

 

 

149,439

 

 

 

123,847

 

Income tax adjustments

 

(10,134

)

 

 

(8,760

)

 

 

(38,083

)

 

 

(30,806

)

Excess tax benefit

 

(2,429

)

 

 

(852

)

 

 

(29,774

)

 

 

(12,586

)

Adjustment to tax reserves and valuation allowance

 

 

 

 

560

 

 

 

 

 

 

(8,940

)

Non-GAAP net income

$

163,202

 

 

$

126,744

 

 

$

595,310

 

 

$

500,049

 

 

 

 

 

 

 

 

 

GAAP diluted earnings per share

$

5.44

 

 

$

4.01

 

 

$

20.45

 

 

$

16.93

 

Amortization of intangible assets

 

 

 

 

0.01

 

 

 

0.04

 

 

 

0.04

 

Gain on product line asset sale

 

 

 

 

 

 

 

 

 

 

(0.08

)

Share-based compensation expense

 

1.60

 

 

 

1.35

 

 

 

5.96

 

 

 

4.88

 

Income tax adjustments

 

(0.41

)

 

 

(0.35

)

 

 

(1.52

)

 

 

(1.21

)

Excess tax benefit

 

(0.10

)

 

 

(0.03

)

 

 

(1.19

)

 

 

(0.50

)

Adjustment to tax reserves and valuation allowance

 

 

 

 

0.02

 

 

 

 

 

 

(0.35

)

Non-GAAP diluted earnings per share

$

6.54

 

 

$

5.01

 

 

$

23.74

 

 

$

19.71

 

 

 

 

 

 

 

 

 

Free cash flow

 

 

 

 

 

 

 

Net cash provided by operating activities

$

226,478

 

 

$

164,049

 

 

$

632,964

 

 

$

468,915

 

Capital expenditures

 

(7,123

)

 

 

(1,068

)

 

 

(25,551

)

 

 

(4,237

)

Free cash flow

$

219,355

 

 

$

162,981

 

 

$

607,413

 

 

$

464,678

 

Note: The numbers may not sum to total due to rounding.

About Non-GAAP Financial Measures

To supplement the consolidated GAAP financial statements, the company uses the following non-GAAP financial measures: non-GAAP net income, non-GAAP EPS, and free cash flow. Non-GAAP net income and non-GAAP EPS exclude, to the extent applicable, such items as the impact of amortization expense, share-based compensation expense, restructuring and acquisition-related, excess tax benefit, and adjustment to tax valuation allowance items. Free cash flow excludes capital expenditures. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of recurring business results including significant non-cash expenses. We believe management and investors benefit from referring to these non-GAAP financial measures in assessing our performance when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe these non-GAAP financial measures are useful to investors because they allow for greater transparency with respect to key measures used by management in its financial and operating decision-making.

FAIR ISAAC CORPORATION

RECONCILIATION OF NON-GAAP GUIDANCE

(Unaudited)

 

 

 

Fiscal 2025 Guidance

 

 

(In millions, except per share data)

 

 

 

GAAP net income

 

$

624

 

Share-based compensation expense

 

 

157

 

Income tax adjustments

 

 

(39

)

Excess tax benefit

 

 

(30

)

Non-GAAP net income

 

$

712

 

 

 

 

GAAP diluted earnings per share

 

$

25.05

 

Share-based compensation expense

 

 

6.31

 

Income tax adjustments

 

 

(1.58

)

Excess tax benefit

 

 

(1.20

)

Non-GAAP diluted earnings per share

 

$

28.58

 

Note: The numbers may not sum to total due to rounding.

About Non-GAAP Financial Measures

To supplement the consolidated GAAP financial statements, the company uses the following non-GAAP financial measures: non-GAAP net income, non-GAAP EPS, and free cash flow. Non-GAAP net income and non-GAAP EPS exclude, to the extent applicable, such items as the impact of amortization expense, share-based compensation expense, restructuring and acquisition-related, excess tax benefit, and adjustment to tax valuation allowance items. Free cash flow excludes capital expenditures. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

Management uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain items that may not be indicative of recurring business results including significant non-cash expenses. We believe management and investors benefit from referring to these non-GAAP financial measures in assessing our performance when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe these non-GAAP financial measures are useful to investors because they allow for greater transparency with respect to key measures used by management in its financial and operating decision-making.

Investors/Analysts:

Dave Singleton

Fair Isaac Corporation

(800) 459-7125

investor@fico.com

Source: FICO

FAQ

What was FICO's revenue growth in Q4 2024?

FICO's revenue grew 16% year-over-year to $453.8 million in Q4 2024, compared to $389.7 million in the prior year period.

How much did FICO's Scores segment revenue increase in Q4 2024?

FICO's Scores segment revenue increased 27% to $249.2 million in Q4 2024, driven by a 38% increase in B2B revenue.

What is FICO's revenue guidance for fiscal 2025?

FICO provided revenue guidance of $1.98 billion for fiscal 2025.

What was FICO's EPS for Q4 2024?

FICO reported GAAP EPS of $5.44 and Non-GAAP EPS of $6.54 for Q4 2024.

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55.35B
23.80M
2.27%
89.82%
2.45%
Software - Application
Services-business Services, Nec
Link
United States of America
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