FICO Announces New Stock Repurchase Program

Rhea-AI Summary

FICO (NYSE:FICO) has approved a new stock repurchase program allowing up to $500 million in buybacks of its common stock. This program follows the completion of a previous buyback initiative that ran from January 2022 to October 2022. The new program is open-ended, enabling shares to be repurchased in the open market and through negotiated transactions, potentially increasing shareholder value and confidence in FICO's future performance.

Positive

• Authorization of a $500 million stock repurchase program, potentially enhancing shareholder value.
• Open-ended program allows flexibility in timing and execution of share buybacks.

Negative

• None.

BOZEMAN, Mont.--(BUSINESS WIRE)-- FICO (NYSE:FICO), a leading predictive analytics and decision management software company, today announced that its Board of Directors has approved a stock repurchase program to acquire up to $500 million of the company’s outstanding common stock. This new program was approved following completion of FICO’s previous stock repurchase program, which was in effect from January 2022 through October 2022. The new stock repurchase program, which is open-ended, allows the company to repurchase its shares from time to time in the open market and in negotiated transactions.

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 165 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at http://www.fico.com

Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/

FICO is a registered trademark of Fair Isaac Corporation in the US 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 COVID-19 on macroeconomic conditions and FICO’s business, operations and personnel, the success of the Company’s business 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, the effects of, and any changes in, laws and regulations applicable to the Company's business or its customers, the failure to protect data privacy and security, 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, 2021 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221011005233/en/

Investors/Analysts:

Steve Weber

(800) 213-5542

investor@fico.com

Media:

Katie O’Connell

(510) 621-9832

press@fico.com

Source: FICO

FAQ

What is the amount for FICO's new stock repurchase program?

FICO's new stock repurchase program is authorized for up to $500 million.

When was FICO's previous stock repurchase program active?

The previous stock repurchase program was in effect from January 2022 through October 2022.

How does the stock repurchase program affect FICO's stock price?

The stock repurchase program is expected to enhance shareholder value and potentially support an increase in FICO's stock price.

Is the new stock repurchase program open-ended?

Yes, FICO's new stock repurchase program is open-ended, allowing for flexibility in timing and execution of buybacks.