AI English summary of an SEC filing — figures as filed
Fair Isaac FICOThe company said total revenue for the quarter ended June 30, 2024 was $447.8 million, up 12% from a year earlier. Operating income for the same quarter was $190.3 million, up 7%, and net income was $126.3 million, down 2%.
Key points
AI summaryThe company said total revenue for the quarter ended June 30, 2024 was $447.8 million, up 12% from a year earlier. Operating income for the same quarter was $190.3 million, up 7%, and net income was $126.3 million, down 2%.
Fair Isaac said Scores segment revenue for the quarter ended June 30, 2024 was $241.5 million, up 20% from a year earlier. The company cited higher unit prices as the main driver of the B2B scores revenue increase, which it said was partially offset by a decrease in mortgage originations.
The company said Annual Recurring Revenue for the Software segment as of June 30, 2024 was $709.6 million, up 10% from a year earlier, and that its Dollar-Based Net Retention Rate was 108%. It said Software segment operating margin for the quarter fell from 38% to 34%, and cited a one-time reimbursement from a third-party data center provider in the prior-year quarter as the factor.
FICO said it amended its credit agreement on June 13, 2024, adding a $450 million unsecured term loan and bringing the total facility to $1.35 billion. The company also said its Board of Directors approved a new share repurchase program of $1.0 billion on July 2024, which took effect on July 29.
Key figures
Quarter ended June 30, 2024
- Revenue
- $448M
- Operating income
- $190M
- Net income
- $126M
- EPS
- $5.05
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Quarterly Revenue, Operating Income and Net Income (Quarter Ended June 30, 2024)
The company said total revenue for the quarter ended June 30, 2024 was $447.8 million, up 12% from a year earlier. Operating income for the same quarter was $190.3 million, up 7%, and net income was $126.3 million, down 2%.
Source · Based on the MD&A text of the filing
Scores Segment Revenue and Factors Cited by the Company
Fair Isaac said Scores segment revenue for the quarter ended June 30, 2024 was $241.5 million, up 20% from a year earlier. The company cited higher unit prices as the main driver of the B2B scores revenue increase, which it said was partially offset by a decrease in mortgage originations.
Source · Based on the MD&A text of the filing
Software Segment Annual Recurring Revenue and Quarterly Operating Margin
The company said Annual Recurring Revenue for the Software segment as of June 30, 2024 was $709.6 million, up 10% from a year earlier, and that its Dollar-Based Net Retention Rate was 108%. It said Software segment operating margin for the quarter fell from 38% to 34%, and cited a one-time reimbursement from a third-party data center provider in the prior-year quarter as the factor.
Source · Based on the MD&A text of the filing
New $450 million Term Loan and Share Repurchase Program
FICO said it amended its credit agreement on June 13, 2024, adding a $450 million unsecured term loan and bringing the total facility to $1.35 billion. The company also said its Board of Directors approved a new share repurchase program of $1.0 billion on July 2024, which took effect on July 29.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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