The following is a summary of the Fair Isaac Corporation (FICO) Q3 2024 Earnings Call Transcript:

Financial Performance:

• FICO reported Q3 revenues of $448 million, indicating a 12% year-over-year increase.

• GAAP net income was $126 million, slightly down by 2%, and earnings per share decreased to $5.05.

• Non-GAAP net income rose to $156 million, with earnings per share of $6.25, both reflecting increases of 9% and 10%, respectively.

• The company achieved a record free cash flow of $206 million in the quarter.

Business Progress:

• FICO has focused on broadening the adoption of FICO Score 10-T across non-GSE mortgages, and significant market segments have signed up.

• Software segment revenue increased by 5% fueled mainly by growth in SaaS software, though offset by a decline in professional services.

Opportunities:

• Given the strength in mortgage originations revenue, there is potential for further expansion in this area, supported by improvements in FICO Score 10-T adoption.

Risks:

• Revenue from auto originations was down due to a shift in market share to peers pricing at lower rates.

More details: Fair Isaac IR

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