Q3 2024 Fair Isaac Corp Earnings Call Transcript
Key Points
- Fair Isaac Corp (FICO) reported Q3 revenues of $448 million, up 12% over the last year.
- The company delivered record free cash flow of $206 million in Q3 and $551 million over the last four quarters.
- FICO's scores segment saw a 20% increase in revenues, driven by a 27% rise in B2B revenues.
- The company announced a new Board authorization for $1 billion of share repurchase.
- FICO's platform ARR grew by 31%, indicating strong adoption of their SaaS offerings.
- GAAP net income for Q3 was $126 million, down 2% from the prior year.
- GAAP earnings per share were $5.5, down 1% from the prior year.
- B2C revenues in the scores segment were down 2% versus the prior year.
- Auto originations revenues were down 3%, and credit card personal loan and other originations revenues were down 7% versus the prior year.
- Software operating margins contracted by 430 basis points year over year in the quarter.
Good day, ladies and gentlemen, and thank you for standing by. Welcome to the third quarter 2024 FICO earnings conference call. (Operator Instructions) We advise that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Dave Singleton.
Good afternoon and thank you for attending FICO's third quarter earnings call. I'm Dave Singleton, Vice President of Investor Relations and I'm joined today by our CEO, Will Lansing; and our CFO, Steve Weber.
Today, we issued a press release that describes financial results compared to the prior year. And on this call. Management will also discuss results in comparison with the prior quarter to facilitate an understanding of the run rate of the business. Certain statements made in this presentation are forward looking under the Private Securities Litigation Reform Act of 1995.
Those statements involve many risks and uncertainties that could cause actual results to differ
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