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FICO filing events and research context

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FICO's research view summarizes recent SEC filing context, starting with mda_quarterly from Apr 28, 2026.

FICO filing events and research context
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Apr 28, 2026mda_quarterlyFICO reported total revenues of $691.7 million for the quarter ended March 31, 2026, a 39% year-over-year increase. Growth was primarily driven by the Scores segment, where revenues rose 60% to $475.0 million due to higher unit pricing and increased mortgage origination volumes. The Software segment grew 7% to $216.7 million, with expansion concentrated in SaaS revenue for the FICO Platform. Platform ARR reached $348.8 million, now representing 44% of total Software ARR, and achieved a Dollar-Based Net Retention Rate of 136%, contrasting with the 90% DBNRR of non-platform products. Operating income rose 64% to $402.5 million, benefiting from the high-margin nature of the Scores business, which reduced cost of revenues as a percentage of total revenue to 13%. FICO maintains an aggressive capital return strategy, repurchasing $611.3 million in shares during the quarter under a new $1.5 billion authorization. To manage liquidity and debt, the company issued $1.0 billion in senior notes in March 2026 to repay maturing 2018 notes and reduce revolving credit balances, bringing total debt to $3.6 billion. Cash and cash equivalents stood at $219.4 million as of March 31, 2026.
Jan 28, 2026mda_quarterlyFICO reported total revenues of $512.0 million for the quarter ended December 31, 2025, a 16% increase year-over-year, driven primarily by the Scores segment. Scores revenue rose 29% to $304.5 million, propelled by higher business-to-business unit pricing and increased mortgage origination volumes, achieving an 88% operating margin. Conversely, Software segment revenue grew just 2% to $207.4 million, with operating margins contracting to 28% due to rising third-party data center hosting costs and lower point-in-time software sales. Within Software, Annual Recurring Revenue (ARR) reached $766.0 million, up 5%, led by a 33% surge in FICO Platform ARR to $302.6 million, which offset an 8% decline in non-platform ARR. The Software segment's Dollar-Based Net Retention Rate stood at 103%, supported by a strong 122% rate for the Platform. Overall operating income increased 30% to $234.0 million, while net income rose 4% to $158.4 million, tempered by a 42% increase in net interest expense. FICO holds $3.2 billion in total debt, including $400 million in senior notes maturing in May 2026, and generated $174.1 million in operating cash flow while returning $162.7 million to shareholders via stock repurchases.
Nov 7, 2025businessFair Isaac Corporation (FICO) is a global analytics leader operating through two primary segments: Scores and Software. The Scores segment provides the FICO Score, the standard measure of consumer credit risk in the U.S., distributed primarily through consumer reporting agencies (CRAs) including Experian, TransUnion, and Equifax. These CRAs are critical partners and competitors, collectively accounting for 51% of total revenue in fiscal 2025. The Software segment is transitioning toward the FICO Platform, a modular cloud architecture intended to consolidate all software offerings and drive annual recurring revenue (ARR) through "land and expand" strategies. Key software products include FICO Fraud Solutions, powered by the Falcon Intelligence Network, and the FICO Originations Solution. FICO is highly concentrated in the financial services industry, which represented 92% of revenue in fiscal 2025, and the Americas market, which accounted for 87%. The company faces intense competition from VantageScore and enterprise software providers such as SAS, IBM, and Pegasystems. Key operational risks include stringent data privacy regulations like GDPR and CCPA, as well as emerging AI governance frameworks such as the EU AI Act.

Source: SEC EDGAR filing text and events; period Apr 28, 2026; filed Apr 28, 2026.

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