Published on 27 Apr 2024 on Zacks via Yahoo Finance

Fair Isaac (FICO) Q2 Earnings Beat Estimates, Revenues Up Y/Y

Fair Isaac FICO reported second-quarter fiscal 2024 earnings of $6.14 per share, beating the Zacks Consensus Estimate by 5.86% and rising 28.5% year over year.Revenues of $433.8 million increased 14.1% on a year-over-year basis and beat the consensus mark by 1.85%. Americas, EMEA and Asia Pacific contributed 85%, 9% and 6% to total revenues, respectively.

Top-Line Details

Software revenues, which include Fair Isaac’s analytics and digital decisioning technology, as well as associated professional services, increased 8.3% year over year to $196.9 million.Software Annual Recurring Revenues (ARR) increased 14% year over year, consisting of 32% platform ARR growth and 81% non-platform growth. Software Dollar-Based Net Retention Rate was 112% in the fiscal second quarter, with platform software at 126% and non-platform software at 106%.On-premises and SaaS Software (40.8% of revenues) increased 14.6% year over year to $177.2 million. Professional services (4.6% of revenues) were $19.7 million, down 27.3% year over year.