FICO (NYSE:FICO), a leading predictive analytics and decision management software company, has announced results for its third fiscal quarter ended June 30, 2020. The company reported revenues of $313.7 million for the quarter as compared to $314.2 million reported in the prior year period.
“I am pleased to report we posted a very solid quarter, which again shows the resiliency of our business even in these uncertain times,” said Will Lansing, chief executive officer. “We continued to perform well in all parts of our business, and delivered record cash flow.”
Revenues for the third quarter of fiscal 2020 across each of the company’s three operating segments were as follows:
- Applications revenues, which include the company’s preconfigured decision management applications and associated professional services, were $141.5 million in the third quarter, compared to $165.6 million in the prior year period, a decrease of 15%, due primarily to decreased license sales in our Falcon Fraud product.
- Scores revenues, which include the company’s business-to-business (B2B) scoring solutions and associated professional services, and business-to-consumer (B2C) service, were $131.6 million in the third quarter, compared to $115.1 million in the prior year period, an increase of 14%. B2B revenue increased 12% and B2C revenue increased 21% from the prior year period.
- Decision Management Software revenues, which include Blaze Advisor®, Xpress Optimization, Decision Management Platform and related professional services, were $40.7 million in the third quarter, compared to $33.5 million in the prior year period, an increase of 22%, due primarily to SaaS subscription revenues.
Third Quarter Fiscal 2020 GAAP Results
Net income for the quarter totaled $64.1 million, or $2.15 per share, versus $64.2 million, or $2.12 per share, in the prior year period. Net cash provided by operating activities for the quarter was $106.9 million versus $68.3 million in the prior year period. Source: FICO Earnings Release