FICO (NYSE:FICO), a leading predictive analytics and decision management software company, has announced results for its third fiscal quarter ended June 30, 2021.

Third Quarter Fiscal 2021 GAAP Results

Net income for the quarter totaled $151.2 million, or $5.18 per share, versus $64.1 million, or $2.15 per share, in the prior year period. The results included a pre-tax gain of $92.8 million on the previously-announced sale of the Debt Collections and Recovery product line, or $2.52 per share after tax.

Net cash provided by operating activities for the quarter was $100.6 million versus $106.9 million in the prior year period.

Third Quarter Fiscal 2021 Non-GAAP Results

Non-GAAP Net Income for the quarter was $98.8 million versus $76.7 million in the prior year period. Non-GAAP EPS for the quarter was $3.38 versus $2.58 in the prior year period. Free cash flow was $99.0 million for both the current quarter and the prior year period. The Non-GAAP financial measures are described in the financial table captioned “Non-GAAP Results” and are reconciled to the corresponding GAAP results in the financial tables at the end of this release.

Third Quarter Fiscal 2021 GAAP Revenue

“I’m pleased to report we delivered another solid quarter,” said Will Lansing, chief executive officer. “We had another record Scores quarter, and are making great progress in our SaaS transition.”

Revenues for the third quarter of fiscal 2021 across each of the company’s three operating segments were as follows:

  • Applications revenues, which include the company’s decision management applications and associated professional services, were $133.2 million in the third quarter, compared to $141.5 million in the prior year period, a decrease of 6%, due primarily to decreased services revenues, and the sale of the Debt Collections and Recovery product line in early June.
  • Scores revenues, which include the company’s business-to-business (B2B) scoring solutions and associated professional services, and business-to-consumer (B2C) service, were $172.2 million in the third quarter, compared to $131.6 million in the prior year period, an increase of 31%. B2B revenue increased 23%, driven largely by unit price increases and higher origination volumes. B2C revenue increased 50% from the prior year period due to higher volumes at myFICO.com, as well as through our partners.
  • Decision Management Software revenues, which include Blaze Advisor®, Xpress Optimization, Decision Management Platform and related professional services, were $32.8 million in the third quarter compared to $40.7 million in the prior year period, a decrease of 20%, due primarily to decreased up-front license revenues.

Source:  FICO Earnings Release