FICO (NYSE:FICO), a leading predictive analytics and decision management software company, has announced results for its fourth fiscal quarter ended September 30, 2022.

Fourth Quarter Fiscal 2022 GAAP Results

Net income for the quarter totaled $90.7 million, or $3.55 per share, versus $85.7 million, or $3.00 per share, in the prior year period.

Net cash provided by operating activities for the quarter was $144.8 million versus $91.8 million in the prior year period.

Fourth Quarter Fiscal 2022 Non-GAAP Results

Non-GAAP Net Income for the quarter was $112.5 million versus $111.9 million in the prior year period. Non-GAAP EPS for the quarter was $4.40 versus $3.92 in the prior year period. Free cash flow was $144.0 million for the current quarter versus $90.0 million in 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.

Fourth Quarter Fiscal 2022 GAAP Revenue

The company reported revenues of $348.7 million for the quarter as compared to $334.6 million reported in the prior year period.

Will Lansing - Fico“We had another strong finish to a great year, posting strong growth across all our metrics,” said Will Lansing, chief executive officer. “We are also pleased to provide double-digit percentage EPS growth in our 2023 guidance, which again demonstrates the remarkable resilience of our business model even in a turbulent market.”

Revenues for the fourth quarter of fiscal 2022 for the company’s two operating segments were as follows:

  • Software revenues, which include the company’s analytics and digital decisioning technology, as well as associated professional services, were $174.7 million in the fourth quarter, compared to $166.0 million in the prior year period, an increase of 5%, due to increased recurring revenue, partially offset by decreases in professional services. Software Annual Recurring Revenue was up 9% year-over-year, consisting of 52% platform ARR growth and 1% non-platform growth. Software Dollar-Based Net Retention Rate was 107% in the fourth quarter, with platform software at 128% and non-platform software at 100%.
  • Scores revenues, which include the company’s business-to-business (B2B) scoring solutions, and business-to-consumer (B2C) scoring solutions, were $174.1 million in the fourth quarter, compared to $168.6 million in the prior year period, an increase of 3%. B2B revenue increased 6%, driven largely by unit price increases and increases in card and personal loan originations volumes, partially offset by declines in mortgage originations volumes. B2C revenue decreased 3% from the prior year period due to lower volumes at myFICO.com.

Q4’22 Earnings Release Financials

Source:  FICO Earnings Release