Fair Isaac Corp. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Fair Isaac Corp. (FICO) filed its Q1 2024 10-Q report on January 25, 2024.</b>

AI Summary

FAIR ISAAC CORP (FICO) filed a Quarterly Report (10-Q) with the SEC on January 25, 2024. Fair Isaac Corp. filed a 10-Q report for the period ending December 31, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on September 30th. The filing was made on January 25, 2024. The company's business address is in Bozeman, MT.

Why It Matters

For investors and stakeholders tracking FAIR ISAAC CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational updates for Fair Isaac Corp. Understanding the details within this report is crucial for assessing the company's financial health, strategic direction, and potential investment value.

Risk Assessment

Risk Level: low — FAIR ISAAC CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine financial reporting.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand revenue drivers and profitability trends for FICO.

Key Numbers

• 2023-12-31 — Period of Report (Conformed Period of Report)
• 2024-01-25 — Filing Date (Filed As Of Date)
• 0930 — Fiscal Year End (Fiscal Year End)
• 7389 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• FAIR ISAAC CORP (company) — Filer
• FICO (company) — Ticker Symbol
• 10-Q (regulator) — Form Type
• 2023-12-31 (date) — Period of Report
• 2024-01-25 (date) — Filing Date
• DE (location) — State of Incorporation
• MT (location) — State of Business Address
• 941499887 (identifier) — IRS Number

FAQ

Industry Context

Fair Isaac Corporation operates in the business services sector, providing analytics and decision-management solutions.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Analyze the revenue breakdown by segment to identify growth areas.
2. Examine the balance sheet for changes in assets, liabilities, and equity.
3. Review any disclosed risk factors for potential impacts on future performance.

Key Dates

• 2023-12-31: End of Reporting Period — Marks the end of the fiscal quarter for which financial results are reported.
• 2024-01-25: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, reporting on the first quarter.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share FICO New York Stock

Filing Documents

• fico-20231231.htm (10-Q) — 1202KB
• ficoex311q12024.htm (EX-31.1) — 10KB
• ficoex312q12024.htm (EX-31.2) — 9KB
• ficoex321q12024.htm (EX-32.1) — 4KB
• ficoex322q12024.htm (EX-32.2) — 4KB
• 0000814547-24-000005.txt (&nbsp;) — 6506KB
• fico-20231231.xsd (EX-101.SCH) — 39KB
• fico-20231231_cal.xml (EX-101.CAL) — 51KB
• fico-20231231_def.xml (EX-101.DEF) — 208KB
• fico-20231231_lab.xml (EX-101.LAB) — 618KB
• fico-20231231_pre.xml (EX-101.PRE) — 409KB
• fico-20231231_htm.xml (XML) — 964KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Unaudited Financial Statements

Item 1. Unaudited Financial Statements 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 29

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 31

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 32

Signatures

Signatures 33 i Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Unaudited Financial Statements

Item 1. Unaudited Financial Statements FAIR ISAAC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) December 31, 2023 September 30, 2023 (In thousands, except par value data) Assets Current assets: Cash and cash equivalents $ 160,421 $ 136,778 Accounts receivable, net 367,478 387,947 Prepaid expenses and other current assets 37,364 31,723 Total current assets 565,263 556,448 Marketable securities 36,955 33,014 Other investments 1,258 1,223 Property and equipment, net 10,406 10,966 Operating lease right-of-use assets 18,916 25,703 Goodwill 777,195 773,327 Intangible assets, net 642 917 Deferred income taxes 63,725 59,136 Other assets 119,158 114,547 Total assets $ 1,593,518 $ 1,575,281 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 18,584 $ 19,009 Accrued compensation and employee benefits 68,216 102,471 Other accrued liabilities 46,487 59,478 Deferred revenue 146,822 136,730 Current maturities on debt 153,000 50,000 Total current liabilities 433,109 367,688 Long-term debt 1,808,655 1,811,658 Operating lease liabilities 11,899 23,903 Other liabilities 65,620 60,022 Total liabilities 2,319,283 2,263,271 Commitments and contingencies Stockholders' deficit: Preferred stock ($ 0.01 par value; 1,000 shares authorized; none issued and outstanding) — — Common stock ($ 0.01 par value; 200,000 shares authorized, 88,857 shares issued and 24,879 and 24,770 shares outstanding at December 31, 2023 and September 30, 2023, respectively) 249 248 Additional paid-in-capital 1,239,131 1,350,713 Treasury stock, at cost ( 63,978 and 64,087 shares at December 31, 2023 and September 30, 2023, respectively) ( 5,380,827 ) ( 5,324,865 ) Retained earnings 3,509,124 3,388,059 Accumulated other comprehensive loss ( 93,442 ) ( 102,145 ) Total stockholders' deficit ( 725,765 ) ( 687,990 ) Total liabilities and stockholders' deficit $ 1,593,518 $ 1,575,281 See accompanying notes. 1 Table of Contents FAI

View Full Filing

View this 10-Q filing on SEC EDGAR