Fair Isaac Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Fair Isaac Corp. (FICO) has filed its Q2 2024 10-Q report, detailing financial performance and segment data for the period ending March 31, 2024.</b>

AI Summary

FAIR ISAAC CORP (FICO) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. Fair Isaac Corp. filed a 10-Q report for the quarterly period ending March 31, 2024. The filing covers the period from October 1, 2023, to March 31, 2024. The company's fiscal year ends on September 30. The filing includes data related to OnPremisesAndSaaS Software, Technology Services, and Scores Products. Financial data points such as Common Stock, Additional Paid-In Capital, Treasury Stock, Retained Earnings, and Accumulated Other Comprehensive Income are detailed for various periods.

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 data for Fair Isaac Corp., crucial for assessing the company's operational health and strategic direction. The detailed segment information for OnPremisesAndSaaS Software, Technology Services, and Scores Products allows for a granular understanding of revenue drivers and business unit performance.

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 indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Monitor future filings for trends in segment performance, particularly within SaaS and Scores Products, to gauge growth and profitability.

Key Numbers

• 2024-03-31 — Period of Report (Conformed Period of Report)
• 2024-04-25 — Filed As Of Date (Filed As Of Date)
• 0000814547 — Central Index Key (Company's Central Index Key)
• 7389 — SIC Code (Standard Industrial Classification Code)

Key Players & Entities

• FAIR ISAAC CORP (company) — Filer name
• FICO (company) — Ticker symbol
• 2024-03-31 (date) — Quarterly period end date
• 2024-04-25 (date) — Filing date
• 2024-01-01 (date) — Start date for Q2 2024
• 2023-09-30 (date) — Fiscal year end date

FAQ

Industry Context

Fair Isaac Corporation operates in the business services sector, providing analytics and decision-management solutions, primarily through credit scoring and related software.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management discussion.
2. Analyze segment revenues for OnPremisesAndSaaS Software, Technology Services, and Scores Products for growth trends.
3. Compare key financial metrics with previous periods to identify performance changes.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-25: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the specified period; no prior filing data is available for direct comparison within this analysis.

Key Financial Figures

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

Filing Documents

• fico-20240331.htm (10-Q) — 1524KB
• ficoex311q22024.htm (EX-31.1) — 10KB
• ficoex312q22024.htm (EX-31.2) — 9KB
• ficoex321q22024.htm (EX-32.1) — 4KB
• ficoex322q22024.htm (EX-32.2) — 4KB
• 0000814547-24-000016.txt (&nbsp;) — 6741KB
• fico-20240331.xsd (EX-101.SCH) — 31KB
• fico-20240331_cal.xml (EX-101.CAL) — 50KB
• fico-20240331_def.xml (EX-101.DEF) — 161KB
• fico-20240331_lab.xml (EX-101.LAB) — 477KB
• fico-20240331_pre.xml (EX-101.PRE) — 333KB
• fico-20240331_htm.xml (XML) — 1229KB

– 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 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 30

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32

Other Information

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 33

Signatures

Signatures 34 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) March 31, 2024 September 30, 2023 (In thousands, except par value data) Assets Current assets: Cash and cash equivalents $ 135,667 $ 136,778 Accounts receivable, net 469,025 387,947 Prepaid expenses and other current assets 36,780 31,723 Total current assets 641,472 556,448 Marketable securities 41,407 33,014 Other investments 1,252 1,223 Property and equipment, net 27,224 10,966 Operating lease right-of-use assets 28,283 25,703 Goodwill 776,376 773,327 Intangible assets, net 367 917 Deferred income taxes 72,249 59,136 Other assets 114,487 114,547 Total assets $ 1,703,117 $ 1,575,281 Liabilities and Stockholders' Deficit Current liabilities: Accounts payable $ 18,835 $ 19,009 Accrued compensation and employee benefits 68,805 102,471 Other accrued liabilities 68,936 59,478 Deferred revenue 143,544 136,730 Current maturities on debt 15,000 50,000 Total current liabilities 315,120 367,688 Long-term debt 2,028,652 1,811,658 Operating lease liabilities 20,558 23,903 Other liabilities 74,447 60,022 Total liabilities 2,438,777 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 24,753 and 24,770 shares outstanding at March 31, 2024 and September 30, 2023, respectively) 248 248 Additional paid-in-capital 1,281,577 1,350,713 Treasury stock, at cost ( 64,104 and 64,087 shares at March 31, 2024 and September 30, 2023, respectively) ( 5,558,809 ) ( 5,324,865 ) Retained earnings 3,638,923 3,388,059 Accumulated other comprehensive loss ( 97,599 ) ( 102,145 ) Total stockholders' deficit ( 735,660 ) ( 687,990 ) Total liabilities and stockholders' deficit $ 1,703,117 $ 1,575,281 See accompanying notes. 1 Table of Contents FAIR ISAAC CO

View Full Filing

View this 10-Q filing on SEC EDGAR