Fair Isaac Corporation · NYSE:FICO
Fair Isaac — Q3 2024 Earnings Presentation
14 slides from Fair Isaac's earnings presentation, Jul 31, 2024
Slide 1: © 2022 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only
© 2022 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only and cannot be reproduced or shared without Fair Isaac Corporation’s express consent.
Slide 2: Q3 2024 financial summary
Scores Revenues $201.8 $236.9 $241.4 2% 20% Software Revenues $196.9 $196.9 $206.4 5% 5% Total Revenues $398.7 $433.8 $447.8 3% 12% Software ARR $645.9 $697.0 $709.6 2% 10% Software ACV Bookings $21.1 $16.8 $27.5 64% 30% Non-GAAP Op. Margin* 53% 53% 52% -1% -1% Non-GAAP Net Margin* 36% 36% 35% -1% -
Slide 3: Revenue, ACV bookings, adjusted EBITDA and non-GAAP EPS trends
$450 $30 $400 $25 $350 $20 $300 $433.8 $447.8 $15 $398.7 $28.0 $27.5 $389.7 $382.1 $250 $10 $21.1 $18.3 $16.8 $200 $5 $150 $0 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Non-GAAP $240 $7.0 $6.14 $6.25 $200 $6.0 $5.66 $5.01 $0.98 $1.20 $160 $0.58 $4.81 $5.0 $1.00 $0.01 $120 $236.7 $23
Slide 4: Revenue by Scores, software and professional services
$447.8 $450 $433.8 $398.7 $400 $389.7 $382.1 Scores $350 $241.4 $236.9 $300 $201.8 $195.5 $192.1 Professional $250 Services $200 $22.6 $24.8 $25.2 $21.3 $19.7 $150 On-Premises and SaaS $100 Software $172.1 $169.0 $168.7 $177.2 $183.8 $50 $0 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 © 2024 Fair Isaac Corporation
Slide 5: Operating expense breakdown by category
$300 $257.3 $238.7 $4.3 $250 $230.4 $221.4 $223.8 $3.7 $4.5 $47.3 $3.8 $2.9 $41.5 Travel & $36.1 $200 $36.9 Entertainment $41.5 $30.5 $27.5 $28.8 $18.1 $26.1 Materials & $150 Services Equipment, $100 Facilities $175.2 $158.0 $157.9 $162.3 $164.7 $50 Personnel $0 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 © 2024
Slide 6: Scores revenue by B2B, B2C and originations
Total Scores revenues up 20% vs. Q3 23 B2B revenue up 27% vs. Q3 23 B2C revenue down 2% vs. Q3 23 Mortgage Originations revenues up 80% vs. Q3 23 Auto Originations revenues down 3% vs. Q3 23 Card, Personal Loan and Other Originations revenues down 7% vs. Q3 23 © 2024 Fair Isaac Corporation. Confiden
Slide 7: Annual recurring revenue (ARR) Platform and Non-Platform
September 30, December 31, March 31, June 30, September 30, December 31, March 31, June 30, 2022 2022 2023 2023 2023 2023 2024 2024 (In millions) ARR Platform $ 113.1 $ 132.8 $ 152.5 $ 164.1 $ 173.2 $ 190.3 $ 201.4 $ 215.1 Non-Platform 437.0 450.1 461.0 481.8 496.2 497.4 495.6 494.5 Total $ 550.1 $
Slide 8: Dollar-Based Net Retention Rate (DBNRR)
September 30, December 31, March 31, June 30, September 30, December 31, March 31, June 30, 2022 2022 2023 2023 2023 2023 2024 2024 DBNRR Platform 129% 130% 146% 142% 145% 136% 126% 124% Non-Platform 101% 103% 105% 109% 111% 108% 106% 101% Total 109% 110% 114% 117% 120% 114% 112% 108% Dollar-Based N
Slide 9: Total ACV Bookings by quarter
Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 (In millions) Total ACV Bookings $ 29.2 $ 21.5 $ 23.3 $ 21.1 $ 28.0 $ 18.3 $ 16.8 $ 27.5 Annual Contract Value Bookings (ACV Bookings) are the average annualized value of software contracts signed in the current reporting period that generate current a
Slide 10: Adjusted EBITDA and free cash flow
Adj. EBITDA Free Cash Flow $240 $200 $160 $120 $236.7 $236.8 $214.7 $205.7 $201.0 $188.5 $80 $163.0 $120.8 $121.8 $40 $61.6 $0 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 © 2024 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only and cannot be reproduced or shared without Fa
Slide 11: Balance sheet and covenant metrics
(In millions) Q3-23 Q2-24 Q3-24 YoY Var QoQ Var ASSETS Cash & Investments $ 196.3 $ 178.3 $ 200.1 2% 12% Accounts Receivable & Other Current Assets 412.0 505.8 475.1 15% -6% Goodwill & Intangibles, net 777.8 776.7 776.8 0% 0% Other 198.5 242.3 256.8 29% 6% Total Assets $ 1,584.6 $ 1,703.1 $ 1,708.8
Slide 12: Segment revenues and operating income
Quarter Ended June 30, 2023 Quarter Ended June 30, 2024 Unallocated Unallocated Corporate Corporate Scores Software Expenses Total Scores Software Expenses Total (In thousands) (In thousands) Segment revenues: Segment revenues: On-premises and SaaS software $ — $ 172,059 $ — $ 172,059 On-premises an
Slide 13: Fiscal 2024 guidance
Revenues – $1.700 billion GAAP Net Income – $500 million GAAP Earnings per Share – $19.90 Non-GAAP Net Income – $582 million Non-GAAP Earnings per Share – $23.16 © 2024 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only and cannot be reproduced or shared witho
Slide 14: © 2024 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only
© 2022 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only and cannot be reproduced or shared without Fair Isaac Corporation’s express consent. © 2024 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only and cannot be repro