FICO Q3 2023 Earnings Report
Key Takeaways
FICO announced strong Q3 fiscal year 2023 results, with revenue of $398.7 million compared to $349.0 million in the prior year period. GAAP EPS was $5.08, and non-GAAP EPS was $5.66. The company also updated its fiscal year 2023 guidance, projecting revenues of $1.50 billion and GAAP EPS of $16.90.
Total revenues for the quarter were $398.7 million, up from $349.0 million in the prior year period.
GAAP net income was $128.8 million, or $5.08 per share, compared to $93.5 million, or $3.61 per share, in the prior year period.
Non-GAAP net income was $143.4 million, or $5.66 per share, compared to $115.7 million, or $4.47 per share, in the prior year period.
Software Annual Recurring Revenue was up 20% year-over-year, with platform ARR growth of 53% and non-platform growth of 11%.
FICO
FICO
FICO Revenue by Segment
Forward Guidance
The company is updating its previously provided guidance for fiscal 2023.
Positive Outlook
- Revenues are projected to be $1.50 billion.
- GAAP Net Income is projected to be $428 million.
- GAAP EPS is projected to be $16.90.
- Non-GAAP Net Income is projected to be $500 million.
- Non-GAAP EPS is projected to be $19.70.
Revenue & Expenses
Visualization of income flow from segment revenue to net income