Fair Isaac Corporation (FICO) SEC Filings & Earnings Calls
EquiReason read 14 Fair Isaac Corporation SEC filings in the last 12 months. Latest: 8-K on 2026-10-06 — FICO approved workforce reduction of ~15% of positions, expects $27M pre-tax charges in Q4 FY2026, substantially complete by Q3 FY2027..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
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Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
6 Oct 20268-K · 2.05FICO approved workforce reduction of ~15% of positions, expects $27M pre-tax charges in Q4 FY2026, substantially complete by Q3 FY2027.open
Risks flagged
Execution risk of restructuring plan; potential impact on employee morale and productivity.
“plan involves elimination of approximately 15% of positions; expected to be substantially completed by end of Q3 fiscal 2027”
29 Jul 20268-K · 2.02FICO raised FY2026 guidance: revenue to $2.53B from $2.45B, GAAP EPS to $36.86 from $35.60, Non-GAAP EPS to $42.43 from $40.45. Q3 revenue $674M (+26% YoY), EPS $10.45 vs $7.40. Scores revenue +41% driven by mortgage origination scores.open
Figures in the filing · each found in the filing text
| Revenue · Q3-2026 | $674M | +26% y/y |
| Net income · Q3-2026 | $237M | +30% y/y |
| GAAP EPS · Q3-2026 | $10.45 | +41% y/y |
| Non-GAAP Net Income · Q3-2026 | $277M | +31% y/y |
| Non-GAAP EPS · Q3-2026 | $12.18 | +42% y/y |
| Net cash provided by operating activities · Q3-2026 | $380M | +33% y/y |
| Free cash flow · Q3-2026 | $370M | +34% y/y |
| Scores revenue · Scores · Q3-2026 | $459M | +42% y/y |
| Software revenue · Software · Q3-2026 | $215M | +2% y/y |
| Software Dollar-Based Net Retention Rate · Software · Q3-2026 | 109.0% |
Guidance
FY26 revenue raised to $2.53B from $2.45B; GAAP Net Income to $850M from $825M; GAAP EPS to $36.86 from $35.60; Non-GAAP Net Income to $979M from $946M; Non-GAAP EPS to $42.43 from $40.45
Guidance raised across all metrics, driven by strong Scores segment performance and software platform growth.
Risks flagged
Non-platform software ARR declining 17% YoY, indicating legacy product headwinds.
“a 17% decline in non-platform ARR” · word for word
High debt levels: long-term debt $5.28B vs equity deficit, though operating cash flow strong.
“Long-term debt $5,282,389,000”
29 Jul 202610-QFICO reported strong Q3 2026 results with 26% revenue growth, 38% operating income growth, and 41% EPS growth, driven by Scores segment and Platform SaaS growth.earningsopen
Figures in the filing · each found in the filing text
| Total revenues · Q3-2026 | $674M | +26% y/y |
| Scores segment revenues · Scores · Q3-2026 | $459M | +41% y/y |
| Annual Recurring Revenue (ARR) · Software · 2026-06-30 | $816M | +10% y/y |
| Platform ARR · Software - Platform · 2026-06-30 | $413M | +62% y/y |
| Dollar-Based Net Retention Rate (DBNRR) · Software · 2026-06-30 | 109.0% | |
| Platform DBNRR · Software - Platform · 2026-06-30 | 148.0% | |
| Operating income · Q3-2026 | $363M | +38% y/y |
| Net income · Q3-2026 | $237M | +30% y/y |
| Diluted EPS · Q3-2026 | $10.45 | +41% y/y |
| Operating cash flow · 9M-2026 | $778M | +40% y/y |
Risks flagged
Debt increase for share repurchases
“Total debt balance was $5.6 billion as of June 30, 2026, compared with $3.1 billion as of September 30, 2025” · word for word
Software segment margin pressure
“Software segment operating income as a percentage of segment revenue decreased to 26% from 32%” · word for word
8 Jun 20268-K · 1.01, 2.03, 8.01FICO entered a $1.5B incremental term loan to fund a $2.0B stock repurchase program, including a $1.5B accelerated share repurchase (ASR) with Wells Fargo. The ASR is expected to complete by Sep 30, 2026, with $500M remaining authorization.open
Risks flagged
Increased debt load to finance share repurchases may strain liquidity and increase interest expense.
“Incremental Term Loan of $1.5 billion with quarterly principal repayments starting Sept 2026.”
28 Apr 20268-K · 2.02Revenue $692M (+39% y/y); Net income $264M (+63% y/y); GAAP EPS $11.14 (+69% y/y); Guidance: Revenue guidance raised to $2.45B from $2.35B; GAAP EPS to $35.60 from $33.47; Non-GAAP EPS to $40.45 from $38.17earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q2-2026 | $692M | +39% y/y |
| Net income · Q2-2026 | $265M | +63% y/y |
| GAAP EPS · Q2-2026 | $11.14 | +69% y/y |
| Non-GAAP Net Income · Q2-2026 | $297M | +54% y/y |
| Non-GAAP EPS · Q2-2026 | $12.50 | +60% y/y |
| Net cash provided by operating activities · Q2-2026 | $223M | +198% y/y |
| Free cash flow · Q2-2026 | $214M | +227% y/y |
| Scores revenue · Scores · Q2-2026 | $475M | +60% y/y |
| Software revenue · Software · Q2-2026 | $217M | +7% y/y |
| Software Annual Recurring Revenue growth · Software · Q2-2026 | 10.0% |
Guidance
Revenue guidance raised to $2.45B from $2.35B; GAAP EPS to $35.60 from $33.47; Non-GAAP EPS to $40.45 from $38.17
FICO raised all FY2026 guidance metrics, reflecting strong demand in Scores segment and platform ARR growth. Management tone is confident.
Risks flagged
Concentration in mortgage origination cycle; B2B Scores revenue highly sensitive to mortgage volume and pricing, which could normalize.
“B2B revenue increased 72% primarily attributable to a higher mortgage origination scores unit price and an increase in volume of mortgage originations.” · word for word
Non-platform ARR declining 8% indicates legacy product headwinds.
“Non-platform ARR declined 8% year-over-year.”
28 Apr 202610-QTotal Revenues $692M (+39% y/y); Scores Segment Revenue $475M (+60% y/y); Software Annual Recurring Revenue $789M (+10% y/y)open
Figures in the filing · each found in the filing text
| Total Revenues · Q2-2026 | $692M | +39% y/y |
| Scores Segment Revenue · Scores · Q2-2026 | $475M | +60% y/y |
| Software Annual Recurring Revenue · Software · Q2-2026 | $789M | +10% y/y |
| Software Dollar-Based Net Retention Rate · Software · Q2-2026 | 109.0% | |
| Net Income · Q2-2026 | $264M | +63% y/y |
| Operating Cash Flow · H1-2026 | $397M | +48% y/y |
| Diluted EPS · Q2-2026 | $11.14 | +69% y/y |
| ACV Bookings · Software · Q2-2026 | $28M | +30% y/y |
| Platform ARR · Software · Q2-2026 | $349M | +49% y/y |
Risks flagged
Software Margin Pressure from Data Center Costs
“Software segment operating income as a percentage of segment revenue decreased to 29% from 31%, primarily attributable to an increase in third-party data center hosting costs.” · word for word
Interest Expense Increase from New Debt
“Interest expense, net increased $13.2 million (42%) due to $1.0B of 2026 Senior Notes and $1.5B of 2025 Senior Notes.”
20 Mar 20268-K · 1.01, 2.03Fair Isaac issued $1.0B aggregate principal amount of 6.250% Senior Notes due 2034. Proceeds to repay existing debt, redeem $400M of 5.25% Senior Notes due 2026, and for general corporate purposes including potential stock repurchases.open
Figures in the filing · each found in the filing text
| aggregate principal amount of senior notes · Q1-2026 | $1.00B | |
| interest rate on senior notes · Q1-2026 | 6.3% | |
| redemption amount of 2026 notes · Q1-2026 | $400M |
Risks flagged
Increased leverage with $1B debt issuance; higher interest expense (6.25% vs 5.25% on redeemed notes).
“Issued $1B at 6.250%; redeeming $400M at 5.25%; net debt increase.”
11 Mar 20268-K · 8.01FICO priced $1.0B Senior Notes due 2034 to repay credit facility, redeem $400M 5.25% Senior Notes due 2026, and for general corporate purposes including stock buybacks.open
Risks flagged
Increased leverage from new $1.0B notes, though partially offset by redemption of $400M notes.
“$1.0B aggregate principal amount of Senior Notes due 2034”
11 Mar 20268-K · 8.01FICO commenced private offering of $1.0B Senior Notes due 2034 to repay credit facility, redeem $400M 5.25% Senior Notes due 2026, and for general corporate purposes including stock buybacks.open
Risks flagged
Increased leverage from new $1.0B notes, though partially offset by redemption of $400M notes.
“$1.0B aggregate principal amount of Senior Notes due 2034”
28 Jan 20268-K · 2.02Revenue $512M (+16% y/y); GAAP Net Income $158M (+4% y/y); GAAP EPS $6.61 (+8% y/y); Guidance: FY2026 revenue guidance $2.35B, GAAP net income $795M, GAAP EPS $33.47, Non-GAAP net income $907M, Non-GAAP EPS $38.17earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $512M | +16% y/y |
| GAAP Net Income · Q1-2026 | $158M | +4% y/y |
| GAAP EPS · Q1-2026 | $6.61 | +8% y/y |
| Non-GAAP Net Income · Q1-2026 | $176M | +22% y/y |
| Non-GAAP EPS · Q1-2026 | $7.33 | +27% y/y |
| Operating Cash Flow · Q1-2026 | $174M | -10% y/y |
| Free Cash Flow · Q1-2026 | $165M | -11% y/y |
| Scores Revenue · Scores · Q1-2026 | $305M | +29% y/y |
| Software Revenue · Software · Q1-2026 | $208M | +2% y/y |
| Platform ARR Growth · Software · Q1-2026 | 33.0% |
Guidance
FY2026 revenue guidance $2.35B, GAAP net income $795M, GAAP EPS $33.47, Non-GAAP net income $907M, Non-GAAP EPS $38.17
FICO reiterated FY2026 guidance with CEO citing 'strong top and bottom-line growth' and expecting 'stronger growth than FY25'. Scores segment momentum and platform ARR growth support demand acceleration.
Risks flagged
Non-platform ARR declining 8% YoY indicates legacy product headwinds and potential customer migration friction.
“Non-platform ARR declined 8% year-over-year.”
Free cash flow decreased 11% YoY despite revenue growth, possibly due to working capital or investment timing.
“Free cash flow was $165.4M vs $186.8M prior year.”
28 Jan 202610-QFICO reported strong Q1 FY2026 results with total revenue +16% YoY, driven by Scores segment +29% YoY, and operating income +30% YoY.earningsopen
Figures in the filing · each found in the filing text
| Total revenues · Q1-2026 | $512M | +16% y/y |
| Scores segment revenue · Scores · Q1-2026 | $305M | +29% y/y |
| Software Annual Recurring Revenue · Software · Q1-2026 | $766M | +5% y/y |
| Software Dollar-Based Net Retention Rate · Software · Q1-2026 | 103.0% | |
| Operating income · Q1-2026 | $234M | +30% y/y |
| Net income · Q1-2026 | $158M | +4% y/y |
| Diluted EPS · Q1-2026 | $6.61 | +8% y/y |
| Cash flows from operating activities · Q1-2026 | $174M | -10% y/y |
| ACV Bookings · Software · Q1-2026 | $38M | +78% y/y |
| Platform ARR · Software · Q1-2026 | $303M | +33% y/y |
Risks flagged
Software segment margin pressure from cloud costs
“Software segment operating income as a percentage of segment revenue decreased to 28% from 30%, primarily attributable to an increase in third-party data center hosting costs and a decrease in sales of higher-margin software recognized at a point in time.” · word for word
Non-platform ARR decline
“Non-platform ARR decreased 8% YoY to $463.4 million, indicating legacy product erosion.”
High leverage and interest expense
“Interest expense, net increased 42% YoY to $42.0 million due to $1.5B of 2025 Senior Notes. Total debt balance $3.2 billion.”
27 Jan 2026DEF 14AProxy statement for 2026 Annual Meeting, detailing executive compensation, governance proposals, and financial highlights.open
Figures in the filing · each found in the filing text
| Revenue · FY2025 | $1.99B | |
| Adjusted EBITDA · FY2025 | $1.11B | |
| Free Cash Flow · FY2025 | $739M | |
| Net Income · FY2025 | $652M |
Risks flagged
MSU performance risk
“FY25 MSU 1-Year -19.87% TSR relative to S&P 500, resulting in 0% payout for the first performance period.”
Key person risk with CEO
“CEO William Lansing's compensation increased significantly, with target annual long-term incentive award value increased to approximately $30 million, indicating high dependence on his leadership.”
7 Nov 202510-KAnnual Recurring Revenue from FICO Platform based products $264Mopen
Figures in the filing · each found in the filing text
| Annual Recurring Revenue from FICO Platform based products · Software · FY2025 | $264M |
Risks flagged
Customer concentration risk
“During fiscal 2025, 2024 and 2023, revenues generated from our agreements with Experian, TransUnion and Equifax collectively accounted for 51%, 45% and 41% of our total revenues, respectively.” · word for word
5 Nov 20258-K · 2.02Revenue $516M (+14% y/y); GAAP Net Income $155M (+14% y/y); GAAP EPS $6.42 (+18% y/y); Guidance: FY2026 revenue $2.35B, GAAP EPS $33.47, Non-GAAP EPS $38.17earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q4-2025 | $516M | +14% y/y |
| GAAP Net Income · Q4-2025 | $155M | +14% y/y |
| GAAP EPS · Q4-2025 | $6.42 | +18% y/y |
| Non-GAAP Net Income · Q4-2025 | $187M | +15% y/y |
| Non-GAAP EPS · Q4-2025 | $7.74 | +18% y/y |
| Scores revenue · Scores · Q4-2025 | $312M | +25% y/y |
| Software revenue · Software · Q4-2025 | $204M | 0% y/y |
| Software Dollar-Based Net Retention Rate · Software · Q4-2025 | 102.0% | |
| Free cash flow · Q4-2025 | $211M | -4% y/y |
Guidance
FY2026 revenue $2.35B, GAAP EPS $33.47, Non-GAAP EPS $38.17
Strong FY2026 guidance with revenue and EPS growth; CEO cites 'even stronger growth than we achieved in FY25'
Risks flagged
Restructuring charge of $10.9M in Q4 indicates ongoing cost optimization
“Fourth quarter results included a pre-tax charge of $10.9 million for restructuring” · word for word
Software segment revenue flat; non-platform ARR declining 2% indicates legacy product headwinds
“non-platform ARR at 97% net retention, down 2% year-over-year”
Fair Isaac Corporation — questions
- What did Fair Isaac Corporation file recently?
- 14 SEC filings in the last 12 months. Latest: 8-K on 2026-10-06 — FICO approved workforce reduction of ~15% of positions, expects $27M pre-tax charges in Q4 FY2026, substantially complete by Q3 FY2027.
Every figure on this page comes from Fair Isaac Corporation's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.