Fair Isaac (FICO) FY2024 results: revenue $1.7 billion, up 13.5% on the year

Fair Isaac Corp. (FICO) reported revenue of $1.7 billion for fiscal 2024, the year ended 30 September 2024, up 13.5% on the year before. Net income was $513 million, up 19.4%, and diluted earnings per share $20.45. The figures are the company's own, from the 10-K it filed with the SEC on 6 November 2024.

Revenue

$1.7 billion

+13.5% on the year

FY2017FY2024

Operating margin

42.7%

42.5% a year earlier

FY2017FY2024

Net income

$513 million

+19.4% on the year

FY2017FY2024

Diluted EPS

$20.45

+20.8% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,718	1,514	1,377	+13.5%
Cost of revenue	348	311	302	+11.9%
Gross profit	1,369	1,203	1,075	+13.9%
Gross margin	79.7%	79.4%	78.1%
Research and development	172	160	147	+7.5%
Selling, general and administrative	463	401	384	+15.5%
Operating income	734	643	542	+14.1%
Operating margin	42.7%	42.5%	39.4%
Interest expense	106	95.5	69.0	+10.6%
Pre-tax income	642	554	471	+16.0%
Income tax	129	124	97.8	+4.0%
Effective tax rate	20.1%	22.4%	20.7%
Net income	513	429	374	+19.4%
Net margin	29.9%	28.4%	27.1%
Diluted EPS	$20.45	$16.93	$14.18	+20.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	633	469	509	+35.0%
Capital expenditure	8.9	4.2	6.0	+109.7%
Free cash flow	624	465	503	+34.3%
Free cash flow margin	36.3%	30.7%	36.6%
Cash from investing	-28.0	-16.0	-5.7
Cash from financing	-593	-455	-547
Depreciation and amortisation	13.8	14.6	20.5	-5.5%
Share-based compensation	149	124	115	+20.7%
Buybacks	822	406	1,104	+102.6%
Diluted shares, weighted	25m	25m	26m	-1.1%
Shares outstanding at period end	24m	25m	25m	-1.5%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	-963	-688	-802
Debt	2,209	1,862	1,854	+18.7%
Operating lease liabilities	22.0	23.9	39.2	-8.1%
Finance lease liabilities	7.3	0.0	n/a
Other liabilities	442	378	351	+17.1%
Total liabilities and equity	1,718	1,575	1,442	+9.1%
Fixed assets	38.5	11.0	17.6	+250.8%
Goodwill	783	773	761	+1.2%
Intangible assets	0.0	0.9	2.0
Investments	45.3	33.0	24.5	+37.2%
Trading assets	45.3	n/a	n/a
Cash and equivalents	151	137	133	+10.2%
Receivables	427	388	322	+10.0%
Other assets	229	232	181	-1.5%
Total assets	1,718	1,575	1,442	+9.1%

10-K for the year ended 30 September 2024, filed 6 November 2024: the filing.