- FICO ( NYSE: FICO ) on Thursday posted Q1 results that came in slightly above estimates , helped by higher software recurring revenue, and reiterated its 2023 guidance.
- The credit scoring analytics firm's shares were unchanged ( +0.1% ) after the bell.
- FICO ( FICO ) reported Q1 adj. EPS of $4.26 vs. $3.70, and revenue increased 7% Y/Y to $344.87M.
- Software revenue, which includes analytics and digital decisioning technology as well as associated professional services, grew 9.2% to $166.9M due to increased recurring revenue. Software ARR was up 11%.
- Scores revenues, which include B2B and B2C scoring solutions, increased 5% to $178M. B2B revenue rose 11%, driven by a multi-year license renewal as well as increases in unit prices and in card and personal loan originations volumes.
- FICO ( FICO ) maintained its 2023 guidance of $19.42 adj. EPS and $1.46B revenue.
- Earlier, FICO ( FICO ) named Steve Weber as interim finance chief .
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FICO posts Q1 earnings slightly above estimates on higher software ARR