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Fair Isaac
Fair Isaac (FICO) investor relations material
Fair Isaac Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary28 Jan, 2026
Executive summary
Q1 FY2026 revenue was $512 million, up 16% year-over-year, with GAAP net income of $158 million and GAAP EPS of $6.61, both up 4% and 8% respectively; non-GAAP net income was $176 million and non-GAAP EPS was $7.33, up 22% and 27% respectively.
Scores segment drove growth, especially B2B scores and mortgage originations, while Software segment saw modest gains from platform expansion.
Free cash flow for Q1 was $165 million, with trailing twelve-month free cash flow at $718 million, up 7% year-over-year.
Share repurchases totaled $163 million for the quarter, with 95,000 shares bought at an average price of $1,707 per share.
Continued investment in headcount and marketing supported growth initiatives.
Financial highlights
Scores segment revenue was $305 million, up 29% year-over-year, with B2B scores revenue up 36% and mortgage origination revenues up 60%.
Software segment revenue was $207 million, up 2% year-over-year, with platform ARR up 33% and non-platform ARR down 8%.
Software ACV bookings hit a record $38 million in Q1, with trailing twelve-month ACV bookings up 36% year-over-year to $119 million.
Non-GAAP operating margin was 54% in Q1 FY2026, up from 50% a year ago.
Operating income for the quarter was $234 million, up 30% year-over-year.
Outlook and guidance
Fiscal 2026 revenue guidance reiterated at $2.35 billion, with GAAP net income guidance of $795 million and GAAP EPS of $33.47; non-GAAP net income guidance is $907 million and non-GAAP EPS is $38.17.
Management expressed confidence in exceeding guidance but cited macroeconomic uncertainty as a reason for not raising it yet.
Full-year net effective tax rate expected to be 24%, with an operating tax rate of 25%.
Operating expenses are expected to trend upward modestly throughout the year.
No significant debt maturities expected in the next 12 months, except for a $400 million principal payment on the 2018 Senior Notes.
Explain B2B Scores revenue growth drivers
What is platform vs non-platform Software NRR?
What caused the operating cash flow decline?
FICO 10T LLPA grid reconciliation challenges
Software platform expansion beyond financial services
Rationale for maintaining FY26 guidance
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Next Fair Isaac earnings date
Q2 202628 Apr, 2026
Fair Isaac
Next Fair Isaac earnings date
Q2 202628 Apr, 2026
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Frequently asked questions
The go-to credit rating system
Fico is the most recognizable name in credit scores and the most widely used credit scoring system in the US. When using a credit scoring algorithm, 90 percent of top US lenders in 90 percent of lending decisions use Fico’s systems. And 98.8 percent of dollars securitized in the US solely cite Fico scores as risk measurement, 300 million consumer accounts have access to Fico scores, and one billion consumers could get credit through the scores. Fico is the industry standard for consumer credit lending decisions, and there are high barriers to entry for new companies that seek to replicate similar services. Some of the company’s competitors include Fiserv, Western Union, and Experian.
The first low-cost producer of high accuracy scores
Fico’s sticky offering could be compared with getting Americans to start using the metric system or quoting temperature in Celsius. Fico is the low-cost producer of high accuracy scores; for example, it took Synchrony Financial three years to move away from using Fico. The company's fast-growing software business also has substantial switching costs. It becomes increasingly embedded in customer workflows, a software with over 90 percent retention rate and, thus, substantial amounts of recurring revenue.
Checks many of the wide moat criteria
The Fico score was introduced in 1989, and through the information found in the individual consumer's credit reports, the algorithm calculates credit scores for them. Lenders use these scores to evaluate the creditworthiness of their customers and thus determine whether to approve applications for loans, credit cards, and other borrowings.
As the creator and owner of the FICO credit-rating score with a world-class credit database, Fico checks many of the criteria when looking for a wide moat business:
High free cash flow
High return on capital employed
High return on equity
High operating margins
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