Fair Isaac Corporation (FICO) Earnings
Fair Isaac Corporation is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $11.68. FICO has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +8.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $10.89 | $12.50 | +14.8% | $692M | +9.8% |
| Jan 28, 2026 | $7.08 | $7.33 | +3.5% | $512M | +2.1% |
| Nov 5, 2025 | $7.32 | $7.74 | +5.7% | $516M | +0.5% |
| Jul 30, 2025 | $7.71 | $8.57 | +11.2% | $536M | +4.1% |
| Feb 4, 2025 | $6.09 | $5.79 | -4.9% | $440M | -2.7% |
| Jul 31, 2024 | $6.32 | $5.05 | -20.1% | $448M | +0.5% |
| Apr 25, 2024 | $5.81 | $6.14 | +5.7% | $434M | +1.9% |
| Jan 25, 2024 | $5.06 | $4.81 | -4.9% | $382M | -2.3% |
| Aug 2, 2023 | $5.25 | $5.66 | +7.8% | $399M | +2.4% |
| Apr 27, 2023 | $5.04 | $4.78 | -5.2% | $380M | +1.4% |
| Jan 26, 2023 | $4.18 | $4.26 | +1.9% | $345M | +0.1% |
| Aug 3, 2022 | $3.98 | $4.47 | +12.3% | $349M | +1.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Will Lansing mentioned strong Q2 results, increased fiscal 2026 guidance. Q2 revenues $692 million, up 39% y/y. GAAP net income $264 million, up 63% y/y. GAAP earnings per share $11.14, up 69% y/y. Non-GAAP net income $297 million, up 54% y/y. Non-GAAP earnings per share $12.50, up 60% y/y. Free cash flow $214 million in Q2, 867 million over last four quarters (up 28% from prior four-quarter period). - Score segment: B2B scores key driver of growth, B2C scores sixth straight quarter of growth. FICO applauded FHFA and FHA initiative for FICO Score 10T, updated pricing in FICO Mortgage Direct Licensing Program, added 11 more lenders to Early Adopter Program. Moving closer to go live dates of next generation cashflow ultra FICO score with Plaid and reseller partners. - Software segment: FICO Platform is world's leading AI decisioning platform for financial services. Over 150 clients globally using FICO platform. Software ACV bookings strong, platform ARR growth driven by new customer wins and expanded use cases/volumes from existing customers. - AI: FICO views AI as opportunity, has 137 AI-based patents. Scores business limited by regulatory requirements, software business platform architected to be agentic by design.
Guidance
- Raised full year 2026 guidance. Revenue guidance now $2.45 billion (up 23% vs prior year). GAAP net income guidance $825 million (up 27% vs prior year), GAAP earnings per share $35.60 (up 34% vs prior year). Non-GAAP net income guidance $946 million (up 29% vs prior year), non-GAAP earnings per share $40.45 (up 35% vs prior year). - Updated guidance assumes conservative score volumes, no anticipation of share loss competition in any vertical. - FY26 revenue guidance reflects lower point-in-time revenue due to fewer non-platform license renewal opportunities compared to prior year.
Segment performance
Score segment revenues were $475 million, up 60% versus prior year. B2B revenues up 72% (driven by higher mortgage origination scores, unit price, and volume), B2C revenues up 5% (driven by indirect channel partners). Mortgage originations revenues up 127% (accounting for 72% of B2B revenue and 63% of total scores revenue). Auto originations revenues up 13%, credit card, personal loan, and other originations revenues up 6%. Software segment revenues $217 million, up 7% over last year. Platform revenue growth 54%, non-platform revenue declined 12%. Software ACV bookings $28 million, trailing 12-month ACV bookings $126 million (up 36% from prior year). Total software ARR $789 million (up 10% over prior year), platform ARR $349 million (44% of Q226 ARR, grew 49% vs prior year), non-platform ARR $440 million (down 8% this quarter). Dollar-based net retention rate 109%, platform NRR 136%, non-platform NRR 90%. 90% of total company revenues from Americas region, 7% from EMEA, 3% from Asia Pacific.
Risks & headwinds
- Statements made are forward-looking with many risks and uncertainties that could cause actual results to differ materially. Information concerning risks and uncertainties is in company's SEC filings. - In scores business, AI limited by strict regulatory requirements on credit underwriting outcome explainability and model governance. Scoring models supported by proprietary data access and deep ecosystem integration. - Regulatory changes or issues related to mortgage market and credit scoring could impact business. Uncertainty around adoption and impact of VantageScore and FICO Score 10T in conforming mortgage market, including potential gaming and regulatory handling.
Analyst Q&A
Q: Jason Haas asked about philosophy behind adjusting pricing model for FICO 10T.
A: Moving to performance model to distribute value, encourage adoption of FICO 10T with $0.99 plus funding fee to make upfront cost low. -
Q: Manav Petnik asked about 10T adoption, direct loan model live timeline.
A: Resellers mostly signed up, working on final details, waiting on FHFA final sign-off. -
Q: Simon Clinch asked about lenders' treatment of 10T and reseller readiness.
A: Lenders have choice between models, reseller program close to live, waiting on FHFA sign-off. -
Q: Surrender signed asked about 10T timing dependencies and expenses.
A: 10T data release up to FHFA, expenses related to scores business not material. -
Q: Faisal Awai asked about mortgage revenue growth and software platform growth.
A: Mortgage revenue growth due to volume and new rate, software platform growth from land and expand strategy in financial services. -
Q: Jeff Mueller asked about FHFA selling guidelines and VantageScore approval process.
A: Waiting on selling guidelines, details on VantageScore approval process not available. -
Q: Ashish Shabhadra asked about FICO 10T pricing strategy and VantageScore credit risk.
A: Pricing strategy under evaluation, VantageScore data lack full cycle testing leading to uncertainty in credit risk accounting. -
Q: George Tong asked about direct licensing program hurdles and outlook assumptions.
A: Waiting on FHFA approval, outlook assumes no volume loss to Vantage, revenue neutral between models. -
Q: Alexander Hess asked about mortgage revenue growth drivers and scores business innovation.
A: Mortgage growth due to new rate and volume, investments in innovation like Ultra FICO. -
Q: Kyle Peterson asked about software platform and non-platform trends.
A: Platform growth from new deals and migrations, customer choice in legacy vs platform use. -
Q: Craig Huber asked about VantageScore market share and 10T upfront fee change.
A: VantageScore market share trivial, upfront fee change to be competitive and encourage 10T adoption. -
Q: Ryan Griffin asked about securitization market feedback and FICO 10-T data release.
A: Securitization market not ready for Vantage, FICO 10-T data release up to FHFA, white papers available on predictiveness. -
Q: Owen Lau asked about AI disruption and predictive credit scores.
A: AI has challenges in underwriting due to regulatory and explainability issues, FICO scores more predictive, some lenders build proprietary scores on top of FICO. -
Q: Scott Wurzel asked about volume assumptions and buyback aggressiveness.
A: Volume assumptions conservative, company always interested in share repurchase, considers current stock levels opportunistic. -
Q: Kevin McVey asked about regulatory environment and mortgage market.
A: Regulatory environment in mortgage market understood, no surprises ahead. -
Q: Curtis Nagle asked about 10T uptake in nonconforming market and auto/card P loan growth.
A: 10T widely used in nonconforming market in parallel with classics, auto and card P loan volumes stable so far with no significant weakness.