FICO Q4 Revenue Jumps 27% to $657 Million; Non-GAAP EPS Hits $11.10
Fair Isaac closed fiscal 2026 with a sharp top-line acceleration in both credit scores and software, even as one-time charges and an uncertain mortgage market kept the company from issuing next-year guidance.
Bozeman, Montana-based FICO reported revenue of $657.0 million for the fourth quarter ended Sept. 30, 2026, up 27% from $515.8 million a year earlier, according to its earnings release filed with an 8-K Wednesday. GAAP net income was $175.0 million, or $8.12 per share, versus $155.0 million, or $6.42. Non-GAAP net income was $239.3 million, and non-GAAP EPS was $11.10, up from $7.74.
GAAP results included a $65 million accrual for a proposed antitrust class-action settlement tied to the Scores business, a $48 million non-operating gain on the sale of a minority equity investment, and a $27 million restructuring charge for a workforce reduction. Those items were excluded from non-GAAP measures.
Segment drivers and cash
Scores revenue rose 33% to $413.8 million. B2B scores climbed 39% on a higher mortgage-origination unit price, partly offset by lower origination volume; B2C revenue rose 3%. Software revenue increased 19% to $243.2 million. Software ARR was up 14%, with platform ARR up 72% and non-platform ARR down 18%. Software dollar-based net retention was 112%, including 156% for platform software.
Operating cash flow was $294.2 million, and free cash flow was $284.3 million, up from $210.8 million.
CEO Will Lansing said the team executed well in a turbulent macro backdrop. Management said it is shifting toward bespoke mortgage-origination pricing, including the FICO Preferred Program, and that elevated rates and affordability challenges keep originations below historical norms. Because pricing programs are still being finalized and mortgage outcomes remain uncertain, FICO is not providing fiscal 2027 guidance.
Why it matters
FICO’s print is a story of pricing power in Scores colliding with GAAP noise and guidance silence. Retail investors who own the stock for the scores franchise will focus on the 33% Scores growth and platform software retention, while the withheld FY27 guide and antitrust accrual keep near-term forecasting harder than usual.
By the numbers
- Q4 revenue: $657.0 million, up 27%
- GAAP EPS: $8.12 (vs. $6.42)
- Non-GAAP EPS: $11.10 (vs. $7.74)
- Scores revenue: $413.8 million, up 33%
- Software revenue: $243.2 million, up 19%
- Free cash flow: $284.3 million
Sources
- FICO Form 8-K with fourth-quarter fiscal 2026 financial results, filed Nov. 4, 2026 (accession 0000814547-26-000037)
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