FICO Announces $1B Buyback, $5.05 EPS, and 12.3% Revenue Growth in Q3 2024

FICO has announced a new stock repurchase program on July 30, 2024, approving a buyback of up to $1 billion. The company also released its Q3 2024 earnings report, revealing earnings of $5.05 per share. FICO's total revenue increased by 12.3% year-over-year, with scores revenue up by 19.6% and software revenue up by 4.8%. Despite missing on earnings per share, the company beat revenue expectations and updated its full-year guidance. FICO now expects full-year revenue to reach $1.70 billion, with GAAP net income projected at $500 million and GAAP earnings per share at $19.9. Non-GAAP net income is anticipated to be $582 million, with non-GAAP earnings per share of $23.16. Additionally, Platform ARR represented 30% of the total ARR in Q3 2024.