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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fair Isaac Inc | NYSE:FICO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
27.66 | 2.37% | 1,193.01 | 1,204.54 | 1,176.4319 | 1,182.34 | 182,907 | 01:00:00 |
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 94-1499887 | |||||||
(State or other jurisdiction of | (I.R.S. Employer | |||||||
incorporation or organization) | Identification No.) | |||||||
181 Metro Drive, Suite 700 | 95110-1346 | |||||||
San Jose, | California | |||||||
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Common Stock, $0.01 par value per share | FICO | New York Stock Exchange |
Large accelerated filer | ☒ | Accelerated filer |
☐
|
||||||||
Non-accelerated filer |
☐
|
Smaller reporting company |
☐
|
||||||||
Emerging growth company |
☐
|
☐
|
Yes |
☒
|
No |
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
March 31,
2021 |
September 30, 2020 | ||||||||||
(In thousands, except par value data) | |||||||||||
Assets | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | 197,836 | $ | 157,394 | |||||||
Accounts receivable, net | 264,804 | 334,180 | |||||||||
Prepaid expenses and other current assets | 40,335 | 42,504 | |||||||||
Assets held for sale | 48,843 | — | |||||||||
Total current assets | 551,818 | 534,078 | |||||||||
Marketable securities | 30,437 | 25,513 | |||||||||
Other investments | 1,340 | 1,060 | |||||||||
Property and equipment, net | 34,897 | 46,419 | |||||||||
Operating lease right-of-use assets | 50,986 | 57,656 | |||||||||
Goodwill | 789,123 | 812,364 | |||||||||
Intangible assets, net | 7,437 | 9,236 | |||||||||
Deferred income taxes | 15,003 | 14,629 | |||||||||
Other assets | 98,567 | 105,285 | |||||||||
Total assets | $ | 1,579,608 | $ | 1,606,240 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ | 19,767 | $ | 23,033 | |||||||
Accrued compensation and employee benefits | 71,347 | 117,952 | |||||||||
Other accrued liabilities | 60,062 | 63,367 | |||||||||
Deferred revenue | 100,396 | 115,159 | |||||||||
Current maturities on debt | 225,000 | 95,000 | |||||||||
Liabilities related to assets held for sale | 23,989 | — | |||||||||
Total current liabilities | 500,561 | 414,511 | |||||||||
Long-term debt | 740,226 | 739,435 | |||||||||
Operating lease liabilities | 59,100 | 73,207 | |||||||||
Other liabilities | 56,418 | 48,005 | |||||||||
Total liabilities | 1,356,305 | 1,275,158 | |||||||||
Commitments and contingencies | |||||||||||
Stockholders’ equity: | |||||||||||
Preferred stock ($0.01 par value; 1,000 shares authorized; none issued and outstanding)
|
— | — | |||||||||
Common stock ($0.01 par value; 200,000 shares authorized, 88,857 shares issued and 28,829 and 29,096 shares outstanding at March 31, 2021 and September 30, 2020, respectively)
|
288 | 291 | |||||||||
Additional paid-in-capital | 1,181,692 | 1,218,583 | |||||||||
Treasury stock, at cost (60,028 and 59,761 shares at March 31, 2021 and September 30, 2020, respectively)
|
(3,239,109) | (2,997,856) | |||||||||
Retained earnings | 2,348,225 | 2,193,059 | |||||||||
Accumulated other comprehensive loss | (67,793) | (82,995) | |||||||||
Total stockholders’ equity | 223,303 | 331,082 | |||||||||
Total liabilities and stockholders’ equity | $ | 1,579,608 | $ | 1,606,240 |
Quarter Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||
Revenues: | |||||||||||||||||||||||
Transactional and maintenance | $ | 280,919 | $ | 240,702 | $ | 533,069 | $ | 461,076 | |||||||||||||||
Professional services | 37,794 | 47,905 | 79,219 | 91,930 | |||||||||||||||||||
License | 12,648 | 19,364 | 31,487 | 53,469 | |||||||||||||||||||
Total revenues | 331,361 | 307,971 | 643,775 | 606,475 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Cost of revenues | 88,333 | 88,139 | 177,861 | 178,897 | |||||||||||||||||||
Research and development | 43,612 | 39,439 | 84,263 | 78,382 | |||||||||||||||||||
Selling, general and administrative | 97,272 | 103,465 | 191,183 | 215,486 | |||||||||||||||||||
Amortization of intangible assets | 945 | 1,202 | 1,882 | 2,998 | |||||||||||||||||||
Restructuring and impairment charges | — | — | — | 3,104 | |||||||||||||||||||
Gain on sale of product line assets | — | — | (7,334) | — | |||||||||||||||||||
Total operating expenses | 230,162 | 232,245 | 447,855 | 478,867 | |||||||||||||||||||
Operating income | 101,199 | 75,726 | 195,920 | 127,608 | |||||||||||||||||||
Interest expense, net | (9,943) | (11,254) | (19,584) | (21,022) | |||||||||||||||||||
Other income (expense), net | 568 | (2,008) | 3,448 | (2,227) | |||||||||||||||||||
Income before income taxes | 91,824 | 62,464 | 179,784 | 104,359 | |||||||||||||||||||
Income tax provision (benefit) | 23,150 | 4,176 | 24,618 | (8,850) | |||||||||||||||||||
Net income | 68,674 | 58,288 | 155,166 | 113,209 | |||||||||||||||||||
Other comprehensive gain (loss): | |||||||||||||||||||||||
Foreign currency translation adjustments | (1,846) | (19,056) | 15,202 | (4,964) | |||||||||||||||||||
Comprehensive income | $ | 66,828 | $ | 39,232 | $ | 170,368 | $ | 108,245 | |||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | 2.36 | $ | 2.00 | $ | 5.33 | $ | 3.89 | |||||||||||||||
Diluted | $ | 2.33 | $ | 1.94 | $ | 5.23 | $ | 3.76 | |||||||||||||||
Shares used in computing earnings per share: | |||||||||||||||||||||||
Basic | 29,087 | 29,194 | 29,107 | 29,109 | |||||||||||||||||||
Diluted | 29,531 | 29,985 | 29,660 | 30,076 |
Common Stock |
Additional
Paid-in-Capital |
Treasury Stock | Retained Earnings |
Accumulated Other
Comprehensive Loss |
Total
Stockholders’ Equity |
||||||||||||||||||||||||||||||||||||
(In thousands) | Shares | Par Value | |||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2020 | 29,236 | $ | 292 | $ | 1,145,893 | $ | (3,035,668) | $ | 2,279,551 | $ | (65,947) | $ | 324,121 | ||||||||||||||||||||||||||||
Share-based compensation | — | — | 28,206 | — | — | — | 28,206 | ||||||||||||||||||||||||||||||||||
Issuance of treasury stock under employee stock plans | 34 | — | 7,593 | 1,766 | — | — | 9,359 | ||||||||||||||||||||||||||||||||||
Repurchases of common stock | (441) | (4) | — | (205,207) | — | — | (205,211) | ||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 68,674 | — | 68,674 | ||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | — | — | — | — | (1,846) | (1,846) | ||||||||||||||||||||||||||||||||||
Balance at March 31, 2021 | 28,829 | $ | 288 | $ | 1,181,692 | $ | (3,239,109) | $ | 2,348,225 | $ | (67,793) | $ | 223,303 | ||||||||||||||||||||||||||||
Common Stock |
Additional
Paid-in-Capital |
Treasury Stock | Retained Earnings |
Accumulated Other
Comprehensive Loss |
Total
Stockholders’ Equity |
||||||||||||||||||||||||||||||||||||
(In thousands) | Shares | Par Value | |||||||||||||||||||||||||||||||||||||||
Balance at December 31, 2019 | 29,186 | $ | 292 | $ | 1,148,190 | $ | (2,843,097) | $ | 2,011,569 | $ | (75,993) | $ | 240,961 | ||||||||||||||||||||||||||||
Share-based compensation | — | — | 22,788 | — | — | — | 22,788 | ||||||||||||||||||||||||||||||||||
Issuance of treasury stock under employee stock plans | 186 | 2 | (1,761) | 8,930 | — | — | 7,171 | ||||||||||||||||||||||||||||||||||
Repurchases of common stock | (290) | (3) | — | (95,998) | — | — | (96,001) | ||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 58,288 | — | 58,288 | ||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | — | — | — | — | (19,056) | (19,056) | ||||||||||||||||||||||||||||||||||
Balance at March 31, 2020 | 29,082 | $ | 291 | $ | 1,169,217 | $ | (2,930,165) | $ | 2,069,857 | $ | (95,049) | $ | 214,151 | ||||||||||||||||||||||||||||
Common Stock |
Additional
Paid-in-Capital |
Treasury Stock | Retained Earnings |
Accumulated Other
Comprehensive Loss |
Total
Stockholders’ Equity |
||||||||||||||||||||||||||||||||||||
(In thousands) | Shares | Par Value | |||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2020 | 29,096 | $ | 291 | $ | 1,218,583 | $ | (2,997,856) | $ | 2,193,059 | $ | (82,995) | $ | 331,082 | ||||||||||||||||||||||||||||
Share-based compensation | — | — | 53,338 | — | — | — | 53,338 | ||||||||||||||||||||||||||||||||||
Issuance of treasury stock under employee stock plans | 275 | 2 | (90,229) | 13,964 | — | — | (76,263) | ||||||||||||||||||||||||||||||||||
Repurchases of common stock | (542) | (5) | — | (255,217) | — | — | (255,222) | ||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 155,166 | — | 155,166 | ||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | — | — | — | — | 15,202 | 15,202 | ||||||||||||||||||||||||||||||||||
Balance at March 31, 2021 | 28,829 | $ | 288 | $ | 1,181,692 | $ | (3,239,109) | $ | 2,348,225 | $ | (67,793) | $ | 223,303 | ||||||||||||||||||||||||||||
Common Stock |
Additional
Paid-in-Capital |
Treasury Stock | Retained Earnings |
Accumulated Other
Comprehensive Loss |
Total
Stockholders’ Equity |
||||||||||||||||||||||||||||||||||||
(In thousands) | Shares | Par Value | |||||||||||||||||||||||||||||||||||||||
Balance at September 30, 2019 | 28,944 | $ | 289 | $ | 1,225,365 | $ | (2,802,450) | $ | 1,956,648 | $ | (90,085) | $ | 289,767 | ||||||||||||||||||||||||||||
Share-based compensation | — | — | 45,933 | — | — | — | 45,933 | ||||||||||||||||||||||||||||||||||
Issuance of treasury stock under employee stock plans | 596 | 6 | (102,081) | 28,291 | — | — | (73,784) | ||||||||||||||||||||||||||||||||||
Repurchases of common stock | (458) | (4) | — | (156,006) | — | — | (156,010) | ||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | 113,209 | — | 113,209 | ||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | — | — | — | — | (4,964) | (4,964) | ||||||||||||||||||||||||||||||||||
Balance at March 31, 2020 | 29,082 | $ | 291 | $ | 1,169,217 | $ | (2,930,165) | $ | 2,069,857 | $ | (95,049) | $ | 214,151 |
Six Months Ended March 31, | |||||||||||
2021 | 2020 | ||||||||||
(In thousands) | |||||||||||
Cash flows from operating activities: | |||||||||||
Net income | $ | 155,166 | $ | 113,209 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 13,701 | 15,535 | |||||||||
Share-based compensation | 53,338 | 45,933 | |||||||||
Deferred income taxes | (287) | (1,213) | |||||||||
Net (gain) loss on marketable securities | (2,669) | 2,526 | |||||||||
Non-cash operating lease costs | 8,005 | 10,000 | |||||||||
Provision for doubtful accounts, net | 266 | 2,459 | |||||||||
Net loss on sales and abandonment of property and equipment | 96 | 59 | |||||||||
Gain on sale of product line assets | (7,334) | — | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | 64,304 | (13,823) | |||||||||
Prepaid expenses and other assets | 4,572 | (19,656) | |||||||||
Accounts payable | (3,695) | 1,833 | |||||||||
Accrued compensation and employee benefits | (46,147) | (37,339) | |||||||||
Other liabilities | (9,989) | (4,659) | |||||||||
Deferred revenue | 2,143 | 6,995 | |||||||||
Net cash provided by operating activities | 231,470 | 121,859 | |||||||||
Cash flows from investing activities: | |||||||||||
Purchases of property and equipment | (4,220) | (13,166) | |||||||||
Proceeds from sales of marketable securities | 2,264 | 3,385 | |||||||||
Purchases of marketable securities | (4,379) | (5,232) | |||||||||
Proceeds from sale of product line assets | 8,291 | — | |||||||||
(Purchase of) distribution from equity investment | (210) | 55 | |||||||||
Net cash provided by (used in) investing activities | 1,746 | (14,958) | |||||||||
Cash flows from financing activities: | |||||||||||
Proceeds from revolving line of credit | 251,000 | 156,000 | |||||||||
Payments on revolving line of credit | (121,000) | (377,000) | |||||||||
Proceeds from issuance of senior notes | — | 350,000 | |||||||||
Payments on debt issuance costs | — | (6,840) | |||||||||
Payments on finance leases | (176) | (712) | |||||||||
Proceeds from issuance of treasury stock under employee stock plans | 10,390 | 23,216 | |||||||||
Taxes paid related to net share settlement of equity awards | (86,653) | (97,000) | |||||||||
Repurchases of common stock | (250,356) | (148,008) | |||||||||
Net cash used in financing activities | (196,795) | (100,344) | |||||||||
Effect of exchange rate changes on cash | 4,021 | (4,017) | |||||||||
Increase in cash and cash equivalents | 40,442 | 2,540 | |||||||||
Cash and cash equivalents, beginning of period | 157,394 | 106,426 | |||||||||
Cash and cash equivalents, end of period | $ | 197,836 | $ | 108,966 | |||||||
Supplemental disclosures of cash flow information: | |||||||||||
Cash paid for income taxes, net of refunds of $288 and $1,538 during the six months ended March 31, 2021, and 2020, respectively
|
$ | 18,131 | $ | 4,475 | |||||||
Cash paid for interest | $ | 18,488 | $ | 16,181 | |||||||
Supplemental disclosures of non-cash investing and financing activities: | |||||||||||
Purchase of property and equipment included in accounts payable | $ | 388 | $ | 1,920 | |||||||
Unsettled repurchases of common stock | $ | 4,866 | $ | 8,002 | |||||||
Finance lease obligations incurred | $ | — | $ | 5,148 |
March 31, 2021 |
Active Markets for
Identical Instruments (Level 1) |
Fair Value as of March 31, 2021 | |||||||||
(In thousands) | |||||||||||
Assets: | |||||||||||
Cash equivalents (1)
|
$ | 194 | $ | 194 | |||||||
Marketable securities (2)
|
30,437 | 30,437 | |||||||||
Total | $ | 30,631 | $ | 30,631 | |||||||
September 30, 2020 |
Active Markets for
Identical Instruments (Level 1) |
Fair Value as of September 30, 2020 | |||||||||
(In thousands) | |||||||||||
Assets: | |||||||||||
Cash equivalents (1)
|
$ | 35,275 | $ | 35,275 | |||||||
Marketable securities (2)
|
25,513 | 25,513 | |||||||||
Total | $ | 60,788 | $ | 60,788 |
March 31, 2021 | ||||||||||||||||||||
Contract Amount | Fair Value | |||||||||||||||||||
Foreign
Currency |
USD | USD | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Sell foreign currency: | ||||||||||||||||||||
Euro (EUR) | EUR | 19,200 | $ | 22,643 | $ | — | ||||||||||||||
Buy foreign currency: | ||||||||||||||||||||
British pound (GBP) | GBP | 14,780 | $ | 20,400 | $ | — | ||||||||||||||
Singapore dollar (SGD) | SGD | 5,790 | $ | 4,300 | $ | — |
September 30, 2020 | ||||||||||||||||||||
Contract Amount | Fair Value | |||||||||||||||||||
Foreign
Currency |
USD | USD | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Sell foreign currency: | ||||||||||||||||||||
Euro (EUR) | EUR | 15,000 | $ | 17,656 | $ | — | ||||||||||||||
Buy foreign currency: | ||||||||||||||||||||
British pound (GBP) | GBP | 16,555 | $ | 21,300 | $ | — | ||||||||||||||
Singapore dollar (SGD) | SGD | 7,815 | $ | 5,700 | $ | — |
Quarter Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Gains (losses) on foreign currency forward contracts | $ | 1,229 | $ | (2,194) | $ | 2,915 | $ | (1,049) |
Quarter Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Completed technology | $ | 323 | $ | 463 | $ | 645 | $ | 1,038 | |||||||||||||||
Customer contracts and relationships | 578 | 658 | 1,149 | 1,798 | |||||||||||||||||||
Trade names | — | 38 | — | 75 | |||||||||||||||||||
Non-compete agreements | 44 | 43 | 88 | 87 | |||||||||||||||||||
Total | $ | 945 | $ | 1,202 | $ | 1,882 | $ | 2,998 |
Year Ending September 30, | (In thousands) | ||||
2021 (excluding the six months ended March 31, 2021) | $ | 1,804 | |||
2022 | 3,400 | ||||
2023 | 1,316 | ||||
2024 | 917 | ||||
Total | $ | 7,437 |
Applications | Scores | Decision Management Software | Total | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Balance at September 30, 2020 | $ | 596,804 | $ | 146,648 | $ | 68,912 | $ | 812,364 | |||||||||||||||
Foreign currency translation adjustment | 3,679 | — | 1,040 | 4,719 | |||||||||||||||||||
Reclassified as assets held for sale | (27,960) | — | — | (27,960) | |||||||||||||||||||
Balance at March 31, 2021 | $ | 572,523 | $ | 146,648 | $ | 69,952 | $ | 789,123 |
March 31,
2021 |
September 30,
2020 |
||||||||||
(In thousands) | |||||||||||
Property and equipment, net: | |||||||||||
Property and equipment | $ | 154,749 | $ | 161,119 | |||||||
Less: accumulated depreciation and amortization | (119,852) | (114,700) | |||||||||
Total | $ | 34,897 | $ | 46,419 | |||||||
Other assets: | |||||||||||
Long-term receivables | $ | 45,994 | $ | 54,074 | |||||||
Prepaid commissions | 40,598 | 38,579 | |||||||||
Others | 11,975 | 12,632 | |||||||||
Total | $ | 98,567 | $ | 105,285 | |||||||
March 31, 2021 | September 30, 2020 | ||||||||||||||||||||||
Face Value (*) | Fair Value | Face Value (*) | Fair Value | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
The 2018 Senior Notes | 400,000 | 442,000 | 400,000 | 442,000 | |||||||||||||||||||
The 2019 Senior Notes | 350,000 | 357,000 | 350,000 | 358,750 | |||||||||||||||||||
Total | $ | 750,000 | $ | 799,000 | $ | 750,000 | $ | 800,750 |
Quarter Ended March 31, | Six Months Ended March 31, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||
Numerator for diluted and basic earnings per share: | |||||||||||||||||||||||
Net income | $ | 68,674 | $ | 58,288 | $ | 155,166 | $ | 113,209 | |||||||||||||||
Denominator - share: | |||||||||||||||||||||||
Basic weighted-average shares | 29,087 | 29,194 | 29,107 | 29,109 | |||||||||||||||||||
Effect of dilutive securities | 444 | 791 | 553 | 967 | |||||||||||||||||||
Diluted weighted-average shares | 29,531 | 29,985 | 29,660 | 30,076 | |||||||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | 2.36 | $ | 2.00 | $ | 5.33 | $ | 3.89 | |||||||||||||||
Diluted | $ | 2.33 | $ | 1.94 | $ | 5.23 | $ | 3.76 |
Quarter Ended March 31, 2021 | |||||||||||||||||||||||||||||
Applications | Scores | Decision Management Software |
Unallocated
Corporate Expenses |
Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Segment revenues: | |||||||||||||||||||||||||||||
Transactional and maintenance | $ | 96,687 | $ | 167,212 | $ | 17,020 | $ | — | $ | 280,919 | |||||||||||||||||||
Professional services | 27,627 | 703 | 9,464 | — | 37,794 | ||||||||||||||||||||||||
License | 5,200 | 804 | 6,644 | — | 12,648 | ||||||||||||||||||||||||
Total segment revenues | 129,514 | 168,719 | 33,128 | — | 331,361 | ||||||||||||||||||||||||
Segment operating expense | (102,142) | (22,177) | (43,300) | (33,392) | (201,011) | ||||||||||||||||||||||||
Segment operating income (loss) | $ | 27,372 | $ | 146,542 | $ | (10,172) | $ | (33,392) | 130,350 | ||||||||||||||||||||
Unallocated share-based compensation expense | (28,206) | ||||||||||||||||||||||||||||
Unallocated amortization expense | (945) | ||||||||||||||||||||||||||||
Operating income | 101,199 | ||||||||||||||||||||||||||||
Unallocated interest expense, net | (9,943) | ||||||||||||||||||||||||||||
Unallocated other income, net | 568 | ||||||||||||||||||||||||||||
Income before income taxes | $ | 91,824 | |||||||||||||||||||||||||||
Depreciation expense | $ | 4,110 | $ | 167 | $ | 902 | $ | 45 | $ | 5,224 |
Quarter Ended March 31, 2020 | |||||||||||||||||||||||||||||
Applications | Scores | Decision Management Software |
Unallocated
Corporate Expenses |
Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Segment revenues: | |||||||||||||||||||||||||||||
Transactional and maintenance | $ | 97,789 | $ | 127,610 | $ | 15,303 | $ | — | $ | 240,702 | |||||||||||||||||||
Professional services | 35,134 | 819 | 11,952 | — | 47,905 | ||||||||||||||||||||||||
License | 7,356 | 719 | 11,289 | — | 19,364 | ||||||||||||||||||||||||
Total segment revenues | 140,279 | 129,148 | 38,544 | — | 307,971 | ||||||||||||||||||||||||
Segment operating expense | (111,456) | (15,660) | (47,354) | (33,785) | (208,255) | ||||||||||||||||||||||||
Segment operating income (loss) | $ | 28,823 | $ | 113,488 | $ | (8,810) | $ | (33,785) | 99,716 | ||||||||||||||||||||
Unallocated share-based compensation expense | (22,788) | ||||||||||||||||||||||||||||
Unallocated amortization expense | (1,202) | ||||||||||||||||||||||||||||
Operating income | 75,726 | ||||||||||||||||||||||||||||
Unallocated interest expense, net | (11,254) | ||||||||||||||||||||||||||||
Unallocated other expense, net | (2,008) | ||||||||||||||||||||||||||||
Income before income taxes | $ | 62,464 | |||||||||||||||||||||||||||
Depreciation expense | $ | 4,553 | $ | 141 | $ | 1,158 | $ | 108 | $ | 5,960 |
Six Months Ended March 31, 2021 | |||||||||||||||||||||||||||||
Applications | Scores | Decision Management Software |
Unallocated
Corporate Expenses |
Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Segment revenues: | |||||||||||||||||||||||||||||
Transactional and maintenance | $ | 194,418 | $ | 305,802 | $ | 32,849 | $ | — | $ | 533,069 | |||||||||||||||||||
Professional services | 58,232 | 820 | 20,167 | — | 79,219 | ||||||||||||||||||||||||
License | 12,225 | 6,748 | 12,514 | — | 31,487 | ||||||||||||||||||||||||
Total segment revenues | 264,875 | 313,370 | 65,530 | — | 643,775 | ||||||||||||||||||||||||
Segment operating expense | (202,001) | (43,803) | (90,520) | (63,645) | (399,969) | ||||||||||||||||||||||||
Segment operating income (loss) | $ | 62,874 | $ | 269,567 | $ | (24,990) | $ | (63,645) | 243,806 | ||||||||||||||||||||
Unallocated share-based compensation expense | (53,338) | ||||||||||||||||||||||||||||
Unallocated amortization expense | (1,882) | ||||||||||||||||||||||||||||
Unallocated gain on sale of product line assets | 7,334 | ||||||||||||||||||||||||||||
Operating income | 195,920 | ||||||||||||||||||||||||||||
Unallocated interest expense, net | (19,584) | ||||||||||||||||||||||||||||
Unallocated other income, net | 3,448 | ||||||||||||||||||||||||||||
Income before income taxes | $ | 179,784 | |||||||||||||||||||||||||||
Depreciation expense | $ | 8,484 | $ | 361 | $ | 1,886 | $ | 78 | $ | 10,809 | |||||||||||||||||||
Six Months Ended March 31, 2020 | |||||||||||||||||||||||||||||
Applications | Scores | Decision Management Software |
Unallocated
Corporate Expenses |
Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Segment revenues: | |||||||||||||||||||||||||||||
Transactional and maintenance | $ | 196,626 | $ | 235,056 | $ | 29,394 | $ | — | $ | 461,076 | |||||||||||||||||||
Professional services | 69,157 | 1,083 | 21,690 | — | 91,930 | ||||||||||||||||||||||||
License | 26,674 | 8,147 | 18,648 | — | 53,469 | ||||||||||||||||||||||||
Total segment revenues | 292,457 | 244,286 | 69,732 | — | 606,475 | ||||||||||||||||||||||||
Segment operating expense | (227,466) | (33,372) | (97,999) | (67,995) | (426,832) | ||||||||||||||||||||||||
Segment operating income (loss) | $ | 64,991 | $ | 210,914 | $ | (28,267) | $ | (67,995) | 179,643 | ||||||||||||||||||||
Unallocated share-based compensation expense | (45,933) | ||||||||||||||||||||||||||||
Unallocated amortization expense | (2,998) | ||||||||||||||||||||||||||||
Unallocated restructuring and impairment charges | (3,104) | ||||||||||||||||||||||||||||
Operating income | 127,608 | ||||||||||||||||||||||||||||
Unallocated interest expense, net | (21,022) | ||||||||||||||||||||||||||||
Unallocated other expense, net | (2,227) | ||||||||||||||||||||||||||||
Income before income taxes | $ | 104,359 | |||||||||||||||||||||||||||
Depreciation expense | $ | 8,902 | $ | 257 | $ | 2,144 | $ | 333 | $ | 11,636 | |||||||||||||||||||
Quarter Ended March 31, 2021 | |||||||||||||||||||||||||||||
Reportable Segments | On-Premises | SaaS | Scores | Total | Percentage | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Applications | $ | 66,182 | $ | 63,332 | $ | — | $ | 129,514 | 39 | % | |||||||||||||||||||
Scores | — | — | 168,719 | 168,719 | 51 | % | |||||||||||||||||||||||
Decision Management Software | 22,287 | 10,841 | — | 33,128 | 10 | % | |||||||||||||||||||||||
Total | $ | 88,469 | $ | 74,173 | $ | 168,719 | $ | 331,361 | 100 | % |
Quarter Ended March 31, 2020 | |||||||||||||||||||||||||||||
Reportable Segments | On-Premises | SaaS | Scores | Total | Percentage | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Applications | $ | 76,341 | $ | 63,938 | $ | — | $ | 140,279 | 46 | % | |||||||||||||||||||
Scores | — | — | 129,148 | 129,148 | 42 | % | |||||||||||||||||||||||
Decision Management Software | 28,847 | 9,697 | — | 38,544 | 12 | % | |||||||||||||||||||||||
Total | $ | 105,188 | $ | 73,635 | $ | 129,148 | $ | 307,971 | 100 | % |
Six Months Ended March 31, 2021 | |||||||||||||||||||||||||||||
Reportable Segments | On-Premises | SaaS | Scores | Total | Percentage | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Applications | $ | 137,402 | $ | 127,473 | $ | — | $ | 264,875 | 41 | % | |||||||||||||||||||
Scores | — | — | 313,370 | 313,370 | 49 | % | |||||||||||||||||||||||
Decision Management Software | 45,065 | 20,465 | — | 65,530 | 10 | % | |||||||||||||||||||||||
Total | $ | 182,467 | $ | 147,938 | $ | 313,370 | $ | 643,775 | 100 | % | |||||||||||||||||||
Six Months Ended March 31, 2020 | |||||||||||||||||||||||||||||
Reportable Segments | On-Premises | SaaS | Scores | Total | Percentage | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Applications | $ | 162,319 | $ | 130,138 | $ | — | $ | 292,457 | 48 | % | |||||||||||||||||||
Scores | — | — | 244,286 | 244,286 | 40 | % | |||||||||||||||||||||||
Decision Management Software | 52,526 | 17,206 | — | 69,732 | 12 | % | |||||||||||||||||||||||
Total | $ | 214,845 | $ | 147,344 | $ | 244,286 | $ | 606,475 | 100 | % | |||||||||||||||||||
Quarter Ended March 31, 2021 | |||||||||||||||||||||||||||||
Reportable Segments | North America | Latin America | Europe, Middle East and Africa | Asia Pacific | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Applications | $ | 70,117 | $ | 9,112 | $ | 34,913 | $ | 15,372 | $ | 129,514 | |||||||||||||||||||
Scores | 159,047 | 2,740 | 5,642 | 1,290 | 168,719 | ||||||||||||||||||||||||
Decision Management Software | 17,514 | 2,929 | 9,120 | 3,565 | 33,128 | ||||||||||||||||||||||||
Total | $ | 246,678 | $ | 14,781 | $ | 49,675 | $ | 20,227 | $ | 331,361 |
Quarter Ended March 31, 2020 | |||||||||||||||||||||||||||||
Reportable Segments | North America | Latin America | Europe, Middle East and Africa | Asia Pacific | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Applications | $ | 78,900 | $ | 9,672 | $ | 34,271 | $ | 17,436 | $ | 140,279 | |||||||||||||||||||
Scores | 123,249 | 2,619 | 1,720 | 1,560 | 129,148 | ||||||||||||||||||||||||
Decision Management Software | 21,007 | 5,917 | 6,920 | 4,700 | 38,544 | ||||||||||||||||||||||||
Total | $ | 223,156 | $ | 18,208 | $ | 42,911 | $ | 23,696 | $ | 307,971 |
Six Months Ended March 31, 2021 | |||||||||||||||||||||||||||||
Reportable Segments | North America | Latin America | Europe, Middle East and Africa | Asia Pacific | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Applications | $ | 149,454 | $ | 18,339 | $ | 70,170 | $ | 26,912 | $ | 264,875 | |||||||||||||||||||
Scores | 299,457 | 3,043 | 7,355 | 3,515 | 313,370 | ||||||||||||||||||||||||
Decision Management Software | 34,061 | 5,842 | 17,698 | 7,929 | 65,530 | ||||||||||||||||||||||||
Total | $ | 482,972 | $ | 27,224 | $ | 95,223 | $ | 38,356 | $ | 643,775 | |||||||||||||||||||
Six Months Ended March 31, 2020 | |||||||||||||||||||||||||||||
Reportable Segments | North America | Latin America | Europe, Middle East and Africa | Asia Pacific | Total | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Applications | $ | 164,366 | $ | 19,189 | $ | 74,055 | $ | 34,847 | $ | 292,457 | |||||||||||||||||||
Scores | 233,446 | 2,903 | 3,258 | 4,679 | 244,286 | ||||||||||||||||||||||||
Decision Management Software | 36,594 | 10,250 | 14,185 | 8,703 | 69,732 | ||||||||||||||||||||||||
Total | $ | 434,406 | $ | 32,342 | $ | 91,498 | $ | 48,229 | $ | 606,475 | |||||||||||||||||||
March 31,
2021 |
September 30,
2020 |
||||||||||
(In thousands) | |||||||||||
Billed | $ | 155,838 | $ | 211,776 | |||||||
Unbilled | 159,891 | 181,550 | |||||||||
315,729 | 393,326 | ||||||||||
Less: allowance for doubtful accounts | (4,931) | (5,072) | |||||||||
Net receivables | 310,798 | 388,254 | |||||||||
Less: long-term receivables * | (45,994) | (54,074) | |||||||||
Short-term receivables * | $ | 264,804 | 334,180 |
Six Months Ended
March 31, 2021 |
|||||
(In thousands) | |||||
Deferred revenues at September 30, 2020 * | $ | 122,141 | |||
Revenue recognized that was included in the deferred revenues balance at the beginning of the period | (75,600) | ||||
Increases due to billings, excluding amounts recognized as revenue during the period | 78,945 | ||||
Reclassified as liabilities related to assets held for sale | $ | (16,508) | |||
Deferred revenues at March 31, 2021 * | $ | 108,978 |
March 31, 2021 | |||||
(In thousands) | |||||
Assets: | |||||
Accounts receivable, net | $ | 18,310 | |||
Property and equipment, net | 312 | ||||
Goodwill | 27,960 | ||||
Operating lease right-of-use assets | 2,261 | ||||
Total assets held for sale | $ | 48,843 | |||
Liabilities: | |||||
Accounts payable | $ | 99 | |||
Accrued compensation and employee benefits | 2,131 | ||||
Deferred revenue | 16,508 | ||||
Operating lease liabilities | 5,251 | ||||
Total liabilities related to assets held for sale | $ | 23,989 |
Bookings |
Bookings
Yield (1)
|
Number of
Bookings over $1 Million |
Weighted-
Average
Term (2)
|
||||||||||||||||||||
(In millions) | (Months) | ||||||||||||||||||||||
Quarter Ended March 31, 2021 | $ | 84.0 | 10 | % | 13 | 34 | |||||||||||||||||
Quarter Ended March 31, 2020 | $ | 84.1 | 14 | % | 15 | 35 | |||||||||||||||||
Six Months Ended March 31, 2021 | $ | 152.1 | 17 | % | 24 |
NM(a)
|
|||||||||||||||||
Six Months Ended March 31, 2020 | $ | 196.2 | 23 | % | 40 |
NM(a)
|
Quarter Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Transactional and maintenance | $ | 96,687 | $ | 97,789 | $ | (1,102) | (1) | % | |||||||||||||||
Professional services | 27,627 | 35,134 | (7,507) | (21) | % | ||||||||||||||||||
License | 5,200 | 7,356 | (2,156) | (29) | % | ||||||||||||||||||
Total | $ | 129,514 | $ | 140,279 | (10,765) | (8) | % |
Quarter Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Transactional and maintenance | $ | 167,212 | $ | 127,610 | $ | 39,602 | 31 | % | |||||||||||||||
Professional services | 703 | 819 | (116) | (14) | % | ||||||||||||||||||
License | 804 | 719 | 85 | 12 | % | ||||||||||||||||||
Total | $ | 168,719 | $ | 129,148 | 39,571 | 31 | % |
Quarter Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Transactional and maintenance | $ | 17,020 | $ | 15,303 | $ | 1,717 | 11 | % | |||||||||||||||
Professional services | 9,464 | 11,952 | (2,488) | (21) | % | ||||||||||||||||||
License | 6,644 | 11,289 | (4,645) | (41) | % | ||||||||||||||||||
Total | $ | 33,128 | $ | 38,544 | (5,416) | (14) | % |
Six Months Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Transactional and maintenance | $ | 194,418 | $ | 196,626 | $ | (2,208) | (1) | % | |||||||||||||||
Professional services | 58,232 | 69,157 | (10,925) | (16) | % | ||||||||||||||||||
License | 12,225 | 26,674 | (14,449) | (54) | % | ||||||||||||||||||
Total | $ | 264,875 | $ | 292,457 | (27,582) | (9) | % |
Six Months Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Transactional and maintenance | $ | 305,802 | $ | 235,056 | $ | 70,746 | 30 | % | |||||||||||||||
Professional services | 820 | 1,083 | (263) | (24) | % | ||||||||||||||||||
License | 6,748 | 8,147 | (1,399) | (17) | % | ||||||||||||||||||
Total | $ | 313,370 | $ | 244,286 | 69,084 | 28 | % |
Six Months Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Transactional and maintenance | $ | 32,849 | $ | 29,394 | $ | 3,455 | 12 | % | |||||||||||||||
Professional services | 20,167 | 21,690 | (1,523) | (7) | % | ||||||||||||||||||
License | 12,514 | 18,648 | (6,134) | (33) | % | ||||||||||||||||||
Total | $ | 65,530 | $ | 69,732 | (4,202) | (6) | % |
Quarter Ended March 31, | Percentage of Revenues | Period-to-Period Change |
Period-to-
Period Percentage Change |
||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
(In thousands, except
employees) |
(In thousands,
except employees) |
||||||||||||||||||||||||||||||||||
Revenues | $ | 331,361 | $ | 307,971 | 100 | % | 100 | % | $ | 23,390 | 8 | % | |||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||
Cost of revenues | 88,333 | 88,139 | 27 | % | 29 | % | 194 | — | % | ||||||||||||||||||||||||||
Research and development | 43,612 | 39,439 | 13 | % | 13 | % | 4,173 | 11 | % | ||||||||||||||||||||||||||
Selling, general and administrative | 97,272 | 103,465 | 29 | % | 33 | % | (6,193) | (6) | % | ||||||||||||||||||||||||||
Amortization of intangible assets | 945 | 1,202 | — | % | — | % | (257) | (21) | % | ||||||||||||||||||||||||||
Total operating expenses | 230,162 | 232,245 | 69 | % | 75 | % | (2,083) | (1) | % | ||||||||||||||||||||||||||
Operating income | 101,199 | 75,726 | 31 | % | 25 | % | 25,473 | 34 | % | ||||||||||||||||||||||||||
Interest expense, net | (9,943) | (11,254) | (3) | % | (4) | % | 1,311 | (12) | % | ||||||||||||||||||||||||||
Other income (expense), net | 568 | (2,008) | — | % | (1) | % | 2,576 | (128) | % | ||||||||||||||||||||||||||
Income before income taxes | 91,824 | 62,464 | 28 | % | 20 | % | 29,360 | 47 | % | ||||||||||||||||||||||||||
Income tax provision | 23,150 | 4,176 | 7 | % | 1 | % | 18,974 | 454 | % | ||||||||||||||||||||||||||
Net income | $ | 68,674 | $ | 58,288 | 21 | % | 19 | % | 10,386 | 18 | % | ||||||||||||||||||||||||
Number of employees at quarter end | 3,953 | 4,029 | (76) | (2) | % |
Six Months Ended March 31, | Percentage of Revenues | Period-to-Period Change |
Period-to-
Period Percentage Change |
||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||
Revenues | $ | 643,775 | $ | 606,475 | 100 | % | 100 | % | $ | 37,300 | 6 | % | |||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||
Cost of revenues | 177,861 | 178,897 | 28 | % | 29 | % | (1,036) | (1) | % | ||||||||||||||||||||||||||
Research and development | 84,263 | 78,382 | 13 | % | 13 | % | 5,881 | 8 | % | ||||||||||||||||||||||||||
Selling, general and administrative | 191,183 | 215,486 | 30 | % | 36 | % | (24,303) | (11) | % | ||||||||||||||||||||||||||
Amortization of intangible assets | 1,882 | 2,998 | — | % | — | % | (1,116) | (37) | % | ||||||||||||||||||||||||||
Restructuring and impairment charges | — | 3,104 | — | % | 1 | % | (3,104) | (100) | % | ||||||||||||||||||||||||||
Gain on sale of product line assets | (7,334) | — | (1) | % | — | % | (7,334) | — | % | ||||||||||||||||||||||||||
Total operating expenses | 447,855 | 478,867 | 70 | % | 79 | % | (31,012) | (6) | % | ||||||||||||||||||||||||||
Operating income | 195,920 | 127,608 | 30 | % | 21 | % | 68,312 | 54 | % | ||||||||||||||||||||||||||
Interest expense, net | (19,584) | (21,022) | (3) | % | (3) | % | 1,438 | (7) | % | ||||||||||||||||||||||||||
Other income (expense), net | 3,448 | (2,227) | 1 | % | — | % | 5,675 | (255) | % | ||||||||||||||||||||||||||
Income before income taxes | 179,784 | 104,359 | 28 | % | 18 | % | 75,425 | 72 | % | ||||||||||||||||||||||||||
Income tax provision (benefit) | 24,618 | (8,850) | 4 | % | (1) | % | 33,468 | (378) | % | ||||||||||||||||||||||||||
Net income | $ | 155,166 | $ | 113,209 | 24 | % | 19 | % | 41,957 | 37 | % | ||||||||||||||||||||||||
Quarter Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
Segment | 2021 | 2020 | |||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Applications | $ | 27,372 | $ | 28,823 | $ | (1,451) | (5) | % | |||||||||||||||
Scores | 146,542 | 113,488 | 33,054 | 29 | % | ||||||||||||||||||
Decision Management Software | (10,172) | (8,810) | (1,362) | 15 | % | ||||||||||||||||||
Corporate expenses | (33,392) | (33,785) | 393 | (1) | % | ||||||||||||||||||
Total segment operating income | 130,350 | 99,716 | 30,634 | 31 | % | ||||||||||||||||||
Unallocated share-based compensation | (28,206) | (22,788) | (5,418) | 24 | % | ||||||||||||||||||
Unallocated amortization expense | (945) | (1,202) | 257 | (21) | % | ||||||||||||||||||
Operating income | $ | 101,199 | $ | 75,726 | 25,473 | 34 | % | ||||||||||||||||
Six Months Ended March 31, | Period-to-Period Change |
Period-to-Period
Percentage Change |
|||||||||||||||||||||
Segment | 2021 | 2020 | |||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||
Applications | $ | 62,874 | $ | 64,991 | $ | (2,117) | (3) | % | |||||||||||||||
Scores | 269,567 | 210,914 | 58,653 | 28 | % | ||||||||||||||||||
Decision Management Software | (24,990) | (28,267) | 3,277 | (12) | % | ||||||||||||||||||
Corporate expenses | (63,645) | (67,995) | 4,350 | (6) | % | ||||||||||||||||||
Total segment operating income | 243,806 | 179,643 | 64,163 | 36 | % | ||||||||||||||||||
Unallocated share-based compensation | (53,338) | (45,933) | (7,405) | 16 | % | ||||||||||||||||||
Unallocated amortization expense | (1,882) | (2,998) | 1,116 | (37) | % | ||||||||||||||||||
Unallocated restructuring and impairment charges | — | (3,104) | 3,104 | (100) | % | ||||||||||||||||||
Unallocated gain on sale of product line assets | 7,334 | — | 7,334 | — | % | ||||||||||||||||||
Operating income | $ | 195,920 | $ | 127,608 | 68,312 | 54 | % |
Quarter Ended
March 31, |
Percentage of
Revenues |
Six Months Ended
March 31, |
Percentage of
Revenues |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
Segment revenues | $ | 129,514 | $ | 140,279 | 100 | % | 100 | % | $ | 264,875 | $ | 292,457 | 100 | % | 100 | % | |||||||||||||||||||||||||||||||
Segment operating expense | (102,142) | (111,456) | (79) | % | (79) | % | (202,001) | (227,466) | (76) | % | (78) | % | |||||||||||||||||||||||||||||||||||
Segment operating income | $ | 27,372 | $ | 28,823 | 21 | % | 21 | % | $ | 62,874 | $ | 64,991 | 24 | % | 22 | % |
Quarter Ended
March 31, |
Percentage of
Revenues |
Six Months Ended
March 31, |
Percentage of
Revenues |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
Segment revenues | $ | 168,719 | $ | 129,148 | 100 | % | 100 | % | $ | 313,370 | $ | 244,286 | 100 | % | 100 | % | |||||||||||||||||||||||||||||||
Segment operating expense | (22,177) | (15,660) | (13) | % | (12) | % | (43,803) | (33,372) | (14) | % | (14) | % | |||||||||||||||||||||||||||||||||||
Segment operating income | $ | 146,542 | $ | 113,488 | 87 | % | 88 | % | $ | 269,567 | $ | 210,914 | 86 | % | 86 | % |
Quarter Ended
March 31, |
Percentage of
Revenues |
Six Months Ended
March 31, |
Percentage of
Revenues |
||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||
Segment revenues | $ | 33,128 | $ | 38,544 | 100 | % | 100 | % | $ | 65,530 | $ | 69,732 | 100 | % | 100 | % | |||||||||||||||||||||||||||||||
Segment operating expense | (43,300) | (47,354) | (131) | % | (123) | % | (90,520) | (97,999) | (138) | % | (141) | % | |||||||||||||||||||||||||||||||||||
Segment operating loss | $ | (10,172) | $ | (8,810) | (31) | % | (23) | % | $ | (24,990) | $ | (28,267) | (38) | % | (41) | % |
Six Months Ended March 31, | Period-to-Period Change | ||||||||||||||||
2021 | 2020 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Cash provided by (used in): | |||||||||||||||||
Operating activities | $ | 231,470 | $ | 121,859 | $ | 109,611 | |||||||||||
Investing activities | 1,746 | (14,958) | 16,704 | ||||||||||||||
Financing activities | (196,795) | (100,344) | (96,451) | ||||||||||||||
Effect of exchange rate changes on cash | 4,021 | (4,017) | 8,038 | ||||||||||||||
Increase in cash and cash equivalents | $ | 40,442 | $ | 2,540 | 37,902 |
March 31, 2021 | September 30, 2020 | ||||||||||||||||||||||||||||||||||
Cost
Basis |
Carrying
Amount |
Average
Yield |
Cost
Basis |
Carrying
Amount |
Average
Yield |
||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 197,836 | $ | 197,836 | 0.02 | % | $ | 157,394 | $ | 157,394 | 0.05 | % |
March 31, 2021 | September 30, 2020 | ||||||||||||||||||||||
Face Value (*) | Fair Value | Face Value (*) | Fair Value | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
The 2018 Senior Notes | 400,000 | 442,000 | 400,000 | 442,000 | |||||||||||||||||||
The 2019 Senior Notes | 350,000 | 357,000 | 350,000 | 358,750 | |||||||||||||||||||
Total | $ | 750,000 | $ | 799,000 | $ | 750,000 | $ | 800,750 |
March 31, 2021 | ||||||||||||||||||||
Contract Amount | Fair Value | |||||||||||||||||||
Foreign
Currency |
USD | USD | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Sell foreign currency: | ||||||||||||||||||||
Euro (EUR) | EUR | 19,200 | $ | 22,643 | $ | — | ||||||||||||||
Buy foreign currency: | ||||||||||||||||||||
British pound (GBP) | GBP | 14,780 | $ | 20,400 | $ | — | ||||||||||||||
Singapore dollar (SGD) | SGD | 5,790 | $ | 4,300 | $ | — | ||||||||||||||
September 30, 2020 | ||||||||||||||||||||
Contract Amount | Fair Value | |||||||||||||||||||
Foreign
Currency |
USD | USD | ||||||||||||||||||
(In thousands) | ||||||||||||||||||||
Sell foreign currency: | ||||||||||||||||||||
Euro (EUR) | EUR | 15,000 | $ | 17,656 | $ | — | ||||||||||||||
Buy foreign currency: | ||||||||||||||||||||
British pound (GBP) | GBP | 16,555 | $ | 21,300 | $ | — | ||||||||||||||
Singapore dollar (SGD) | SGD | 7,815 | $ | 5,700 | $ | — |
Period |
Total
Number of
Shares
Purchased (1)
|
Average
Price Paid per Share |
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans
or Programs (2)
|
Maximum Dollar
Value of Shares
that May Yet Be
Purchased Under
the Plans or
Programs (2)
|
|||||||||||||||||||
January 1, 2021 through January 31, 2021 | 1,207 | $ | 378.14 | — | $ | 174,777,136 | |||||||||||||||||
February 1, 2021 through February 28, 2021 | 240,540 | $ | 466.57 | 240,000 | $ | 62,806,464 | |||||||||||||||||
March 1, 2021 through March 31, 2021 | 200,901 | $ | 464.74 | 200,588 | $ | 471,322,083 | |||||||||||||||||
442,648 | $ | 465.50 | 440,588 | $ | 471,322,083 |
Exhibit
Number
|
Description | |||||||
3.1 | ||||||||
3.2 | ||||||||
10.1 | ||||||||
10.2 * | ||||||||
10.3 * | ||||||||
10.4 * | ||||||||
10.5 * | ||||||||
10.6 * | ||||||||
10.7 * | ||||||||
31.1 * | ||||||||
31.2 * | ||||||||
32.1 * | ||||||||
32.2 * | ||||||||
101.INS * | Inline XBRL Instance Document. | |||||||
101.SCH * | Inline XBRL Taxonomy Extension Schema Document. | |||||||
101.CAL * | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | |||||||
101.DEF * | Inline XBRL Taxonomy Extension Definition Linkbase Document. | |||||||
101.LAB * | Inline XBRL Taxonomy Extension Label Linkbase Document. | |||||||
101.PRE * | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |||||||
104 * | Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). |
* | Filed herewith. |
FAIR ISAAC CORPORATION | |||||||||||
DATE: | May 5, 2021 | ||||||||||
By | /s/ MICHAEL I. MCLAUGHLIN | ||||||||||
Michael I. McLaughlin | |||||||||||
Executive Vice President and Chief Financial Officer | |||||||||||
(for Registrant as duly authorized officer and | |||||||||||
as Principal Financial Officer) | |||||||||||
DATE: | May 5, 2021 | ||||||||||
By | /s/ MICHAEL S. LEONARD | ||||||||||
Michael S. Leonard | |||||||||||
Vice President and Chief Accounting Officer
(Principal Accounting Officer) |
1 Year Fair Isaac Chart |
1 Month Fair Isaac Chart |
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