Fair Isaac Corporation (FICO) reported fourth-quarter fiscal 2026 revenue of $657.0 million, up 27% from $515.8 million a year earlier, after 26% growth in the third quarter and 39% growth two quarters earlier.

GAAP net income was $175.0 million, or $8.12 a share, versus $155.0 million, or $6.42 a share, a year earlier. The quarter included three one-time items: a $65 million accrual for a proposed settlement of antitrust class actions related to the Scores business, a $48 million non-operating gain on the sale of a minority equity investment, and a $27 million restructuring charge tied to a committed workforce-reduction plan.

Excluding those items, non-GAAP net income was $239.3 million and non-GAAP EPS was $11.10, versus $187.0 million and $7.74 a year earlier. Free cash flow was $284.3 million, compared with $210.8 million. Operating cash flow was $294.2 million.

Scores, the company’s B2B and B2C scoring franchise, generated $413.8 million, up 33% from $311.6 million a year earlier, after 41% growth in the third quarter and 60% growth two quarters earlier. B2B revenue increased 39%, which the company said was primarily attributable to a higher mortgage origination scores unit price, partially offset by a decline in mortgage originations volume. B2C revenue increased 3%, primarily from royalties on scores sold indirectly through credit reporting agencies.

Software revenue was $243.2 million, up 19% from $204.2 million a year earlier, after 2% growth in the third quarter and 7% growth two quarters earlier. On September 30, 2026, software annual recurring revenue was up 14% year-over-year, with platform ARR up 72% and non-platform ARR down 18%. Total software dollar-based net retention was 112%, with platform software at 156% and non-platform software at 82%.

Selling, general and administrative expense was $225.4 million in the quarter, versus $125.5 million a year earlier. Restructuring charges were $27.3 million, versus $11.0 million. Long-term debt stood at $4.92 billion at September 30, 2026, versus $2.66 billion a year earlier, and stockholders’ deficit widened to $3.87 billion from $1.75 billion.

Chief executive Will Lansing said the company was proud of its fiscal 2026 performance and that the team continued to execute despite a turbulent macro environment.

FICO said it is transitioning to bespoke mortgage originations pricing, including the FICO Preferred Program, with several deals already announced and other programs still in progress to cover calendar-year 2027. Elevated interest rates and affordability challenges, the company said, continue to weigh on the mortgage market and keep loan originations below historical norms. Because programs and agreements are still being finalized and the outcomes of those market challenges are uncertain, FICO is not providing fiscal year 2027 guidance at this time.