Fair Isaac Corporation (NYSE:FICO) Q4 2019 Earnings Conference Call - Final Transcript
Nov 04, 2019 • 05:00 pm ET
Greetings and welcome to the Fair Isaac Corporation Quarterly Earnings Call. During the presentation all participants will be in a listen-only mode. (Operator Instructions) As a reminder, this conference is being recorded today Monday, November 4, 2019.
I would now like to turn the conference over to Steve Weber, please go ahead.
Thank you, Dave. Good afternoon everyone and thank you for joining FICO's fourth quarter earnings Call. I'm Steve Weber, Vice President of Investor Relations. And I'm joined today by our CEO, Will Lansing and our CFO, Mike McLaughlin. Today, we issued a press release that describes financial results compared to the prior year. On this call, management will also discuss results in comparison to the prior quarter in order to facilitate understanding of the run rate of our business.
Certain statements made in this presentation may be characterized as forward-looking under the Private Securities Litigation Reform Act of 1995. Those statements involve many uncertainties that could cause actual results to differ materially. Information concerning these uncertainties is contained in the company's filings with the SEC, in particular, in the Risk Factors and Forward-Looking Statements portions of such filings. Copies are available from the SEC, from the FICO website or from our Investor Relations team.
This call will also include statements regarding certain non-GAAP financial measures. Please refer to the company's earnings release and Regulation G schedule issued today for a reconciliation of each of these non-GAAP financial measures to the most comparable GAAP measure.
The earnings release and Regulation G schedule are available on the Investor Relations page of the company's website at fico.com or on the SEC's website at sec.gov. A replay of this webcast will be available through November 4, 2020.
And now I'll turn the call over to Will Lansing.
Thank you Steve. I'm pleased to report we delivered another very solid quarter, which capped off a remarkable fiscal 2019. In our four quarter, we reported revenues of $305 million, an increase of 19% over the same period last year. For the full fiscal year, we recorded $1.16 billion of revenue, up 16% from 2018. We delivered $55 million of GAAP net income, up 67%, and GAAP earnings of $1.80 per share, up 69%. On a non-GAAP basis, the $2.01 earnings per share was up 50% from last year. And we delivered free cash flow growth as well, up 69% from fiscal '18.
I'm particularly pleased with the breadth and strength in our business. Our Scores business has been growing very well for the past several years, but we were also able to deliver double-digit growth in our software business this year. We'll have some difficult comps in software next year as we project less upfront license and more ratable revenue, but we're steadily building a growing stream of predictable recurring revenue.
In our application segment, we had a particularly strong year with our fraud and compliance solutions with both up double-digit over the previous year.
We delivered 8% growth overall in the segment, which had