XML 25 R15.htm IDEA: XBRL DOCUMENT v3.22.1
Revenue from Contract with Customer
 6 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer Revenue from Contracts with Customers
Disaggregation of Revenue

The following tables provide information about disaggregated revenue by primary geographical market:

Quarter Ended March 31, 2022
ScoresSoftwareTotalPercentage
(Dollars in thousands)
Americas$175,091 $104,664 $279,755 78 %
Europe, Middle East and Africa1,252 34,128 35,380 10 %
Asia Pacific7,399 34,661 42,060 12 %
      Total$183,742 $173,453 $357,195 100 %

Quarter Ended March 31, 2021
ScoresSoftwareTotalPercentage
(Dollars in thousands)
Americas$161,787 $99,672 $261,459 79 %
Europe, Middle East and Africa5,642 44,033 49,675 15 %
Asia Pacific1,290 18,937 20,227 6 %
      Total$168,719 $162,642 $331,361 100 %
Six Months Ended March 31, 2022
ScoresSoftwareTotalPercentage
(Dollars in thousands)
Americas$340,803 $203,849 $544,652 80 %
Europe, Middle East and Africa2,745 71,526 74,271 11 %
Asia Pacific9,681 50,952 60,633 9 %
      Total$353,229 $326,327 $679,556 100 %
Six Months Ended March 31, 2021
ScoresSoftwareTotalPercentage
(Dollars in thousands)
Americas$302,500 $207,696 $510,196 79 %
Europe, Middle East and Africa7,355 87,868 95,223 15 %
Asia Pacific3,515 34,841 38,356 6 %
Total$313,370 $330,405 $643,775 100 %

The following table provides information about disaggregated revenue for our Software segment by deployment method:
Quarter Ended March 31,Percentage of revenuesSix Months Ended March 31,Percentage of revenues
20222021202220212022202120222021
(Dollars in thousands)
On-premises software$77,959 $63,431 52 %51 %$135,254 $129,913 49 %52 %
SaaS software71,129 62,120 48 %49 %140,172 122,093 51 %48 %
Total on-premises and SaaS software$149,088 $125,551 100 %100 %$275,426 $252,006 100 %100 %
The following table provides information about disaggregated revenue for our Software segment by product features:
Quarter Ended March 31,Percentage of revenuesSix Months Ended March 31,Percentage of revenues
20222021202220212022202120222021
(Dollars in thousands)
Platform software (*)$39,802 $15,312 27 %12 %$61,874 $29,437 22 %12 %
Non-platform software109,286 110,239 73 %88 %213,552 222,569 78 %88 %
Total on-premises and SaaS software$149,088 $125,551 100 %100 %$275,426 $252,006 100 %100 %
(*) The FICO platform software is a set of interoperable services which use software assets owned and/or governed by FICO for building solutions and which conform to FICO architectural standards based on key elements of Cloud Native Computing design principles. These standards encompass shared security context and pre-integration using FICO standard application programming interfaces for all services.
The following table provides information about disaggregated revenue for our Software segment by timing of revenue recognition:

Quarter Ended March 31,Percentage of revenuesSix Months Ended March 31,Percentage of revenues
20222021202220212022202120222021
(Dollars in thousands)
Software recognized at a point in time (1)
$26,540 $11,844 18 %9 %$33,699 $24,738 12 %10 %
Software recognized over contract term (2)
122,548 113,707 82 %91 %241,727 227,268 88 %90 %
Total on-premises and SaaS software$149,088 $125,551 100 %100 %$275,426 $252,006 100 %100 %
(1)Includes license portion of our on-premises subscription software and perpetual license, both of which are recognized when the software is made available to the customer, or at the start of the subscription.
(2)Includes maintenance portion and usage-based fees of our on-premises subscription software, maintenance revenue on perpetual licenses, as well as SaaS revenue.
The following table provides information about disaggregated revenue for our Scores segment by distribution method:

Quarter Ended March 31,Percentage of revenuesSix Months Ended March 31,Percentage of revenues
20222021202220212022202120222021
(Dollars in thousands)
Business-to-business Scores$125,243 $119,319 68 %71 %$238,211 $219,463 67 %70 %
Business-to-consumer Scores58,499 49,400 32 %29 %115,018 93,907 33 %30 %
     Total$183,742 $168,719 100 %100 %$353,229 $313,370 100 %100 %
We derive a substantial portion of revenues from our contracts with the three major consumer reporting agencies, TransUnion, Equifax and Experian. Revenues collectively generated by agreements with these customers accounted for 39% of our total revenues in each of the quarters ended March 31, 2022 and 2021, with all three consumer reporting agencies each contributing more than 10% of our total revenues in each of the quarters ended March 31, 2022 and 2021. Revenues collectively generated by agreements with these customers accounted for 38% and 37% of our total revenues in the six months ended March 31, 2022 and 2021, respectively, with two and three consumer reporting agencies each contributing more than 10% of our total revenues in the six months ended March 31, 2022 and 2021, respectively.
Contract Balances    
We record a receivable when we satisfy a performance obligation prior to invoicing if only the passage of time is required before payment is due or if we have an unconditional right to consideration before we satisfy a performance obligation. We record a contract asset when we satisfy a performance obligation prior to invoicing but our right to consideration is conditional. We record deferred revenue when the payment is made or due before we satisfy a performance obligation.
Receivables at March 31, 2022 and September 30, 2021 consisted of the following: 
 March 31, 2022September 30, 2021
 (In thousands)
Billed$164,659 $198,305 
Unbilled156,018 155,408 
320,677 353,713 
Less: allowance for doubtful accounts(3,780)(4,154)
Net receivables316,897 349,559 
    Less: long-term receivables (*)(43,541)(37,452)
    Short-term receivables (*)$273,356 $312,107 
(*) Short-term receivables and long-term receivables were recorded in accounts receivable, net and other assets, respectively, within the accompanying condensed consolidated balance sheets.
Deferred revenue primarily relates to our maintenance and SaaS contracts billed annually in advance and generally recognized ratably over the term of the service period. Significant changes in the deferred revenues balances are as follows:
Six Months Ended March 31,
20222021
Deferred revenues, beginning balance (*)$110,763 $122,141 
Revenue recognized that was included in the deferred revenues balance at the beginning of the period(70,160)(75,600)
Increases due to billings, excluding amounts recognized as revenue during the period66,292 78,945 
Reclassified as liabilities related to assets held for sale— (16,508)
Deferred revenues, ending balance (*)$106,895 $108,978 
(*) Deferred revenues at March 31, 2022 included current portion of $102.5 million and long-term portion of $4.4 million that were recorded in deferred revenue and other liabilities, respectively, within the condensed consolidated balance sheets. Deferred revenues at September 30, 2021 included current portion of $105.4 million and long-term portion of $5.4 million that were recorded in deferred revenue and other liabilities, respectively, within the condensed consolidated balance sheets.
Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. In instances where the timing of revenue recognition differs from the timing of invoicing, we have determined our contracts generally do not include a significant financing component. The primary purpose of our invoicing terms is to provide customers with simplified and predictable ways of purchasing our products and services, not to provide customers with financing or to receive financing from our customers. Examples include multi-year on-premises licenses that are invoiced annually with revenue recognized upfront and invoicing at the beginning of a subscription term with revenue recognized ratably over the contract period.
Performance Obligations
Revenue allocated to remaining performance obligations represents contracted revenue that will be recognized in future periods, which is comprised of deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. This does not include:
•Usage-based revenue that will be recognized in future periods from on-premises software subscriptions;
•Consumption-based variable fees from SaaS software that will be recognized in the distinct service period during which it is earned; and
•Revenue from variable considerations that will be recognized in accordance with the “right-to-invoice” practical expedient, such as fees from our professional services billed based on a time and materials basis.
Revenue allocated to remaining performance obligations was $291.7 million as of March 31, 2022, approximately 52% of which we expect to recognize over the next 16 months and the remainder thereafter. Revenue allocated to remaining performance obligations was $289.0 million as of September 30, 2021.