FICO Announces Chief Financial Officer Transition 1

Global analytics software company FICO announced that Steve Weber has been appointed the company’s interim chief financial officer. Weber succeeds Michael McLaughlin, who has held the post since August 2019, and is leaving effective January 13 for a new professional opportunity at an enterprise software company. FICO will retain a leading global executive search firm to recruit a permanent CFO.

“Steve is an accomplished executive with a track record of solid performance across all the major finance, accounting and investor relations functions at FICO”

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Weber joined FICO in 2003, and currently serves as the company’s vice president – treasurer, tax and investor relations. During his nearly 20-year career at FICO, he has served as head of FP&A and has led several public bond issuances, managed syndicated bank lending, stewarded due diligence and integration for mergers and acquisitions and guided strategic financial planning.

“Steve is an accomplished executive with a track record of solid performance across all the major finance, accounting and investor relations functions at FICO,” said Will Lansing, FICO’s chief executive officer. “Steve has earned the respect and confidence of the investor community over many years. His knowledge of FICO’s business and nearly two decades of experience across related functions, coupled with our deep bench of talented finance leaders, will support the continued execution of our financial priorities as we conduct a search for our next CFO.

I would also like to thank Mike for his leadership and stewardship over the past three years. We wish him well in his next role.

In fiscal year 2022, FICO reported record revenues, GAAP net income, free cash flow and market capitalization and we remain confident in our outlook.”

The company will release its results for the first quarter of fiscal 2023 in late January. FICO is reiterating its previously issued guidance for fiscal 2023, which was provided on November 9, 2022, adjusted for the transition of its Siron compliance solutions to partner IMTF, as announced on November 15, 2022.

Original Fiscal 2023
Guidance

Adjustment for Siron
Compliance Transition

Updated Fiscal 2023
Guidance

Revenues

$1.475 billion

($0.012 billion)

$1.463 billion

GAAP Net Income

$401 million

$401 million

GAAP EPS

$16.00

$16.00

Non GAAP Net Income

$487 million

$487 million

Non GAAP EPS

$19.42

$19.42

The Non-GAAP financial measures are described in the financial table below captioned “Reconciliation of Non-GAAP Guidance.”

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