Equinix Q1 2026 Earnings Report Highlights AI Spending and Capex Plans

FICO outlook for mortgage revenue growth in Q2 2026

1) What FICO actually reported in Q2 2026 (mortgage-related revenue growth)

In Q2 2026, FICO’s mortgage originations revenues were up 127% year over year. ¹
FICO also states that mortgage originations revenues accounted for 63% of total Scores revenue and 72% of B2B revenue in the quarter. ¹

Implication for “outlook”: the transcript provides strong actual performance for mortgage revenue in Q2, but it does not give a separate forward-looking growth rate specifically labeled “mortgage revenue growth in Q2 2026.” Instead, management’s forward tone is captured through (a) conservative guidance assumptions and (b) comments about revenue timing effects (see below). ²

2) The closest “outlook” guidance signal: conservative score-volume assumptions + timing lag

Management indicates that guidance includes conservative score volumes. ¹
They also explain that guidance builds in lag/timing, assuming a performance model go-live, which can push some revenue from late fiscal 2026 into early fiscal 2027. ²

How this relates to mortgage revenue growth expectations for Q2 2026: the key driver of short-term uncertainty is score volume and go-live/timing, not a change in mortgage credit product demand. In other words, FICO expects the mortgage-related revenue picture to remain tied to mortgage originations volume and the modeled timing of when certain revenue streams are recognized. ²¹

3) Why mortgage revenue growth was strong: volume + pricing dynamics

In discussion of the quarter, management acknowledges a “decent volume growth” environment, referencing a period when interest rates dropped and resulting uptick consistent with “what you hear from the bureaus,” while also noting they guide conservatively because the numbers are hard to predict. ³
They also emphasize that B2B growth was attributable to higher mortgage origination scores unit price and increased volume of mortgage origination. ¹

Implication: investors should think of mortgage revenue growth as a combination of:

• mortgage originations volume (affected by rates and market activity), ³
• and unit economics (including unit price changes tied to product/pricing). ¹

How recent guidance changes might impact investor expectations

1) FICO raised full-year guidance entering Q3 2026 (a positive expectation revision)

FICO stated that it is raising full-year guidance as it enters the third quarter, with revenue guidance now $2.45 billion, an increase of 23% vs. prior year. ⁴
Management also raised GAAP net income guidance to $825 million (GAAP EPS $35.60). ⁴
Non-GAAP net income guidance was raised to $946 million (non-GAAP EPS $40.45). ⁴

Investor-expectations impact: Raising full-year growth targets generally increases confidence in the sustainability of underlying demand and revenue capture, including mortgage-related scores where mortgage originations are the dominant component of mortgage-driven B2B and total Scores revenue. ¹

2) But guidance conservatism + timing lag can temper what investors extrapolate to Q2 mortgage growth

Despite raising guidance, management repeatedly flags that guidance assumes conservative score volumes. ¹
They also emphasize built-in lag from model go-live timing that can shift revenue recognition across fiscal periods. ²

Investor-expectations impact: even with a guidance increase, the market may interpret near-term “run-rate” expectations cautiously because some revenue effects depend on when performance-model-related adoption/go-live occurs (which can move revenue between late FY and early FY). ²

3) Guidance changes are still consistent with no expected vertical share/volume loss (supporting expectations)

Management reiterates that it does not anticipate share loss competition in any vertical. ¹
They also state they expect no loss of volume to Vantage in this fiscal year, describing the per-score vs performance-model funding fee timing differences as “pretty close to a wash.” ⁵

Investor-expectations impact: this reduces the risk premium investors might assign to mortgage-score share erosion, supporting a view that guidance changes reflect volume/usage rather than expected displacement by competitors. ¹⁵

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Bottom line

• Mortgage-related revenue growth in Q2 2026 was +127% YoY, and mortgage originations were 63% of total Scores revenue (and 72% of B2B) in the quarter. ¹
• For the outlook framed in guidance, FICO emphasizes conservative score-volume assumptions and a timing lag tied to performance model go-live that can shift revenue across fiscal periods. ²¹
• Guidance increases (raised full-year revenue to $2.45B, +23% YoY) are likely to lift investor expectations broadly, but management’s caveats about conservative volumes and revenue timing can temper how aggressively investors forecast near-term mortgage revenue run-rate. ⁴²¹

If you want the outlook specifically expressed as a Q2 2026 forward growth rate for mortgage revenue (e.g., “expected +X% YoY in Q2”), the provided excerpts do not contain a quantified forward mortgage-revenue growth number for Q2 2026—only the reported Q2 2026 result and the qualitative guidance framework. ²¹