An asset that has a significant value but has no physical presence and provides a business long-term financial value is called an "intangible asset." Identifiable intangible assets are those that the company can market separately, that can be separated from other assets, and that can be identified. Examples of distinguishable intangible assets include intellectual property, including patents, trademarks, and copyrights, as well as non-cash government grants, such as airport landing rights or broadcasting licenses. A trademark is a sign that can be used to separate the products or services of one company from those of other companies. Intellectual property rights offer protection for trademarks. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
The gross value of intangible assets of Fair Isaac dipped by 14%, from $83.76 million in FY2020 to $71.81 million in FY2021. The company's intangible assets had a net value of $4.10 million in FY2021. Based on the company's valuation of the fair value of identified intangible assets, Customer contracts and relationships, and Completed Technology amounted to $13.72 million, and $71.81 million, respectively. Intangible asset amortization costs for the company in FY2021 were $3.26 million.
Revenues from the scores segment increased by $125.6 million in fiscal 2021 compared to fiscal 2020, with $64.6 million coming from business-to-business scores and $61.0 million coming from business-to-consumer scores. Increased unit prices across numerous business-to-business services and higher volumes were the main causes of the growth in business-to-business scores revenue.
Fair Isaac Corp (FICO) is a provider of analytics software solutions and services. The company provides advisory services, analytics, customer communications, collections and recovery, compliance, decision management, fraud, and customer management. It also offers collection optimization, security, small business, and consumer credit scores, and account origination management solutions and applications. It serves to telecommunications, media and entertainment, energy and utilities, insurance, healthcare, retail and e-commerce, collection agencies, banking, government, healthcare, and transportation industries. The company supplies through direct sales teams, system integrators, subsidiary sales organizations, data providers, processors, technology providers, and service providers. It offers solutions under FICO, TRAID, Falcon, Siron, UltraFICO, and myFICO brand names.
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