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Black Knight, Inc.

blackknightinc.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 3, 2023. Its latest SEC filing is a SC 13G/A from Feb 14, 2024.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Builds mortgage software and provides data and analytics for lenders and servicers, financial institutions and investors, and real estate professionals.

How Did They Make Money?

Mortgage software clients pay ongoing subscription fees plus fees tied to activity under long-term contracts; professional services are billed mainly by time and materials.

revenue
SegmentShareRevenue
Software solutions
79%
FY2019: 76%
Professional services
8.3%
FY2019: 11%
Data solutions
11%
FY2019: 11%
Other
1.2%
FY2019: 1.8%

Who Were Their Customers?

Sales staff work with prospective clients and existing accounts, using account managers and strategic reviews to cross-sell additional solutions.

Did Revenues Turn Into Profits?

Yes. It kept 29 cents of every revenue dollar as net income in FY2022 and turned 14 cents into free cash flow.

Operating income, FY2022
18% of revenue
▼ −8% vs FY2021 ($303M, 21%)
Net income, FY2022
29% of revenue
▲ +118% vs FY2021 ($207.9M, 14%)
Free cash flow, FY2022
14% of revenue
▼ −47% vs FY2021 ($421.4M, 29%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q3 FY2023, the three months to Sep 30, 2023
Revenue
▼ −6%
vs $291.8M in Q3 FY2022
Net income
▼ Now a loss
vs $30M in Q3 FY2022
Software solutions share of revenue vs 77.7% in Q3 FY2022
  • Sep 20, 2023 Black Knight sold its Optimal Blue and Empower businesses.
  • Sep 5, 2023 ICE completed its acquisition of Black Knight.

Grew. Revenue grew 39% in 4 years, from $1.1B in FY2018 to $1.6B in FY2022, about 9% a year.

Revenue over time
Software solutions Professional services Data solutions Other
$2B$1B$0

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