And our customers know it, and they love it. And we continue to spend money on innovation there. We continue to spend money, R&D, to make sure that the functionality is as good as it can possibly be. And so as Steve said, we don’t look to it as a source of growth, but it’s not shrinking either. I mean it’s a very solid business.
Steven Weber: And just one more thing to add to that. So the license deal was a renewal of a term deal. So that’s not included in the ARR. So the ARR was driven by volumes, essentially, on CCS and other — Falcon Fraud, maintenance and volume. So the license deals that — our term license deals are outside of that.
Jeffrey Meuler: Got it. And then I get that it’s early to talk ’24 pricing, but maybe if you can just talk about the ’23 experience. Like you said, the numbers speak for themselves, and they speak loudly. ’23, historically high pricing. So just what did you learn from the experience? And is there the potential that the ’23 pricing level could be the new normal going forward after you have some time under your belt on seeing how it resonated?
William Lansing: Well, I think we’ll have — it’s a little bit early to say, and we’ll have to see how things unfold. But I think that you can expect continued growth in Scores in both from — contribution from price and contribution from higher volumes that we anticipate next year.
Jeffrey Meuler: Okay. And then just last, could you just address AR, and if there was any sort of like new system you implemented, any change in payment terms or if it’s just natural variability and when you’d expect kind of the step-up in collections?
Steven Weber: Yes. It really is not. What it really comes down to, for the most part, is Scores. And we accrue the new revenue, and it takes a while for the payments to come in, right? So you’re going to get a little bit of a lag. When it jumps up that quickly, you have — your AR goes up. So I think we were asked about that even last quarter about the free cash flow. And we’re starting to see more of the free cash flow, flow through now because the AR from last quarter is flowing through today. So it does take a while for that to — because there’s such a significant uptick that it takes a while for it to flush through.
Operator: And gentlemen, your last question will come from the line of Rajiv Bhatia with Morningstar.
Rajiv Bhatia: Just on the myFICO business, which you’ve talked about being a $100 million annual business. I guess, first of all, how much of that business is kind of consumer monthly subscriptions versus consumer onetime reports? And then secondly, how do you think about pricing and pricing elasticities for the myFICO business?
Steven Weber: I mean the bulk of it is subscriber. It’s like monthly subscription. And it’s like any other product — subscription products, a little bit consumer. It depends on what you’re selling them and what’s involved when included in the package. So we have a really good team that works on that, and they do different packaging at different price points and do a lot of consumer testing. So it’s never static, it’s never 1 product at 1 price that’s automatically raised at a certain rate. It really is — it’s about understanding the consumers and what the consumers are looking for and bundling different services and products then with that and then testing different price points.
Rajiv Bhatia: And historically, how much pricing have you taken in that business?
Steven Weber: Yes, we came and looked at that way really because what we do is we end up bundling it — different products in with it at different price points. So it’s not — it’s rarely about a static product that’s sold at increased prices. It’s usually — you add more functionality to it or add different tiers with more functionality or more products or services and then you charge more for that.
William Lansing: I think what’s interesting about the business is that almost any consumer who wants to get a free FICO score today can get one. I mean, from their bank — I mean, it’s relatively easy to get your FICO score. And in spite of that, we have a lot of consumers are interested in managing it and monitoring it on a regular basis. And they come and they pay money monthly to subscribe and keep an eye on it. And obviously, these are the people who are most focused on their financial health, and it’s a good service for them. And this has been the case now for years. We’ve been providing free scores for many, many years now with Open Access, and it hasn’t hurt the myFICO business. myFICO business is very strong.
Operator: And there are no further questions. I’ll turn it back to yourselves for closing remarks. Thank you very much.
Steven Weber: Great. Thank you very much, everyone, for joining today. This does conclude our call, and we look forward to speaking with you again soon. Thanks.
Operator: And that does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your line.
