Equifax Credits AI Tools for Record $1.6 Billion Quarter

Equifax delivered record first-quarter revenue, driven in part by artificial intelligence-powered new product innovation, the company said in a Tuesday (April 21) earnings release.

The global data, analytics and technology company’s gains were also driven by 38% growth in U.S. mortgage revenue, primarily in January and February before the Iran war drove up interest rates, and 6% growth in local currency in its Diversified Markets business, according to the release.

These contributed to the company’s first quarter reported revenue reaching $1.649 billion, which was up 14% year over year, per the release.

Equifax gauges its new product innovation with a Vitality Index, which is the company’s metric defined as the percentage of revenue that is derived from new products introduced in the current year and the previous three years, per an earnings review presentation released Tuesday. In the first quarter, the Vitality Index hit 17%, outpacing Equifax’s long-term target of 10%, the release said.

The company said this growth was powered by its Equifax Cloud, EFX.AI and proprietary data.

“The team also continued to execute very well against our EFX 2028 strategic priorities in the quarter by leveraging EFX.AI-based solutions built on our cloud-native infrastructure to drive innovation, new products and growth,” Equifax CEO Mark W. Begor said Tuesday during an earnings call. “In the first quarter, our Vitality Index of 17% was at record levels and reflects the focused execution of our teams in driving customer-focused growth through accelerated innovation based on advanced EFX.AI, leveraging our proprietary data assets.”

Equifax has 400 pending or granted AI-based patents, including more than 40 EFX.AI-based patents added in 2025 and another 10 added in the first quarter, Begor said. He said the company continues to “invest in differentiated, explainable AI capabilities.”

The company’s most recent product introductions include The Work Number Record Indicator for auto or personal loans, which provides income and employment insights alongside a consumer credit report for the loan application process, and Optimal Path, which is an interactive credit score planner offered to U.S. consumers through the myEquifax app.

“The new Equifax is leveraging the Equifax Cloud, EFX.AI and proprietary data assets to accelerate innovation and help our customers grow,” Begor said during the call.