diff --git a/CMakeLists.txt b/CMakeLists.txt
index db96ae68..8b5d6b2c 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -17,7 +17,7 @@ endif()
 # Define the project and setup the compiler toolchain. This will establish
 # default compiler/linker flags. If the user specifies a cross-compilation
 # toolchain (-DCMAKE_TOOLCHAIN_FILE=...), it will be applied now.
-project(p1_fusion_engine_client VERSION 1.23.0)
+project(p1_fusion_engine_client VERSION 1.23.1)
 
 # Set additional compilation flags.
 if (MSVC)
diff --git a/python/fusion_engine_client/__init__.py b/python/fusion_engine_client/__init__.py
index 412ee9bb..cde67081 100644
--- a/python/fusion_engine_client/__init__.py
+++ b/python/fusion_engine_client/__init__.py
@@ -1,3 +1,3 @@
 __all__ = ['analysis', 'applications', 'messages', 'parsers', 'utils']
-__version__ = '1.23.0'
+__version__ = '1.23.1'
 __author__ = 'Point One Navigation'
diff --git a/src/point_one/fusion_engine/common/version.h b/src/point_one/fusion_engine/common/version.h
index 8225f6d3..09f7e996 100644
--- a/src/point_one/fusion_engine/common/version.h
+++ b/src/point_one/fusion_engine/common/version.h
@@ -4,7 +4,7 @@
 
 #pragma once
 
-#define P1_FUSION_ENGINE_VERSION_STRING "1.23.0"
+#define P1_FUSION_ENGINE_VERSION_STRING "1.23.1"
 #define P1_FUSION_ENGINE_VERSION_MAJOR 1
 #define P1_FUSION_ENGINE_VERSION_MINOR 23
-#define P1_FUSION_ENGINE_VERSION_PATCH 0
+#define P1_FUSION_ENGINE_VERSION_PATCH 1