Mitek Earnings Reports

Mitek Systems reported record revenue and profitability in the second quarter of fiscal 2025, with strong SaaS revenue growth. The company also secured a term loan facility to retire its 2026 Convertible Notes and raised its adjusted EBITDA margin guidance for fiscal 2025.

Mitek reported relatively flat revenue year-over-year at $37.3 million, with SaaS products growing 29%. The company's GAAP net loss was $4.6 million, improved from a $5.8 million loss the previous year. Mitek raised the lower end of its Adjusted EBITDA margin guidance range for fiscal 2025.

Mitek reported a solid fourth quarter with a 15% year-over-year revenue increase, driven by the team's hard work and operational focus. The company is focused on driving efficient revenue growth and advancing AI-driven solutions to address growing fraud threats.

Mitek reported a 4% year-over-year increase in total revenue, driven by Deposits, but experienced challenges in Identity product revenue. The company is revising its full-year revenue guidance to $169 million - $173 million and Non-GAAP operating margin to 23% - 25%.

Mitek reported total revenue of $47.0 million, a GAAP operating income of $0.7 million, and a GAAP net income of $0.3 million, or $0.01 per diluted share, for the second quarter ended March 31, 2024. The company reiterated its fiscal year 2024 guidance.

Mitek reported a decrease in total revenue to $36.9 million compared to $45.7 million year over year. The company experienced a GAAP operating loss of $6.9 million and a GAAP net loss of $5.8 million, or negative $0.13 per diluted share, a stark contrast to the previous year's profits. They reiterated the full year guidance.

Mitek reported a 5% decrease in total revenue for Q4 2023, amounting to $37.7 million, along with a GAAP net loss of $1.4 million, or $0.03 per diluted share. Non-GAAP net income decreased by 30% year over year to $6.9 million, or $0.15 per diluted share. However, the company's fiscal year 2023 saw record revenue and profitability, with total revenue increasing by 19% to $172.6 million.

Mitek's total revenue increased 10% year over year to $43.1 million. GAAP net loss was $0.4 million, or $0.01 per diluted share. Non-GAAP net income was $9.5 million, or $0.20 per diluted share.

Mitek's fiscal year 2023 first quarter saw record revenue, up 41% year-over-year to $45.7 million. This growth was driven by a large, multi-year mobile deposit contract and strong performance in both the Identity and Deposits segments. The company is raising its fiscal year 2023 revenue guidance.

Mitek Systems, Inc. reported financial results for both its fourth quarter and fiscal 2022 full year ended September 30, 2022. Total revenue for the full year fiscal 2022 increased 20% year over year, driven by additional revenue as a result of the acquisition of HooYu Ltd., as well as increased demand for both Mitek’s digital identity verification and deposits solutions.

Mitek reported a record third quarter with total revenue increasing by 24% year over year to $39.3 million. The company launched MiVIP, a new identity verification platform, during the quarter.

Mitek reported a record second quarter with a 21% increase in total revenue year over year, reaching $34.7 million. The company's GAAP net income increased by 88% to $1.9 million, or $0.04 per diluted share, and non-GAAP net income increased by 49% to $10.8 million, or $0.24 per diluted share. Mitek also completed the acquisition of HooYu, expanding its digital identity offering.

Mitek reported a record $33.3 million in revenue for Q4 2021, a 9% increase year-over-year. GAAP net income was $2.2 million, or $0.05 per diluted share, and non-GAAP net income was $10.1 million, or $0.22 per diluted share. Cash flow from operations was $12.3 million, and total cash and investments were $227.4 million at the end of the quarter.

Mitek reported record revenue for Q3 2021, with a 25% increase year-over-year. The growth was fueled by strong performance in both identity verification and deposit solutions. The company also acquired ID R&D and introduced Check Fraud Defender during the quarter.

Mitek reported a strong second quarter with total revenue increasing by 24% year-over-year to $28.8 million, driven by growth in both mobile deposit and identity verification solutions. The company's GAAP net income was $1.0 million, or $0.02 per diluted share, while non-GAAP net income increased 34% year-over-year to $7.3 million, or $0.16 per diluted share.

Mitek reported an 18% year-over-year increase in total revenue, reaching $26.0 million in Q1 2021. This growth was fueled by a 40% increase in identity verification revenue and increasing demand for mobile deposit solutions.

Mitek reported a record fourth quarter and full year, driven by increased demand for mobile deposit and identity verification capabilities. Total fourth quarter revenue increased 22% year over year, and full year revenue increased 20% year over year.

Mitek reported record revenue for the third quarter of fiscal year 2020, with a 16% year-over-year increase to $25.4 million. GAAP net income was $1.3 million, or $0.03 per diluted share, while non-GAAP net income increased 43% year over year to $6.8 million, or $0.16 per diluted share.

Mitek reported a record second quarter with a 16% increase in revenue and a significant increase in non-GAAP net income. Total revenue increased by $3.2 million year over year to $23.2 million. GAAP net income was $0.9 million, or $0.02 per diluted share. Non-GAAP net income was $5.4 million, or $0.13 per diluted share, an increase of 98% year over year.

Mitek reported a record first quarter with a 25% increase in total revenue year over year to $22.1 million. GAAP net income was $0.6 million, or $0.01 per diluted share, and non-GAAP net income was $5.0 million, or $0.12 per diluted share, an increase of 377% year over year.