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Dec 31, 2019
Mitek Q1 2020 Earnings Report
Mitek reported a record first quarter with significant increase in non-GAAP net income.
Key Takeaways
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.
Total revenue increased 25% year over year to $22.1 million in a record first quarter.
GAAP net income was $0.6 million, or $0.01 per diluted share.
Non-GAAP net income was $5.0 million, or $0.12 per diluted share, an increase of 377% year over year.
Cash flow from operations was $5.2 million.
Forward Guidance
For the fiscal year ending September 30, 2020, the company is reiterating its previously provided guidance for full year total revenue to be between $98 million and $102 million, which would represent growth of approximately 16% to 21% year over year. The company expects to generate a non-GAAP operating margin of approximately 20% to 22%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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