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Dec 31, 2020
Mitek Q1 2021 Earnings Report
Mitek reported record first quarter results with revenue growth driven by identity verification.
Key Takeaways
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.
Total revenue increased by 18% year-over-year to $26.0 million.
GAAP net income was $2.2 million, or $0.05 per diluted share.
Non-GAAP net income increased 23% year-over-year to $6.2 million, or $0.14 per diluted share.
Cash flow from operations was $8.7 million.
Forward Guidance
No forward guidance was provided in the press release.
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