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Dec 31, 2022
Mitek Q1 2023 Earnings Report
Mitek reported record revenue with a 41% year-over-year increase for the fiscal year 2023 first quarter.
Key Takeaways
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.
Total revenue increased 41% year-over-year to a record $45.7 million.
GAAP net income was $4.7 million, or $0.10 per diluted share.
Non-GAAP net income was $14.3 million, or $0.31 per diluted share.
The company is raising its fiscal 2023 guidance for the year ending September 30, 2023, and now expects revenue to be in the range of $169.0 million to $171.0 million.
Mitek
Mitek
Mitek Revenue by Segment
Revenue by Segment
Software and Hardware Revenue
CapyFin.comServices and Other Revenue
CapyFin.com Forward Guidance
Mitek is raising its fiscal 2023 guidance for the year ending September 30, 2023, and now expects revenue to be in the range of $169.0 million to $171.0 million. In addition, Mitek now expects its non-GAAP operating margin for fiscal 2023 to be in the range of 30.0% to 31.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income