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Mar 31, 2020
Mitek Q2 2020 Earnings Report
Reported record revenue with significantly improved profitability and solid cash flow generation.
Key Takeaways
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.
Total revenue increased by 16% 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.
Total cash and investments were $42.5 million at the end of the fiscal second quarter.
Mitek
Mitek
Mitek Revenue by Segment
Revenue by Segment
Software and Hardware Revenue
CapyFin.comServices and Other Revenue
CapyFin.com Forward Guidance
Due to the uncertainty of the full impact of the COVID-19 pandemic on the economy, its customers and its business, Mitek is withdrawing its previously provided guidance for the fiscal year 2020 ending September 30, 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income