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Mar 31, 2024
Mitek Q2 2024 Earnings Report
Reported fiscal year 2024 second quarter financial results and reiterated fiscal year 2024 full year guidance.
Key Takeaways
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.
Total revenue was $47.0 million, compared to $46.1 million a year ago.
GAAP operating income was $0.7 million, compared to $8.7 million a year ago.
GAAP net income was $0.3 million, or $0.01 per diluted share, compared to $5.2 million, or $0.11 per diluted share a year ago.
Total cash and investments was $130.3 million at March 31, 2024, an increase of $6.4 million from $123.9 million at December 31, 2023.
Forward Guidance
Mitek expects full-year revenue to be between $180.0 million and $185.0 million and non-GAAP operating margin for fiscal 2024 to be between 30.0% and 31.0%.
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