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Mar 31
Mitek Q2 2025 Earnings Report
Reported Record Fiscal 2025 Second Quarter Financial Results
Key Takeaways
Mitek Systems reported record revenue and profitability in the second quarter of fiscal 2025, with strong SaaS revenue growth. The company also secured a term loan facility to retire its 2026 Convertible Notes and raised its adjusted EBITDA margin guidance for fiscal 2025.
Achieved all-time record revenue of $51.9 million in Q2 fiscal 2025.
Reported record profitability with GAAP net income of $9.2 million and Non-GAAP net income of $16.7 million.
SaaS revenue increased by 15% year-over-year.
Raised adjusted EBITDA margin guidance range for fiscal 2025 to 26%-29%.
Mitek
Mitek
Mitek Revenue by Segment
Revenue by Segment
Software and Hardware Revenue
CapyFin.comServices and Other Revenue
CapyFin.com Forward Guidance
Mitek is maintaining its fiscal 2025 full-year revenue guidance and raising its fiscal 2025 full-year adjusted EBITDA margin guidance range.
Positive Outlook
- Maintaining fiscal 2025 full-year revenue guidance of $170 million to $180 million.
- Raising fiscal 2025 full-year adjusted EBITDA margin guidance range by 100 basis points.
- New adjusted EBITDA margin guidance range of 26%-29%.
- Secured a new $75 million term loan facility.
- Intends to utilize term loan and cash to retire outstanding Convertible Notes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income