Mitek Q3 2020 Earnings Report

Reported record revenue with significant increases in both GAAP and non-GAAP net income.

Key Takeaways

Mitek reported record revenue for the third quarter of fiscal year 2020, with a 16% year-over-year increase to $25.4 million. GAAP net income was $1.3 million, or $0.03 per diluted share, while non-GAAP net income increased 43% year over year to $6.8 million, or $0.16 per diluted share.

Total revenue increased 16% year over year to $25.4 million in a record quarter.

GAAP net income was $1.3 million, or $0.03 per diluted share.

Non-GAAP net income increased 43% year over year to $6.8 million, or $0.16 per diluted share.

Total cash and investments were $52.2 million at the end of the fiscal third quarter.

Total Revenue

$25.4M

Previous year: $21.9M