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Jun 30, 2023
Mitek Q3 2023 Earnings Report
Mitek reported third quarter fiscal year 2023 financial results.
Key Takeaways
Mitek's total revenue increased 10% year over year to $43.1 million. GAAP net loss was $0.4 million, or $0.01 per diluted share. Non-GAAP net income was $9.5 million, or $0.20 per diluted share.
Total revenue increased 10% year over year to $43.1 million.
GAAP net loss was $0.4 million, or $0.01 per diluted share.
Non-GAAP net income was $9.5 million, or $0.20 per diluted share.
Total cash and investments were $131.0 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 reiterating its fiscal 2023 guidance for the year ending September 30, 2023, expecting revenue to be in the range of $169.0 million to $171.0 million, an increase of approximately 18% year over year from the mid-point of the guidance range. Mitek expects its non-GAAP operating margin for fiscal 2023 to be in the range of 30.0% to 31.0%.
Positive Outlook
- Revenue to be in the range of $169.0 million to $171.0 million.
- Revenue to increase approximately 18% year over year from the mid-point of the guidance range.
- Deposits revenue to grow over 20% year over year.
- Identity revenue is on track to grow at least 18% year over year.
- 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