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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.
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%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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