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Sep 30, 2020
Mitek Q4 2020 Earnings Report
Mitek reported record financial results driven by increased demand for mobile deposit and identity verification.
Key Takeaways
Mitek reported a record fourth quarter and full year, driven by increased demand for mobile deposit and identity verification capabilities. Total fourth quarter revenue increased 22% year over year, and full year revenue increased 20% year over year.
Total revenue increased 22% year over year to $30.6 million in a record quarter.
GAAP net income was $5.0 million, or $0.12 per diluted share.
Non-GAAP net income increased 31% year over year to a record $11.4 million, or $0.26 per diluted share.
Total cash and investments were $62.0 million at the end of the fiscal fourth quarter.
Forward Guidance
No specific forward guidance was provided in the document.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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