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Sep 30, 2025
Mitek Q4 2025 Earnings Report
Mitek posted a 4% year-over-year revenue increase in Q4 2025, driven by SaaS revenue growth, though GAAP net income declined.
Key Takeaways
Mitek delivered modest revenue growth in Q4 2025, with SaaS continuing to expand. However, net income was significantly lower compared to the prior year due to increased expenses and reduced operating income.
Q4 revenue grew 4% YoY to $44.8 million.
GAAP net income dropped to $1.9 million from $8.6 million a year ago.
Adjusted EBITDA fell to $12.9 million from $15.4 million YoY.
Free cash flow remained strong at $19.2 million for the quarter.
Revenue by Segment
Forward Guidance
Mitek expects full-year fiscal 2026 revenue to grow 5.5% at the midpoint, with a focus on expanding its Fraud & Identity solutions segment.
Positive Outlook
- FY26 revenue guidance: $185–$195 million
- Q1 FY26 revenue guidance: $41–$44 million
- Fraud & Identity revenue projected to grow ~15%
- Adjusted EBITDA margin guided at 27%–30%
- SaaS momentum expected to continue into FY26
Challenges Ahead
- Guidance reflects only modest overall revenue growth (~5.5%)
- Adjusted EBITDA margin midpoint below previous year’s 30%
- Check verification segment may continue to decline
- Q4 net income fell significantly year-over-year
- Non-GAAP margins slightly contracted vs. prior year
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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