Mitek Systems, Inc.
9.39-0.04 (-0.42%)
Oct 29, 4:00:01 PM EDT · NasdaqCM · MITK · USD
Key Stats
Market Cap
428.63MP/E (TTM)
28.45Basic EPS (TTM)
0.33Dividend Yield
0%Recent Filings
8-K
CPO resigns without discord
Mitek Systems' Chief Product Officer Christopher Briggs resigned effective September 19, 2025, following his tender on September 12—no disagreements with company operations or policies noted. This leadership shift leaves product strategy in flux, yet the firm eyes continuity amid its tech focus. No successor named yet.
8-K
Mitek lifts FY25 guidance
Mitek Systems reported Q3 fiscal 2025 revenue of $45.7 million, up 2% year-over-year, driven by SaaS revenue surging 23% to $19.3 million amid accelerating demand for identity and fraud solutions. Adjusted EBITDA climbed to $13.1 million with a 28.6% margin, while free cash flow over nine months hit $35.0 million. The company raised full-year revenue guidance to $174-$177 million and adjusted EBITDA margin to 28%-29%. SaaS shift fuels growth.
10-Q
Q3 FY2025 results
Mitek Systems posted solid Q3 FY2025 results, with revenue climbing 2% year-over-year to $45.7 million, driven by 18% growth in services and other revenue to $26.2 million, though software and hardware dipped 14% to $19.5 million from lower Mobile Deposit renewals. Operating income surged to $3.8 million, up sharply from $0.7 million last year, thanks to tighter cost controls that trimmed G&A and R&D expenses while boosting gross margins. Diluted EPS hit $0.05, aligning with 46.8 million shares, while nine-month YTD revenue rose 5% to $134.9 million and operating income flipped to $12.1 million from a $5.5 million loss. Cash swelled to $127.1 million, with operating cash flow at $35.9 million YTD; the $150.0 million convertible notes due February 2026 loom large, but a new $75.0 million term loan facility offers refinancing runway through 2030, and no revolver draws yet. Free cash flow stood at $34.9 million YTD (derived). Patent trolls keep circling, though.
8-K
Investor presentation updated
Mitek Systems updated its investor presentation on June 3, 2025, now available on its website under the Investors section. This refresh, filed under Regulation FD, aims to share key company insights without incorporating website content into official disclosures. Details remain non-filed for liability purposes. No specific updates disclosed in the 8-K.
10-Q
Q2 FY2025 results
Mitek Systems posted solid Q2 FY2025 results, with revenue climbing 11% year-over-year to $51.9 million, fueled by 14% growth in services and other revenue from MiVIP and Mobile Deposit products, while software and hardware rose 7%. Operating income surged to $11.4 million from $0.7 million last year, thanks to sharp cuts in general and administrative expenses, lifting diluted EPS to $0.20 from $0.01; YTD, revenue grew 6% to $89.2 million and EPS hit $0.10 versus a $0.12 loss. Cash from operations reached $14.3 million YTD, boosting cash and equivalents to $104.7 million, with free cash flow at $13.7 million after $0.6 million capex. Convertible notes of $147.8 million mature in February 2026, but a fresh $75 million term loan facility eases that pressure. Yet patent disputes with non-practicing entities linger as a drag.
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