Mitek Systems, Inc.
Description
Mitek Systems, Inc. provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion. The company also offers MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. CheckReader enables financial institutions to automatically extract data from checks once they have been scanned or photographed by the application; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile. In addition, it provides MiVIP, an end-to-end KYC platform that allows companies to design, build, and deploy robust KYC journeys with little or no development resources; and MiPass provides protection against most sophisticated forms of identity theft and dangerous fraud techniques, such as deepfakes and synthetic identities. Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice to stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images. The company was incorporated in 1986 and is based in San Diego, California.
About
CEO
Mr. Edward H. West
Employees
573
Instrument type
Common Stock
Sector
Technology
Industry
Software - Application
MIC code
XNCM
Address
600 B Street, San Diego, CA 92101, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Dec 16, 2025 | — | — | — | — |
| Aug 7, 2025 | — | — | — | — |
| May 9, 2025 | — | — | — | — |
| Apr 14, 2025 | — | — | — | — |
| Mar 17, 2025 | — | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Current Year
(Sep 2025)
|
Next Year
(Sep 2026)
|
||
|---|---|---|---|---|
| Number of analysts | — | 5 | 6 | 3 |
| Average estimate | — | 0.25 | 0.88 | 1.14 |
| Low estimate | — | 0.20 | 0.70 | 0.92 |
| High estimate | — | 0.32 | 1.13 | 1.44 |
| Last year EPS | — | 0.24 | 0.96 | 0.88 |
[stock_revenue_estimate]
Growth estimates
Current qtr
-4.290%
Next qtr. (Mar 2025)
4.170%
Current year (Sep 2025)
-8.510%
Next year (Sep 2026)
29.790%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
| Total reported revenue | 172.08M | 172.55M | 144.80M | 119.80M | 101.31M |
| Cost of revenue | 24.40M | 22.95M | 20.01M | 14.54M | 13.19M |
| Gross profit | 147.69M | 149.60M | 124.80M | 105.26M | 88.12M |
| Operating expense | |||||
| Research & development | 34.64M | 28.99M | 30.19M | 28.04M | 22.86M |
| Selling general and admin | 93.76M | 83.89M | 65.43M | 54.99M | 49.93M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 3.99M | 17.68M | 14.00M | 13.28M | 8.75M |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 9.26M | 9.06M | 8.23M | 5.13M | — |
| Other income expense | 4.36M | 1.73M | -2.17M | 654,000 | 655,000 |
| Pretax income | -909,000 | 10.34M | 3.60M | 8.80M | 9.41M |
| Tax provision | -4.19M | 2.31M | -92,000 | 824,000 | 1.60M |
| Net income | 3.28M | 8.03M | 3.69M | 7.98M | 7.81M |
| Basic EPS | 0.07 | 0.18 | 0.07 | 0.19 | 0.19 |
| Diluted EPS | 0.07 | 0.17 | 0.07 | 0.19 | 0.18 |
| Basic average shares | 46.56M | 45.53M | 44.60M | 43.51M | 41.41M |
| Diluted average shares | 46.56M | 45.53M | 44.60M | 43.51M | 41.41M |
| EBITDA | 27.02M | 40.56M | 28.81M | 22.88M | 17.24M |
| Net income from continuing op. | 3.28M | 8.03M | 3.69M | 7.98M | 7.81M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
| Total assets | 413.75M | 405.38M | 364.48M | 419.69M | 169.15M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 93.46M | 58.91M | 32.06M | 30.31M | 19.99M |
| Other short term investments | 36.88M | 74.70M | 58.27M | 149.06M | 40.04M |
| Accounts receivable | 31.68M | 32.13M | 35.92M | 16.60M | 15.61M |
| Other receivables | 15.82M | 18.36M | 7.04M | 4.08M | 5.19M |
| Inventory | — | — | — | — | — |
| Prepaid assets | 4.51M | 3.51M | 1.95M | 1.92M | 1.34M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 2.70M | 2.40M | 2.62M | 2.09M | 1.97M |
| Non current assets | |||||
| Properties | 4.66M | 4.14M | 5.16M | 7.06M | 8.95M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 7.85M | 8.00M | 7.00M | 5.79M | 1.98M |
| Construction in progress | — | — | — | — | — |
| Leases | 1.20M | 2.61M | 2.55M | 2.62M | 3.64M |
| Accumulated depreciation | -6.48M | -7.78M | -6.06M | -4.75M | -5.56M |
| Goodwill | 317.29M | 311.77M | 307.02M | 154.93M | 90.63M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | 48.21M | — |
| Intangible assets | 54.14M | 64.67M | 75.76M | 28.73M | 19.29M |
| Investments and advances | 11.41M | 1.30M | 10.63M | 48.05M | 1.96M |
| Other non current assets | 24.36M | 18.87M | 15.96M | 16.82M | 19.09M |
| Total liabilities | 198.95M | 200.19M | 193.50M | 226.86M | 36.91M |
| Current liabilities | |||||
| Accounts payable | 7.24M | 7.59M | 4.97M | 2.51M | 3.91M |
| Accrued expenses | 10.95M | 10.89M | 11.50M | 12.26M | 8.88M |
| Short term debt | 805,000 | 1.90M | 2.11M | 1.94M | 1.82M |
| Deferred revenue | 21.23M | 17.36M | 21.35M | 10.38M | 7.97M |
| Tax payable | 162,000 | 4.33M | 206,000 | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | 1.76M | 9.43M | 8.32M | 12.12M | 1.77M |
| Non current liabilities | |||||
| Long term debt | 147.83M | 138.38M | 132.08M | 127.51M | 5.33M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 3.89M | 6.48M | 9.58M | 4.12M | 4.65M |
| Derivative product liabilities | — | — | — | 48.21M | — |
| Other non current liabilities | 4.33M | 2.87M | 1.61M | 6.87M | 982,000 |
| Shareholders equity | |||||
| Common stock | 45,000 | 46,000 | 44,000 | 44,000 | 42,000 |
| Retained earnings | -30.27M | -9.31M | -17.34M | -6.07M | -13.99M |
| Other shareholders equity | -2.30M | -14.24M | -28.22M | -943,000 | -323,000 |
| Total shareholders equity | 214.80M | 205.19M | 170.98M | 192.83M | 132.24M |
| Additional paid in capital | 247.33M | 228.69M | 216.49M | 199.94M | 146.52M |
| Treasury stock | — | — | — | 140,000 | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||||
| Net Income | 3.28M | 8.03M | 3.69M | 7.98M | 7.81M | -724,000 | -11.81M | 14.09M | 1.96M | 2.53M | -5.29M | -7.28M | -7.84M | -125,057 | -682,353 | -1.32M | -748,764 | -383,798 | -717,326 | -1.03M | -3.85M | -2.49M | 396,806 | -341,424 | -1.43M | 2.00M | -1.50M | -2.60M | 1.20M | -100,000 | -1.10M | -900,000 | — | 900,000 | 600,000 |
| Depreciation | 16.91M | 18.72M | 14.95M | 8.94M | 7.94M | 8.41M | 4.64M | 913,000 | 1.39M | 605,000 | 471,000 | 323,383 | 231,981 | 179,291 | 172,598 | 83,631 | 36,084 | 39,343 | 469,900 | 619,258 | 537,418 | 442,000 | 634,352 | 570,167 | 431,192 | 300,000 | 500,000 | 700,000 | 400,000 | 400,000 | 800,000 | 1.10M | 600,000 | 900,000 | 600,000 |
| Deferred Taxes | -10.43M | -5.50M | -8.99M | 105,000 | 1.90M | -3.78M | 3.64M | -11.07M | -127,000 | -647,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | 12.62M | 10.46M | 13.35M | 11.53M | 9.55M | 9.64M | 8.95M | 5.48M | 4.08M | 3.37M | 3.44M | 2.79M | 2.60M | 1.27M | 406,269 | 116,115 | 221,990 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 9.88M | 11.12M | 7.00M | 5.45M | 136,000 | 472,000 | 2.09M | 1.61M | 1.65M | 393,000 | 396,000 | 175,292 | 261,398 | 438,069 | 294,887 | -23,609 | 26,900 | 170,567 | -64,068 | — | — | — | — | — | — | 100,000 | — | 100,000 | — | 100,000 | 100,000 | — | — | — | 100,000 |
| Accounts Receivable | 5.09M | -8.89M | -22.57M | 337,000 | -7.06M | -193,000 | -5.67M | -2.10M | -1.00M | -566,000 | -1.46M | -391,543 | 1.86M | -1.75M | -842,517 | 575,623 | -397,722 | 587,221 | -326,366 | -172,056 | 1.36M | 3.27M | -1.92M | 1.53M | -1.86M | -3.00M | 100,000 | -600,000 | -600,000 | 300,000 | 100,000 | 1.00M | 3.10M | 600,000 | -2.30M |
| Accounts Payable | -450,000 | 2.54M | 2.18M | -1.59M | 277,000 | 28,000 | 309,000 | 593,000 | -222,000 | -449,000 | -84,000 | 1.16M | 353,043 | 130,393 | -127,791 | -47,620 | 283,406 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 1.08M | -9.52M | 10.13M | 700,000 | 2.71M | 483,000 | 929,000 | 497,000 | -1.07M | -39,000 | 71,000 | 1.87M | 525,012 | -308,784 | 117,203 | 126,397 | 145,700 | -4,869 | 59,113 | -112,763 | -124,621 | 570,000 | 488,801 | -812,603 | -347,644 | — | 100,000 | -800,000 | -600,000 | -400,000 | 1.10M | 1.60M | 2.30M | — | 1.30M |
| Operating Cash Flow | 37.99M | 26.95M | 19.75M | 33.46M | 23.28M | 14.34M | 3.07M | 10.02M | 6.66M | 5.19M | -2.45M | -1.34M | -2.01M | -164,886 | -661,704 | -491,427 | -432,406 | 408,464 | -578,747 | -692,917 | -2.08M | 1.79M | -402,477 | 942,846 | -3.21M | -600,000 | -800,000 | -3.20M | 400,000 | 300,000 | 1.00M | 2.80M | 6.00M | 2.40M | 300,000 |
| Investing Activities | |||||||||||||||||||||||||||||||||||
| Capital Expenditures | -1.44M | -1.03M | -1.13M | -1.39M | -803,000 | -1.06M | -4.31M | -488,000 | -250,000 | -73,000 | -134,000 | -1.46M | -339,715 | -204,358 | -9,367 | -8,980 | -49,323 | -33,641 | -50,169 | 1.10M | 1.07M | -190,000 | -307,879 | -131,710 | -216,763 | -200,000 | 300,000 | -200,000 | -100,000 | 200,000 | -100,000 | -200,000 | — | -100,000 | — |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -63,734 | -347,738 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | -267,000 | -122.67M | -12.55M | — | — | -29.74M | — | — | -5.42M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -62.43M | -71.73M | -47.82M | -246.51M | -44.73M | -24.41M | -15.39M | -39.94M | -33.66M | -27.25M | -24.64M | -4.06M | -12.19M | -10.61M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | 92.62M | 66.25M | 173.32M | 89.96M | 20.82M | 14.97M | 41.02M | 32.65M | 30.62M | 21.41M | 11.67M | 6.09M | 14.64M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | 28.75M | -6.78M | 1.70M | -170.49M | -24.71M | -10.51M | -8.42M | -7.78M | -3.29M | -11.34M | -13.11M | 570,888 | 2.11M | -10.82M | -9,367 | -8,980 | -49,323 | -33,641 | -50,169 | 1.10M | 1.12M | -186,000 | -491,918 | -131,710 | -216,763 | -300,000 | 700,000 | -400,000 | — | 200,000 | -100,000 | -2.00M | — | -100,000 | -1.50M |
| Financing Activities | |||||||||||||||||||||||||||||||||||
| Long-Term Debt Issuance | 1.50M | — | — | 155.50M | 217,000 | 128,000 | — | — | — | — | — | — | — | — | 922,223 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -156,000 | -36,000 | -36,000 | -88,000 | -143,000 | -296,000 | -270,000 | — | -22,000 | -20,000 | -19,000 | -16,914 | -14,916 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | -4.93M | — | -7.66M | -39.49M | -478,000 | -1.03M | -1.28M | — | — | — | — | — | — | — | — | — | — | — | — | — | -151,000 | — | — | — | — | — | — | -100,000 | — | 100,000 | 100,000 | — | — | — | — |
| Financing Cash Flow | -27.77M | -36,000 | -22.87M | 115.74M | 3.40M | 4.38M | -429,000 | 687,000 | 1.73M | -20,000 | -19,000 | 15.99M | -14,916 | 14.60M | 1.27M | — | — | 4,636 | 47,503 | 1.50M | 53,220 | 22,000 | 12,269 | 644 | 662,975 | 100,000 | — | 4.10M | 100,000 | 600,000 | 100,000 | — | — | — | — |
| Other Cash Details | |||||||||||||||||||||||||||||||||||
| End Cash Position | 93.46M | 58.91M | 32.06M | 30.31M | 19.99M | 16.75M | 9.03M | 12.29M | 9.01M | 2.75M | 7.77M | 23.29M | 6.70M | 5.66M | 1.31M | 674,115 | 1.30M | 2.10M | 2.33M | 2.39M | 2.61M | 1.82M | 760,416 | 865,347 | 537,113 | 1.40M | 1.70M | — | — | — | — | — | — | — | — |
| Income Tax Paid | 11.99M | 3.84M | 750,000 | 741,000 | — | 310,000 | 402,000 | 113,000 | 17,000 | 105,000 | 2,000 | 1,076 | 800 | 2,492 | 2,338 | 1,800 | 2,800 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 1.27M | 1.41M | 1.16M | 569,000 | — | — | 29,000 | — | 1,000 | 4,000 | 6,000 | 8,093 | 10,397 | 5,333 | 2,540 | 3,724 | 243 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 30.25M | 30.55M | 19.99M | 35.95M | 23.32M | 13.19M | 1.32M | 9.96M | 7.60M | 6.03M | -2.60M | -2.11M | -2.12M | 111,810 | -815,431 | -626,236 | -796,001 | -240,409 | -107,846 | -2.07M | -3.45M | 1.03M | 66,059 | 837,590 | -2.03M | -500,000 | -300,000 | -2.90M | 400,000 | -300,000 | 1.10M | 2.20M | 3.40M | 2.70M | 1.30M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Invesco Small Cap Value Fd | Oct 31, 2024 | 1,652,922 | 17.14M | 3.65% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 1,393,659 | 14.45M | 3.08% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 1,303,901 | 13.52M | 2.88% |
| Vanguard Information Technology Index Fund | Nov 30, 2024 | 1,043,170 | 10.82M | 2.31% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 751,566 | 7.79M | 1.66% |
| Fidelity Small Cap Index Fund | Oct 31, 2024 | 469,799 | 4.87M | 1.04% |
| Columbia Fds Ser Tr I-Columbia Small Cap Value Fd I | Oct 31, 2024 | 426,841 | 4.43M | 0.94% |
| iShares Russell 2000 Growth ETF | Nov 30, 2024 | 417,575 | 4.33M | 0.92% |
| SPDR (R) Ser Tr-SPDR S&P Software & Services ETF | Nov 30, 2024 | 314,338 | 3.26M | 0.69% |
| DFA U.S. Targeted Value Portfolio | Oct 31, 2024 | 303,381 | 3.15M | 0.67% |
Article
CSI Launches Advanced Check Fraud Detection Tool in Partnership With Mitek Systems
PADUCAH, Ky.--(BUSINESS WIRE)--CSI's new solution equips bank tellers with real-time check fraud detection capabilities and more.
Feb 6, 2025
Article
Mitek Systems Announces Mark Rossi as a Nominee to its Board of Directors
SAN DIEGO--(BUSINESS WIRE)-- #BoardOfDirectors--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture, and fraud management, today announced the nomination of Mark Rossi to its board of directors. Mr. Rossi will also serve as a member of the board's audit committee, pending shareholder approval at the company's upcoming annual meeting. Mr. Rossi brings over four decades of strategic, financial, and operational expertise, having served on the boards of approximately 25.
Jan 28, 2025
Article
Mitek to Report Fiscal 2025 First Quarter Financial Results on February 10, 2025
SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will conduct a conference call on Monday, February 10th at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal first quarter ended December 31, 2024. The financial results will be issued in a press release before the call. Mitek CEO Ed West and CFO Dave Lyle will host the call, f.
Jan 22, 2025
