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Inferra AI / Company / MITK

Mitek Systems Inc.

MITK · Information Technology

Last earnings Aug 6, 2026

Key results

SaaS revenuequarter

23%

Mitek delivered a solid third quarter, with SaaS revenue growth accelerating to 23% year over year, clear evidence of growing demand for our identity and fraud solutions, said Ed West, chief executive officer of Mitek Systems.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

GAAP Total revenuequarter

$45.7 million

Fiscal 2025 Third Quarter Financial Highlights GAAP Total revenue of $45.7 million was a 2% increase year-over-year, compared to $45.0 million a year ago.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

SaaS revenue of $19.3 million was a 23% increase year-over-year, compared to $15.7 million a year ago.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

GAAP net incomequarter

$2.4 million

GAAP net income was $2.4 million, compared to GAAP net income of $0.2 million a year ago.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

GAAP net income per diluted share was $0.05, compared to $0.00 a year ago.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Non-GAAP net incomequarter

$10.2 million

Non-GAAP net income was $10.2 million, compared to $12.0 million a year ago.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Non-GAAP net income per diluted share was $0.22, compared to $0.25 a year ago.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Free cash flowytd

$35.0 million

Free cash flow was $35.0 million for the nine months ended June 30, 2025, compared to $9.4 million for the corresponding period a year ago, and was $55.8 million for the twelve months ended June 30, 2025, compared to $12.5 million for the corresponding period a year ago.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

AI analysis

Q3 FY2025 · reported Aug 7, 2025

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

GAAP Total revenue · Q3 FY2025
$45.7M
+1.6% +$700.00K vs year ago computed from stated figures
EX-99 · Aug 7, 2025
GAAP net income · Q3 FY2025
$2.4M
EX-99 · Aug 7, 2025
Non-GAAP net income · Q3 FY2025
$10.2M
-15.0% -$2M vs year ago computed from stated figures
EX-99 · Aug 7, 2025

The quarter in charts

Revenue — quarterly

As stated

016.733.350$45.0MSame quarter last year$45.7MQ3 FY2025

EX-99 · Aug 7, 2025 Statement values as stated in the release.

Headline figures

MetricQ3 FY2025Prior qtrYear ago
SaaS revenue23%——
GAAP Total revenue$45.7 million—$45.0 million
GAAP net income$2.4 million——
Non-GAAP net income$10.2 million—$12.0 million

EX-99 · Aug 7, 2025

Guidance · company-stated

Direction: Raised

Revenue — Raised

“htm EX-99.1 Document Mitek Reports Fiscal 2025 Third Quarter Financial Results Raises Midpoint of Revenue and Adjusted EBITDA Margin Guidance for Fiscal 2025 SAN DIEGO, Calif.”

Revenue — Raised

“com , Mitek or the Company ), a global leader in digital identity verification and fraud prevention, today reported financial results for its third quarter ended June 30, 2025 and raised the midpoint of its revenue and adjusted EBITDA margin guidance ranges for its fiscal 2025 full year ending Sept.”

Classified from the release's primary full-year outlook statement.

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Free cash flow$35.0M

Capital allocation

There are a number of limitations related to the use of free cash flow as compared to net cash provided by operating activities, including that free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made.

government and agency securities, short-term $ 998 $ $ $ 998 Commercial paper, short-term 19,575 1 ( 1 ) 19,575 Corporate debt securities, short-term 18,253 34 ( 2 ) 18,285 Corporate debt securities, long-term 3,431 33 3,464 Total $ 42,257 $ 68 $ ( 3 ) $ 42,322 All of the Company s investments are designated as available-for-sale debt securities.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Mitek Reports Fiscal 2025 Third Quarter Financial Results Raises Midpoint of Revenue and Adjusted EBITDA Margin Guidance for Fiscal 2025 SAN

Based on: Earnings release + parent 8-K + 10-Q — transcript not held

Guidance & outlook

Direction: Raised

Revenue — Raised (“Raises”)
“htm EX-99.1 Document Mitek Reports Fiscal 2025 Third Quarter Financial Results Raises Midpoint of Revenue and Adjusted EBITDA Margin Guidance for Fiscal 2025 SAN DIEGO, Calif.”

Revenue — Raised (“raised”)
“com , Mitek or the Company ), a global leader in digital identity verification and fraud prevention, today reported financial results for its third quarter ended June 30, 2025 and raised the midpoint of its revenue and adjusted EBITDA margin guidance ranges for its fiscal 2025 full year ending Sept.”

Classified from the release's primary full-year outlook statement.

Capital allocation

There are a number of limitations related to the use of free cash flow as compared to net cash provided by operating activities, including that free cash flow includes capital expenditures, the benefits of which are realized in periods subsequent to those when expenditures are made.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

government and agency securities, short-term $ 998 $ $ $ 998 Commercial paper, short-term 19,575 1 ( 1 ) 19,575 Corporate debt securities, short-term 18,253 34 ( 2 ) 18,285 Corporate debt securities, long-term 3,431 33 3,464 Total $ 42,257 $ 68 $ ( 3 ) $ 42,322 All of the Company s investments are designated as available-for-sale debt securities.

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

The Company has evaluated its available-for-sale debt securities in an unrealized loss position and has concluded that the unrealized losses are attributable to factors other than credit deterioration, such as changes in interest rates, and are not other-than-temporary.

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

Government and agency securities, short-term 998 998 Corporate debt securities 18,285 18,285 Total short-term investments at fair value 38,858 38,858 Long-term investments: Corporate debt securities 3,464 3,464 Total long-term investments at fair value 3,464 3,464 Total assets at fair value $ 42,322 $ $ 42,322 $ 5.

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

Share Repurchase Program On May 13, 2024, the Board authorized and approved a share repurchase program for up to $ 50.0 million of the currently outstanding shares of our Common Stock, which was effective as of May 16, 2024 and expired on May 16, 2026 ( 2024 Share Repurchase Program ).

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

On February 5, 2026, the Company announced that the Board of Directors had authorized an additional program to repurchase up to $ 50 million of the then outstanding shares of our Common Stock, which became effective on May 16, 2026 upon the completion of the 2024 Share Repurchase Program and will remain effective for a period of up to two years ( 2026 Share Repurchase Program ).

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

Strategy & priorities

We re executing on what we said we would do shifting to SaaS, streamlining our operations internally, and aligning our product investments and go-to-market strategy around a unified, integrated platform.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

In addition to the reasons stated above, we believe that free cash flow is useful to investors as a liquidity measure because it measures our ability to generate or use cash in excess of our capital investments in property and equipment in order to enhance the strength of our balance sheet and further invest in our business and potential strategic initiatives.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

GAAP measures as part of our overall assessment of our liquidity, including the preparation of our annual operating budget and quarterly forecasts and to evaluate the effectiveness of our business strategies.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

The Company provides software and service offerings focused on fraud prevention and check verification.

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

FAIR VALUE MEASUREMENT The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1: Valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities.

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

Risks & headwinds

Additional risks and uncertainties faced by the Company are contained from time to time in the Company s filings with the U.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Collectively, these risks and uncertainties could cause the Company s actual results to differ materially from those projected in its forward-looking statements and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

(2) During the three and nine months ended June 30, 2024, our legal team used third party legal experts to perform and provide advice regarding a variety of activities including intellectual property litigation matters and risk analysis and in providing support for customers in their litigation, matters and options related to getting our SEC filings current, the process for a potential delisting from the Nasdaq Capital Market, ongoing litigation support, and various other projects.

SEC original ↗Mitek Systems Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Legal Proceedings 28 Item 1A.

SEC original ↗Mitek Systems Inc. — 10-Q Quarterly report10-QAug 6, 2026

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

Microsoft (MSFT) Information TechnologyTeradyne (TER) Information TechnologyASML Holding (ASML) Information TechnologyMicron Technology (MU) Information TechnologySeagate Technology (STX) Information TechnologyUnited Microelectronics (UMC) Information TechnologyMonolithic Power Systems (MPWR) Information TechnologyCoherent Corp. (COHR) Information Technology
Documents

Filings

30 documents

Earnings releases

9 documents

Presentations

0 documents

No presentations for Mitek Systems Inc. are held in this edition of the library.

Transcripts

0 documents

No transcripts for Mitek Systems Inc. are held in this edition of the library.

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