Mitek Systems, Inc.
NASDAQ•MITK
CEO: Mr. Michael E. Diamond
Sector: Technology
Industry: Software - Application
Listing Date: 1989-01-03
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.
Contact Information
Market Cap
$672.42M
P/E (TTM)
40.5
82.7
Dividend Yield
--
52W High
$17.97
52W Low
$8.53
52W Range
Rank44Top 53.8%
3.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q2 2026 Data
Revenue
$54.84M+0.00%
4-Quarter Trend
EPS
$0.21+0.00%
4-Quarter Trend
FCF
-$2.50M+0.00%
4-Quarter Trend
2026 Q1 Earnings Highlights
Key Highlights
Revenue Growth Strong Total revenue $44.24M, up 19% compared to $37.25M prior year period, driven by biometrics ID Live products.
Net Income Reversal Achieved Swung to Net Income $2.77M from $4.61M loss; diluted EPS reached $0.06 for the quarter.
Operating Cash Flow Surge Operating cash flow $8.02M, sharply increased from $0.57M provided in the prior year period, supporting liquidity.
Strong Future Revenue Backlog Remaining performance obligation totals $103.69M, with $81.04M current, signaling strong future recognized revenue backlog.
Risk Factors
Risk Factors Unchanged Risk factors remain consistent with 2025 Annual Report; no material changes noted for current reporting period disclosures.
Single Customer Concentration Single customer concentration risk remains; derived $4.5M revenue, representing 10% of total Q3 revenue reported.
Ongoing Legal Proceedings Exposure Ongoing patent litigation exposure exists; company actively monitors USAA and UrbanFT related legal matters, costs uncertain.
Outlook
Convertible Debt Repaid Repaid 2026 Convertible Senior Notes in full on February 1, 2026, eliminating $155.3M principal maturity.
New Credit Facility Utilized Borrowed $50.0M under Term Loan on January 21, 2026, specifically for funding the 2026 Notes repayment.
New Share Buyback Approved Board approved new $50.0M share repurchase program effective February 5, 2026, for capital deployment strategy.
Adequate Working Capital Working capital $36.0M at period end, deemed adequate for next twelve months operating needs and requirements.
Peer Comparison
Revenue (TTM)
$7.41B
$481.94M
$422.81M
Gross Margin (Latest Quarter)
99.9%
76.2%
76.1%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| SATL | $855.53M | -11.1 | 402.2% | 79.6% |
| MITK | $672.42M | 40.5 | 7.0% | 14.7% |
| PUBM | $538.96M | -31.1 | -7.0% | 6.4% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
6.2%
Steady Growth
4Q Net Income CAGR
58.5%
Profitability Improved
Cash Flow Stability
75%
Volatile Cash Flow
Deep Research
Next earnings:Jul 23, 2026
EPS:$0.28
|Revenue:$50.82M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
|---|
No Data