Mitek Systems (MITK) FY Conference June 03, 2025 02:20 PM ET Speaker0 In person and those that are listening over the webcast. Just to kick things off, my name is Jacob Reberge. I'm the equity research analyst at William Blair that covers Mitek Systems. For a full list of our research disclosures, please visit our website at williamblair.com. Okay. Now that we have that out of the way, really excited to have Ed West, chief executive officer of Mitek, and David Lyle, chief financial officer at Mitek, here wi ...

Investors in Mitek Systems, Inc. (MITK) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 19, 2025 $2.50 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could al ...

Mitek Systems (MITK) reported $51.93 million in revenue for the quarter ended March 2025, representing a year-over-year increase of 10.6%. EPS of $0.36 for the same period compares to $0.24 a year ago.The reported revenue represents a surprise of +8.52% over the Zacks Consensus Estimate of $47.85 million. With the consensus EPS estimate being $0.26, the EPS surprise was +38.46%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

Mitek Systems (MITK) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 38.46%. A quarter ago, it was expected that this mobile imaging software company would post earnings of $0.13 per share when it actually produced earnings of $0.15, delivering a surprise of 15.38%.Over the last four ...

Mitek Systems (MITK) Q2 2025 Earnings Call May 08, 2025 05:00 PM ET Company Participants Todd Kehrli - PartnerEd West - CEO & Board MemberDave Lyle - CFODerek Greenberg - Equity Research Associate Conference Call Participants Jake Roberge - Equity Research AnalystLuke Horton - VP - Senior Equity Research Analyst Operator Please note this event is being recorded. I would now like to turn the conference over to Todd Kerley of Pondell Wilkinson. Please go ahead. Todd Kehrli Thank you, operator. Good afternoon ...

Mitek Systems (MITK) Q2 2025 Earnings Call May 08, 2025 05:00 PM ET Speaker0 Please note this event is being recorded. I would now like to turn the conference over to Todd Kerley of Pondell Wilkinson. Please go ahead. Speaker1 Thank you, operator. Good afternoon and welcome to Mitek's fiscal twenty twenty five second quarter earnings conference call. With me on today's call are Mitek's CEO, Ed West and CFO, Dave Lyle. Before I turn the call over to Ed, I'd like to cover a few quick items. Today, Mitek issue ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 001-35231 MITEK SYSTEMS, INC. (Exact name of registrant as specified in its charter) Delaware 87-0418827 (State or other jurisdiction of incorpo ...

Mitek Reports Record Fiscal 2025 Second Quarter Financial Results Raises Adjusted EBITDA Margin Guidance Range for Fiscal 2025 Secures Term Loan Facility to Retire 2026 Convertible Notes SAN DIEGO, CA, May 8, 2025 - Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com, "Mitek" or the "Company"), a global leader in digital identity verification, mobile capture and fraud management, today reported financial results for its second quarter ended March 31, 2025 and raised its adjusted EBITDA margin guidance r ...

Core Viewpoint - The article discusses potential investment opportunities in MITK, indicating a possible long position within the next 72 hours [1]. Group 1 - The analyst has no current stock, option, or similar derivative position in any of the companies mentioned [1]. - There is an intention to initiate a beneficial long position through stock purchase or call options in MITK [1].

Financial Data and Key Metrics Changes - Total revenue for fiscal Q1 was $37.3 million, slightly ahead of last year's results, with a 9% year-over-year decline in deposit products revenue and a 13% increase in identity products revenue [33][34] - Non-GAAP gross profit was $31.5 million, representing an 84% non-GAAP gross margin, with adjusted EBITDA reaching $7.8 million, a 21% margin, both exceeding expectations due to cost efficiencies [34][41] - Total SaaS revenue grew 29% year-over-year, with deposit SaaS revenue up 64% and identity SaaS revenue up 26% [29][34] Business Line Data and Key Metrics Changes - Deposit products revenue declined 9% year-over-year to $19.3 million, primarily due to a 21% decline in deposit software license revenue [35] - Identity products revenue increased by 13% year-over-year to $18 million, driven by a 26% year-over-year increase in identity SaaS revenue [40] - Services revenue streams grew by 21% year-over-year, offsetting a 25% decline in software and hardware sales [40] Market Data and Key Metrics Changes - The company processed approximately 1.2 billion transactions annually, maintaining stable transactional volumes [39] - The Check Fraud Defender's annual contract value (ACV) approached $12 million, with data sets on approximately 18% of all checking accounts in the country [25][26] Company Strategy and Development Direction - The company aims to enhance solutions, achieve operational excellence, and strengthen its foundation for durable, profitable revenue growth in fiscal '26 and beyond [11][30] - A four-pronged framework guides the company's transformation, focusing on strengthening the foundation, scaling the identity platform, expanding fraud solutions, and maintaining operational excellence [12] - The company is focused on integrating its identity verification engines into a unified platform, MiVIP, to enhance customer experience and competitive position [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to double-digit growth CAGR, driven by ongoing improvements and customer engagement [52][55] - The company anticipates continued growth in identity and fraud solutions, with a focus on addressing increasing threats from fraud and cyberattacks [8][11] - Management highlighted the importance of customer relationships and the strategic value provided to high-assurance businesses [22][24] Other Important Information - The company generated $40.2 million in free cash flow over the last 12 months and repurchased $27.2 million worth of shares [45] - Fiscal 2025 revenue guidance remains at $170 million to $180 million, with adjusted EBITDA margin guidance raised to 25% to 28% [48] Q&A Session Summary Question: Near-term opportunities and growth confidence - Management remains confident in the business's ability to return to double-digit growth, citing encouraging customer interactions and market conditions [52][55] Question: Check Fraud Defender partner channel trends - Partnerships are growing, and the value of the solution is compelling for financial institutions facing increasing fraud [58][60] Question: Update on ID R&D deals and sales cycle - Sales cycles for larger deals are long, but management expects benefits to materialize in the second half of fiscal '25 and into '26 [64][65] Question: Competitive environment and pricing pressures - The focus is on growing MiVIP, which is expected to reduce pricing pressures over time as more business shifts to the platform [90][92] Question: Revenue opportunity comparison between Check Fraud Defender and mobile deposits - Management refrained from providing specific revenue comparisons but emphasized the growth potential of Check Fraud Defender in addressing fraud challenges [112][113]