Financial Data and Key Metrics Changes - Mitek reported record revenue of $21.9 million for Q3 2019, representing a 36% year-over-year growth [9][26] - Software and hardware revenue increased by 14% year-over-year to $11.9 million, driven by the addition of A2iA and growth in Mobile Deposit revenue [26] - Services and other revenue, including transactional SaaS revenue, rose by 77% to $10 million, with SaaS revenue growing 71% year-over-year to $5.3 million [27][28] - GAAP net loss for the quarter was $100,000, or $0.00 per diluted share, while non-GAAP net income was $4.8 million, or $0.12 per diluted share [30][32] Business Line Data and Key Metrics Changes - Mobile Deposit remains the market leader with over 6,400 financial institutions using the product, with significant growth potential as mobile check deposits capture less than 20% of all retail checks [19] - Identity verification solutions saw a 71% year-over-year growth in transactional SaaS revenue, with SaaS transactions growing 76% year-over-year [21] - The company is rationalizing its platforms, focusing on Mobile Verify as the flagship identity product while discontinuing non-core products from A2iA [14][34] Market Data and Key Metrics Changes - The identity verification market is described as large and fast-growing, with significant opportunities for Mitek as businesses increasingly require secure customer onboarding [20] - The company is expanding its customer base, signing new clients across various sectors, including banking and e-commerce [21][22] Company Strategy and Development Direction - Mitek is focusing on consolidating its platforms to eliminate outdated technologies and improve operational efficiency [15] - The company aims to enhance its identity verification offerings and capitalize on the growing demand for digital identity solutions [13][20] - Mitek is also targeting new verticals, such as charities and digital banks, to expand its market reach [19][63] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in both the deposits and identity verification markets, despite some short-term revenue dissynergies from platform rationalization [11][38] - The company anticipates total revenue for fiscal 2019 to be between $84 million and $85 million, representing a growth of approximately 32% to 34% year-over-year [38] Other Important Information - A restructuring charge was taken in Q3 related to the separation of employees from A2iA, with plans to streamline operations and focus on core business areas [17][34] - The company expects to see annualized cost savings from the restructuring, although some costs will carry over into Q4 [53][56] Q&A Session Summary Question: Can you provide more details on the platform consolidation and which parts of the business are being rationalized? - Management indicated that the focus is on consolidating legacy systems acquired through previous acquisitions, particularly in the identity verification space, to streamline operations and enhance focus on Mobile Verify [44][45] Question: What is the company's strategy regarding the unbanked and under-banked markets? - Management sees significant opportunities in both the U.S. and developing economies, where government-issued identity documents are crucial for verifying identity [47] Question: What is driving the growth in the Mobile Verify business? - Growth is attributed to both new customer acquisitions and increased usage among existing customers, with improvements in the time-to-live for new implementations [48][49] Question: Can you elaborate on the competitive landscape for identity verification? - Management noted that competition varies by geography and that the market is still developing, with new entrants emerging [74][76] Question: When is the identity revenue expected to surpass the deposits revenue? - Management anticipates that identity revenue will equal deposits revenue within 18 to 24 months [78]

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, 2019 (State or Other Jurisdiction of Incorporation or Organization) 600 B Street, Suite 100 San Diego, California 92101 (Address of Principal Executive Offices) (Zip Code) (I.R.S. Employer Identification No.) (619) 269-6800 (Registrant's Telephone Number, Including Area Code) ☐ TRANSITION REPORT PU ...

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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 December 31, 2018 ☐ 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 Inco ...