Mitek Systems (MITK) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - Mitek Systems reported revenue of $45.73 million for the quarter ended June 2025, reflecting a 1.7% increase year-over-year and a 3.7% surprise over the Zacks Consensus Estimate of $44.1 million [1] - The company's EPS was $0.22, down from $0.25 in the same quarter last year, with a notable EPS surprise of 22.22% compared to the consensus estimate of $0.18 [1] Revenue Breakdown - Software and hardware revenue was $19.51 million, which is a 13.9% decrease year-over-year and below the average estimate of $20.54 million from three analysts [4] - Service and other revenue reached $26.22 million, exceeding the estimated $22.95 million and representing a 17.5% increase compared to the previous year [4] - Non-GAAP gross profit for services and other was $19.43 million, surpassing the average estimate of $18.95 million [4] - Non-GAAP gross profit for software and hardware was $19.45 million, also exceeding the average estimate of $18.29 million [4] Stock Performance - Mitek Systems' shares have declined by 10.2% over the past month, contrasting with a 1.2% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]