Mitek Systems' (MITK) Q1 Earnings & Revenues Decline Y/Y

Mitek Systems (MITK) reported first-quarter fiscal 2024 earnings of 14 cents per share compared with 31 cents a year ago.Revenues decreased 19.2% year over year to $36.9 million from $45.7 million a year ago.The top-line decline was mainly due to tougher year-over-year comparisons. In the first quarter of fiscal 2023, the company secured a big multi-year mobile check deposit reorder with a single customer. The led to the pulling forward of $7 million of future revenues in the first quarter of fiscal 2023. I ...