Mitek Systems(US:MITK)2021-11-05 12:32Company Overview - Mitek is a global leader in mobile capture and identity verification, protecting over 80 million consumers and serving over 7,500 global customers[5] - The company utilizes a highly scalable cloud platform and employs AI and machine learning techniques with patented IP[5] Financial Performance - FY21 full-year revenue reached $119.8 million, representing an 18% year-over-year growth[6, 34] - The company achieved a 29% non-GAAP operating margin in FY21[6, 35] - Cash flow from operations in FY21 was $37.4 million[6, 35] - Q4 FY21 revenue was $33.3 million, a 9% increase year-over-year[37] - Transactional SaaS revenue in Q4 FY21 grew by 26% year-over-year to $10.2 million[37] Market and Growth - Mitek addresses a global market for identity verification estimated at $15.8 billion, growing at a CAGR of 15.6%[16] - The company's identity (ID) revenue grew by 32% in FY21[6, 34] - Deposits revenue grew by 11% in FY21[6, 34] - Mitek has enabled more than 4 billion mobile deposits, totaling $1.5 trillion in cumulative check value[13] Technology and Solutions - Mitek is the inventor of Mobile Deposit® and Check Fraud Defender™[12] - The company's Mobile Verify® solution bridges the gap from the physical to the digital world[19] - Mitek's continuous learning engine processes millions of transactions monthly, leveraging ID document experts and AI/machine learning[26]