Mitek Systems(US:MITK)2020-07-31 16:01Financial Performance - Mitek's FY19 revenue reached $84.6 million, a 33% year-over-year increase, with $14.3 million in cash flow from operations[39] - In FY19, Deposits accounted for 67% of the revenue, growing by 37%, while ID contributed 33%, with a 25% growth[39] - Transactional SaaS revenue in FY19 was $21.4 million, up 63% year-over-year[39] - Q3 FY20 revenue was $25.4 million, a 16% year-over-year increase[10, 42] - Transactional SaaS revenue in Q3 FY20 was $7.6 million, up 42% year-over-year[43] - Mitek reported a 26% non-GAAP operating margin in Q3 FY20[10, 43] - Cash and equivalents totaled $52.2 million[43] Market and Technology - Mitek is a global leader in mobile capture and identity verification, serving over 7,500 customers and over 80 million consumers[7] - The company's mobile deposit solutions have enabled over 4 billion check deposits[10, 18] - Mitek addresses a global $12 billion market in identity verification, growing at a 16% CAGR[21] Strategic Positioning - Mitek leverages macroeconomic trends such as digital transformation, regulatory changes, and mobile-first consumers[11, 12, 14, 45] - The company's technology includes patented IP, AI, and machine learning techniques[7, 33, 45]