Mitek Systems(US:MITK)2019-07-26 15:24Company Overview - Mitek is a global leader in mobile capture and digital identity verification solutions[5] - The company has over 6,400 customers and serves over 80 million consumers[9] - Mitek's platform processes over 3 billion checks[10] Financial Performance & Growth - Mitek experienced a 32% Compound Annual Growth Rate (CAGR) from FY12 to FY19[10] - FY18 revenue reached $63.6 million, a 40% year-over-year increase, with ID revenue growing by 69% and Deposits revenue growing by 28%[10, 46] - Q3 2019 revenue was $21.9 million, a 36% year-over-year increase[50] - Transactional SaaS revenue in Q3 2019 was $5.3 million, up 71% year-over-year[50] - The company's financial guidance for fiscal year 2019 (ending Sept 30, 2019) is $84 million to $85 million in revenue, representing approximately 32% to 34% growth[54] Market & Technology - Mitek is addressing a global $12 billion market for identity verification, which is growing at a 16% CAGR from 2019-2024[27, 28, 55] - The company's Mobile Deposit technology has enabled more than 3 billion mobile deposits, totaling $1.5 trillion in cumulative check value[18]