Mitek Systems

Mitek Systems, Inc. engages in the innovation of mobile capture and digital identity verification solutions. Its products include Mobile Deposit, Mobile Verify, Mobile Fill, Mobile Docs, A2iA CheckReader, A2iA XE, A2iA DocumentReader, A2iA TextReader, and ICAR ID_CLOUD. The company was founded in 1986 and is headquartered in San Diego, CA.

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Mitek Systems reports record fiscal 2022 earnings and growth opportunities

Mitek Systems delivered a strong performance in fiscal 2022, achieving record revenue and net income, driven by growth in deposits and identity businesses.
While facing legal challenges and aiming for breakeven in the identity business by 2024, Mitek remains focused on sustaining growth and operational efficiency.
The company's strategic focus on innovation, market positioning, and legal defense sets the stage for continued success and revenue expansion.
With a positive outlook for fiscal 2023 and opportunities for growth in biometric identity verification, Mitek is poised for continued success in the market.

Mitek Systems achieves record revenue in fiscal 2022, anticipates growth

Mitek Systems delivered strong financial performance in fiscal 2022, driven by robust growth in both the deposits and identity businesses. While facing challenges related to expenses and regulatory compliance, the company is well-positioned to capitalize on the expanding market and anticipates continued revenue growth in fiscal 2023.

Mitek Systems reports record Q2 revenue and advances biometric solutions

Mitek Systems delivered a strong performance in Q2 2023, driven by record revenue and growth in key business segments, showcasing resilience and innovation.
While facing challenges such as macroeconomic impacts and evolving security threats, Mitek's strategic focus on identity verification and financial management strengths position it well for future growth.
With opportunities in expanding biometric solutions, addressing emerging threats, and strategic market exploration, Mitek remains poised for continued success in the digital security landscape.

Mitek Systems reports record Q3 revenue, poised for growth

Mitek Systems delivered a strong Q3 performance with record revenue and notable growth in key revenue streams.
The company's focus on identity verification and innovative solutions underscores its market strength and growth potential.
While facing challenges in executive transitions and revenue recognition, Mitek's opportunities lie in market expansion and technology advancement.
Overall, Mitek's Q3 earnings call highlights its resilience, innovation, and strategic positioning for future growth.

Mitek Systems (MITK) posts strong Q4 results, eyes growth opportunities

Mitek Systems shows robust growth with strong financials and strategic wins
Challenges include managing expenses and competitive pressures in the market
Opportunities lie in expanding product offerings and capital allocation plans
Guidance on non-GAAP operating margin signals confidence in future performance

Mitek Systems projects solid revenue growth amidst identity market opportunities

Mitek Systems anticipates strong growth in deposits and identity products, with a focus on Check Fraud Defender's expansion. The company's strategic focus on biometrics and fraud prevention positions it well for future market trends.

Mitek Systems reports revenue growth and CEO transition plans

Mitek Systems (MITK) reported a solid Q2 2024 performance with revenue growth, strong gross margins, and a focus on growth products and operational efficiency.
While facing challenges such as increased operating expenses and revenue uncertainty, the company maintains financial stability and confidence in its long-term prospects.
Opportunities lie in margin expansion, revenue diversification through growth products, and leadership enhancement through the CEO search process.
Overall, Mitek's strategic initiatives and financial position position it well for future growth and market leadership in the identity verification space.

Mitek Systems reports Q3 revenue growth amidst challenges and opportunities

Mitek Systems reported mixed performance in Q3 2024 with revenue growth but challenges from biometrics revenue shortfalls and campaign delays.
The company is strategically focusing on product optimization, deepfake detection, and partnerships to drive future growth and profitability.
While facing challenges in revenue outlook and profitability, Mitek is actively pursuing opportunities through product integration and customer segment targeting.

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Mitek Systems, Inc. engages in the development of mobile capture and digital identity verification solutions. The company was founded in 1986 and is headquartered in San Diego, CA.

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SAN DIEGO--(BUSINESS WIRE)--Mitek announces Check Fraud Defender, the first AI-powered, cloud-hosted consortium for financial institutions to counteract check fraud.

Mitek Introduces Check Fraud Defender

SAN DIEGO--(BUSINESS WIRE)--Mitek (NASDAQ: MITK), a global leader in mobile capture and digital identity verification solutions, today announced that its Board of Directors authorized a share repurchase program for up to $15 million of its outstanding common stock. The company intends to fund the share repurchases from cash on hand and cash generated from operations. As of March 31, 2021, the Company had cash and investments of approximately $219.5 million and approximately 43.1 million shares

Mitek Announces $15 Million Share Repurchase Program

SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in mobile capture and digital identity verification solutions, today announced the appointment of Susan Repo to its board of directors and Frank Teruel to its leadership team as chief financial officer. Susan Repo, currently the chief financial officer at ICEYE, a New Space earth observation technology company enabling access to real-time imagery from space to empower better decision making in governmental and comme

Mitek Systems Appoints New Board Member and Chief Financial Officer

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2 Small-Cap Stocks to Invest in the Fast-Growing Identity Solutions Market

SAN DIEGO--(BUSINESS WIRE)--Mitek has acquired ID R&D, an award-winning provider of artificial intelligence (AI)-based voice and face biometrics and liveness detection.

Mitek Acquires ID R&D to Lead Fight Against Biometric Identity Fraud

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SAN DIEGO--(BUSINESS WIRE)--Mitek (NASDAQ: MITK, www.miteksystems.com), a global leader in mobile capture and digital identity verification solutions, today announced that CEO Max Carnecchia and CFO Jeff Davison are scheduled to present at the William Blair 41st Annual Growth Stock Virtual Conference on Wednesday, June 2nd at 5:00 p.m. Eastern Time, with virtual one-on-one meetings with investors held throughout the day. The presentation will be webcast live and available for replay via the inv

Mitek to Present at the William Blair 41st Annual Growth Stock Virtual Conference on June 2, 2021

SAN DIEGO--(BUSINESS WIRE)--Mitek (NASDAQ: MITK, www.miteksystems.com), a global leader in mobile capture and digital identity verification solutions, today announced that CEO Max Carnecchia and CFO Jeff Davison are scheduled to present at the 16th Annual Needham Virtual Technology and Media Conference on Tuesday, May 18th at 2:15 p.m. Eastern Time, with virtual one-on-one meetings with investors held throughout the day. The presentation will be webcast live and available for replay via the inv

Mitek to Present at 16th Annual Needham Virtual Technology and Media Conference on May 18, 2021

Mitek Systems, Inc. (MITK) CEO Max Carnecchia on Q2 2021 Results - Earnings Call Transcript

Mitek Systems (MITK) delivered earnings and revenue surprises of 23.08% and 6.70%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Mitek Systems (MITK) Beats Q2 Earnings and Revenue Estimates

SAN DIEGO--(BUSINESS WIRE)--Mitek (NASDAQ: MITK, www.miteksystems.com), a global leader in mobile capture and digital identify verification solutions, today reported record financial results for its second quarter of fiscal 2021 ended March 31, 2021. Total second quarter revenue increased 24% year over year fueled by an increase in demand for both mobile deposit and identity verification solutions as commerce continues its shift to digital channels. Fiscal Second Quarter 2021 Financial Highligh

Mitek Reports Record Second Quarter Revenue With Total Revenue Up 24% Year Over Year

Mitek Systems (MITK) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Mitek Systems (MITK) Expected to Beat Earnings Estimates: Should You Buy?

SAN DIEGO--(BUSINESS WIRE)--Mitek (NASDAQ: MITK) (www.miteksystems.com), a global leader in mobile capture and digital identify verification solutions, today announced that it will release its financial results for the second quarter of fiscal 2021, ended March 31, 2021, on Thursday, April 29, 2021, after the close of the market. Mitek management will host a conference call and live webcast for analysts and investors on April 29, 2021 at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discus

Mitek to Report Second Quarter Fiscal 2021 Financial Results on April 29, 2021

Mitek's position as a patent licensing company is interesting in the context of some of the most widespread financial litigation of the last decade. Indemnification demands are structurally difficult to enforce by Mitek licensees, and the USAA crusade will keep patent agreements from including many covenants.

Mitek Is Protected And Primed By Game Theory, Cheap On An Options Basis

SAN DIEGO, March 16, 2021 (GLOBE NEWSWIRE) -- Mitek (NASDAQ: MITK, www.miteksystems.com), a global leader in mobile capture and digital identity verification solutions, today announced that CEO Max Carnecchia is scheduled to present at Maxim Group's Inaugural Emerging Growth Virtual Conference to be held March 17-19, 2021.

Mitek to Present at Maxim Group's 2021 Inaugural Emerging Growth Virtual Conference

Mitek Is A Cash Machine At A Discount For Legal Troubles

Mitek Systems: Compelling Valuation And Potential Acquisition Target

SAN DIEGO, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Mitek Systems, Inc. (“Mitek”) announced today the pricing of its private offering of $135,000,000 aggregate principal amount of 0.750% Convertible Senior Notes due 2026 (the “Notes”) in a private offering. The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $125,000,000 aggregate principal amount of notes. Mitek has granted the initial purchasers of the Notes an option to purchase up to an additional $20,250,000 aggregate principal amount of Notes. The offering is expected to close on February 5, 2021, subject to customary closing conditions.

Mitek Announces Pricing of $135,000,000 Private Offering of 0.750% Convertible Senior Notes

The digital identity specialist announces a convertible note offering.

Why Mitek Systems Stock Plummeted Today

SAN DIEGO, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Mitek Systems, Inc. (“Mitek”) (NASDAQ: MITK) announced today that, subject to market and other conditions, it intends to offer $125,000,000 aggregate principal amount of Convertible Senior Notes due 2026 (the “Notes”) in a private offering. The Notes will be offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Mitek also expects to grant the initial purchasers of the Notes an option to purchase up to an additional $18,750,000 aggregate principal amount of Notes.

Mitek Announces Proposed Private Offering of $125,000,000 of Convertible Senior Notes

Mitek Systems, Inc. (MITK) CEO Max Carnecchia on Q1 2021 Results - Earnings Call Transcript

Mitek Systems (MITK) delivered earnings and revenue surprises of 0.00% and 3.22%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

Mitek Systems (MITK) Matches Q1 Earnings Estimates

Results driven by 40% increase in identity verification revenue Results driven by 40% increase in identity verification revenue

Mitek Reports 18% Revenue Growth in Record First Quarter

Mitek has seen explosive growth in recent years and will benefit from a boom in digital identity verification in the near future. With a blue-chip roster of clients, high switching costs, economies of scale, and a stable liquidity position, the company demonstrates immense fundamental strength.

News for Mitek Systems Stock (MITK)