MITEK SYSTEMS INC MITK

Technology SIC 3577 - Computer Peripheral Equipment, NEC NAICS Manufacturing › Computer and Electronic Product Manufacturing › Computer and Peripheral Equipment Manufacturing › Computer Terminal and Other Computer Peripheral Equipment Manufacturing derived Nasdaq

Mitek Systems, Inc. ("Mitek" or the "Company") is a global provider of digital identity verification and fraud prevention solutions. The Company's technologies help organizations verify identities, mitigate fraud risk, and enable secure digital interactions in response to increasingly complex and evolving threats, including those driven by artificial intelligence ("AI").

Mitek's platform addresses key use cases across digital interactions and customer lifecycle, including new account openings, account access, and mobile check deposit. Core capabilities include AI, machine learning, computer vision, and proprietary biometric liveness, and deepfake detection technologies that support identity verification, detect manipulation, and help prevent digital impersonation.

Last close 18.64 2026-10-23
Market cap $841.1M 2026-06-30 share count
52-week range 8.53 - 21.05

Valuation FY2025 figures against the last close

P/S4.7x
P/E98.1x
P/FCF15.5x
EV/EBITDA36.1x
Dividend yield—
Diluted EPS0.19

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • All other countries
  • United Kingdom
Revenue by geography, 3 categories over 2 years. The same figures are in the table below. FY2025 United States, FY2025: 136.2M (75.8%) 76% United States All other countries, FY2025: 22M (12.3%) 12% United Kingdom, FY2025: 21.5M (12.0%) 12% United Kingdom FY2024 United States, FY2024: 135.3M (78.7%) 79% All other countries, FY2024: 19.1M (11.1%) 11% United Kingdom, FY2024: 17.6M (10.2%) 10%
Region FY2025FY2024
United States $136.2M $135.3M
All other countries $22.0M $19.1M
United Kingdom $21.5M $17.6M

As the company reported it, from the “REVENUE RECOGNITION - Schedule of Revenue from External Customers by Geographic Areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $179.7M$172.1M$172.6M$144.8M$119.8M$101.3M$84.6M$63.6M$45.4M$34.7M
Cost of revenue ————————$2.9M$2.4M
Gross profit ————————$42.5M$32.3M
R&D $35.3M$34.6M$29.0M$30.2M$28.0M$22.9M$21.9M$18.1M$10.4M$7.8M
SG&A $44.3M$53.0M$43.3M$26.6M$22.5M$22.3M$19.9M$17.1M$11.3M$8.6M
Total operating expenses $162.9M$169.9M$157.0M$132.6M$106.5M$92.4M$89.2M$71.4M$42.6M$32.9M
Operating income $16.8M$2.2M$15.6M$12.2M$13.3M$8.9M-$4.6M-$7.8M$2.8M$1.8M
Interest expense $9.8M$9.3M$9.1M$8.2M$5.1M$0$0———
Pre-tax income $11.6M-$909.0K$10.3M$3.6M$8.8M$9.4M-$4.0M-$8.7M$3.2M$2.0M
Income tax $2.8M$4.2M$2.3M$92.0K$824.0K$1.6M$3.3M$3.1M$10.9M$1.0K
Net income $8.8M$3.3M$8.0M$3.7M$8.0M$7.8M-$724.0K-$11.8M$14.1M$2.0M
EPS, basic 0.190.070.180.080.180.19-0.02-0.330.430.06
EPS, diluted 0.190.070.170.080.180.18-0.02-0.330.400.06
Shares, diluted (wtd. avg.) 46.9M47.5M46.5M45.8M45.1M42.5M39.3M35.8M35.5M33.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $154.2M$93.5M$58.9M$32.1M$30.3M$20.0M$16.7M$9.0M$12.3M$9.0M
Short-term investments $38.9M$36.9M$74.7M$58.3M$149.1M$40.0M$16.5M$8.4M$30.3M$24.9M
Receivables $36.8M$31.7M$32.1M$35.9M$16.6M$15.6M$14.9M$16.8M$7.1M$4.9M
Total current assets $248.5M$185.1M$190.0M$137.9M$204.1M$84.1M$54.1M$37.6M$50.9M$40.3M
Property, plant and equipment $2.3M$2.6M$2.8M$3.5M$3.7M$3.6M$4.2M$4.7M$613.0K$440.0K
Goodwill $133.5M$131.6M$123.5M$115.6M$63.1M$35.7M$32.6M$34.4M$3.0M$2.9M
Other intangibles $39.8M$54.1M$64.7M$75.8M$28.7M$19.3M$24.4M$32.9M$2.3M$2.8M
Total assets $459.1M$413.8M$405.4M$364.5M$419.7M$169.2M$135.9M$127.2M$71.7M$48.4M
Accounts payable $3.9M$7.2M$7.6M$5.0M$2.5M$3.9M$3.6M$3.6M$1.9M$1.3M
Total current liabilities $209.0M$42.1M$51.5M$48.5M$39.2M$24.4M$20.0M$20.4M$9.5M$8.3M
Long-term debt $4.3M$2.7M————————
Total liabilities $218.9M$199.0M$200.2M$193.5M$226.9M$36.9M$28.6M$31.8M$10.3M$8.9M
Retained earnings -$26.2M-$30.3M-$9.3M-$17.3M-$6.1M-$14.0M-$20.8M-$21.0M-$17.4M-$31.5M
Total equity $240.3M$214.8M$205.2M$171.0M$192.8M$132.2M$107.3M$95.4M$61.4M$39.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $55.3M$31.7M$31.6M$21.1M$37.3M$24.1M$14.2M$5.6M$10.4M$7.9M
Depreciation and amortisation $1.3M$1.8M$1.7M$1.4M$1.4M$1.5M$1.4M$615.0K$322.0K$790.0K
Stock-based compensation $16.8M$12.6M$10.5M$13.3M$11.5M$9.6M$9.6M$8.9M$5.5M$4.1M
Capital expenditure $1.2M$1.4M$1.0M$1.1M$1.4M$803.0K$1.1M$4.3M$488.0K$250.0K
Investing cash flow $5.8M$28.7M-$6.8M$1.7M-$170.5M-$24.7M-$10.5M-$8.4M-$7.8M-$3.3M
Financing cash flow -$1.8M-$25.9M$1.7M-$21.1M$143.7M$3.4M$4.4M-$429.0K$687.0K$1.7M
Buybacks $4.7M$24.2M$0$15.2M$190.0K$1.0M$0$0——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-25-056520.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -50M 0 50M 100M 150M 200M Revenue, FY2016: 34.7M Gross profit, FY2016: 32.3M Net income, FY2016: 2M Revenue, FY2017: 45.4M Gross profit, FY2017: 42.5M Net income, FY2017: 14.1M Revenue, FY2018: 63.6M Net income, FY2018: -11.8M Revenue, FY2019: 84.6M Net income, FY2019: -724K Revenue, FY2020: 101.3M Net income, FY2020: 7.8M Revenue, FY2021: 119.8M Net income, FY2021: 8M Revenue, FY2022: 144.8M Net income, FY2022: 3.7M Revenue, FY2023: 172.6M Net income, FY2023: 8M Revenue, FY2024: 172.1M Net income, FY2024: 3.3M Revenue, FY2025: 179.7M Net income, FY2025: 8.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $34.7M $45.4M $63.6M $84.6M $101.3M $119.8M $144.8M $172.6M $172.1M $179.7M
Gross profit $32.3M $42.5M — — — — — — — —
Net income $2.0M $14.1M -$11.8M -$724.0K $7.8M $8.0M $3.7M $8.0M $3.3M $8.8M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event Item 8.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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