Free Trial

Mitek Systems (MITK) Financials

Mitek Systems logo
$9.41 -0.04 (-0.37%)
As of 03:25 PM Eastern
This is a fair market value price provided by Polygon.io. Learn more.
Annual Income Statements for Mitek Systems

Annual Income Statements for Mitek Systems

This table shows Mitek Systems' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 9/30/2024 9/30/2023 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
3.28 8.03 3.69
Consolidated Net Income / (Loss)
3.28 8.03 3.69
Net Income / (Loss) Continuing Operations
3.28 8.03 3.69
Total Pre-Tax Income
-0.91 10 3.60
Total Operating Income
2.23 16 12
Total Gross Profit
148 150 125
Total Revenue
172 173 145
Operating Revenue
172 173 145
Total Cost of Revenue
24 23 20
Operating Cost of Revenue
24 23 20
Total Operating Expenses
145 134 113
Selling, General & Admin Expense
53 43 27
Marketing Expense
41 41 39
Research & Development Expense
35 29 30
Restructuring Charge
17 21 17
Total Other Income / (Expense), net
-3.14 -5.22 -8.60
Interest Expense
9.26 9.06 8.23
Other Income / (Expense), net
6.12 3.84 -0.37
Income Tax Expense
-4.19 2.31 -0.09
Basic Earnings per Share
$0.07 $0.18 $0.08
Weighted Average Basic Shares Outstanding
46.56M 45.53M 44.60M
Diluted Earnings per Share
$0.07 $0.17 $0.08
Weighted Average Diluted Shares Outstanding
47.47M 46.46M 45.78M
Weighted Average Basic & Diluted Shares Outstanding
44.92M - -

Quarterly Income Statements for Mitek Systems

This table shows Mitek Systems' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022 6/30/2022
Net Income / (Loss) Attributable to Common Shareholders
-4.61 8.57 0.22 0.28 -5.79 -1.44 -0.43 5.17 4.73 0.35 -0.22
Consolidated Net Income / (Loss)
-4.61 8.57 0.22 0.28 -5.79 -1.44 -0.43 5.17 4.73 0.35 -0.22
Net Income / (Loss) Continuing Operations
-4.61 8.57 0.22 0.28 -5.79 -1.44 -0.43 5.17 4.73 0.35 -0.22
Total Pre-Tax Income
-4.91 7.20 -0.16 -0.42 -7.54 -3.56 0.36 6.98 6.57 1.33 -1.10
Total Operating Income
-3.07 7.72 0.73 0.70 -6.92 -3.29 1.79 8.69 8.37 3.80 0.89
Total Gross Profit
31 37 38 41 31 31 37 40 41 34 33
Total Revenue
37 43 45 47 37 38 43 46 46 40 39
Operating Revenue
37 43 45 47 37 38 43 46 46 40 39
Total Cost of Revenue
5.94 6.16 6.48 6.22 5.53 6.27 5.71 5.90 5.07 5.22 5.78
Operating Cost of Revenue
5.94 6.16 6.48 6.22 5.53 6.27 5.71 5.90 5.07 5.22 5.78
Total Operating Expenses
34 29 38 40 38 35 36 32 32 31 33
Selling, General & Admin Expense
12 9.91 13 15 16 13 12 10 8.48 7.96 6.59
Marketing Expense
9.70 9.54 10 11 9.86 11 10 9.62 9.52 9.98 11
Research & Development Expense
8.32 6.07 9.98 9.71 8.87 6.48 7.46 7.37 7.67 8.28 8.41
Restructuring Charge
4.47 3.82 4.82 4.38 4.03 3.86 6.22 4.48 6.60 6.67 6.30
Total Other Income / (Expense), net
-1.84 -0.51 -0.89 -1.11 -0.62 -0.28 -1.44 -1.71 -1.80 -2.47 -1.99
Interest Expense
2.40 2.36 2.33 2.30 2.26 2.40 2.36 2.16 2.14 2.11 2.08
Other Income / (Expense), net
0.56 1.85 1.44 1.19 1.64 2.13 0.93 0.45 0.34 -0.37 0.09
Income Tax Expense
-0.30 -1.37 -0.38 -0.70 -1.74 -2.12 0.78 1.81 1.85 0.98 -0.88
Basic Earnings per Share
($0.10) $0.19 $0.00 $0.01 ($0.13) ($0.03) ($0.01) $0.11 $0.11 - $0.00
Weighted Average Basic Shares Outstanding
45.20M 46.56M 47.02M 46.90M 46.29M 45.53M 46.00M 45.38M 44.93M 44.60M 44.67M
Diluted Earnings per Share
($0.10) $0.19 $0.00 $0.01 ($0.13) ($0.03) ($0.01) $0.11 $0.10 - $0.00
Weighted Average Diluted Shares Outstanding
45.20M 47.47M 48.31M 48.04M 46.29M 46.46M 46.47M 45.78M 45.63M 45.78M 45.22M
Weighted Average Basic & Diluted Shares Outstanding
45.24M 44.92M 46.20M 46.79M - 0.00 - - - 0.00 -

Annual Cash Flow Statements for Mitek Systems

This table details how cash moves in and out of Mitek Systems' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 9/30/2024 9/30/2023 9/30/2022
Net Change in Cash & Equivalents
35 27 1.75
Net Cash From Operating Activities
32 32 21
Net Cash From Continuing Operating Activities
32 32 21
Net Income / (Loss) Continuing Operations
3.28 8.03 3.69
Consolidated Net Income / (Loss)
3.28 8.03 3.69
Depreciation Expense
1.76 1.73 1.40
Amortization Expense
22 25 24
Non-Cash Adjustments To Reconcile Net Income
18 -1.27 11
Changes in Operating Assets and Liabilities, net
-13 -2.23 -18
Net Cash From Investing Activities
29 -6.78 1.70
Net Cash From Continuing Investing Activities
29 -6.78 1.70
Purchase of Property, Plant & Equipment
-1.44 -1.03 -1.13
Acquisitions
0.00 -0.27 -123
Purchase of Investments
-62 -72 -48
Sale and/or Maturity of Investments
93 66 173
Net Cash From Financing Activities
-26 1.70 -21
Net Cash From Continuing Financing Activities
-26 1.70 -21
Repayment of Debt
-0.45 -0.04 -0.04
Repurchase of Common Equity
-24 0.00 -15
Issuance of Debt
1.50 0.00 0.00
Issuance of Common Equity
1.89 1.74 1.73
Other Financing Activities, net
-4.64 0.00 -7.66
Effect of Exchange Rate Changes
-0.01 0.35 0.07
Cash Interest Paid
1.27 1.41 1.16
Cash Income Taxes Paid
12 3.84 0.75

Quarterly Cash Flow Statements for Mitek Systems

This table details how cash moves in and out of Mitek Systems' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022 6/30/2022
Net Change in Cash & Equivalents
-2.84 9.11 3.41 16 5.63 -29 4.44 26 25 11 -2.44
Net Cash From Operating Activities
0.57 21 13 7.06 -9.46 3.47 17 6.30 5.26 5.11 6.33
Net Cash From Continuing Operating Activities
0.57 21 13 7.06 -9.46 3.47 17 6.30 5.26 5.11 6.33
Net Income / (Loss) Continuing Operations
-4.61 8.57 0.22 0.28 -5.79 -1.44 -0.43 5.17 4.73 0.35 -0.22
Consolidated Net Income / (Loss)
-4.61 8.57 0.22 0.28 -5.79 -1.44 -0.43 5.17 4.73 0.35 -0.22
Depreciation Expense
0.40 0.38 0.54 0.45 0.39 0.54 0.42 0.42 0.34 0.34 0.51
Amortization Expense
5.44 5.33 5.77 6.76 5.18 5.42 6.50 7.06 6.34 7.83 6.68
Non-Cash Adjustments To Reconcile Net Income
4.89 0.35 3.13 11 3.06 -5.87 4.03 3.63 -3.07 2.34 1.61
Changes in Operating Assets and Liabilities, net
-5.55 6.47 3.33 -12 -12 4.82 6.03 -9.99 -3.09 -5.75 -2.25
Net Cash From Investing Activities
0.84 0.91 0.45 9.50 18 -32 -12 19 19 3.86 -0.41
Net Cash From Continuing Investing Activities
0.84 0.91 0.45 9.50 18 -32 -12 19 19 3.86 -0.41
Purchase of Property, Plant & Equipment
-0.34 -0.28 -0.43 -0.48 -0.24 -0.38 -0.28 -0.22 -0.15 -0.20 -0.30
Purchase of Investments
-12 -17 -18 -12 -15 -48 -24 - 0.00 - -
Sale and/or Maturity of Investments
14 18 19 22 33 16 12 19 19 0.12 -0.12
Net Cash From Financing Activities
-3.13 -13 -9.86 0.10 -3.11 0.39 0.06 0.63 0.63 0.37 -7.78
Net Cash From Continuing Financing Activities
-3.13 -13 -9.86 0.10 -3.11 0.39 0.06 0.63 0.63 0.37 -7.78
Repayment of Debt
-0.05 -0.03 -0.04 -0.34 -0.04 - - - -0.04 - -
Repurchase of Common Equity
-3.26 -14 - - 0.00 - - - - -0.35 -
Issuance of Debt
0.00 0.32 0.22 0.25 0.71 - - - 0.00 - -
Issuance of Common Equity
0.18 0.84 0.01 0.19 0.86 0.39 0.06 0.63 0.66 0.56 0.03
Other Financing Activities, net
0.00 - - - -4.64 - - - 0.00 0.16 -
Effect of Exchange Rate Changes
-1.12 0.10 -0.17 -0.26 0.31 -0.03 -0.06 -0.13 0.57 1.18 -0.58
Cash Income Taxes Paid
0.69 0.05 3.43 0.67 7.84 1.78 - 1.84 0.21 -0.07 0.22

Annual Balance Sheets for Mitek Systems

This table presents Mitek Systems' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022
Period end date 9/30/2024 9/30/2023 9/30/2022
Total Assets
414 405 364
Total Current Assets
185 190 138
Cash & Equivalents
93 59 32
Short-Term Investments
37 75 58
Accounts Receivable
32 32 36
Prepaid Expenses
4.51 3.51 1.95
Other Current Assets
19 21 9.66
Plant, Property, & Equipment, net
2.56 2.83 3.49
Total Noncurrent Assets
226 213 223
Long-Term Investments
11 1.30 11
Goodwill
132 124 116
Intangible Assets
54 65 76
Noncurrent Deferred & Refundable Income Taxes
19 12 10
Other Noncurrent Operating Assets
9.87 11 11
Total Liabilities & Shareholders' Equity
414 405 364
Total Liabilities
199 200 194
Total Current Liabilities
42 51 48
Accounts Payable
7.24 7.59 4.97
Accrued Expenses
0.42 0.03 -
Current Deferred Revenue
21 17 21
Current Employee Benefit Liabilities
10 11 10
Other Taxes Payable
1.22 - -
Other Current Liabilities
1.51 3.36 5.41
Other Current Nonoperating Liabilities
0.21 0.31 0.20
Total Noncurrent Liabilities
157 149 145
Long-Term Debt
144 136 128
Noncurrent Deferred Revenue
0.75 0.96 1.78
Noncurrent Deferred & Payable Income Tax Liabilities
3.89 6.48 9.58
Other Noncurrent Operating Liabilities
8.56 5.74 5.72
Total Equity & Noncontrolling Interests
215 205 171
Total Preferred & Common Equity
215 205 171
Preferred Stock
0.00 0.00 0.00
Total Common Equity
215 205 171
Common Stock
247 229 217
Retained Earnings
-30 -9.31 -17
Accumulated Other Comprehensive Income / (Loss)
-2.30 -14 -28

Quarterly Balance Sheets for Mitek Systems

This table presents Mitek Systems' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 12/31/2024 6/30/2024 3/31/2024 12/31/2023 6/30/2023 3/31/2023 12/31/2022 6/30/2022
Total Assets
396 409 417 405 417 402 386 374
Total Current Assets
177 196 202 186 178 160 141 112
Cash & Equivalents
91 84 81 65 87 83 57 22
Short-Term Investments
31 39 43 59 41 27 45 50
Accounts Receivable
32 42 52 35 38 36 28 30
Prepaid Expenses
5.05 12 7.78 6.91 2.23 2.79 2.27 3.08
Other Current Assets
18 19 18 20 10 12 8.23 8.32
Plant, Property, & Equipment, net
2.42 2.60 2.71 2.70 3.01 3.15 3.37 3.80
Total Noncurrent Assets
217 211 213 217 236 239 242 258
Long-Term Investments
17 10 6.34 0.00 2.82 4.77 5.67 20
Goodwill
125 126 126 128 132 130 128 127
Intangible Assets
48 55 59 63 70 73 77 86
Noncurrent Deferred & Refundable Income Taxes
19 13 14 13 19 17 14 14
Other Noncurrent Operating Assets
8.26 6.09 7.61 13 13 13 17 12
Total Liabilities & Shareholders' Equity
396 409 417 405 417 402 386 374
Total Liabilities
195 200 201 192 210 199 194 198
Total Current Liabilities
39 44 47 40 54 45 42 45
Accounts Payable
4.98 6.28 9.06 10 7.73 5.45 6.08 3.98
Accrued Expenses
0.51 - - - 1.23 1.49 1.23 4.02
Current Deferred Revenue
22 24 26 18 13 12 13 14
Current Employee Benefit Liabilities
7.54 11 9.59 7.06 9.55 7.89 6.38 10
Other Taxes Payable
1.77 - - - - - - -
Other Current Liabilities
1.55 2.37 2.49 3.39 3.64 3.35 3.83 5.76
Other Current Nonoperating Liabilities
0.50 0.50 0.21 0.60 0.67 0.22 0.50 0.00
Total Noncurrent Liabilities
156 156 154 152 156 154 152 153
Long-Term Debt
146 142 139 137 134 132 130 126
Noncurrent Deferred Revenue
0.69 1.26 1.02 1.05 2.06 1.21 1.24 1.41
Noncurrent Deferred & Payable Income Tax Liabilities
3.64 6.70 6.69 6.76 16 16 15 19
Other Noncurrent Operating Liabilities
6.46 6.20 6.42 6.70 4.54 5.07 5.66 6.61
Total Equity & Noncontrolling Interests
201 210 216 214 208 203 191 176
Total Preferred & Common Equity
201 210 216 214 208 203 191 176
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
201 210 216 214 208 203 191 176
Common Stock
252 244 241 236 226 223 220 211
Retained Earnings
-38 -25 -15 -15 -8.53 -8.10 -13 -18
Accumulated Other Comprehensive Income / (Loss)
-13 -9.87 -9.60 -7.59 -9.50 -12 -15 -18

Annual Metrics And Ratios for Mitek Systems

This table displays calculated financial ratios and metrics derived from Mitek Systems' official financial filings.

Metric 2024 2023 2022
Period end date 9/30/2024 9/30/2023 9/30/2022
Growth Metrics
- - -
Revenue Growth
-0.27% 19.16% 20.87%
EBITDA Growth
-30.30% 26.17% 29.15%
EBIT Growth
-56.97% 63.97% -15.05%
NOPAT Growth
-87.07% -3.44% 3.97%
Net Income Growth
-59.16% 117.30% -53.70%
EPS Growth
-58.82% 112.50% -55.56%
Operating Cash Flow Growth
0.32% 49.56% -43.44%
Free Cash Flow Firm Growth
-157.78% 102.25% -557.42%
Invested Capital Growth
1.30% 4.88% 109.61%
Revenue Q/Q Growth
3.34% -1.13% 4.59%
EBITDA Q/Q Growth
58.72% -10.57% 9.51%
EBIT Q/Q Growth
451.14% -19.15% -4.81%
NOPAT Q/Q Growth
125.44% -17.25% -7.00%
Net Income Q/Q Growth
148.67% -18.23% -28.29%
EPS Q/Q Growth
146.67% -15.00% -33.33%
Operating Cash Flow Q/Q Growth
125.39% -4.92% -25.47%
Free Cash Flow Firm Q/Q Growth
78.19% -83.41% 6.81%
Invested Capital Q/Q Growth
-0.73% -2.23% -6.01%
Profitability Metrics
- - -
Gross Margin
85.82% 86.70% 86.18%
EBITDA Margin
18.82% 26.93% 25.43%
Operating Margin
1.30% 9.02% 8.43%
EBIT Margin
4.85% 11.25% 8.17%
Profit (Net Income) Margin
1.90% 4.65% 2.55%
Tax Burden Percent
-360.62% 77.62% 102.55%
Interest Burden Percent
-10.89% 53.29% 30.44%
Effective Tax Rate
0.00% 22.38% -2.55%
Return on Invested Capital (ROIC)
0.72% 5.78% 8.30%
ROIC Less NNEP Spread (ROIC-NNEP)
32.11% -13.52% 36.60%
Return on Net Nonoperating Assets (RNNOA)
0.84% -1.51% -6.27%
Return on Equity (ROE)
1.56% 4.27% 2.03%
Cash Return on Invested Capital (CROIC)
-0.57% 1.02% -62.50%
Operating Return on Assets (OROA)
2.04% 5.04% 3.02%
Return on Assets (ROA)
0.80% 2.09% 0.94%
Return on Common Equity (ROCE)
1.56% 4.27% 2.03%
Return on Equity Simple (ROE_SIMPLE)
1.53% 3.91% 2.16%
Net Operating Profit after Tax (NOPAT)
1.56 12 13
NOPAT Margin
0.91% 7.00% 8.64%
Net Nonoperating Expense Percent (NNEP)
-31.39% 19.30% -28.30%
Return On Investment Capital (ROIC_SIMPLE)
0.44% 3.46% 4.10%
Cost of Revenue to Revenue
14.18% 13.30% 13.82%
SG&A Expenses to Revenue
30.80% 25.12% 18.36%
R&D to Revenue
20.13% 16.80% 20.85%
Operating Expenses to Revenue
84.53% 77.68% 77.76%
Earnings before Interest and Taxes (EBIT)
8.35 19 12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
32 46 37
Valuation Ratios
- - -
Price to Book Value (P/BV)
1.86 2.38 2.38
Price to Tangible Book Value (P/TBV)
13.77 28.81 0.00
Price to Revenue (P/Rev)
2.33 2.83 2.81
Price to Earnings (P/E)
122.20 60.88 109.97
Dividend Yield
0.00% 0.00% 0.00%
Earnings Yield
0.82% 1.64% 0.91%
Enterprise Value to Invested Capital (EV/IC)
1.86 2.32 2.15
Enterprise Value to Revenue (EV/Rev)
2.34 2.88 3.03
Enterprise Value to EBITDA (EV/EBITDA)
12.43 10.70 11.93
Enterprise Value to EBIT (EV/EBIT)
48.20 25.63 37.11
Enterprise Value to NOPAT (EV/NOPAT)
257.69 41.16 35.10
Enterprise Value to Operating Cash Flow (EV/OCF)
12.70 15.74 20.79
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 234.10 0.00
Leverage & Solvency
- - -
Debt to Equity
0.67 0.70 0.78
Long-Term Debt to Equity
0.67 0.66 0.75
Financial Leverage
0.03 0.11 -0.17
Leverage Ratio
1.95 2.05 2.16
Compound Leverage Factor
-0.21 1.09 0.66
Debt to Total Capital
40.07% 41.15% 43.92%
Short-Term Debt to Total Capital
0.00% 2.29% 1.94%
Long-Term Debt to Total Capital
40.07% 38.87% 41.98%
Preferred Equity to Total Capital
0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00%
Common Equity to Total Capital
59.93% 58.85% 56.08%
Debt to EBITDA
4.43 3.09 3.64
Net Debt to EBITDA
0.06 0.18 0.89
Long-Term Debt to EBITDA
4.43 2.92 3.48
Debt to NOPAT
91.95 11.88 10.70
Net Debt to NOPAT
1.19 0.71 2.63
Long-Term Debt to NOPAT
91.95 11.22 10.23
Altman Z-Score
2.00 2.43 1.99
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00%
Liquidity Ratios
- - -
Current Ratio
4.39 3.69 2.84
Quick Ratio
3.84 3.22 2.61
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
-1.23 2.12 -94
Operating Cash Flow to CapEx
2,203.62% 3,054.74% 1,875.58%
Free Cash Flow to Firm to Interest Expense
-0.13 0.23 -11.45
Operating Cash Flow to Interest Expense
3.42 3.49 2.57
Operating Cash Flow Less CapEx to Interest Expense
3.27 3.37 2.43
Efficiency Ratios
- - -
Asset Turnover
0.42 0.45 0.37
Accounts Receivable Turnover
5.39 5.07 5.51
Inventory Turnover
0.00 0.00 0.00
Fixed Asset Turnover
63.82 54.59 40.43
Accounts Payable Turnover
3.29 3.65 5.35
Days Sales Outstanding (DSO)
67.68 71.98 66.20
Days Inventory Outstanding (DIO)
0.00 0.00 0.00
Days Payable Outstanding (DPO)
110.91 99.90 68.24
Cash Conversion Cycle (CCC)
-43.23 -27.92 -2.04
Capital & Investment Metrics
- - -
Invested Capital
217 214 204
Invested Capital Turnover
0.80 0.83 0.96
Increase / (Decrease) in Invested Capital
2.79 9.96 107
Enterprise Value (EV)
402 497 439
Market Capitalization
401 489 406
Book Value per Share
$4.65 $4.50 $3.86
Tangible Book Value per Share
$0.63 $0.37 ($0.46)
Total Capital
358 349 305
Total Debt
144 143 134
Total Long-Term Debt
144 136 128
Net Debt
1.85 8.58 33
Capital Expenditures (CapEx)
1.44 1.03 1.13
Debt-free, Cash-free Net Working Capital (DFCFNWC)
13 13 4.99
Debt-free Net Working Capital (DFNWC)
143 146 95
Net Working Capital (NWC)
143 139 89
Net Nonoperating Expense (NNE)
-1.72 4.05 8.82
Net Nonoperating Obligations (NNO)
2.06 8.88 33
Total Depreciation and Amortization (D&A)
24 27 25
Debt-free, Cash-free Net Working Capital to Revenue
7.30% 7.46% 3.45%
Debt-free Net Working Capital to Revenue
83.04% 84.90% 65.82%
Net Working Capital to Revenue
83.04% 80.27% 61.74%
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
$0.07 $0.18 $0.00
Adjusted Weighted Average Basic Shares Outstanding
46.56M 45.53M 0.00
Adjusted Diluted Earnings per Share
$0.07 $0.17 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
47.47M 46.46M 0.00
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
44.92M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)
13 29 20
Normalized NOPAT Margin
7.84% 16.52% 14.10%
Pre Tax Income Margin
-0.53% 5.99% 2.49%
Debt Service Ratios
- - -
EBIT to Interest Expense
0.90 2.14 1.44
NOPAT to Interest Expense
0.17 1.33 1.52
EBIT Less CapEx to Interest Expense
0.75 2.03 1.30
NOPAT Less CapEx to Interest Expense
0.01 1.22 1.38
Payout Ratios
- - -
Dividend Payout Ratio
0.00% 0.00% 0.00%
Augmented Payout Ratio
737.64% 0.00% 410.83%

Quarterly Metrics And Ratios for Mitek Systems

This table displays calculated financial ratios and metrics derived from Mitek Systems' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022 6/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
0.91% 14.78% 4.43% 1.83% -19.22% -4.97% 9.89% 37.64% 40.74% 19.10% 23.34%
EBITDA Growth
1,018.18% 217.97% -11.99% -45.28% -98.07% -58.59% 18.01% 123.36% 60.07% 38.09% -19.45%
EBIT Growth
52.39% 923.24% -20.13% -79.34% -160.56% -133.85% 176.68% 272.30% 75.44% -14.84% -82.18%
NOPAT Growth
55.55% 499.13% 123.78% -92.41% -180.40% -329.52% -445.62% 129.08% 17.98% -65.46% -87.32%
Net Income Growth
20.39% 695.35% 150.47% -94.54% -222.58% -511.43% -99.07% 1,088.28% 51.28% -80.63% -107.20%
EPS Growth
23.08% 733.33% 100.00% -90.91% -230.00% 0.00% 0.00% 1,000.00% 42.86% 0.00% -100.00%
Operating Cash Flow Growth
105.97% 507.60% -21.55% 12.11% -279.90% -31.98% 161.61% -15.25% 133.67% -58.57% -29.35%
Free Cash Flow Firm Growth
231.01% 152.17% 125.95% -77.38% 88.61% 88.41% 96.53% 103.84% -297.32% -350.61% -282.74%
Invested Capital Growth
-8.21% 1.30% -0.23% -0.39% 3.55% 4.88% 0.83% 0.17% 113.65% 109.61% 111.65%
Revenue Q/Q Growth
-13.81% -3.90% -4.24% 27.23% -1.96% -12.57% -6.62% 0.92% 15.34% 1.10% 16.97%
EBITDA Q/Q Growth
-78.25% 80.02% -6.76% 2,060.56% -93.82% -50.18% -42.03% 7.98% 49.61% 42.00% 9.73%
EBIT Q/Q Growth
-126.25% 340.83% 14.94% 135.80% -353.87% -142.77% -70.27% 4.95% 153.68% 249.59% -60.00%
NOPAT Q/Q Growth
-123.43% 1,687.40% 5.16% 110.09% -110.40% -6.50% -133.57% 6.88% 500.62% 60.37% -77.75%
Net Income Q/Q Growth
-153.80% 3,868.98% -23.40% 104.87% -302.29% -236.45% -108.28% 9.37% 1,250.29% 262.79% -149.43%
EPS Q/Q Growth
-152.63% 0.00% -100.00% 107.69% -333.33% -200.00% -109.09% 10.00% 0.00% 0.00% -100.00%
Operating Cash Flow Q/Q Growth
-97.32% 62.51% 83.82% 174.65% -372.47% -79.02% 162.69% 19.79% 3.02% -19.30% -14.90%
Free Cash Flow Firm Q/Q Growth
159.17% 523.38% -24.99% 110.81% -3.20% -210.13% -165.37% 105.44% -5.07% 7.20% 27.59%
Invested Capital Q/Q Growth
-3.51% -0.73% -3.17% -1.05% 6.49% -2.23% -3.32% 2.86% 7.86% -6.01% -3.94%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
84.04% 85.74% 85.59% 86.77% 85.01% 83.34% 86.74% 87.21% 88.91% 86.83% 85.24%
EBITDA Margin
8.91% 35.33% 18.86% 19.37% 0.80% 12.75% 22.38% 36.04% 33.69% 29.27% 20.84%
Operating Margin
-8.25% 17.85% 1.63% 1.49% -18.73% -8.73% 4.16% 18.83% 18.32% 9.58% 2.28%
EBIT Margin
-6.74% 22.13% 4.82% 4.02% -14.29% -3.09% 6.31% 19.82% 19.06% 8.66% 2.51%
Profit (Net Income) Margin
-12.38% 19.83% 0.48% 0.60% -15.69% -3.82% -0.99% 11.21% 10.34% 0.88% -0.55%
Tax Burden Percent
93.95% 119.04% -135.85% -67.95% 76.86% 40.42% -120.56% 74.09% 71.91% 26.40% 19.63%
Interest Burden Percent
195.50% 75.29% -7.33% -21.98% 142.91% 306.63% 13.07% 76.33% 75.46% 38.63% -111.51%
Effective Tax Rate
0.00% -19.04% 0.00% 0.00% 0.00% 0.00% 220.56% 25.91% 28.09% 73.60% 0.00%
Return on Invested Capital (ROIC)
-4.56% 16.97% 0.87% 0.76% -9.58% -5.04% -4.01% 10.52% 12.88% 2.43% 1.38%
ROIC Less NNEP Spread (ROIC-NNEP)
-26.42% 5.80% -2.09% -0.50% -14.00% -0.94% 2.55% 6.60% 17.56% 4.52% 5.16%
Return on Net Nonoperating Assets (RNNOA)
-1.43% 0.15% -0.10% -0.04% -1.49% -0.11% 0.35% 1.10% -2.57% -0.78% -0.63%
Return on Equity (ROE)
-5.99% 17.12% 0.77% 0.72% -11.08% -5.15% -3.66% 11.62% 10.31% 1.66% 0.75%
Cash Return on Invested Capital (CROIC)
15.77% -0.57% -2.57% -2.00% -3.40% 1.02% 5.87% 6.82% -65.32% -62.50% -63.24%
Operating Return on Assets (OROA)
-2.90% 9.30% 1.94% 1.62% -5.92% -1.38% 2.78% 8.61% 7.64% 3.20% 0.87%
Return on Assets (ROA)
-5.33% 8.33% 0.19% 0.24% -6.50% -1.71% -0.44% 4.87% 4.14% 0.33% -0.19%
Return on Common Equity (ROCE)
-5.99% 17.12% 0.77% 0.72% -11.08% -5.15% -3.66% 11.62% 10.31% 1.66% 0.75%
Return on Equity Simple (ROE_SIMPLE)
2.22% 0.00% -3.21% -3.41% -1.17% 0.00% 4.73% 4.94% 2.77% 0.00% 2.93%
Net Operating Profit after Tax (NOPAT)
-2.15 9.18 0.51 0.49 -4.84 -2.30 -2.16 6.44 6.02 1.00 0.63
NOPAT Margin
-5.78% 21.25% 1.14% 1.04% -13.11% -6.11% -5.02% 13.95% 13.17% 2.53% 1.59%
Net Nonoperating Expense Percent (NNEP)
21.87% 11.17% 2.96% 1.26% 4.41% -4.10% -6.57% 3.92% -4.67% -2.09% -3.78%
Return On Investment Capital (ROIC_SIMPLE)
-0.62% 2.56% - - -1.38% -0.66% - - - 0.33% -
Cost of Revenue to Revenue
15.96% 14.26% 14.41% 13.23% 14.99% 16.66% 13.26% 12.79% 11.09% 13.17% 14.76%
SG&A Expenses to Revenue
31.95% 22.92% 28.02% 31.82% 42.09% 35.09% 26.91% 21.81% 18.55% 20.09% 16.82%
R&D to Revenue
22.34% 14.05% 22.19% 20.68% 24.04% 17.22% 17.32% 15.99% 16.78% 20.89% 21.46%
Operating Expenses to Revenue
92.30% 67.89% 83.96% 85.28% 103.74% 92.07% 82.58% 68.38% 70.59% 77.25% 82.96%
Earnings before Interest and Taxes (EBIT)
-2.51 9.57 2.17 1.89 -5.27 -1.16 2.72 9.14 8.71 3.43 0.98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
3.32 15 8.48 9.10 0.30 4.80 9.64 17 15 12 8.17
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.49 1.86 2.50 3.05 2.78 2.38 2.33 2.11 2.26 2.38 2.33
Price to Tangible Book Value (P/TBV)
17.60 13.77 18.55 21.35 25.89 28.81 85.05 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
2.90 2.33 3.14 4.01 3.63 2.83 2.78 2.51 2.74 2.81 2.96
Price to Earnings (P/E)
112.12 122.20 0.00 0.00 0.00 60.88 49.34 42.72 81.75 109.97 79.55
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield
0.89% 0.82% 0.00% 0.00% 0.00% 1.64% 2.03% 2.34% 1.22% 0.91% 1.26%
Enterprise Value to Invested Capital (EV/IC)
2.43 1.86 2.43 2.97 2.67 2.32 2.26 1.99 2.10 2.15 2.08
Enterprise Value to Revenue (EV/Rev)
2.94 2.34 3.19 4.06 3.71 2.88 2.84 2.65 2.92 3.03 3.26
Enterprise Value to EBITDA (EV/EBITDA)
14.34 12.43 26.05 31.03 19.39 10.70 9.53 8.95 11.17 11.93 13.42
Enterprise Value to EBIT (EV/EBIT)
45.69 48.20 0.00 0.00 112.17 25.63 20.62 20.29 29.62 37.11 36.29
Enterprise Value to NOPAT (EV/NOPAT)
32.23 257.69 0.00 0.00 3,158.77 41.16 33.90 28.53 39.94 35.10 33.54
Enterprise Value to Operating Cash Flow (EV/OCF)
12.17 12.70 37.80 37.95 36.06 15.74 14.90 19.64 19.12 20.79 15.92
Enterprise Value to Free Cash Flow (EV/FCFF)
14.73 0.00 0.00 0.00 0.00 234.10 38.65 29.25 0.00 0.00 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.73 0.67 0.68 0.65 0.64 0.70 0.68 0.68 0.71 0.78 0.75
Long-Term Debt to Equity
0.73 0.67 0.68 0.65 0.64 0.66 0.64 0.65 0.68 0.75 0.72
Financial Leverage
0.05 0.03 0.05 0.08 0.11 0.11 0.14 0.17 -0.15 -0.17 -0.12
Leverage Ratio
1.93 1.95 1.98 1.95 1.95 2.05 2.06 2.03 2.08 2.16 2.19
Compound Leverage Factor
3.78 1.47 -0.15 -0.43 2.79 6.28 0.27 1.55 1.57 0.83 -2.44
Debt to Total Capital
42.04% 40.07% 40.30% 39.22% 39.14% 41.15% 40.54% 40.42% 41.58% 43.92% 42.91%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 2.29% 2.29% 1.78% 1.91% 1.94% 1.92%
Long-Term Debt to Total Capital
42.04% 40.07% 40.30% 39.22% 39.14% 38.87% 38.25% 38.64% 39.67% 41.98% 40.99%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
57.96% 59.93% 59.70% 60.78% 60.86% 58.85% 59.46% 59.58% 58.42% 56.08% 57.09%
Debt to EBITDA
4.12 4.43 6.94 6.47 4.38 3.09 2.73 2.73 3.29 3.64 3.93
Net Debt to EBITDA
0.22 0.06 0.41 0.43 0.43 0.18 0.20 0.46 0.69 0.89 1.23
Long-Term Debt to EBITDA
4.12 4.43 6.94 6.47 4.38 2.92 2.57 2.61 3.14 3.48 3.75
Debt to NOPAT
9.25 91.95 -23.05 -25.84 714.21 11.88 9.70 8.70 11.78 10.70 9.82
Net Debt to NOPAT
0.50 1.19 -1.35 -1.71 70.52 0.71 0.73 1.47 2.46 2.63 3.08
Long-Term Debt to NOPAT
9.25 91.95 -23.05 -25.84 714.21 11.22 9.15 8.32 11.24 10.23 9.38
Altman Z-Score
2.24 2.01 2.36 2.77 2.60 2.26 2.15 2.11 2.08 1.92 1.77
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
4.59 4.39 4.46 4.27 4.70 3.69 3.32 3.54 3.32 2.84 2.49
Quick Ratio
3.98 3.84 3.75 3.72 4.02 3.22 3.09 3.22 3.07 2.61 2.24
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
17 6.39 1.03 1.37 -13 -12 -3.95 6.05 -111 -106 -114
Operating Cash Flow to CapEx
168.66% 7,456.54% 3,012.76% 1,462.53% -3,926.56% 918.78% 5,828.17% 2,890.37% 3,415.58% 2,591.88% 2,144.75%
Free Cash Flow to Firm to Interest Expense
6.91 2.71 0.44 0.59 -5.59 -5.11 -1.67 2.80 -51.99 -50.18 -54.85
Operating Cash Flow to Interest Expense
0.24 8.93 5.58 3.07 -4.18 1.45 7.01 2.91 2.46 2.42 3.05
Operating Cash Flow Less CapEx to Interest Expense
0.10 8.81 5.39 2.86 -4.29 1.29 6.89 2.81 2.39 2.33 2.90
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.43 0.42 0.40 0.40 0.41 0.45 0.44 0.43 0.40 0.37 0.35
Accounts Receivable Turnover
5.10 5.39 4.20 3.74 5.16 5.07 5.20 5.71 6.99 5.51 5.75
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
67.44 63.82 59.40 56.18 54.03 54.59 51.24 48.14 45.02 40.43 37.44
Accounts Payable Turnover
3.27 3.29 3.50 3.27 2.88 3.65 3.74 3.62 4.74 5.35 5.44
Days Sales Outstanding (DSO)
71.57 67.68 86.83 97.59 70.80 71.98 70.24 63.89 52.19 66.20 63.45
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
111.48 110.91 104.33 111.57 126.64 99.90 97.63 100.86 76.93 68.24 67.14
Cash Conversion Cycle (CCC)
-39.91 -43.23 -17.50 -13.98 -55.85 -27.92 -27.39 -36.96 -24.74 -2.04 -3.68
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
209 217 218 226 228 214 219 226 220 204 217
Invested Capital Turnover
0.79 0.80 0.76 0.73 0.73 0.83 0.80 0.75 0.98 0.96 0.87
Increase / (Decrease) in Invested Capital
-19 2.79 -0.51 -0.88 7.81 9.96 1.79 0.39 117 107 115
Enterprise Value (EV)
508 402 531 669 608 497 495 452 461 439 451
Market Capitalization
500 401 523 660 594 489 484 428 433 406 410
Book Value per Share
$4.47 $4.65 $4.48 $4.62 $4.69 $4.50 $4.65 $4.54 $4.28 $3.86 $3.96
Tangible Book Value per Share
$0.63 $0.63 $0.60 $0.66 $0.50 $0.37 $0.13 ($0.01) ($0.30) ($0.46) ($0.84)
Total Capital
347 358 351 356 351 349 349 341 327 305 308
Total Debt
146 144 142 139 137 143 142 138 136 134 132
Total Long-Term Debt
146 144 142 139 137 136 134 132 130 128 126
Net Debt
7.83 1.85 8.31 9.23 14 8.58 11 23 28 33 41
Capital Expenditures (CapEx)
0.34 0.28 0.43 0.48 0.24 0.38 0.28 0.22 0.15 0.20 0.30
Debt-free, Cash-free Net Working Capital (DFCFNWC)
17 13 29 30 22 13 4.42 11 2.66 4.99 1.94
Debt-free Net Working Capital (DFNWC)
138 143 152 154 146 146 133 121 105 95 73
Net Working Capital (NWC)
138 143 152 154 146 139 125 115 98 89 67
Net Nonoperating Expense (NNE)
2.46 0.61 0.30 0.21 0.95 -0.86 -1.73 1.27 1.30 0.65 0.84
Net Nonoperating Obligations (NNO)
8.33 2.06 8.81 9.44 14 8.88 11 23 29 33 41
Total Depreciation and Amortization (D&A)
5.83 5.70 6.31 7.21 5.57 5.96 6.92 7.49 6.69 8.16 7.19
Debt-free, Cash-free Net Working Capital to Revenue
9.91% 7.30% 17.24% 18.48% 13.71% 7.46% 2.53% 6.57% 1.68% 3.45% 1.40%
Debt-free Net Working Capital to Revenue
80.21% 83.04% 91.15% 93.77% 89.37% 84.90% 75.95% 70.88% 66.18% 65.82% 52.74%
Net Working Capital to Revenue
80.21% 83.04% 91.15% 93.77% 89.37% 80.27% 71.36% 67.33% 62.22% 61.74% 48.48%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.10) $0.19 $0.00 $0.01 ($0.13) ($0.03) ($0.01) $0.11 $0.11 $0.00 $0.02
Adjusted Weighted Average Basic Shares Outstanding
45.20M 46.56M 47.02M 46.90M 46.29M 45.53M 46.00M 45.38M 44.93M 44.60M 44.67M
Adjusted Diluted Earnings per Share
($0.10) $0.19 $0.00 $0.01 ($0.13) ($0.03) ($0.01) $0.11 $0.10 $0.00 $0.02
Adjusted Weighted Average Diluted Shares Outstanding
45.20M 47.47M 48.31M 48.04M 46.29M 46.46M 46.47M 45.78M 45.63M 45.78M 45.22M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
45.24M 44.92M 46.20M 46.79M 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)
0.97 8.08 3.89 3.55 -2.02 0.40 5.61 9.76 11 7.33 5.04
Normalized NOPAT Margin
2.61% 18.69% 8.64% 7.57% -5.47% 1.06% 13.02% 21.15% 23.55% 18.49% 12.85%
Pre Tax Income Margin
-13.18% 16.66% -0.35% -0.88% -20.42% -9.46% 0.82% 15.13% 14.38% 3.35% -2.79%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
-1.05 4.05 0.93 0.82 -2.33 -0.48 1.15 4.23 4.08 1.63 0.47
NOPAT to Interest Expense
-0.90 3.88 0.22 0.21 -2.14 -0.96 -0.91 2.98 2.82 0.48 0.30
EBIT Less CapEx to Interest Expense
-1.19 3.93 0.75 0.61 -2.44 -0.64 1.03 4.12 4.00 1.54 0.33
NOPAT Less CapEx to Interest Expense
-1.04 3.77 0.04 0.00 -2.25 -1.12 -1.03 2.87 2.75 0.38 0.16
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio
615.32% 737.64% -149.07% 0.00% 0.00% 0.00% 3.54% 0.00% 0.00% 410.83% 291.56%

Frequently Asked Questions About Mitek Systems' Financials

When does Mitek Systems's fiscal year end?

According to the most recent income statement we have on file, Mitek Systems' financial year ends in September. Their financial year 2024 ended on September 30, 2024.

How has Mitek Systems' net income changed over the last 2 years?

Mitek Systems' net income appears to be on a downward trend, with a most recent value of $3.28 million in 2024, falling from $3.69 million in 2022. The previous period was $8.03 million in 2023. See Mitek Systems' forecast for analyst expectations on what’s next for the company.

What is Mitek Systems's operating income?
Mitek Systems's total operating income in 2024 was $2.23 million, based on the following breakdown:
  • Total Gross Profit: $147.69 million
  • Total Operating Expenses: $145.46 million
How has Mitek Systems revenue changed over the last 2 years?

Over the last 2 years, Mitek Systems' total revenue changed from $144.80 million in 2022 to $172.08 million in 2024, a change of 18.8%.

How much debt does Mitek Systems have?

Mitek Systems' total liabilities were at $198.95 million at the end of 2024, a 0.6% decrease from 2023, and a 2.8% increase since 2022.

How much cash does Mitek Systems have?

In the past 2 years, Mitek Systems' cash and equivalents has ranged from $32.06 million in 2022 to $93.46 million in 2024, and is currently $93.46 million as of their latest financial filing in 2024.

How has Mitek Systems' book value per share changed over the last 2 years?

Over the last 2 years, Mitek Systems' book value per share changed from 3.86 in 2022 to 4.65 in 2024, a change of 20.6%.



This page (NASDAQ:MITK) was last updated on 5/27/2025 by MarketBeat.com Staff
From Our Partners