Mitek Systems (MITK) Financials

$17.19 +0.51 (+3.06%)

Closing price 05/27/2026 04:00 PM Eastern

Extended Trading

$17.30 +0.11 (+0.64%)

As of 05:25 AM Eastern

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Income / (Loss) Attributable to Common Shareholders	2.53	1.96	14	-12	-0.72	7.81	7.98	3.69	8.03	3.28	8.80
Consolidated Net Income / (Loss)	2.53	1.96	14	-12	-0.72	7.81	7.98	3.69	8.03	3.28	8.80
Net Income / (Loss) Continuing Operations	2.53	1.96	14	-12	-0.72	7.81	7.98	3.69	8.03	3.28	8.80
Total Pre-Tax Income	1.98	1.96	3.17	-8.74	-3.99	9.41	8.80	3.60	10	-0.91	12
Total Operating Income	1.89	1.82	2.77	-7.81	-4.59	8.87	13	12	16	2.23	17
Total Gross Profit	23	31	41	55	72	101	105	125	150	148	153
Total Revenue	25	35	45	64	85	101	120	145	173	172	180
Operating Revenue	25	35	45	64	85	101	120	145	173	172	180
Total Cost of Revenue	2.47	3.40	4.04	8.69	12	0.00	15	20	23	24	27
Operating Cost of Revenue	2.47	3.40	4.04	8.69	12	-	15	20	23	24	27
Total Operating Expenses	21	29	39	63	77	92	92	113	134	145	136
Selling, General & Admin Expense	7.60	8.58	11	17	20	22	22	27	43	53	44
Marketing Expense	6.46	11	14	19	25	28	32	39	41	41	42
Research & Development Expense	5.58	7.79	10	18	22	23	28	30	29	35	35
Restructuring Charge	1.37	2.18	2.36	8.24	11	-0.11	0.00	17	21	17	15
Total Other Income / (Expense), net	0.09	0.13	0.40	-0.94	0.60	0.54	-4.48	-8.60	-5.22	-3.14	-5.18
Interest Expense	-	-	-	-	-	0.00	5.13	8.23	9.06	9.26	9.78
Other Income / (Expense), net	0.09	0.13	0.40	-0.94	0.60	0.54	0.65	-0.37	3.84	6.12	4.60
Income Tax Expense	-0.54	-0.00	-11	3.07	-3.26	1.60	0.82	-0.09	2.31	-4.19	2.81
Basic Earnings per Share	$0.08	$0.06	$0.43	($0.33)	($0.02)	$0.19	$0.18	$0.08	$0.18	$0.07	$0.19
Weighted Average Basic Shares Outstanding	30.79M	31.59M	33.08M	35.81M	39.34M	41.41M	43.51M	44.60M	45.53M	46.56M	45.72M
Diluted Earnings per Share	$0.08	$0.06	$0.40	($0.33)	($0.02)	$0.18	$0.18	$0.08	$0.17	$0.07	$0.19
Weighted Average Diluted Shares Outstanding	31.48M	33.82M	35.54M	35.81M	39.34M	42.53M	45.08M	45.78M	46.46M	47.47M	46.93M
Weighted Average Basic & Diluted Shares Outstanding	31.60M	32.70M	32.80M	17.90M	39.34M	42.52M	44.62M	-	-	44.92M	45.74M

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-1.44	-5.79	0.28	0.22	8.57	-4.61	9.15	2.40	1.86	2.77	9.54
Consolidated Net Income / (Loss)	-1.44	-5.79	0.28	0.22	8.57	-4.61	9.15	2.40	1.86	2.77	9.54
Net Income / (Loss) Continuing Operations	-1.44	-5.79	0.28	0.22	8.57	-4.61	9.15	2.40	1.86	2.77	9.54
Total Pre-Tax Income	-3.56	-7.54	-0.42	-0.16	7.20	-4.91	10	3.15	3.31	4.40	13
Total Operating Income	-3.29	-6.92	0.70	0.73	7.72	-3.07	11	3.81	4.69	5.44	14
Total Gross Profit	31	31	41	38	37	31	45	39	37	36	46
Total Revenue	38	37	47	45	43	37	52	46	45	44	55
Operating Revenue	38	37	47	45	43	37	52	46	45	44	55
Total Cost of Revenue	6.27	5.53	6.22	6.48	6.16	5.94	6.53	7.02	7.29	8.41	8.56
Operating Cost of Revenue	6.27	5.53	6.22	6.48	6.16	5.94	6.53	7.02	7.29	8.41	8.56
Total Operating Expenses	35	38	40	38	29	34	34	35	33	30	33
Selling, General & Admin Expense	13	16	15	13	9.91	12	10	11	11	11	12
Marketing Expense	11	9.86	11	10	9.54	9.70	11	11	10	8.15	9.60
Research & Development Expense	6.48	8.87	9.71	9.98	6.07	8.32	9.77	8.96	8.24	7.37	7.57
Amortization Expense	-	-	-	-	-	3.66	3.60	-	-	3.29	3.32
Restructuring Charge	3.86	4.03	4.38	4.82	3.82	0.81	0.03	3.56	3.33	0.52	0.00
Total Other Income / (Expense), net	-0.28	-0.62	-1.11	-0.89	-0.51	-1.84	-1.30	-0.66	-1.39	-1.04	-0.81
Interest Expense	2.40	2.26	2.30	2.33	2.36	2.40	2.41	2.47	2.51	2.54	1.45
Other Income / (Expense), net	2.13	1.64	1.19	1.44	1.85	0.56	1.11	1.81	1.12	1.50	0.64
Income Tax Expense	-2.12	-1.74	-0.70	-0.38	-1.37	-0.30	0.92	0.75	1.45	1.63	3.20
Basic Earnings per Share	($0.03)	($0.13)	$0.01	$0.00	$0.19	($0.10)	$0.20	$0.05	$0.04	$0.06	$0.21
Weighted Average Basic Shares Outstanding	45.53M	46.29M	46.90M	47.02M	46.56M	45.20M	45.65M	45.89M	45.72M	45.70M	45.05M
Diluted Earnings per Share	($0.03)	($0.13)	$0.01	$0.00	$0.19	($0.10)	$0.20	$0.05	$0.04	$0.06	$0.20
Weighted Average Diluted Shares Outstanding	46.46M	46.29M	48.04M	48.31M	47.47M	45.20M	46.61M	46.85M	46.93M	47.16M	48.54M
Weighted Average Basic & Diluted Shares Outstanding	0.00	-	46.79M	46.20M	44.92M	45.24M	45.56M	45.65M	45.74M	45.32M	45.16M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Net Change in Cash & Equivalents	-5.01	6.26	3.36	-3.26	8.13	3.24	10	1.75	27	35	61
Net Cash From Operating Activities	6.11	7.85	10	5.63	14	24	37	21	32	32	55
Net Cash From Continuing Operating Activities	6.11	7.86	10	5.63	14	24	37	21	32	32	55
Net Income / (Loss) Continuing Operations	2.53	1.96	14	-12	-0.72	7.81	7.98	3.69	8.03	3.28	8.80
Consolidated Net Income / (Loss)	2.53	1.96	14	-12	-0.72	7.81	7.98	3.69	8.03	3.28	8.80
Depreciation Expense	0.43	0.80	0.32	0.62	1.39	1.50	1.44	1.40	1.73	1.76	1.32
Amortization Expense	1.00	2.25	2.20	4.36	6.89	6.50	13	24	25	22	24
Non-Cash Adjustments To Reconcile Net Income	3.37	4.08	5.48	8.95	7.88	2.86	13	11	-1.27	18	23
Changes in Operating Assets and Liabilities, net	-1.22	-1.22	-12	3.50	-1.18	5.45	2.10	-18	-2.23	-13	-1.73
Net Cash From Investing Activities	-11	-3.29	-7.78	-8.42	-11	-25	-170	1.70	-6.78	29	5.84
Net Cash From Continuing Investing Activities	-11	-3.29	-7.78	-8.42	-11	-25	-170	1.70	-6.78	29	5.84
Purchase of Property, Plant & Equipment	-0.07	-0.25	-0.49	-4.31	-1.06	-0.80	-1.39	-1.13	-1.03	-1.44	-1.16
Acquisitions	-5.42	0.00	0.00	-30	0.00	0.00	-13	-123	-0.27	0.00	0.00
Purchase of Investments	-27	-34	-40	-15	-24	-45	-247	-48	-72	-62	-41
Sale and/or Maturity of Investments	21	31	33	41	15	21	90	173	66	93	48
Net Cash From Financing Activities	0.23	1.73	0.69	-0.43	4.38	3.40	144	-21	1.70	-26	-1.85
Net Cash From Continuing Financing Activities	0.23	1.73	0.69	-0.43	4.38	3.40	144	-21	1.70	-26	-1.85
Repayment of Debt	-0.02	-0.02	0.00	-0.27	-0.30	-0.14	-5.60	-0.04	-0.04	-0.45	-0.50
Repurchase of Common Equity	-	-	-	0.00	0.00	-1.00	-0.19	-15	0.00	-24	-4.74
Issuance of Debt	-	-	0.00	0.00	0.13	0.22	156	0.00	0.00	1.50	1.69
Issuance of Common Equity	-	-	-	1.13	0.00	4.81	28	1.73	1.74	1.89	1.70
Other Financing Activities, net	0.25	1.76	0.69	-1.28	4.55	-0.48	-34	-7.66	0.00	-4.64	0.00
Effect of Exchange Rate Changes	-0.00	-0.05	-	-0.03	-	0.42	-0.21	0.07	0.35	-0.01	1.37
Cash Interest Paid	0.00	0.00	0.00	0.03	0.00	0.00	0.57	1.16	1.41	1.27	1.16
Cash Income Taxes Paid	0.11	0.02	0.11	0.40	0.31	-0.45	0.74	0.75	3.84	12	9.09

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-29	5.63	16	3.41	9.11	-2.84	14	22	27	21	-106
Net Cash From Operating Activities	3.47	-9.46	7.06	13	21	0.57	14	22	19	8.02	-0.95
Net Cash From Continuing Operating Activities	3.47	-9.46	7.06	13	21	0.57	14	22	19	8.02	-0.95
Net Income / (Loss) Continuing Operations	-1.44	-5.79	0.28	0.22	8.57	-4.61	9.15	2.40	1.86	2.77	9.54
Consolidated Net Income / (Loss)	-1.44	-5.79	0.28	0.22	8.57	-4.61	9.15	2.40	1.86	2.77	9.54
Depreciation Expense	0.54	0.39	0.45	0.54	0.38	0.40	0.34	0.43	0.14	0.35	0.43
Amortization Expense	5.42	5.18	6.76	5.77	5.33	5.44	5.78	6.64	5.70	5.93	4.81
Non-Cash Adjustments To Reconcile Net Income	-5.87	3.06	11	3.13	0.35	4.89	9.99	5.19	3.35	3.06	8.89
Changes in Operating Assets and Liabilities, net	4.82	-12	-12	3.33	6.47	-5.55	-12	6.92	8.42	-4.10	-25
Net Cash From Investing Activities	-32	18	9.50	0.45	0.91	0.84	-0.38	-0.65	6.02	24	6.74
Net Cash From Continuing Investing Activities	-32	18	9.50	0.45	0.91	0.84	-0.38	-0.65	6.02	24	6.74
Purchase of Property, Plant & Equipment	-0.38	-0.24	-0.48	-0.43	-0.28	-0.34	-0.23	-0.33	-0.26	-1.43	-1.55
Purchase of Investments	-48	-15	-12	-18	-17	-12	-9.60	-12	-6.42	0.00	-2.22
Sale and/or Maturity of Investments	16	33	22	19	18	14	9.45	12	13	26	11
Net Cash From Financing Activities	0.39	-3.11	0.10	-9.86	-13	-3.13	0.04	-0.00	1.25	-12	-111
Net Cash From Continuing Financing Activities	0.39	-3.11	0.10	-9.86	-13	-3.13	0.04	-0.00	1.25	-12	-111
Repayment of Debt	-	-0.04	-0.34	-0.04	-0.03	-0.05	-0.05	-0.27	-0.13	0.00	-155
Repurchase of Common Equity	-	0.00	-	-	-14	-3.26	-0.00	-0.00	-1.48	-10.00	-7.79
Issuance of Debt	-	0.71	0.25	0.22	0.32	0.00	-	-	1.69	0.44	50
Issuance of Common Equity	0.39	0.86	0.19	0.01	0.84	0.18	0.08	0.27	1.17	0.03	2.22
Other Financing Activities, net	-	-4.64	-	-	-	0.00	-	-	-	-1.98	-0.15
Cash Income Taxes Paid	1.78	7.84	0.67	3.43	0.05	0.69	4.26	2.11	2.02	0.08	4.27

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
Total Assets	39	48	72	127	136	169	420	364	405	414	459
Total Current Assets	31	40	51	38	54	84	204	138	190	185	248
Cash & Equivalents	2.75	9.01	12	9.03	17	20	30	32	59	93	154
Short-Term Investments	24	25	30	8.45	17	40	149	58	75	37	39
Accounts Receivable	3.94	4.95	7.10	17	15	16	17	36	32	32	37
Prepaid Expenses	-	-	0.91	2.28	1.49	1.34	1.92	1.95	3.51	4.51	3.05
Other Current Assets	0.80	1.49	0.30	1.05	4.46	7.16	6.17	9.66	21	19	16
Plant, Property, & Equipment, net	0.98	0.44	0.61	4.67	4.23	3.61	3.67	3.49	2.83	2.56	2.31
Total Noncurrent Assets	6.36	7.64	20	85	78	81	212	223	213	226	208
Long-Term Investments	-	1.95	3.78	0.00	1.55	1.96	48	11	1.30	11	3.46
Goodwill	2.87	2.86	3.01	34	33	36	63	116	124	132	133
Intangible Assets	3.40	2.78	2.30	33	24	19	29	76	65	54	40
Noncurrent Deferred & Refundable Income Taxes	-	0.00	11	15	17	13	11	10	12	19	25
Other Noncurrent Operating Assets	0.09	0.04	0.07	2.15	2.35	11	62	11	11	9.87	6.25
Total Liabilities & Shareholders' Equity	39	48	72	127	136	169	420	364	405	414	459
Total Liabilities	8.31	8.90	10	32	29	37	227	194	200	199	219
Total Current Liabilities	7.40	8.33	9.53	20	20	24	39	48	51	42	209
Short-Term Debt	-	-	0.00	1.85	1.04	0.75	11	5.92	7.98	0.00	152
Accounts Payable	1.54	1.32	1.92	3.57	3.56	3.91	2.51	4.97	7.59	7.24	3.87
Accrued Expenses	-	-	-	-	-	-	0.48	-	0.03	0.42	0.34
Current Deferred Revenue	3.52	3.39	3.31	4.79	5.61	7.97	10	21	17	21	29
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	0.21	4.33	-	2.68
Current Employee Benefit Liabilities	2.06	3.26	3.71	7.92	6.41	8.88	12	10	11	10	17
Other Current Liabilities	0.29	0.36	0.60	2.28	3.44	2.84	3.02	5.41	3.36	2.93	4.02
Total Noncurrent Liabilities	0.91	0.57	0.78	11	8.52	13	188	145	149	157	9.82
Long-Term Debt	-	-	-	-	-	0.00	121	128	136	144	0.00
Noncurrent Deferred Revenue	0.22	0.26	0.09	0.49	0.74	1.60	0.96	1.78	0.96	0.75	1.09
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	0.00	8.16	5.56	4.65	4.12	9.58	6.48	3.89	0.30
Other Noncurrent Operating Liabilities	0.69	0.31	0.69	2.70	2.23	6.31	62	5.72	5.74	8.56	8.44
Total Equity & Noncontrolling Interests	30	39	61	95	107	132	193	171	205	215	240
Total Preferred & Common Equity	30	39	61	95	107	132	193	171	205	215	240
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	30	39	61	95	107	132	193	171	205	215	240
Common Stock	64	71	79	117	132	147	200	217	229	247	266
Retained Earnings	-34	-32	-17	-21	-21	-14	-6.07	-17	-9.31	-30	-26
Accumulated Other Comprehensive Income / (Loss)	-0.00	-0.04	0.10	-0.59	-4.06	-0.32	-0.94	-28	-14	-2.30	0.59

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 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	12/31/2022	3/31/2023	6/30/2023	12/31/2023	3/31/2024	6/30/2024	12/31/2024	3/31/2025	6/30/2025	12/31/2025	3/31/2026
Total Assets	386	402	417	405	417	409	396	425	447	446	357
Total Current Assets	141	160	178	186	202	196	177	204	226	239	157
Cash & Equivalents	57	83	87	65	81	84	91	105	127	175	69
Short-Term Investments	45	27	41	59	43	39	31	31	40	15	8.40
Accounts Receivable	28	36	38	35	52	42	32	50	40	32	63
Prepaid Expenses	2.27	2.79	2.23	6.91	7.78	12	5.05	3.49	3.67	2.13	2.94
Other Current Assets	8.23	12	10	20	18	19	18	14	15	15	13
Plant, Property, & Equipment, net	3.37	3.15	3.01	2.70	2.71	2.60	2.42	2.33	2.26	3.37	4.50
Total Noncurrent Assets	242	239	236	217	213	211	217	219	219	204	196
Long-Term Investments	5.67	4.77	2.82	0.00	6.34	10	17	16	8.30	1.71	0.00
Goodwill	128	130	132	128	126	126	125	128	135	133	131
Intangible Assets	77	73	70	63	59	55	48	45	44	36	33
Noncurrent Deferred & Refundable Income Taxes	14	17	19	13	14	13	19	23	26	25	24
Other Noncurrent Operating Assets	17	13	13	13	7.61	6.09	8.26	6.23	5.54	7.43	7.39
Total Liabilities & Shareholders' Equity	386	402	417	405	417	409	396	425	447	446	357
Total Liabilities	194	199	210	192	201	200	195	205	209	213	117
Total Current Liabilities	42	45	54	40	47	44	39	196	199	203	60
Short-Term Debt	6.25	6.07	8.01	0.00	0.00	0.00	-	148	150	154	2.50
Accounts Payable	6.08	5.45	7.73	10	9.06	6.28	4.98	3.49	3.55	5.06	3.98
Accrued Expenses	1.23	1.49	1.23	-	-	-	0.51	0.37	0.43	0.25	0.63
Current Deferred Revenue	13	12	13	18	26	24	22	29	26	25	36
Current Deferred & Payable Income Tax Liabilities	5.34	8.87	10	0.05	0.19	0.13	-	-	-	-	3.00
Current Employee Benefit Liabilities	6.38	7.89	9.55	7.06	9.59	11	7.54	11	14	11	12
Other Current Liabilities	3.83	3.35	3.64	3.39	2.49	2.37	1.55	3.95	5.21	7.49	1.93
Total Noncurrent Liabilities	152	154	156	152	154	156	156	9.57	10	9.69	58
Long-Term Debt	130	132	134	137	139	142	146	0.00	0.00	-	48
Noncurrent Deferred Revenue	1.24	1.21	2.06	1.05	1.02	1.26	0.69	0.37	0.84	0.74	1.50
Noncurrent Deferred & Payable Income Tax Liabilities	15	16	16	6.76	6.69	6.70	3.64	2.72	2.89	0.30	0.29
Other Noncurrent Operating Liabilities	5.66	5.07	4.54	6.70	6.42	6.20	6.46	6.48	6.59	8.65	8.24
Total Equity & Noncontrolling Interests	191	203	208	214	216	210	201	220	238	234	239
Total Preferred & Common Equity	191	203	208	214	216	210	201	220	238	234	239
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	191	203	208	214	216	210	201	220	238	234	239
Common Stock	220	223	226	236	241	244	252	257	262	267	274
Retained Earnings	-13	-8.10	-8.53	-15	-15	-25	-38	-29	-27	-33	-32
Accumulated Other Comprehensive Income / (Loss)	-15	-12	-9.50	-7.59	-9.60	-9.87	-13	-7.95	2.34	0.47	-2.53

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	9/30/2015	9/30/2016	9/30/2017	9/30/2018	9/30/2019	9/30/2020	9/30/2021	9/30/2022	9/30/2023	9/30/2024	9/30/2025
DEI Shares Outstanding	0.00	32,727,452.00	33,585,994.00	37,796,791.00	40,177,044.00	41,288,229.00	44,024,072.00	-	-	-	45,647,049.00
DEI Adjusted Shares Outstanding	0.00	32,727,452.00	33,585,994.00	37,796,791.00	40,177,044.00	41,288,229.00	44,024,072.00	-	-	-	45,647,049.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.06	0.42	-0.31	-0.02	0.19	0.18	-	-	-	0.19
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	32.46%	36.80%	30.80%	40.03%	33.09%	19.77%	18.25%	20.87%	19.16%	-0.27%	4.42%
EBITDA Growth	177.32%	46.60%	13.68%	-166.08%	214.04%	305.94%	63.73%	29.15%	26.17%	-30.30%	42.81%
EBIT Growth	137.49%	-1.26%	61.95%	-375.65%	54.38%	335.93%	48.06%	-15.05%	63.97%	-56.97%	156.14%
NOPAT Growth	163.66%	-24.28%	574.30%	-144.40%	41.20%	329.22%	63.40%	3.97%	-3.44%	-87.07%	714.60%
Net Income Growth	147.73%	-22.45%	619.35%	-183.79%	93.87%	1,179.28%	2.10%	-53.70%	117.30%	-59.16%	168.33%
EPS Growth	147.06%	-25.00%	566.67%	-182.50%	93.94%	1,000.00%	0.00%	-55.56%	112.50%	-58.82%	171.43%
Operating Cash Flow Growth	347.27%	28.65%	32.99%	-46.14%	153.29%	69.28%	54.80%	-43.44%	49.56%	0.32%	74.64%
Free Cash Flow Firm Growth	28.51%	154.74%	-52.93%	-7,849.42%	104.26%	232.10%	-244.48%	-557.42%	102.25%	-157.78%	3,364.66%
Invested Capital Growth	273.57%	-2.63%	311.48%	429.66%	-7.77%	-3.47%	37.13%	109.61%	4.88%	1.30%	-9.53%
Revenue Q/Q Growth	10.08%	5.48%	7.67%	14.67%	4.94%	5.87%	2.25%	4.59%	-1.13%	3.34%	0.87%
EBITDA Q/Q Growth	90.88%	6.41%	10.37%	-77.29%	335.33%	8.26%	0.65%	9.51%	-10.57%	58.72%	-7.26%
EBIT Q/Q Growth	129.60%	0.61%	45.39%	-57.69%	60.94%	15.38%	-13.11%	-4.81%	-19.15%	451.14%	-14.94%
NOPAT Q/Q Growth	179.05%	-6.23%	554.09%	-65.84%	56.22%	34.46%	-12.74%	-7.00%	-17.25%	125.44%	-35.81%
Net Income Q/Q Growth	60.57%	0.27%	544.65%	-470.59%	88.20%	28.14%	-28.57%	-28.29%	-18.23%	148.67%	-43.28%
EPS Q/Q Growth	60.00%	0.00%	566.67%	-466.67%	86.67%	28.57%	-30.77%	-33.33%	-15.00%	146.67%	-44.12%
Operating Cash Flow Q/Q Growth	51.53%	8.99%	7.08%	-26.23%	55.87%	1.62%	17.56%	-25.47%	-4.92%	125.39%	-2.88%
Free Cash Flow Firm Q/Q Growth	39.16%	16.88%	-62.29%	8.01%	139.06%	-29.59%	31.44%	6.81%	-83.41%	78.19%	28.17%
Invested Capital Q/Q Growth	9.05%	-2.32%	366.69%	4.66%	-3.86%	4.57%	-5.09%	-6.01%	-2.23%	-0.73%	-7.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	90.26%	90.22%	91.10%	86.33%	85.50%	100.00%	87.86%	86.18%	86.70%	85.82%	85.09%
EBITDA Margin	13.47%	14.43%	12.54%	-5.92%	5.07%	17.19%	23.80%	25.43%	26.93%	18.82%	25.74%
Operating Margin	7.46%	5.26%	6.10%	-12.28%	-5.43%	8.75%	11.08%	8.43%	9.02%	1.30%	9.34%
EBIT Margin	7.82%	5.64%	6.99%	-13.75%	-4.71%	9.29%	11.63%	8.17%	11.25%	4.85%	11.90%
Profit (Net Income) Margin	9.96%	5.65%	31.05%	-18.58%	-0.86%	7.71%	6.66%	2.55%	4.65%	1.90%	4.90%
Tax Burden Percent	127.38%	100.05%	444.40%	135.08%	18.15%	83.05%	90.64%	102.55%	77.62%	-360.62%	75.77%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	63.18%	30.44%	53.29%	-10.89%	54.28%
Effective Tax Rate	-27.38%	-0.05%	-344.40%	0.00%	0.00%	16.95%	9.36%	-2.55%	22.38%	0.00%	24.23%
Return on Invested Capital (ROIC)	302.54%	49.20%	131.47%	-11.52%	-4.19%	10.19%	14.29%	8.30%	5.78%	0.72%	6.17%
ROIC Less NNEP Spread (ROIC-NNEP)	302.10%	48.77%	127.12%	8.94%	-14.27%	9.24%	19.47%	36.60%	-13.52%	32.11%	24.68%
Return on Net Nonoperating Assets (RNNOA)	-293.24%	-43.59%	-103.53%	-3.54%	3.48%	-3.66%	-9.38%	-6.27%	-1.51%	0.84%	-2.30%
Return on Equity (ROE)	9.29%	5.60%	27.93%	-15.06%	-0.71%	6.52%	4.91%	2.03%	4.27%	1.56%	3.87%
Cash Return on Invested Capital (CROIC)	-93.50%	51.87%	9.67%	-148.00%	3.90%	13.72%	-17.02%	-62.50%	1.02%	-0.57%	16.18%
Operating Return on Assets (OROA)	5.68%	4.49%	5.28%	-8.79%	-3.03%	6.17%	4.73%	3.02%	5.04%	2.04%	4.90%
Return on Assets (ROA)	7.23%	4.50%	23.47%	-11.87%	-0.55%	5.12%	2.71%	0.94%	2.09%	0.80%	2.02%
Return on Common Equity (ROCE)	9.29%	5.60%	27.92%	-15.06%	-0.71%	6.52%	4.91%	2.03%	4.27%	1.56%	3.87%
Return on Equity Simple (ROE_SIMPLE)	8.30%	4.96%	22.95%	-12.38%	-0.67%	5.91%	4.14%	2.16%	3.91%	1.53%	0.00%
Net Operating Profit after Tax (NOPAT)	2.41	1.82	12	-5.46	-3.21	7.36	12	13	12	1.56	13
NOPAT Margin	9.50%	5.26%	27.11%	-8.60%	-3.80%	7.27%	10.05%	8.64%	7.00%	0.91%	7.08%
Net Nonoperating Expense Percent (NNEP)	0.44%	0.43%	4.35%	-20.47%	10.08%	0.95%	-5.18%	-28.30%	19.30%	-31.39%	-18.51%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	4.10%	3.46%	0.44%	3.24%
Cost of Revenue to Revenue	9.74%	9.78%	8.90%	13.67%	14.50%	0.00%	12.14%	13.82%	13.30%	14.18%	14.91%
SG&A Expenses to Revenue	29.96%	24.71%	24.92%	26.85%	23.48%	22.00%	18.77%	18.36%	25.12%	30.80%	24.67%
R&D to Revenue	21.99%	22.46%	22.98%	28.51%	25.86%	22.56%	23.41%	20.85%	16.80%	20.13%	19.64%
Operating Expenses to Revenue	82.80%	84.96%	85.00%	98.61%	90.93%	91.25%	76.78%	77.76%	77.68%	84.53%	75.75%
Earnings before Interest and Taxes (EBIT)	1.98	1.96	3.17	-8.74	-3.99	9.41	14	12	19	8.35	21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3.42	5.01	5.69	-3.76	4.29	17	29	37	46	32	46
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.22	6.87	5.20	2.79	3.61	3.98	4.22	2.38	2.38	1.86	1.86
Price to Tangible Book Value (P/TBV)	4.06	8.02	5.69	9.50	7.71	6.81	8.06	0.00	28.81	13.77	6.66
Price to Revenue (P/Rev)	3.86	7.82	7.03	4.19	4.58	5.19	6.80	2.81	2.83	2.33	2.48
Price to Earnings (P/E)	38.81	138.49	22.64	0.00	0.00	67.32	102.09	109.97	60.88	122.20	50.70
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	2.58%	0.72%	4.42%	0.00%	0.00%	1.49%	0.98%	0.91%	1.64%	0.82%	1.97%
Enterprise Value to Invested Capital (EV/IC)	18.98	64.34	18.11	3.14	4.81	6.55	7.38	2.15	2.32	1.86	2.05
Enterprise Value to Revenue (EV/Rev)	2.81	6.79	6.01	3.95	4.18	4.59	6.00	3.03	2.88	2.34	2.24
Enterprise Value to EBITDA (EV/EBITDA)	20.89	47.02	47.90	0.00	82.50	26.69	25.22	11.93	10.70	12.43	8.69
Enterprise Value to EBIT (EV/EBIT)	35.98	120.27	86.00	0.00	0.00	49.40	51.61	37.11	25.63	48.20	18.78
Enterprise Value to NOPAT (EV/NOPAT)	29.61	129.04	22.16	0.00	0.00	63.11	59.75	35.10	41.16	257.69	31.58
Enterprise Value to Operating Cash Flow (EV/OCF)	11.69	29.98	26.11	44.59	24.84	19.27	19.25	20.79	15.74	12.70	7.26
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	122.40	301.18	0.00	118.49	46.85	0.00	0.00	234.10	0.00	12.04
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.02	0.01	0.01	0.68	0.78	0.70	0.67	0.63
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.63	0.75	0.66	0.67	0.00
Financial Leverage	-0.97	-0.89	-0.81	-0.40	-0.24	-0.40	-0.48	-0.17	0.11	0.03	-0.09
Leverage Ratio	1.28	1.25	1.19	1.27	1.30	1.27	1.81	2.16	2.05	1.95	1.92
Compound Leverage Factor	1.28	1.25	1.19	1.27	1.30	1.27	1.14	0.66	1.09	-0.21	1.04
Debt to Total Capital	0.00%	0.00%	0.00%	1.90%	0.96%	0.57%	40.63%	43.92%	41.15%	40.07%	38.78%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	1.90%	0.96%	0.57%	3.40%	1.94%	2.29%	0.00%	38.78%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	37.23%	41.98%	38.87%	40.07%	0.00%
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	100.00%	100.00%	99.92%	98.10%	99.04%	99.43%	59.37%	56.08%	58.85%	59.93%	61.22%
Debt to EBITDA	0.00	0.00	0.00	-0.49	0.24	0.04	4.63	3.64	3.09	4.43	3.29
Net Debt to EBITDA	0.00	0.00	0.00	4.15	-7.87	-3.52	-3.35	0.89	0.18	0.06	-0.96
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	4.24	3.48	2.92	4.43	0.00
Debt to NOPAT	0.00	0.00	0.00	-0.34	-0.32	0.10	10.97	10.70	11.88	91.95	11.97
Net Debt to NOPAT	0.00	0.00	0.00	2.86	10.51	-8.31	-7.93	2.63	0.71	1.19	-3.48
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	10.05	10.23	11.22	91.95	0.00
Altman Z-Score	7.43	19.02	19.70	5.24	8.76	9.64	3.00	1.99	2.43	2.00	1.79
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.05%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.24	4.84	5.34	1.84	2.70	3.45	5.20	2.84	3.69	4.39	1.19
Quick Ratio	4.13	4.66	5.21	1.68	2.40	3.11	5.00	2.61	3.22	3.84	1.10
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3.51	1.92	0.91	-70	2.99	9.92	-14	-94	2.12	-1.23	33
Operating Cash Flow to CapEx	8,363.01%	3,141.60%	2,140.37%	130.62%	1,340.55%	3,003.99%	2,692.21%	1,875.58%	3,054.74%	2,203.62%	4,791.34%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-2.79	-11.45	0.23	-0.13	3.41
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	7.28	2.57	3.49	3.42	5.66
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	7.01	2.43	3.37	3.27	5.54
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.73	0.80	0.76	0.64	0.64	0.66	0.41	0.37	0.45	0.42	0.41
Accounts Receivable Turnover	7.36	7.81	7.53	5.31	5.33	6.63	7.44	5.51	5.07	5.39	5.25
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	22.37	49.05	86.21	24.08	19.02	25.84	32.91	40.43	54.59	63.82	73.67
Accounts Payable Turnover	1.48	2.38	2.50	3.16	3.44	0.00	4.53	5.35	3.65	3.29	4.82
Days Sales Outstanding (DSO)	49.59	46.73	48.44	68.68	68.52	55.03	49.08	66.20	71.98	67.68	69.56
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)	245.96	153.53	146.14	115.37	106.05	0.00	80.53	68.24	99.90	110.91	75.69
Cash Conversion Cycle (CCC)	-196.38	-106.79	-97.70	-46.69	-37.54	55.03	-31.46	-2.04	-27.92	-43.23	-6.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3.76	3.66	15	80	74	71	97	204	214	217	196
Invested Capital Turnover	31.84	9.35	4.85	1.34	1.10	1.40	1.42	0.96	0.83	0.80	0.87
Increase / (Decrease) in Invested Capital	5.92	-0.10	11	65	-6.20	-2.56	26	107	9.96	2.79	-21
Enterprise Value (EV)	71	235	273	251	354	465	719	439	497	402	402
Market Capitalization	98	271	319	266	388	526	814	406	489	401	446
Book Value per Share	$0.99	$1.21	$1.83	$2.52	$2.67	$3.20	$4.38	$3.86	$4.50	$4.65	$5.26
Tangible Book Value per Share	$0.78	$1.03	$1.67	$0.74	$1.25	$1.87	$2.29	($0.46)	$0.37	$0.63	$1.47
Total Capital	30	39	61	97	108	133	325	305	349	358	392
Total Debt	0.00	0.00	0.00	1.85	1.04	0.75	132	134	143	144	152
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	121	128	136	144	0.00
Net Debt	-27	-36	-46	-16	-34	-61	-95	33	8.58	1.85	-44
Capital Expenditures (CapEx)	0.07	0.25	0.49	4.31	1.06	0.80	1.39	1.13	1.03	1.44	1.16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2.67	-1.89	-1.23	1.59	1.87	0.50	-3.47	4.99	13	13	-1.34
Debt-free Net Working Capital (DFNWC)	24	32	41	19	35	61	176	95	146	143	192
Net Working Capital (NWC)	24	32	41	17	34	60	165	89	139	143	39
Net Nonoperating Expense (NNE)	-0.12	-0.13	-1.79	6.34	-2.49	-0.45	4.06	8.82	4.05	-1.72	3.93
Net Nonoperating Obligations (NNO)	-27	-36	-46	-16	-34	-61	-95	33	8.88	2.06	-44
Total Depreciation and Amortization (D&A)	1.43	3.05	2.52	4.98	8.28	8.01	15	25	27	24	25
Debt-free, Cash-free Net Working Capital to Revenue	-10.52%	-5.46%	-2.70%	2.51%	2.21%	0.50%	-2.90%	3.45%	7.46%	7.30%	-0.74%
Debt-free Net Working Capital to Revenue	94.63%	92.16%	91.08%	30.00%	41.52%	59.74%	146.83%	65.82%	84.90%	83.04%	106.67%
Net Working Capital to Revenue	94.63%	92.16%	91.08%	27.09%	40.29%	59.00%	137.61%	61.74%	80.27%	83.04%	21.96%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.08	$0.06	$0.43	($0.33)	($0.02)	$0.19	$0.18	$0.00	$0.18	$0.07	$0.19
Adjusted Weighted Average Basic Shares Outstanding	30.79M	31.59M	33.08M	35.81M	78.68M	41.41M	43.51M	0.00	45.53M	46.56M	45.72M
Adjusted Diluted Earnings per Share	$0.08	$0.06	$0.40	($0.33)	($0.02)	$0.18	$0.18	$0.00	$0.17	$0.07	$0.19
Adjusted Weighted Average Diluted Shares Outstanding	31.48M	33.82M	35.54M	35.81M	78.68M	42.53M	45.08M	0.00	46.46M	47.47M	46.93M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($0.02)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	31.86M	33.08M	34.77M	38.56M	39.34M	42.52M	44.62M	0.00	0.00	44.92M	45.74M
Normalized Net Operating Profit after Tax (NOPAT)	2.28	2.80	3.59	0.30	4.23	7.27	12	20	29	13	24
Normalized NOPAT Margin	9.00%	8.07%	7.90%	0.48%	5.00%	7.18%	10.05%	14.10%	16.52%	7.84%	13.40%
Pre Tax Income Margin	7.82%	5.64%	6.99%	-13.75%	-4.71%	9.29%	7.35%	2.49%	5.99%	-0.53%	6.46%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	2.72	1.44	2.14	0.90	2.19
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	2.35	1.52	1.33	0.17	1.30
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	2.45	1.30	2.03	0.75	2.07
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	2.08	1.38	1.22	0.01	1.18
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	0.00%	0.00%	0.00%	0.00%	0.00%	12.82%	2.38%	410.83%	0.00%	737.64%	53.87%

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	45,243,715.00	45,564,205.00	45,647,049.00	45,742,350.00	45,316,289.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	45,243,715.00	45,564,205.00	45,647,049.00	45,742,350.00	45,316,289.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	0.20	0.05	0.04	0.06	0.21
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.97%	-19.22%	1.83%	4.43%	14.78%	0.91%	10.56%	1.67%	3.60%	18.76%	5.61%
EBITDA Growth	-58.59%	-98.07%	-45.28%	-11.99%	217.97%	1,018.18%	123.07%	49.53%	-23.70%	298.01%	4.46%
EBIT Growth	-133.85%	-160.56%	-79.34%	-20.13%	923.24%	52.39%	560.75%	158.71%	-39.26%	376.38%	13.72%
NOPAT Growth	-329.52%	-180.40%	-92.41%	123.78%	499.13%	55.55%	2,014.41%	464.78%	-71.26%	259.34%	-1.80%
Net Income Growth	-511.43%	-222.58%	-94.54%	150.47%	695.35%	20.39%	3,145.39%	1,009.26%	-78.30%	160.10%	4.20%
EPS Growth	0.00%	-230.00%	-90.91%	100.00%	733.33%	23.08%	1,900.00%	0.00%	-78.95%	160.00%	0.00%
Operating Cash Flow Growth	-31.98%	-279.90%	12.11%	-21.55%	507.60%	105.97%	94.55%	66.12%	-7.78%	1,319.12%	-106.88%
Free Cash Flow Firm Growth	88.41%	88.61%	-77.38%	125.95%	152.17%	231.01%	1,381.35%	789.24%	252.93%	-1.39%	-31.28%
Invested Capital Growth	4.88%	3.55%	-0.39%	-0.23%	1.30%	-8.21%	-4.40%	-2.85%	-9.53%	-6.17%	-1.75%
Revenue Q/Q Growth	-12.57%	-1.96%	27.23%	-4.24%	-3.90%	-13.81%	39.39%	-11.94%	-2.08%	-1.19%	23.95%
EBITDA Q/Q Growth	-50.18%	-93.82%	2,060.56%	-6.76%	80.02%	-78.25%	459.92%	-31.79%	-8.14%	13.46%	46.95%
EBIT Q/Q Growth	-142.77%	-353.87%	135.80%	14.94%	340.83%	-126.25%	596.81%	-55.00%	3.49%	19.45%	104.41%
NOPAT Q/Q Growth	-6.50%	-110.40%	110.09%	5.16%	1,687.40%	-123.43%	580.11%	-71.91%	-9.04%	29.90%	195.87%
Net Income Q/Q Growth	-236.45%	-302.29%	104.87%	-23.40%	3,868.98%	-153.80%	298.44%	-73.82%	-22.37%	49.03%	244.01%
EPS Q/Q Growth	-200.00%	-333.33%	107.69%	-100.00%	0.00%	-152.63%	300.00%	-75.00%	-20.00%	50.00%	233.33%
Operating Cash Flow Q/Q Growth	-79.02%	-372.47%	174.65%	83.82%	62.51%	-97.32%	2,332.39%	56.96%	-9.78%	-58.80%	-111.79%
Free Cash Flow Firm Q/Q Growth	-210.13%	-3.20%	110.81%	-24.99%	523.38%	159.17%	22.24%	-54.97%	155.35%	-29.84%	-14.81%
Invested Capital Q/Q Growth	-2.23%	6.49%	-1.05%	-3.17%	-0.73%	-3.51%	3.06%	-1.59%	-7.64%	0.17%	7.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	83.34%	85.01%	86.77%	85.59%	85.74%	84.04%	87.42%	84.64%	83.72%	81.00%	84.39%
EBITDA Margin	12.75%	0.80%	19.37%	18.86%	35.33%	8.91%	35.81%	27.74%	26.02%	29.88%	35.42%
Operating Margin	-8.73%	-18.73%	1.49%	1.63%	17.85%	-8.25%	21.89%	8.33%	10.47%	12.30%	24.71%
EBIT Margin	-3.09%	-14.29%	4.02%	4.82%	22.13%	-6.74%	24.02%	12.28%	12.97%	15.69%	25.87%
Profit (Net Income) Margin	-3.82%	-15.69%	0.60%	0.48%	19.83%	-12.38%	17.62%	5.24%	4.15%	6.27%	17.39%
Tax Burden Percent	40.42%	76.86%	-67.95%	-135.85%	119.04%	93.95%	90.90%	76.18%	56.28%	63.03%	74.87%
Interest Burden Percent	306.63%	142.91%	-21.98%	-7.33%	75.29%	195.50%	80.71%	56.02%	56.88%	63.37%	89.78%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	-19.04%	0.00%	9.10%	23.82%	43.72%	36.97%	25.13%
Return on Invested Capital (ROIC)	-5.04%	-9.58%	0.76%	0.87%	16.97%	-4.56%	16.00%	5.25%	5.13%	7.13%	16.41%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.94%	-14.00%	-0.50%	-2.09%	5.80%	-26.42%	-32.30%	11.36%	8.81%	11.66%	20.19%
Return on Net Nonoperating Assets (RNNOA)	-0.11%	-1.49%	-0.04%	-0.10%	0.15%	-1.43%	-0.36%	-0.42%	-0.82%	-0.78%	-1.41%
Return on Equity (ROE)	-5.15%	-11.08%	0.72%	0.77%	17.12%	-5.99%	15.63%	4.83%	4.31%	6.36%	14.99%
Cash Return on Invested Capital (CROIC)	1.02%	-3.40%	-2.00%	-2.57%	-0.57%	15.77%	12.79%	12.09%	16.18%	16.02%	10.80%
Operating Return on Assets (OROA)	-1.38%	-5.92%	1.62%	1.94%	9.30%	-2.90%	10.12%	5.11%	5.34%	6.95%	12.54%
Return on Assets (ROA)	-1.71%	-6.50%	0.24%	0.19%	8.33%	-5.33%	7.42%	2.18%	1.71%	2.78%	8.43%
Return on Common Equity (ROCE)	-5.15%	-11.08%	0.72%	0.77%	17.12%	-5.99%	15.63%	4.83%	4.31%	6.36%	14.99%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-1.17%	-3.41%	-3.21%	0.00%	2.22%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-2.30	-4.84	0.49	0.51	9.18	-2.15	10	2.90	2.64	3.43	10
NOPAT Margin	-6.11%	-13.11%	1.04%	1.14%	21.25%	-5.78%	19.89%	6.35%	5.89%	7.75%	18.50%
Net Nonoperating Expense Percent (NNEP)	-4.10%	4.41%	1.26%	2.96%	11.17%	21.87%	48.30%	-6.11%	-3.68%	-4.53%	-3.79%
Return On Investment Capital (ROIC_SIMPLE)	-0.66%	-1.38%	-	-	2.56%	-0.62%	2.81%	0.75%	0.67%	0.88%	3.50%
Cost of Revenue to Revenue	16.66%	14.99%	13.23%	14.41%	14.26%	15.96%	12.58%	15.36%	16.28%	19.00%	15.61%
SG&A Expenses to Revenue	35.09%	42.09%	31.82%	28.02%	22.92%	31.95%	19.45%	24.60%	24.75%	25.03%	22.33%
R&D to Revenue	17.22%	24.04%	20.68%	22.19%	14.05%	22.34%	18.81%	19.59%	18.39%	16.67%	13.80%
Operating Expenses to Revenue	92.07%	103.74%	85.28%	83.96%	67.89%	92.30%	65.54%	76.31%	73.25%	68.70%	59.69%
Earnings before Interest and Taxes (EBIT)	-1.16	-5.27	1.89	2.17	9.57	-2.51	12	5.61	5.81	6.94	14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	4.80	0.30	9.10	8.48	15	3.32	19	13	12	13	19
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.38	2.78	3.05	2.50	1.86	2.49	1.70	1.90	1.86	2.07	2.55
Price to Tangible Book Value (P/TBV)	28.81	25.89	21.35	18.55	13.77	17.60	7.94	7.63	6.66	7.57	8.12
Price to Revenue (P/Rev)	2.83	3.63	4.01	3.14	2.33	2.90	2.10	2.53	2.48	2.59	3.23
Price to Earnings (P/E)	60.88	0.00	0.00	0.00	122.20	112.12	28.00	29.09	50.70	29.83	36.93
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	1.64%	0.00%	0.00%	0.00%	0.82%	0.89%	3.57%	3.44%	1.97%	3.35%	2.71%
Enterprise Value to Invested Capital (EV/IC)	2.32	2.67	2.97	2.43	1.86	2.43	1.71	2.01	2.05	2.27	2.76
Enterprise Value to Revenue (EV/Rev)	2.88	3.71	4.06	3.19	2.34	2.94	2.08	2.39	2.24	2.39	3.08
Enterprise Value to EBITDA (EV/EBITDA)	10.70	19.39	31.03	26.05	12.43	14.34	8.07	8.54	8.69	7.93	10.25
Enterprise Value to EBIT (EV/EBIT)	25.63	112.17	0.00	0.00	48.20	45.69	16.99	16.93	18.78	14.44	17.95
Enterprise Value to NOPAT (EV/NOPAT)	41.16	3,158.77	0.00	0.00	257.69	32.23	20.16	21.48	31.58	22.75	30.26
Enterprise Value to Operating Cash Flow (EV/OCF)	15.74	36.06	37.95	37.80	12.70	12.17	7.62	7.47	7.26	7.09	12.14
Enterprise Value to Free Cash Flow (EV/FCFF)	234.10	0.00	0.00	0.00	0.00	14.73	13.07	16.35	12.04	13.71	25.31
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	0.64	0.65	0.68	0.67	0.73	0.67	0.63	0.63	0.66	0.21
Long-Term Debt to Equity	0.66	0.64	0.65	0.68	0.67	0.73	0.00	0.00	0.00	0.00	0.20
Financial Leverage	0.11	0.11	0.08	0.05	0.03	0.05	0.01	-0.04	-0.09	-0.07	-0.07
Leverage Ratio	2.05	1.95	1.95	1.98	1.95	1.93	1.93	1.91	1.92	1.94	1.70
Compound Leverage Factor	6.28	2.79	-0.43	-0.15	1.47	3.78	1.56	1.07	1.09	1.23	1.53
Debt to Total Capital	41.15%	39.14%	39.22%	40.30%	40.07%	42.04%	40.17%	38.70%	38.78%	39.80%	17.27%
Short-Term Debt to Total Capital	2.29%	0.00%	0.00%	0.00%	0.00%	0.00%	40.17%	38.70%	38.78%	39.80%	0.86%
Long-Term Debt to Total Capital	38.87%	39.14%	39.22%	40.30%	40.07%	42.04%	0.00%	0.00%	0.00%	0.00%	16.41%
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	58.85%	60.86%	60.78%	59.70%	59.93%	57.96%	59.83%	61.30%	61.22%	60.20%	82.73%
Debt to EBITDA	3.09	4.38	6.47	6.94	4.43	4.12	3.24	3.01	3.29	2.75	0.88
Net Debt to EBITDA	0.18	0.43	0.43	0.41	0.06	0.22	-0.10	-0.51	-0.96	-0.66	-0.48
Long-Term Debt to EBITDA	2.92	4.38	6.47	6.94	4.43	4.12	0.00	0.00	0.00	0.00	0.83
Debt to NOPAT	11.88	714.21	-25.84	-23.05	91.95	9.25	8.08	7.57	11.97	7.89	2.59
Net Debt to NOPAT	0.71	70.52	-1.71	-1.35	1.19	0.50	-0.25	-1.28	-3.48	-1.91	-1.43
Long-Term Debt to NOPAT	11.22	714.21	-25.84	-23.05	91.95	9.25	0.00	0.00	0.00	0.00	2.46
Altman Z-Score	2.26	2.60	2.77	2.36	2.01	2.24	1.53	1.72	1.68	1.82	3.99
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	3.69	4.70	4.27	4.46	4.39	4.59	1.04	1.14	1.19	1.18	2.61
Quick Ratio	3.22	4.02	3.72	3.75	3.84	3.98	0.95	1.04	1.10	1.09	2.35
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-12	-13	1.37	1.03	6.39	17	20	9.12	23	16	14
Operating Cash Flow to CapEx	918.78%	-3,926.56%	1,462.53%	3,012.76%	7,456.54%	168.66%	5,923.71%	6,556.54%	7,513.90%	562.27%	-60.89%
Free Cash Flow to Firm to Interest Expense	-5.11	-5.59	0.59	0.44	2.71	6.91	8.42	3.69	9.30	6.43	9.60
Operating Cash Flow to Interest Expense	1.45	-4.18	3.07	5.58	8.93	0.24	5.71	8.74	7.77	3.15	-0.65
Operating Cash Flow Less CapEx to Interest Expense	1.29	-4.29	2.86	5.39	8.81	0.10	5.61	8.60	7.67	2.59	-1.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.45	0.41	0.40	0.40	0.42	0.43	0.42	0.42	0.41	0.44	0.48
Accounts Receivable Turnover	5.07	5.16	3.74	4.20	5.39	5.10	3.48	4.35	5.25	5.81	3.35
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	54.59	54.03	56.18	59.40	63.82	67.44	70.49	73.31	73.67	64.48	55.56
Accounts Payable Turnover	3.65	2.88	3.27	3.50	3.29	3.27	4.01	5.22	4.82	5.83	8.38
Days Sales Outstanding (DSO)	71.98	70.80	97.59	86.83	67.68	71.57	104.85	83.82	69.56	62.84	108.92
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)	99.90	126.64	111.57	104.33	110.91	111.48	91.13	69.90	75.69	62.64	43.55
Cash Conversion Cycle (CCC)	-27.92	-55.85	-13.98	-17.50	-43.23	-39.91	13.72	13.92	-6.13	0.20	65.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	214	228	226	218	217	209	216	212	196	196	212
Invested Capital Turnover	0.83	0.73	0.73	0.76	0.80	0.79	0.80	0.83	0.87	0.92	0.89
Increase / (Decrease) in Invested Capital	9.96	7.81	-0.88	-0.51	2.79	-19	-9.93	-6.22	-21	-13	-3.78
Enterprise Value (EV)	497	608	669	531	402	508	369	426	402	445	584
Market Capitalization	489	594	660	523	401	500	373	451	446	483	612
Book Value per Share	$4.50	$4.69	$4.62	$4.48	$4.65	$4.47	$4.87	$5.21	$5.26	$5.11	$5.28
Tangible Book Value per Share	$0.37	$0.50	$0.66	$0.60	$0.63	$0.63	$1.04	$1.30	$1.47	$1.39	$1.66
Total Capital	349	351	356	351	358	347	368	388	392	388	289
Total Debt	143	137	139	142	144	146	148	150	152	154	50
Total Long-Term Debt	136	137	139	142	144	146	0.00	0.00	0.00	0.00	48
Net Debt	8.58	14	9.23	8.31	1.85	7.83	-4.56	-25	-44	-37	-28
Capital Expenditures (CapEx)	0.38	0.24	0.48	0.43	0.28	0.34	0.23	0.33	0.26	1.43	1.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)	13	22	30	29	13	17	20	9.99	-1.34	0.38	21
Debt-free Net Working Capital (DFNWC)	146	146	154	152	143	138	156	177	192	190	99
Net Working Capital (NWC)	139	146	154	152	143	138	8.35	27	39	36	97
Net Nonoperating Expense (NNE)	-0.86	0.95	0.21	0.30	0.61	2.46	1.18	0.51	0.78	0.66	0.61
Net Nonoperating Obligations (NNO)	8.88	14	9.44	8.81	2.06	8.33	-4.56	-25	-44	-37	-28
Total Depreciation and Amortization (D&A)	5.96	5.57	7.21	6.31	5.70	5.83	6.12	7.07	5.84	6.28	5.24
Debt-free, Cash-free Net Working Capital to Revenue	7.46%	13.71%	18.48%	17.24%	7.30%	9.91%	11.28%	5.61%	-0.74%	0.20%	11.33%
Debt-free Net Working Capital to Revenue	84.90%	89.37%	93.77%	91.15%	83.04%	80.21%	88.05%	99.40%	106.67%	102.02%	52.25%
Net Working Capital to Revenue	80.27%	89.37%	93.77%	91.15%	83.04%	80.21%	4.71%	15.19%	21.96%	19.28%	50.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.03)	($0.13)	$0.01	$0.00	$0.19	($0.10)	$0.20	$0.05	$0.04	$0.06	$0.21
Adjusted Weighted Average Basic Shares Outstanding	45.53M	46.29M	46.90M	47.02M	46.56M	45.20M	45.65M	45.89M	45.72M	45.70M	45.05M
Adjusted Diluted Earnings per Share	($0.03)	($0.13)	$0.01	$0.00	$0.19	($0.10)	$0.20	$0.05	$0.04	$0.06	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	46.46M	46.29M	48.04M	48.31M	47.47M	45.20M	46.61M	46.85M	46.93M	47.16M	48.54M
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	0.00	0.00	46.79M	46.20M	44.92M	45.24M	45.56M	45.65M	45.74M	45.32M	45.16M
Normalized Net Operating Profit after Tax (NOPAT)	0.40	-2.02	3.55	3.89	8.08	0.97	10	5.61	4.51	3.75	10
Normalized NOPAT Margin	1.06%	-5.47%	7.57%	8.64%	18.69%	2.61%	19.95%	12.28%	10.08%	8.48%	18.50%
Pre Tax Income Margin	-9.46%	-20.42%	-0.88%	-0.35%	16.66%	-13.18%	19.39%	6.88%	7.38%	9.94%	23.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.48	-2.33	0.82	0.93	4.05	-1.05	5.18	2.27	2.32	2.73	9.78
NOPAT to Interest Expense	-0.96	-2.14	0.21	0.22	3.88	-0.90	4.29	1.18	1.05	1.35	7.00
EBIT Less CapEx to Interest Expense	-0.64	-2.44	0.61	0.75	3.93	-1.19	5.09	2.14	2.22	2.17	8.71
NOPAT Less CapEx to Interest Expense	-1.12	-2.25	0.00	0.04	3.77	-1.04	4.20	1.04	0.95	0.79	5.93
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	0.00%	0.00%	0.00%	-149.07%	737.64%	615.32%	205.85%	112.19%	53.87%	70.93%	116.33%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Mitek Systems (MITK) based on the quarterly statements provided for the last several years. The trend shows a growing top line and solid margins, but with notable volatility in cash flow and financing activity.

Revenue growth: From around 36.9 million in 2024 Q1, the company’s quarterly operating revenue has trended higher, reaching about 54.8 million in 2026 Q2, indicating a multi-year top‑line uptrend.
Strong gross margins: Total gross profit has generally run well above half of revenue, with gross margins in the roughly 80%+ range (for example, 46.28 million gross profit on 54.84 million revenue in 2026 Q2, about 84% gross margin).
Net income recently positive and stable: Net income attributable to common shareholders and continuing operations has been positive in many recent quarters, including about 9.5 million in 2026 Q2 and 9.15 million in 2025 Q2, signaling a profitable trend amid ongoing operations.
Positive operating cash flow in several quarters: Net cash from continuing operating activities has appeared positive in multiple periods (e.g., around 13.7 million in 2025 Q2 and 8.0 million in 2026 Q1), reflecting underlying cash generation from core operations.
Rising equity base: Total equity expanded to roughly 239.5 million by 2026 Q2, up from around 216.1 million in earlier periods, suggesting a stronger balance sheet base over time.
Good liquidity in several periods: On a relative basis, total current assets have exceeded total current liabilities in several quarters (example: about 156.5 million vs 59.9 million in 2026 Q2), implying a solid short-term liquidity cushion.
Modest capex profile: Purchases of property, plant and equipment have been relatively modest (in the low single-digit millions per quarter), indicating maintenance capex rather than aggressive expansion.
Cash balance fluctuates meaningfully: Cash and cash equivalents have swung (e.g., 175.1 million in 2026 Q1 down to 69.2 million in 2026 Q2), suggesting liquidity can vary quarter to quarter and may reflect timing of financing and investing activities.
Heavy goodwill and intangible assets: Goodwill and intangible assets remain a large share of noncurrent assets (several quarters show goodwill well over 100 million and substantial intangible assets), which can warrant impairment risk discussions in a longer downturn scenario.
Significant financing outflows in 2026 Q2: Net change in cash and equivalents was notably negative (-105.9 million), and net cash from financing activities was also very negative (-111.1 million) due to substantial debt repayments, even as new debt and minor equity issuances occurred. This highlights major financing outflows and raises liquidity and leverage considerations. Retained earnings have also remained negative across periods (e.g., around -33.4 million by 2026 Q2), indicating cumulative losses despite positive quarterly profits.

Bottom line: MITK shows a positive trajectory in revenue, margins, and recent profitability, with a strengthening equity base and constructive liquidity in several periods. However, the latest quarter reveals substantial financing outflows and notable negative cash movement, plus a large buildup of goodwill/intangible assets and negative retained earnings on a cumulative basis. Retail investors may view the company as having improving earnings power and strong margins, but should watch the cash-flow dynamics and debt management as part of the longer-term risk assessment.

05/28/26 05:39 AM ETAI Generated. May Contain Errors.

Mitek Systems Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Mitek Systems' fiscal year ends in September. Their fiscal year 2025 ended on September 30, 2025.

Mitek Systems' net income appears to be on an upward trend, with a most recent value of $8.80 million in 2025, rising from $2.53 million in 2015. The previous period was $3.28 million in 2024. Check out Mitek Systems' forecast to explore projected trends and price targets.

Mitek Systems' total operating income in 2025 was $16.79 million, based on the following breakdown:

Total Gross Profit: $152.90 million
Total Operating Expenses: $136.11 million

Over the last 10 years, Mitek Systems' total revenue changed from $25.37 million in 2015 to $179.69 million in 2025, a change of 608.4%.

Mitek Systems' total liabilities were at $218.85 million at the end of 2025, a 10.0% increase from 2024, and a 2,532.6% increase since 2015.

In the past 10 years, Mitek Systems' cash and equivalents has ranged from $2.75 million in 2015 to $154.15 million in 2025, and is currently $154.15 million as of their latest financial filing in 2025.

Over the last 10 years, Mitek Systems' book value per share changed from 0.99 in 2015 to 5.26 in 2025, a change of 432.5%.

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Financial statements for NASDAQ:MITK last updated on 5/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Mitek Systems (MITK) Financials

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Mitek Systems (MITK) Financials

Annual Income Statements for Mitek Systems

Quarterly Income Statements for Mitek Systems

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Quarterly Cash Flow Statements for Mitek Systems

Annual Balance Sheets for Mitek Systems

Quarterly Balance Sheets for Mitek Systems

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Quarterly Metrics And Ratios for Mitek Systems

Financials Breakdown Chart

Key Financial Trends

Mitek Systems Financials - Frequently Asked Questions

When does Mitek Systems' financial year end?

How has Mitek Systems' net income changed over the last 10 years?

What is Mitek Systems' operating income?

How has Mitek Systems' revenue changed over the last 10 years?

How much debt does Mitek Systems have?

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How has Mitek Systems' book value per share changed over the last 10 years?

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