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Mitek Systems (MITK) Financials

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$18.18 -0.35 (-1.89%)
Closing price 04:00 PM Eastern
Extended Trading
$18.28 +0.11 (+0.58%)
As of 07:30 PM Eastern
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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 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

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 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -5.79 0.28 0.22 8.57 -4.61 9.15 2.40 1.86 2.77 9.54 8.37
Consolidated Net Income / (Loss)		 -5.79 0.28 0.22 8.57 -4.61 9.15 2.40 1.86 2.77 9.54 8.37
Net Income / (Loss) Continuing Operations		 -5.79 0.28 0.22 8.57 -4.61 9.15 2.40 1.86 2.77 9.54 8.37
Total Pre-Tax Income 		-7.54 -0.42 -0.16 7.20 -4.91 10 3.15 3.31 4.40 13 11
Total Operating Income		 -6.92 0.70 0.73 7.72 -3.07 11 3.81 4.69 5.44 14 12
Total Gross Profit		 31 41 38 37 31 45 39 37 36 46 46
Total Revenue		 37 47 45 43 37 52 46 45 44 55 54
Operating Revenue		 37 47 45 43 37 52 46 45 44 55 54
Total Cost of Revenue		 5.53 6.22 6.48 6.16 5.94 6.53 7.02 7.29 8.41 8.56 8.18
Operating Cost of Revenue		 5.53 6.22 6.48 6.16 5.94 6.53 7.02 7.29 8.41 8.56 8.18
Total Operating Expenses		 38 40 38 29 34 34 35 33 30 33 34
Selling, General & Admin Expense		 16 15 13 9.91 12 10 11 11 11 12 13
Marketing Expense		 9.86 11 10 9.54 9.70 11 11 10 8.15 9.60 10
Research & Development Expense		 8.87 9.71 9.98 6.07 8.32 9.77 8.96 8.24 7.37 7.57 8.06
Amortization Expense		 - - - - 3.66 3.60 3.56 - 3.29 3.32 3.30
Restructuring Charge		 4.03 4.38 4.82 3.82 0.81 0.03 0.00 3.33 0.52 0.00 0.00
Total Other Income / (Expense), net		 -0.62 -1.11 -0.89 -0.51 -1.84 -1.30 -0.66 -1.39 -1.04 -0.81 -0.37
Interest Expense		 2.26 2.30 2.33 2.36 2.40 2.41 2.47 2.51 2.54 1.45 0.72
Other Income / (Expense), net		 1.64 1.19 1.44 1.85 0.56 1.11 1.81 1.12 1.50 0.64 0.35
Income Tax Expense		 -1.74 -0.70 -0.38 -1.37 -0.30 0.92 0.75 1.45 1.63 3.20 2.80
Basic Earnings per Share		 ($0.13) $0.01 $0.00 $0.19 ($0.10) $0.20 $0.05 $0.04 $0.06 $0.21 $0.19
Weighted Average Basic Shares Outstanding		 46.29M 46.90M 47.02M 46.56M 45.20M 45.65M 45.89M 45.72M 45.70M 45.05M 45.18M
Diluted Earnings per Share		 ($0.13) $0.01 $0.00 $0.19 ($0.10) $0.20 $0.05 $0.04 $0.06 $0.20 $0.17
Weighted Average Diluted Shares Outstanding		 46.29M 48.04M 48.31M 47.47M 45.20M 46.61M 46.85M 46.93M 47.16M 48.54M 48.71M
Weighted Average Basic & Diluted Shares Outstanding		 - 46.79M 46.20M 44.92M 45.24M 45.56M 45.65M 45.74M 45.32M 45.16M 45.12M

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 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

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 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Net Change in Cash & Equivalents		 5.63 16 3.41 9.11 -2.84 14 22 27 21 -106 21
Net Cash From Operating Activities		 -9.46 7.06 13 21 0.57 14 22 19 8.02 -0.95 27
Net Cash From Continuing Operating Activities		 -9.46 7.06 13 21 0.57 14 22 19 8.02 -0.95 27
Net Income / (Loss) Continuing Operations		 -5.79 0.28 0.22 8.57 -4.61 9.15 2.40 1.86 2.77 9.54 8.37
Consolidated Net Income / (Loss)		 -5.79 0.28 0.22 8.57 -4.61 9.15 2.40 1.86 2.77 9.54 8.37
Depreciation Expense		 0.39 0.45 0.54 0.38 0.40 0.34 0.43 0.14 0.35 0.43 0.50
Amortization Expense		 5.18 6.76 5.77 5.33 5.44 5.78 6.64 5.70 5.93 4.81 4.10
Non-Cash Adjustments To Reconcile Net Income		 3.06 11 3.13 0.35 4.89 9.99 5.19 3.35 3.06 8.89 4.05
Changes in Operating Assets and Liabilities, net		 -12 -12 3.33 6.47 -5.55 -12 6.92 8.42 -4.10 -25 10
Net Cash From Investing Activities		 18 9.50 0.45 0.91 0.84 -0.38 -0.65 6.02 24 6.74 -3.50
Net Cash From Continuing Investing Activities		 18 9.50 0.45 0.91 0.84 -0.38 -0.65 6.02 24 6.74 -3.50
Purchase of Property, Plant & Equipment		 -0.24 -0.48 -0.43 -0.28 -0.34 -0.23 -0.33 -0.26 -1.43 -1.55 -1.84
Purchase of Investments		 -15 -12 -18 -17 -12 -9.60 -12 -6.42 0.00 -2.22 -5.96
Sale and/or Maturity of Investments		 33 22 19 18 14 9.45 12 13 26 11 4.30
Net Cash From Financing Activities		 -3.11 0.10 -9.86 -13 -3.13 0.04 -0.00 1.25 -12 -111 -2.64
Net Cash From Continuing Financing Activities		 -3.11 0.10 -9.86 -13 -3.13 0.04 -0.00 1.25 -12 -111 -2.64
Repayment of Debt		 -0.04 -0.34 -0.04 -0.03 -0.05 -0.05 -0.27 -0.13 0.00 -155 -0.80
Repurchase of Common Equity		 0.00 - - -14 -3.26 -0.00 -0.00 -1.48 -10.00 -7.79 -2.00
Issuance of Debt		 0.71 0.25 0.22 0.32 0.00 - - 1.69 0.44 50 0.14
Issuance of Common Equity		 0.86 0.19 0.01 0.84 0.18 0.08 0.27 1.17 0.03 2.22 0.02
Other Net Changes in Cash		 - - - - - - - - - - -0.15
Cash Interest Paid		 - - 0.10 0.59 - - - 0.58 - - 0.52
Cash Income Taxes Paid		 7.84 0.67 3.43 0.05 0.69 4.26 2.11 2.02 0.08 4.27 3.30

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 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
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 4.36
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
Treasury Stock		 - - - - - - -0.14 - - - 0.00
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

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 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
Total Assets		 402 417 405 417 409 396 425 447 446 357 368
Total Current Assets		 160 178 186 202 196 177 204 226 239 157 168
Cash & Equivalents		 83 87 65 81 84 91 105 127 175 69 90
Short-Term Investments		 27 41 59 43 39 31 31 40 15 8.40 9.67
Accounts Receivable		 36 38 35 52 42 32 50 40 32 63 52
Prepaid Expenses		 2.79 2.23 6.91 7.78 12 5.05 3.49 3.67 2.13 2.94 3.40
Other Current Assets		 12 10 20 18 19 18 14 15 15 13 12
Plant, Property, & Equipment, net		 3.15 3.01 2.70 2.71 2.60 2.42 2.33 2.26 3.37 4.50 5.82
Total Noncurrent Assets		 239 236 217 213 211 217 219 219 204 196 194
Long-Term Investments		 4.77 2.82 0.00 6.34 10 17 16 8.30 1.71 0.00 0.45
Goodwill		 130 132 128 126 126 125 128 135 133 131 131
Intangible Assets		 73 70 63 59 55 48 45 44 36 33 29
Noncurrent Deferred & Refundable Income Taxes		 17 19 13 14 13 19 23 26 25 24 25
Other Noncurrent Operating Assets		 13 13 13 7.61 6.09 8.26 6.23 5.54 7.43 7.39 7.83
Total Liabilities & Shareholders' Equity		 402 417 405 417 409 396 425 447 446 357 368
Total Liabilities		 199 210 192 201 200 195 205 209 213 117 118
Total Current Liabilities		 45 54 40 47 44 39 196 199 203 60 61
Short-Term Debt		 6.07 8.01 0.00 0.00 0.00 - 148 150 154 2.50 2.81
Accounts Payable		 5.45 7.73 10 9.06 6.28 4.98 3.49 3.55 5.06 3.98 3.97
Current Deferred Revenue		 12 13 18 26 24 22 29 26 25 36 35
Current Deferred & Payable Income Tax Liabilities		 8.87 10 0.05 0.19 0.13 - - - - 3.00 3.06
Current Employee Benefit Liabilities		 7.89 9.55 7.06 9.59 11 7.54 11 14 11 12 15
Other Current Liabilities		 3.35 3.64 3.39 2.49 2.37 1.55 3.95 5.21 7.49 1.93 2.21
Total Noncurrent Liabilities		 154 156 152 154 156 156 9.57 10 9.69 58 56
Long-Term Debt		 132 134 137 139 142 146 0.00 0.00 - 48 47
Noncurrent Deferred Revenue		 1.21 2.06 1.05 1.02 1.26 0.69 0.37 0.84 0.74 1.50 1.62
Noncurrent Deferred & Payable Income Tax Liabilities		 16 16 6.76 6.69 6.70 3.64 2.72 2.89 0.30 0.29 0.29
Other Noncurrent Operating Liabilities		 5.07 4.54 6.70 6.42 6.20 6.46 6.48 6.59 8.65 8.24 7.88
Total Equity & Noncontrolling Interests		 203 208 214 216 210 201 220 238 234 239 251
Total Preferred & Common Equity		 203 208 214 216 210 201 220 238 234 239 251
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		 203 208 214 216 210 201 220 238 234 239 251
Common Stock		 223 226 236 241 244 252 257 262 267 274 279
Retained Earnings		 -8.10 -8.53 -15 -15 -25 -38 -29 -27 -33 -32 -23
Treasury Stock		 - - - - - - - - - - -2.00
Accumulated Other Comprehensive Income / (Loss)		 -12 -9.50 -7.59 -9.60 -9.87 -13 -7.95 2.34 0.47 -2.53 -2.75

Annual Metrics And Ratios for Mitek Systems

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%

Quarterly Metrics And Ratios for Mitek Systems

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

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 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 6/30/2026
DEI Shares Outstanding		 - - - - - 45,243,715.00 45,564,205.00 45,647,049.00 45,742,350.00 45,316,289.00 45,158,851.00
DEI Adjusted Shares Outstanding		 - - - - - 45,243,715.00 45,564,205.00 45,647,049.00 45,742,350.00 45,316,289.00 45,158,851.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 0.20 0.05 0.04 0.06 0.21 0.19
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -19.22% 1.83% 4.43% 14.78% 0.91% 10.56% 1.67% 3.60% 18.76% 5.61% 18.17%
EBITDA Growth		 -98.07% -45.28% -11.99% 217.97% 1,018.18% 123.07% 49.53% -23.70% 298.01% 4.46% 30.04%
EBIT Growth		 -160.56% -79.34% -20.13% 923.24% 52.39% 560.75% 158.71% -39.26% 376.38% 13.72% 111.81%
NOPAT Growth		 -180.40% -92.41% 123.78% 499.13% 55.55% 2,014.41% 464.78% -71.26% 259.34% -1.80% 197.99%
Net Income Growth		 -222.58% -94.54% 150.47% 695.35% 20.39% 3,145.39% 1,009.26% -78.30% 160.10% 4.20% 249.21%
EPS Growth		 -230.00% -90.91% 100.00% 733.33% 23.08% 1,900.00% 0.00% -78.95% 160.00% 0.00% 240.00%
Operating Cash Flow Growth		 -279.90% 12.11% -21.55% 507.60% 105.97% 94.55% 66.12% -7.78% 1,319.12% -106.88% 25.89%
Free Cash Flow Firm Growth		 88.61% -77.38% 125.95% 152.17% 231.01% 1,381.35% 789.24% 252.93% -1.39% -31.28% 131.65%
Invested Capital Growth		 3.55% -0.39% -0.23% 1.30% -8.21% -4.40% -2.85% -9.53% -6.17% -1.75% -5.88%
Revenue Q/Q Growth		 -1.96% 27.23% -4.24% -3.90% -13.81% 39.39% -11.94% -2.08% -1.19% 23.95% -1.46%
EBITDA Q/Q Growth		 -93.82% 2,060.56% -6.76% 80.02% -78.25% 459.92% -31.79% -8.14% 13.46% 46.95% -15.09%
EBIT Q/Q Growth		 -353.87% 135.80% 14.94% 340.83% -126.25% 596.81% -55.00% 3.49% 19.45% 104.41% -16.18%
NOPAT Q/Q Growth		 -110.40% 110.09% 5.16% 1,687.40% -123.43% 580.11% -71.91% -9.04% 29.90% 195.87% -14.76%
Net Income Q/Q Growth		 -302.29% 104.87% -23.40% 3,868.98% -153.80% 298.44% -73.82% -22.37% 49.03% 244.01% -12.26%
EPS Q/Q Growth		 -333.33% 107.69% -100.00% 0.00% -152.63% 300.00% -75.00% -20.00% 50.00% 233.33% -15.00%
Operating Cash Flow Q/Q Growth		 -372.47% 174.65% 83.82% 62.51% -97.32% 2,332.39% 56.96% -9.78% -58.80% -111.79% 2,973.65%
Free Cash Flow Firm Q/Q Growth		 -3.20% 110.81% -24.99% 523.38% 159.17% 22.24% -54.97% 155.35% -29.84% -14.81% 51.79%
Invested Capital Q/Q Growth		 6.49% -1.05% -3.17% -0.73% -3.51% 3.06% -1.59% -7.64% 0.17% 7.92% -5.73%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 85.01% 86.77% 85.59% 85.74% 84.04% 87.42% 84.64% 83.72% 81.00% 84.39% 84.86%
EBITDA Margin		 0.80% 19.37% 18.86% 35.33% 8.91% 35.81% 27.74% 26.02% 29.88% 35.42% 30.52%
Operating Margin		 -18.73% 1.49% 1.63% 17.85% -8.25% 21.89% 8.33% 10.47% 12.30% 24.71% 21.36%
EBIT Margin		 -14.29% 4.02% 4.82% 22.13% -6.74% 24.02% 12.28% 12.97% 15.69% 25.87% 22.00%
Profit (Net Income) Margin		 -15.69% 0.60% 0.48% 19.83% -12.38% 17.62% 5.24% 4.15% 6.27% 17.39% 15.48%
Tax Burden Percent		 76.86% -67.95% -135.85% 119.04% 93.95% 90.90% 76.18% 56.28% 63.03% 74.87% 74.91%
Interest Burden Percent		 142.91% -21.98% -7.33% 75.29% 195.50% 80.71% 56.02% 56.88% 63.37% 89.78% 93.94%
Effective Tax Rate		 0.00% 0.00% 0.00% -19.04% 0.00% 9.10% 23.82% 43.72% 36.97% 25.13% 25.09%
Return on Invested Capital (ROIC)		 -9.58% 0.76% 0.87% 16.97% -4.56% 16.00% 5.25% 5.13% 7.13% 16.41% 15.37%
ROIC Less NNEP Spread (ROIC-NNEP)		 -14.00% -0.50% -2.09% 5.80% -26.42% -32.30% 11.36% 8.81% 11.66% 20.19% 16.11%
Return on Net Nonoperating Assets (RNNOA)		 -1.49% -0.04% -0.10% 0.15% -1.43% -0.36% -0.42% -0.82% -0.78% -1.41% -2.51%
Return on Equity (ROE)		 -11.08% 0.72% 0.77% 17.12% -5.99% 15.63% 4.83% 4.31% 6.36% 14.99% 12.86%
Cash Return on Invested Capital (CROIC)		 -3.40% -2.00% -2.57% -0.57% 15.77% 12.79% 12.09% 16.18% 16.02% 10.80% 18.25%
Operating Return on Assets (OROA)		 -5.92% 1.62% 1.94% 9.30% -2.90% 10.12% 5.11% 5.34% 6.95% 12.54% 10.69%
Return on Assets (ROA)		 -6.50% 0.24% 0.19% 8.33% -5.33% 7.42% 2.18% 1.71% 2.78% 8.43% 7.52%
Return on Common Equity (ROCE)		 -11.08% 0.72% 0.77% 17.12% -5.99% 15.63% 4.83% 4.31% 6.36% 14.99% 12.86%
Return on Equity Simple (ROE_SIMPLE)		 -1.17% -3.41% -3.21% 0.00% 2.22% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.84 0.49 0.51 9.18 -2.15 10 2.90 2.64 3.43 10 8.65
NOPAT Margin		 -13.11% 1.04% 1.14% 21.25% -5.78% 19.89% 6.35% 5.89% 7.75% 18.50% 16.00%
Net Nonoperating Expense Percent (NNEP)		 4.41% 1.26% 2.96% 11.17% 21.87% 48.30% -6.11% -3.68% -4.53% -3.79% -0.74%
Return On Investment Capital (ROIC_SIMPLE)		 -1.38% - - 2.56% -0.62% 2.81% 0.75% 0.67% 0.88% 3.50% 2.88%
Cost of Revenue to Revenue		 14.99% 13.23% 14.41% 14.26% 15.96% 12.58% 15.36% 16.28% 19.00% 15.61% 15.14%
SG&A Expenses to Revenue		 42.09% 31.82% 28.02% 22.92% 31.95% 19.45% 24.60% 24.75% 25.03% 22.33% 23.92%
R&D to Revenue		 24.04% 20.68% 22.19% 14.05% 22.34% 18.81% 19.59% 18.39% 16.67% 13.80% 14.91%
Operating Expenses to Revenue		 103.74% 85.28% 83.96% 67.89% 92.30% 65.54% 76.31% 73.25% 68.70% 59.69% 63.50%
Earnings before Interest and Taxes (EBIT)		 -5.27 1.89 2.17 9.57 -2.51 12 5.61 5.81 6.94 14 12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 0.30 9.10 8.48 15 3.32 19 13 12 13 19 16
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.78 3.05 2.50 1.86 2.49 1.70 1.90 1.86 2.07 2.55 3.63
Price to Tangible Book Value (P/TBV)		 25.89 21.35 18.55 13.77 17.60 7.94 7.63 6.66 7.57 8.12 10.13
Price to Revenue (P/Rev)		 3.63 4.01 3.14 2.33 2.90 2.10 2.53 2.48 2.59 3.23 4.59
Price to Earnings (P/E)		 0.00 0.00 0.00 122.20 112.12 28.00 29.09 50.70 29.83 36.93 40.34
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		 0.00% 0.00% 0.00% 0.82% 0.89% 3.57% 3.44% 1.97% 3.35% 2.71% 2.48%
Enterprise Value to Invested Capital (EV/IC)		 2.67 2.97 2.43 1.86 2.43 1.71 2.01 2.05 2.27 2.76 4.30
Enterprise Value to Revenue (EV/Rev)		 3.71 4.06 3.19 2.34 2.94 2.08 2.39 2.24 2.39 3.08 4.34
Enterprise Value to EBITDA (EV/EBITDA)		 19.39 31.03 26.05 12.43 14.34 8.07 8.54 8.69 7.93 10.25 14.12
Enterprise Value to EBIT (EV/EBIT)		 112.17 0.00 0.00 48.20 45.69 16.99 16.93 18.78 14.44 17.95 22.10
Enterprise Value to NOPAT (EV/NOPAT)		 3,158.77 0.00 0.00 257.69 32.23 20.16 21.48 31.58 22.75 30.26 34.18
Enterprise Value to Operating Cash Flow (EV/OCF)		 36.06 37.95 37.80 12.70 12.17 7.62 7.47 7.26 7.09 12.14 15.99
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 14.73 13.07 16.35 12.04 13.71 25.31 22.83
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.64 0.65 0.68 0.67 0.73 0.67 0.63 0.63 0.66 0.21 0.20
Long-Term Debt to Equity		 0.64 0.65 0.68 0.67 0.73 0.00 0.00 0.00 0.00 0.20 0.19
Financial Leverage		 0.11 0.08 0.05 0.03 0.05 0.01 -0.04 -0.09 -0.07 -0.07 -0.16
Leverage Ratio		 1.95 1.95 1.98 1.95 1.93 1.93 1.91 1.92 1.94 1.70 1.67
Compound Leverage Factor		 2.79 -0.43 -0.15 1.47 3.78 1.56 1.07 1.09 1.23 1.53 1.57
Debt to Total Capital		 39.14% 39.22% 40.30% 40.07% 42.04% 40.17% 38.70% 38.78% 39.80% 17.27% 16.46%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 40.17% 38.70% 38.78% 39.80% 0.86% 0.94%
Long-Term Debt to Total Capital		 39.14% 39.22% 40.30% 40.07% 42.04% 0.00% 0.00% 0.00% 0.00% 16.41% 15.53%
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		 60.86% 60.78% 59.70% 59.93% 57.96% 59.83% 61.30% 61.22% 60.20% 82.73% 83.54%
Debt to EBITDA		 4.38 6.47 6.94 4.43 4.12 3.24 3.01 3.29 2.75 0.88 0.81
Net Debt to EBITDA		 0.43 0.43 0.41 0.06 0.22 -0.10 -0.51 -0.96 -0.66 -0.48 -0.84
Long-Term Debt to EBITDA		 4.38 6.47 6.94 4.43 4.12 0.00 0.00 0.00 0.00 0.83 0.77
Debt to NOPAT		 714.21 -25.84 -23.05 91.95 9.25 8.08 7.57 11.97 7.89 2.59 1.97
Net Debt to NOPAT		 70.52 -1.71 -1.35 1.19 0.50 -0.25 -1.28 -3.48 -1.91 -1.43 -2.02
Long-Term Debt to NOPAT		 714.21 -25.84 -23.05 91.95 9.25 0.00 0.00 0.00 0.00 2.46 1.85
Altman Z-Score		 2.60 2.77 2.36 2.01 2.24 1.53 1.72 1.68 1.82 3.99 5.54
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		 4.70 4.27 4.46 4.39 4.59 1.04 1.14 1.19 1.18 2.61 2.74
Quick Ratio		 4.02 3.72 3.75 3.84 3.98 0.95 1.04 1.10 1.09 2.35 2.48
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -13 1.37 1.03 6.39 17 20 9.12 23 16 14 21
Operating Cash Flow to CapEx		 -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% 1,475.87%
Free Cash Flow to Firm to Interest Expense		 -5.59 0.59 0.44 2.71 6.91 8.42 3.69 9.30 6.43 9.60 29.31
Operating Cash Flow to Interest Expense		 -4.18 3.07 5.58 8.93 0.24 5.71 8.74 7.77 3.15 -0.65 37.66
Operating Cash Flow Less CapEx to Interest Expense		 -4.29 2.86 5.39 8.81 0.10 5.61 8.60 7.67 2.59 -1.72 35.11
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.41 0.40 0.40 0.42 0.43 0.42 0.42 0.41 0.44 0.48 0.49
Accounts Receivable Turnover		 5.16 3.74 4.20 5.39 5.10 3.48 4.35 5.25 5.81 3.35 4.28
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		 54.03 56.18 59.40 63.82 67.44 70.49 73.31 73.67 64.48 55.56 48.99
Accounts Payable Turnover		 2.88 3.27 3.50 3.29 3.27 4.01 5.22 4.82 5.83 8.38 8.62
Days Sales Outstanding (DSO)		 70.80 97.59 86.83 67.68 71.57 104.85 83.82 69.56 62.84 108.92 85.31
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)		 126.64 111.57 104.33 110.91 111.48 91.13 69.90 75.69 62.64 43.55 42.32
Cash Conversion Cycle (CCC)		 -55.85 -13.98 -17.50 -43.23 -39.91 13.72 13.92 -6.13 0.20 65.37 42.99
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 228 226 218 217 209 216 212 196 196 212 200
Invested Capital Turnover		 0.73 0.73 0.76 0.80 0.79 0.80 0.83 0.87 0.92 0.89 0.96
Increase / (Decrease) in Invested Capital		 7.81 -0.88 -0.51 2.79 -19 -9.93 -6.22 -21 -13 -3.78 -12
Enterprise Value (EV)		 608 669 531 402 508 369 426 402 445 584 858
Market Capitalization		 594 660 523 401 500 373 451 446 483 612 909
Book Value per Share		 $4.69 $4.62 $4.48 $4.65 $4.47 $4.87 $5.21 $5.26 $5.11 $5.28 $5.55
Tangible Book Value per Share		 $0.50 $0.66 $0.60 $0.63 $0.63 $1.04 $1.30 $1.47 $1.39 $1.66 $1.99
Total Capital		 351 356 351 358 347 368 388 392 388 289 300
Total Debt		 137 139 142 144 146 148 150 152 154 50 49
Total Long-Term Debt		 137 139 142 144 146 0.00 0.00 0.00 0.00 48 47
Net Debt		 14 9.23 8.31 1.85 7.83 -4.56 -25 -44 -37 -28 -51
Capital Expenditures (CapEx)		 0.24 0.48 0.43 0.28 0.34 0.23 0.33 0.26 1.43 1.55 1.84
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 22 30 29 13 17 20 9.99 -1.34 0.38 21 9.78
Debt-free Net Working Capital (DFNWC)		 146 154 152 143 138 156 177 192 190 99 109
Net Working Capital (NWC)		 146 154 152 143 138 8.35 27 39 36 97 107
Net Nonoperating Expense (NNE)		 0.95 0.21 0.30 0.61 2.46 1.18 0.51 0.78 0.66 0.61 0.28
Net Nonoperating Obligations (NNO)		 14 9.44 8.81 2.06 8.33 -4.56 -25 -44 -37 -28 -51
Total Depreciation and Amortization (D&A)		 5.57 7.21 6.31 5.70 5.83 6.12 7.07 5.84 6.28 5.24 4.60
Debt-free, Cash-free Net Working Capital to Revenue		 13.71% 18.48% 17.24% 7.30% 9.91% 11.28% 5.61% -0.74% 0.20% 11.33% 4.94%
Debt-free Net Working Capital to Revenue		 89.37% 93.77% 91.15% 83.04% 80.21% 88.05% 99.40% 106.67% 102.02% 52.25% 55.33%
Net Working Capital to Revenue		 89.37% 93.77% 91.15% 83.04% 80.21% 4.71% 15.19% 21.96% 19.28% 50.93% 53.91%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.13) $0.01 $0.00 $0.19 ($0.10) $0.20 $0.05 $0.04 $0.06 $0.21 $0.19
Adjusted Weighted Average Basic Shares Outstanding		 46.29M 46.90M 47.02M 46.56M 45.20M 45.65M 45.89M 45.72M 45.70M 45.05M 45.18M
Adjusted Diluted Earnings per Share		 ($0.13) $0.01 $0.00 $0.19 ($0.10) $0.20 $0.05 $0.04 $0.06 $0.20 $0.17
Adjusted Weighted Average Diluted Shares Outstanding		 46.29M 48.04M 48.31M 47.47M 45.20M 46.61M 46.85M 46.93M 47.16M 48.54M 48.71M
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 46.79M 46.20M 44.92M 45.24M 45.56M 45.65M 45.74M 45.32M 45.16M 45.12M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.02 3.55 3.89 8.08 0.97 10 5.61 4.51 3.75 10 8.65
Normalized NOPAT Margin		 -5.47% 7.57% 8.64% 18.69% 2.61% 19.95% 12.28% 10.08% 8.48% 18.50% 16.00%
Pre Tax Income Margin		 -20.42% -0.88% -0.35% 16.66% -13.18% 19.39% 6.88% 7.38% 9.94% 23.22% 20.67%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -2.33 0.82 0.93 4.05 -1.05 5.18 2.27 2.32 2.73 9.78 16.49
NOPAT to Interest Expense		 -2.14 0.21 0.22 3.88 -0.90 4.29 1.18 1.05 1.35 7.00 11.99
EBIT Less CapEx to Interest Expense		 -2.44 0.61 0.75 3.93 -1.19 5.09 2.14 2.22 2.17 8.71 13.94
NOPAT Less CapEx to Interest Expense		 -2.25 0.00 0.04 3.77 -1.04 4.20 1.04 0.95 0.79 5.93 9.44
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% -149.07% 737.64% 615.32% 205.85% 112.19% 53.87% 70.93% 116.33% 94.38%

Financials Breakdown Chart

Key Financial Trends

Mitek Systems’ latest results show a meaningful improvement in profitability and operating cash flow. For Q3 fiscal 2026, revenue increased to $54.0 million, up from $45.7 million in the restated Q3 fiscal 2025 and $44.2 million in Q1 fiscal 2026. Net income rose to $8.4 million, compared with $2.4 million in the year-earlier quarter. However, revenue declined modestly from $54.8 million in Q2, indicating that growth may not be entirely consistent quarter to quarter.

The balance sheet has also been reshaped. Cash and equivalents stood at $90.0 million at the end of Q3, while total debt was approximately $49.4 million. This represents a significant reduction from the $154.5 million of short-term debt reported at the end of Q1 fiscal 2026, although the debt reduction was accompanied by substantial cash usage.

  • Revenue growth has accelerated. Q3 fiscal 2026 revenue of $54.0 million was approximately 18% higher than the restated year-earlier quarter and 46% above Q1 fiscal 2025 revenue of $37.3 million.
  • Profitability improved sharply. Operating income increased to $11.5 million in Q3 fiscal 2026 from $3.8 million a year earlier. The operating margin expanded to roughly 21%, compared with about 8% in Q3 fiscal 2025.
  • Gross margins remain strong. Gross profit was $45.9 million in Q3 fiscal 2026, implying an approximately 85% gross margin. This was broadly consistent with the 84% to 88% range reported across the available quarters.
  • Operating cash flow rebounded. Cash flow from operations increased to $27.2 million in Q3 fiscal 2026 from negative $0.9 million in Q2 and was above the $21.6 million generated in the restated Q3 fiscal 2025.
  • Debt has been substantially reduced. Total debt fell from roughly $154.5 million at the end of Q1 fiscal 2026 to $49.4 million at the end of Q3. Lower leverage should reduce financial risk and future interest costs if the trend is maintained.
  • Liquidity is currently comfortable. Q3 current assets of $167.9 million were approximately 2.7 times current liabilities of $61.2 million. Cash and short-term investments alone totaled about $99.7 million.
  • Deferred revenue provides some visibility but creates execution obligations. Current and noncurrent deferred revenue totaled approximately $36.1 million in Q3 fiscal 2026, representing future revenue that has been billed or collected but not yet recognized.
  • Investment activity has materially influenced cash balances. Mitek has repeatedly purchased and sold short-term investments, making quarter-to-quarter changes in cash less reflective of operating performance alone.
  • Revenue declined sequentially. Q3 revenue fell approximately 1.5% from $54.8 million in Q2 fiscal 2026. Investors will want to see renewed sequential growth to confirm that the broader expansion trend is sustainable.
  • The asset base remains concentrated in goodwill and intangible assets. These assets totaled approximately $160.8 million, or nearly 44% of total assets, at the end of Q3. Future impairment charges could materially reduce reported equity if business expectations weaken.

Overall, Mitek’s recent financial profile is stronger than it was in 2023 and early 2024: revenue is higher, operating margins have expanded, net income is positive, and operating cash generation has improved. The primary issues for investors to monitor are the sustainability of revenue growth, the company’s ability to maintain positive operating cash flow, and whether debt reduction continues without weakening its liquidity position.

08/18/26 07:34 PM 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 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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