Mitek Systems Inc (OQ:MITK)
Business Focus: Mobile Application Software
| Sector: Technology | Industry: Software |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | Suite 100, 600 B Street SAN DIEGO CA 92101 |
| Tel: | 1-323-4682300 |
| Website: | https://www.miteksystems.com |
| IR: | See website |
| Key People | ||
| Scott R. Carter Chairman of the Board | Scipio Maximus Carnecchia Chief Executive Officer, Director | David Lyle Chief Financial Officer, Senior Vice President, Principal Accounting Officer, Principal Financial Officer |
| Michael E. Diamond Senior Vice President, General Manager - Digital Banking | Jason L. Gray Chief Legal Officer, Chief Compliance Officer, Corporate Secretary | |
| Business Overview |
| Mitek Systems, Inc. is a provider of mobile image capture and digital identity verification solutions. It is a software development company with expertise in computer vision, artificial intelligence, and machine learning. Its digital technology solutions are provided in two parts: a software development kit for mobile image capture and a cloud software platform which uses artificial intelligence, and machine learning to classify and extract data to enable mobile check deposit as well as aid the authentication of identity documents including passports, identity cards, and driver's licenses using a camera-equipped device. Its products include Mobile Deposit, Mobile Verify, Mobile Fill, CheckReader, Check Fraud Defender, Check Intelligence, Mitek Verified Identity Platform, MiPass, ID_CLOUD, IDLive Face, IDVoice, IDLive Voice and IDLive Doc. The Company serves more than 7,900 financial services organizations and marketplace and financial technology (fintech) brands around the globe. |
| Financial Overview |
| For the six months ended 31 March 2024, Mitek Systems Inc revenues decreased 9% to $83.9M. Net loss totaled $5.5M vs. income of $9.9M. Revenues reflect Deposits software and hardware segment decrease of 22% to $36.5M, Identity verification software and hardware segment decrease of 13% to $4.3M. Net loss reflects General & Administrative increase of 70% to $26.8M (expense), Research & development increase of 19% to $16.2M (expense). |
| Employees: | 573 as of Sep 30, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $627.92M as of Mar 31, 2024 |
| Annual revenue (TTM): | $164.61M as of Mar 31, 2024 |
| EBITDA (TTM): | $14.19M as of Mar 31, 2024 |
| Net annual income (TTM): | -$7.38M as of Mar 31, 2024 |
| Free cash flow (TTM): | $16.24M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $17.77M as of Mar 31, 2024 |
| Shares outstanding: | 46,790,611 as of Apr 30, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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