MITEK SYSTEMS INCMITKEarnings & Financial Report
Mitek Systems, Inc. is a software company that specializes in digital identity verification and mobile image processing using artificial intelligence. The company's software is used for depositing checks and opening bank accounts via mobile devices. It also verifies identity documents such as passports, ID cards, and driver's licenses by analyzing a selfie of an individual holding their ID, comparing their face to the photo on the document.
Revenue
$51.9M
Gross Profit
N/A
Operating Profit
$11.4M
Net Profit
$9.2M
Gross Margin
N/A
Operating Margin
21.9%
Net Margin
17.6%
YoY Growth
10.6%
EPS
$0.20
MITEK SYSTEMS INC Q2 FY2025 Financial Summary
MITEK SYSTEMS INC reported revenue of $51.9M (up 10.6% YoY) for Q2 FY2025, with a net profit of $9.2M (up 3145.4% YoY) (17.6% margin).
Key Financial Metrics
| Total Revenue | $51.9M |
|---|---|
| Net Profit | $9.2M |
| Gross Margin | N/A |
| Operating Margin | 21.9% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
MITEK SYSTEMS INC Q2 FY2025 revenue of $51.9M breaks down across 2 segments, led by Deposits Revenue at $33.7M (64.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Deposits Revenue | $33.7M | 64.9% |
| Identity Verification Revenue | $18.2M | 35.1% |
MITEK SYSTEMS INC Revenue by Segment — Quarterly Trend
MITEK SYSTEMS INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Deposits Revenue and Identity Verification Revenue) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Deposits Revenue | — | — | $26.2M | $33.7M |
| Identity Verification Revenue | — | — | $19.5M | $18.2M |
MITEK SYSTEMS INC Annual Revenue by Year
MITEK SYSTEMS INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $179.7M).
| Year | Annual Revenue |
|---|---|
| 2025 | $179.7M |
| 2024 | $172.1M |
| 2023 | $172.6M |
| 2022 | $144.8M |
MITEK SYSTEMS INC Quarterly Revenue & Net Profit History
MITEK SYSTEMS INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $44.2M | +18.8% | $2.8M | 6.3% |
| Q4 FY2025 | $44.8M | +3.6% | $1.9M | 4.2% |
| Q3 FY2025 | $45.7M | +1.7% | $2.4M | 5.2% |
| Q2 FY2025 | $51.9M | +10.6% | $9.2M | 17.6% |
| Q1 FY2025 | $37.3M | +0.9% | $-4.6M | -12.4% |
| Q4 FY2024 | $43.2M | +14.8% | $8.6M | 19.8% |
| Q3 FY2024 | $45.0M | +4.4% | $216.0K | 0.5% |
| Q2 FY2024 | $47.0M | +1.8% | $282.0K | 0.6% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $47.0M | $45.0M | $43.2M | $37.3M | $51.9M | $45.7M | $44.8M | $44.2M |
| YoY Growth | 1.8% | 4.4% | 14.8% | 0.9% | 10.6% | 1.7% | 3.6% | 18.8% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $417.0M | $409.2M | $413.8M | $396.0M | $425.3M | $446.7M | $459.1M | $446.5M |
| Liabilities | $200.9M | $199.6M | $199.0M | $195.0M | $205.1M | $209.1M | $218.9M | $212.8M |
| Equity | $216.1M | $209.6M | $214.8M | $200.9M | $220.2M | $237.6M | $240.3M | $233.7M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $7.1M | $13.0M | $21.1M | $565000 | $13.7M | $21.6M | $19.5M | $8.0M |