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Technology - Software - Application - NASDAQ - US
$ 7.17
-4.02 %
$ 324 M
Market Cap
71.7
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one MITK stock under the worst case scenario is HIDDEN Compared to the current market price of 7.17 USD, Mitek Systems, Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one MITK stock under the base case scenario is HIDDEN Compared to the current market price of 7.17 USD, Mitek Systems, Inc. is HIDDEN

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one MITK stock under the best case scenario is HIDDEN Compared to the current market price of 7.17 USD, Mitek Systems, Inc. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart MITK

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$11.5$11.5$11.0$11.0$10.5$10.5$10.0$10.0$9.5$9.5$9.0$9.0$8.5$8.5$8.0$8.0$7.5$7.5$7.0$7.015 Oct15 OctNov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '25
FINANCIALS
172 M REVENUE
-0.27%
2.23 M OPERATING INCOME
-85.67%
3.28 M NET INCOME
-59.16%
31.7 M OPERATING CASH FLOW
0.32%
28.7 M INVESTING CASH FLOW
523.73%
-25.9 M FINANCING CASH FLOW
-1521.58%
37.3 M REVENUE
-13.81%
-3.07 M OPERATING INCOME
-39.84%
-4.61 M NET INCOME
-53.80%
565 K OPERATING CASH FLOW
-97.32%
840 K INVESTING CASH FLOW
-8.10%
-3.13 M FINANCING CASH FLOW
75.95%
Balance Sheet Mitek Systems, Inc.
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Current Assets 185 M
Cash & Short-Term Investments 130 M
Receivables 47.5 M
Other Current Assets 7.21 M
Non-Current Assets 229 M
Long-Term Investments 11.4 M
PP&E 7.23 M
Other Non-Current Assets 210 M
31.50 %11.48 %50.77 %Total Assets$413.8m
Current Liabilities 42.1 M
Accounts Payable 7.24 M
Short-Term Debt 805 K
Other Current Liabilities 34.1 M
Non-Current Liabilities 157 M
Long-Term Debt 148 M
Other Non-Current Liabilities 8.97 M
3.64 %17.14 %74.30 %4.51 %Total Liabilities$199.0m
EFFICIENCY
Earnings Waterfall Mitek Systems, Inc.
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Revenue 172 M
Cost Of Revenue 309 K
Gross Profit 172 M
Operating Expenses 170 M
Operating Income 2.23 M
Other Expenses -1.05 M
Net Income 3.28 M
180m180m160m160m140m140m120m120m100m100m80m80m60m60m40m40m20m20m00172m(309k)172m(170m)2m1m3mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
99.82% GROSS MARGIN
99.82%
1.30% OPERATING MARGIN
1.30%
1.90% NET MARGIN
1.90%
1.53% ROE
1.53%
0.79% ROA
0.79%
-2.16% ROIC
-2.16%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Mitek Systems, Inc.
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40m40m35m35m30m30m25m25m20m20m15m15m10m10m5m5m0020162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 3.28 M
Depreciation & Amortization 16.9 M
Capital Expenditures -1.44 M
Stock-Based Compensation 12.6 M
Change in Working Capital 1.4 M
Others 4.67 M
Free Cash Flow 30.2 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Mitek Systems, Inc.
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Wall Street analysts predict an average 1-year price target for MITK of $12.6 , with forecasts ranging from a low of $9.5 to a high of $15 .
MITK Lowest Price Target Wall Street Target
9.5 USD 32.50%
MITK Average Price Target Wall Street Target
12.6 USD 76.08%
MITK Highest Price Target Wall Street Target
15 USD 109.21%
Price
Max Price Target
Min Price Target
Average Price Target
151514141313121211111010998877May '24May '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
5. COMPETITION
slide 2 of 13
6. Ownership
Insider Ownership Mitek Systems, Inc.
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Sold
0-3 MONTHS
369 K USD 1
3-6 MONTHS
152 K USD 3
6-9 MONTHS
0 USD 0
9-12 MONTHS
476 K USD 2
Bought
775 K USD 4
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Mitek Systems: Secular Growth Opportunity From AI-Based Threat MITK, a digital identity verification software company, faces a secular growth opportunity driven by rising AI-based identity fraud, particularly benefiting its new product, Check Fraud Defender (CFD). Despite recent underperformance, I assign MITK a buy rating with a $10.6 target price, projecting a 15% upside by FY 2025. Slowed revenue growth resulting in net losses created appearance of underperformance due to revenue timing issues. But no meaningful structural issues exist. Balance sheet remains strong. seekingalpha.com - 1 month ago
ID R&D Delivers Industry Leading Liveness Results in U.S. Homeland Security Evaluation of Remote Identity Validation Systems SAN DIEGO--(BUSINESS WIRE)-- #DHS--ID R&D, a Mitek Systems company, excelled in the DHS Science and Technology Directorate's evaluation of remote identity validation systems. businesswire.com - 2 months ago
Mitek Systems, Inc. (MITK) Q1 2025 Earnings Call Transcript Mitek Systems, Inc. (NASDAQ:MITK ) Q1 2025 Earnings Conference Call February 10, 2025 5:00 PM ET Company Participants Todd Kehrli - Investor Relations, PondelWilkinson Ed West - Chief Executive Officer Dave Lyle - Chief Financial Officer Conference Call Participants Jake Roberge - William Blair Mike Grondahl - Northland Securities Allen Klee - Maxim Group Surinder Thind - Jefferies Operator Good afternoon, and welcome to the Mitek Fiscal 2025 First Quarter Earnings Conference Call. All participants will be in listen-only mode. seekingalpha.com - 2 months ago
Mitek Systems (MITK) Beats Q1 Earnings and Revenue Estimates Mitek Systems (MITK) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.14 per share a year ago. zacks.com - 2 months ago
Mitek Reports Fiscal 2025 First Quarter Financial Results SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com, “Mitek” or the “Company”), a global leader in digital identity verification, mobile capture and fraud management, today reported financial results for its first quarter ended December 31, 2024 and raised the lower end of its Adjusted EBITDA margin guidance range for its fiscal 2025 full year ending September 30, 2025 (“fiscal 2025”). “We delivered a solid first quarter, with results ahead of our expectations in. businesswire.com - 2 months ago
CSI Launches Advanced Check Fraud Detection Tool in Partnership With Mitek Systems PADUCAH, Ky.--(BUSINESS WIRE)--CSI's new solution equips bank tellers with real-time check fraud detection capabilities and more. businesswire.com - 2 months ago
Mitek Systems Announces Mark Rossi as a Nominee to its Board of Directors SAN DIEGO--(BUSINESS WIRE)-- #BoardOfDirectors--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture, and fraud management, today announced the nomination of Mark Rossi to its board of directors. Mr. Rossi will also serve as a member of the board's audit committee, pending shareholder approval at the company's upcoming annual meeting. Mr. Rossi brings over four decades of strategic, financial, and operational expertise, having served on the boards of approximately 25. businesswire.com - 2 months ago
Mitek to Report Fiscal 2025 First Quarter Financial Results on February 10, 2025 SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will conduct a conference call on Monday, February 10th at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal first quarter ended December 31, 2024. The financial results will be issued in a press release before the call. Mitek CEO Ed West and CFO Dave Lyle will host the call, f. businesswire.com - 2 months ago
Mitek to Participate in the 27th Annual Needham Growth Conference on January 14, 2025 SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will participate in the 27th Annual Needham Growth Conference on January 14th in New York. Ed West, CEO, and Dave Lyle, CFO, will host one-on-one meetings with investors that day. To schedule a meeting with the Company, please contact your representative at Needham or MKR Investor Relations. Mitek (NASDAQ: MITK) is a globa. businesswire.com - 4 months ago
Mitek: Guidance Not Bad When Considering SaaS Mix Growth Mitek's strong quarter featured impressive cost control and solid revenue growth, particularly in Check Fraud Defender and ID products. Check Fraud Defender's annualized contract value grew nearly 60% year-over-year, with expectations to double in fiscal 2025, a basis for sustained CFD revenue growth. Operating expenses have decreased considerably, and Mitek is focused on high-return growth opportunities, including M&A to enhance their technology stack and product offerings. seekingalpha.com - 4 months ago
Mitek Systems Beats Q4 Earnings and Revenue Estimates, Stock Up MITK's Q4 top and bottom lines top estimates and rise year over year. The company aims to boost revenues and reduce costs by streamlining redundancies. zacks.com - 4 months ago
Mitek Systems Earnings: Strong Q4 Results Propel Stock Higher Mitek Systems is a cyber fraud player with strong free cash flow, trading at a compelling 15x forward free cash flow valuation. The new CEO's strategic initiatives and potential double-digit revenue growth by fiscal 2026 could drive significant upside. The company's robust EBITDA margins and manageable net debt position support the bullish outlook. seekingalpha.com - 4 months ago
8. Profile Summary

Mitek Systems, Inc. MITK

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COUNTRY US
INDUSTRY Software - Application
MARKET CAP $ 324 M
Dividend Yield 0.00%
Description Mitek Systems, Inc. develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences. It offers Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications. The company also provides Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion; and MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks. In addition, it offers CheckReader that enables financial institutions to automatically extract data from checks; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile. Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice that helps stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images. Mitek Systems, Inc. was incorporated in 1986 and is based in San Diego, California.
Contact 600 B Street, San Diego, CA, 92101 https://www.miteksystems.com
IPO Date Jan. 3, 1989
Employees 565
Officers Mr. Michael E. Diamond GM & Senior Vice President of Digital Banking Ms. Judith Ohrn Hicks Senior Vice President of People Operations Mr. Christopher Briggs Senior Vice President of Identity, Chief Product Officer & Head of Products Mr. Edward H. West Chief Executive Officer & Director Mr. Alexey Khitrov Chief Technology Officer & Chief Innovation Officer Mr. David B. Lyle Chief Financial Officer Mr. Todd Kehrli Investor Contacts Ms. Cindy White Chief Marketing Officer Mr. Jason L. Gray J.D. Chief Legal Officer, Chief Compliance Officer & Corporate Secretary