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Mitek Sys Inc Financials

MITK
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE September

This page shows Mitek Sys Inc (MITK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 54 / 100
Financial Profile 54/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
43

Mitek Sys Inc has an operating margin of 9.3%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 43/100, indicating healthy but not exceptional operating efficiency. This is up from 1.3% the prior year.

Growth
41

Mitek Sys Inc's revenue grew a modest 4.4% year-over-year to $179.7M. This slow but positive growth earns a score of 41/100.

Leverage
100

Mitek Sys Inc carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
19

Mitek Sys Inc's current ratio of 1.19 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 19/100, which could limit financial flexibility.

Cash Flow
100

Mitek Sys Inc converts 30.1% of revenue into free cash flow ($54.2M). This strong cash generation earns a score of 100/100.

Returns
19

Mitek Sys Inc generates a 3.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100. This is up from 1.5% the prior year.

Altman Z-Score Grey Zone
2.24

Mitek Sys Inc scores 2.24, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($623.1M) relative to total liabilities ($218.9M). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral
5/9

Mitek Sys Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
6.29x

For every $1 of reported earnings, Mitek Sys Inc generates $6.29 in operating cash flow ($55.3M OCF vs $8.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk
1.7x

Mitek Sys Inc earns $1.7 in operating income for every $1 of interest expense ($16.8M vs $9.8M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$179.7M
YoY+4.4%
5Y CAGR+12.1%
10Y CAGR+21.6%

Mitek Sys Inc generated $179.7M in revenue in fiscal year 2025. This represents an increase of 4.4% from the prior year.

EBITDA
$18.1M
YoY+348.8%
5Y CAGR+11.8%
10Y CAGR+22.8%

Mitek Sys Inc's EBITDA was $18.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 348.8% from the prior year.

Net Income
$8.8M
YoY+168.3%
5Y CAGR+2.4%
10Y CAGR+13.3%

Mitek Sys Inc reported $8.8M in net income in fiscal year 2025. This represents an increase of 168.3% from the prior year.

EPS (Diluted)
$0.19
YoY+171.4%
5Y CAGR+1.1%
10Y CAGR+9.0%

Mitek Sys Inc earned $0.19 per diluted share (EPS) in fiscal year 2025. This represents an increase of 171.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$54.2M
YoY+79.1%
5Y CAGR+18.4%
10Y CAGR+24.5%

Mitek Sys Inc generated $54.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 79.1% from the prior year.

Cash & Debt
$154.2M
YoY+64.9%
5Y CAGR+50.5%
10Y CAGR+49.6%

Mitek Sys Inc held $154.2M in cash against $4.3M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
45M
YoY+0.0%
5Y CAGR+1.5%
10Y CAGR+3.6%

Mitek Sys Inc had 45M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
9.3%
YoY+8.0pp
5Y CAGR+0.6pp
10Y CAGR+1.9pp

Mitek Sys Inc's operating margin was 9.3% in fiscal year 2025, reflecting core business profitability. This is up 8.0 percentage points from the prior year.

Net Margin
4.9%
YoY+3.0pp
5Y CAGR-2.8pp
10Y CAGR-5.1pp

Mitek Sys Inc's net profit margin was 4.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.0 percentage points from the prior year.

Return on Equity
3.7%
YoY+2.1pp
5Y CAGR-2.3pp
10Y CAGR-4.6pp

Mitek Sys Inc's ROE was 3.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.1 percentage points from the prior year.

Capital Allocation

R&D Spending
$35.3M
YoY+1.9%
5Y CAGR+9.1%
10Y CAGR+20.3%

Mitek Sys Inc invested $35.3M in research and development in fiscal year 2025. This represents an increase of 1.9% from the prior year.

Share Buybacks
$4.7M
YoY-80.4%
5Y CAGR+36.4%

Mitek Sys Inc spent $4.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 80.4% from the prior year.

Capital Expenditures
$1.2M
YoY-19.7%
5Y CAGR+7.5%
10Y CAGR+31.8%

Mitek Sys Inc invested $1.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 19.7% from the prior year.

MITK Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $44.2M-1.2% $44.8M-2.1% $45.7M-11.9% $51.9M+39.4% $37.3M-13.8% $43.2M-3.9% $45.0M-4.2% $47.0M
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses $7.4M-10.5% $8.2M-8.1% $9.0M-8.3% $9.8M+17.3% $8.3M+37.0% $6.1M-39.2% $10.0M+2.8% $9.7M
SG&A Expenses $11.1M-0.1% $11.1M-1.5% $11.3M+11.4% $10.1M-15.1% $11.9M+20.1% $9.9M-21.4% $12.6M-15.7% $14.9M
Operating Income $5.4M+16.0% $4.7M+23.1% $3.8M-66.5% $11.4M+469.7% -$3.1M-139.8% $7.7M+951.1% $734K+5.2% $698K
Interest Expense $2.5M+1.5% $2.5M+1.5% $2.5M+2.6% $2.4M+0.4% $2.4M+1.4% $2.4M+1.5% $2.3M+1.1% $2.3M
Income Tax $1.6M+12.5% $1.4M+92.9% $749K-18.2% $916K+408.4% -$297K+78.3% -$1.4M-265.6% -$375K+46.2% -$697K
Net Income $2.8M+49.0% $1.9M-22.4% $2.4M-73.8% $9.2M+298.4% -$4.6M-153.8% $8.6M+3869.0% $216K-23.4% $282K
EPS (Diluted) $0.06 N/A $0.05-75.0% $0.20+300.0% $-0.10 N/A $0.00-100.0% $0.01

MITK Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $446.5M-2.8% $459.1M+2.8% $446.7M+5.0% $425.3M+7.4% $396.0M-4.3% $413.8M+1.1% $409.2M-1.9% $417.0M
Current Assets $239.1M-3.8% $248.5M+10.0% $225.9M+10.8% $203.9M+15.3% $176.8M-4.4% $185.1M-5.4% $195.7M-2.9% $201.6M
Cash & Equivalents $175.1M+13.6% $154.2M+21.3% $127.1M+21.4% $104.7M+15.5% $90.6M-3.0% $93.5M+10.8% $84.4M+4.2% $80.9M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $31.9M-13.2% $36.8M-8.4% $40.2M-19.3% $49.9M+54.1% $32.3M+2.1% $31.7M-23.9% $41.6M-20.1% $52.1M
Goodwill $133.4M0.0% $133.5M-0.9% $134.7M+5.2% $128.1M+2.5% $124.9M-5.1% $131.6M+4.2% $126.3M-0.1% $126.4M
Total Liabilities $212.8M-2.8% $218.9M+4.7% $209.1M+1.9% $205.1M+5.2% $195.0M-2.0% $199.0M-0.3% $199.6M-0.6% $200.9M
Current Liabilities $203.1M-2.8% $209.0M+5.1% $198.8M+1.7% $195.6M+407.3% $38.5M-8.5% $42.1M-4.0% $43.9M-7.1% $47.3M
Long-Term Debt $4.8M+10.2% $4.3M N/A N/A N/A $2.7M N/A N/A
Total Equity $233.7M-2.7% $240.3M+1.1% $237.6M+7.9% $220.2M+9.6% $200.9M-6.5% $214.8M+2.5% $209.6M-3.0% $216.1M
Retained Earnings -$33.4M-27.6% -$26.2M+1.4% -$26.6M+8.3% -$29.0M+24.0% -$38.1M-26.0% -$30.3M-22.8% -$24.6M-66.3% -$14.8M

MITK Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $8.0M-58.8% $19.5M-9.8% $21.6M+57.0% $13.7M+2332.4% $565K-97.3% $21.1M+62.5% $13.0M+83.8% $7.1M
Capital Expenditures $1.4M+450.6% $259K-21.3% $329K+41.8% $232K-30.7% $335K+18.4% $283K-34.3% $431K-10.8% $483K
Free Cash Flow $6.6M-65.7% $19.2M-9.6% $21.2M+57.2% $13.5M+5774.3% $230K-98.9% $20.8M+65.8% $12.6M+90.8% $6.6M
Investing Cash Flow $24.4M+305.4% $6.0M+1029.5% -$648K-70.5% -$380K-145.2% $840K-8.1% $914K+104.0% $448K-95.3% $9.5M
Financing Cash Flow -$11.5M-1021.6% $1.2M+62550.0% -$2K-105.6% $36K+101.2% -$3.1M+76.0% -$13.0M-32.0% -$9.9M-10055.6% $99K
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $10.0M+575.8% $1.5M+147800.0% $1K0.0% $1K-100.0% $3.3M-77.0% $14.1M+40.8% $10.0M $0

MITK Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin 12.3%+1.8pp 10.5%+2.1pp 8.3%-13.6pp 21.9%+30.1pp -8.3%-26.1pp 17.8%+16.2pp 1.6%+0.1pp 1.5%
Net Margin 6.3%+2.1pp 4.2%-1.1pp 5.2%-12.4pp 17.6%+30.0pp -12.4%-32.2pp 19.8%+19.4pp 0.5%-0.1pp 0.6%
Return on Equity 1.2%+0.4pp 0.8%-0.2pp 1.0%-3.1pp 4.2%+6.5pp -2.3%-6.3pp 4.0%+3.9pp 0.1%-0.0pp 0.1%
Return on Assets 0.6%+0.2pp 0.4%-0.1pp 0.5%-1.6pp 2.1%+3.3pp -1.2%-3.2pp 2.1%+2.0pp 0.1%-0.0pp 0.1%
Current Ratio 1.18-0.0 1.19+0.1 1.14+0.1 1.04-3.5 4.59+0.2 4.39-0.1 4.46+0.2 4.27
Debt-to-Equity 0.020.0 0.02-0.9 0.88-0.1 0.93-0.0 0.97+1.0 0.01-0.9 0.95+0.0 0.93
FCF Margin 14.9%-28.0pp 42.9%-3.6pp 46.5%+20.4pp 26.0%+25.4pp 0.6%-47.6pp 48.2%+20.3pp 27.9%+13.9pp 14.0%

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Frequently Asked Questions

Mitek Sys Inc (MITK) reported $179.7M in total revenue for fiscal year 2025. This represents a 4.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Mitek Sys Inc (MITK) revenue grew by 4.4% year-over-year, from $172.1M to $179.7M in fiscal year 2025.

Yes, Mitek Sys Inc (MITK) reported a net income of $8.8M in fiscal year 2025, with a net profit margin of 4.9%.

Mitek Sys Inc (MITK) reported diluted earnings per share of $0.19 for fiscal year 2025. This represents a 171.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Mitek Sys Inc (MITK) had EBITDA of $18.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Mitek Sys Inc (MITK) had $154.2M in cash and equivalents against $4.3M in long-term debt.

Mitek Sys Inc (MITK) had an operating margin of 9.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Mitek Sys Inc (MITK) had a net profit margin of 4.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Mitek Sys Inc (MITK) has a return on equity of 3.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Mitek Sys Inc (MITK) generated $54.2M in free cash flow during fiscal year 2025. This represents a 79.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Mitek Sys Inc (MITK) generated $55.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Mitek Sys Inc (MITK) had $459.1M in total assets as of fiscal year 2025, including both current and long-term assets.

Mitek Sys Inc (MITK) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Mitek Sys Inc (MITK) invested $35.3M in research and development during fiscal year 2025.

Yes, Mitek Sys Inc (MITK) spent $4.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Mitek Sys Inc (MITK) had 45M shares outstanding as of fiscal year 2025.

Mitek Sys Inc (MITK) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.

Mitek Sys Inc (MITK) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Mitek Sys Inc (MITK) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Mitek Sys Inc (MITK) has an Altman Z-Score of 2.24, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Mitek Sys Inc (MITK) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Mitek Sys Inc (MITK) has an earnings quality ratio of 6.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Mitek Sys Inc (MITK) has an interest coverage ratio of 1.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Mitek Sys Inc (MITK) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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