Mitek Sys Inc Financials
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).
Cash conversion is the dominant mechanic here, with overhead swings and liability timing shaping reported earnings and liquidity.
Operating margin rebounded from1.3% to9.3% while revenue was roughly flat, pointing to cost discipline in overhead rather than a volume-driven lift. Cash conversion strengthened at the same time: operating cash flow reached$55.3M against net income of$8.8M , so the earnings line understated how much cash the model actually produced.
Free cash flow of
Liquidity optics worsened even as the company became more cash-rich: cash climbed to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Mitek Sys Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
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 37/100, indicating healthy but not exceptional operating efficiency. This is up from 1.3% the prior year.
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 37/100.
Mitek Sys Inc carries a low D/E ratio of 0.00, meaning only $0.00 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.
Mitek Sys Inc's current ratio of 1.19 is below the typical benchmark, resulting in a score of 19/100. However, the company holds substantial cash reserves (74% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
Mitek Sys Inc converts 30.1% of revenue into free cash flow ($54.2M). This strong cash generation earns a score of 85/100.
Mitek Sys Inc generates a 3.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is up from 1.5% the prior year.
Mitek Sys Inc scores 2.44, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($693.6M) relative to total liabilities ($218.9M). This signals moderate financial risk that warrants monitoring.
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.
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.
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
Earnings & Revenue
Mitek Sys Inc generated $179.7M in revenue in fiscal year 2025. This represents an increase of 4.4% from the prior year.
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.
Mitek Sys Inc reported $8.8M in net income in fiscal year 2025. This represents an increase of 168.3% from the prior year.
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
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.
Mitek Sys Inc held $154.2M in cash against $0 in long-term debt as of fiscal year 2025.
Mitek Sys Inc had 46M shares outstanding in fiscal year 2025. This represents an increase of 1.4% from the prior year.
Margins & Returns
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.
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.
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
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.
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.
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 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $54.8M+24.0% | $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 |
| 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 | $7.6M+2.6% | $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 |
| SG&A Expenses | $12.2M+10.6% | $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 |
| Operating Income | $13.5M+149.1% | $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 |
| Interest Expense | $1.4M-43.0% | $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 |
| Income Tax | $3.2M+96.8% | $1.6M+12.5% | $1.4M+92.9% | $749K-18.2% | $916K+408.4% | -$297K+78.3% | -$1.4M-265.6% | -$375K |
| Net Income | $9.5M+244.0% | $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 |
| EPS (Diluted) | $0.20+233.3% | $0.06 | N/A | $0.05-75.0% | $0.20+300.0% | $-0.10 | N/A | $0.00 |
MITK Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $356.9M-20.1% | $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 |
| Current Assets | $156.5M-34.5% | $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 |
| Cash & Equivalents | $69.2M-60.5% | $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 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $63.3M+98.2% | $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 |
| Goodwill | $131.4M-1.5% | $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 |
| Total Liabilities | $117.5M-44.8% | $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 |
| Current Liabilities | $59.9M-70.5% | $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 |
| Long-Term Debt | $47.5M+894.3% | $4.8M | $0 | N/A | N/A | N/A | $2.7M | N/A |
| Total Equity | $239.5M+2.5% | $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 |
| Retained Earnings | -$31.7M+5.2% | -$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 |
MITK Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$945K-111.8% | $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 |
| Capital Expenditures | $1.6M+8.8% | $1.4M+450.6% | $259K-21.3% | $329K+41.8% | $232K-30.7% | $335K+18.4% | $283K-34.3% | $431K |
| Free Cash Flow | -$2.5M-137.9% | $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 |
| Investing Cash Flow | $6.7M-72.4% | $24.4M+305.4% | $6.0M+1029.5% | -$648K-70.5% | -$380K-145.2% | $840K-8.1% | $914K+104.0% | $448K |
| Financing Cash Flow | -$111.1M-865.2% | -$11.5M-1021.6% | $1.2M+62550.0% | -$2K-105.6% | $36K+101.2% | -$3.1M+76.0% | -$13.0M-32.0% | -$9.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $7.8M-22.0% | $10.0M+575.8% | $1.5M+147800.0% | $1K0.0% | $1K-100.0% | $3.3M-77.0% | $14.1M+40.8% | $10.0M |
MITK Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 24.7%+12.4pp | 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% |
| Net Margin | 17.4%+11.1pp | 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% |
| Return on Equity | 4.0%+2.8pp | 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% |
| Return on Assets | 2.7%+2.1pp | 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% |
| Current Ratio | 2.61+1.4 | 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 |
| Debt-to-Equity | 0.20+0.2 | 0.02+0.0 | 0.00-0.9 | 0.88-0.1 | 0.93-0.0 | 0.97+1.0 | 0.01-0.9 | 0.95 |
| FCF Margin | -4.5%-19.4pp | 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% |
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Frequently Asked Questions
What is Mitek Sys Inc's annual revenue?
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.
How fast is Mitek Sys Inc's revenue growing?
Mitek Sys Inc (MITK) revenue grew by 4.4% year-over-year, from $172.1M to $179.7M in fiscal year 2025.
Is Mitek Sys Inc profitable?
Yes, Mitek Sys Inc (MITK) reported a net income of $8.8M in fiscal year 2025, with a net profit margin of 4.9%.
What is Mitek Sys Inc's EBITDA?
Mitek Sys Inc (MITK) had EBITDA of $18.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mitek Sys Inc have?
As of fiscal year 2025, Mitek Sys Inc (MITK) had $154.2M in cash and equivalents against $0 in long-term debt.
What is Mitek Sys Inc's operating margin?
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.
What is Mitek Sys Inc's net profit margin?
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.
What is Mitek Sys Inc's return on equity (ROE)?
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.
What is Mitek Sys Inc's free cash flow?
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.
What is Mitek Sys Inc's operating cash flow?
Mitek Sys Inc (MITK) generated $55.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mitek Sys Inc's total assets?
Mitek Sys Inc (MITK) had $459.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mitek Sys Inc's capital expenditures?
Mitek Sys Inc (MITK) invested $1.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mitek Sys Inc spend on research and development?
Mitek Sys Inc (MITK) invested $35.3M in research and development during fiscal year 2025.
What is Mitek Sys Inc's current ratio?
Mitek Sys Inc (MITK) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.
What is Mitek Sys Inc's debt-to-equity ratio?
Mitek Sys Inc (MITK) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mitek Sys Inc's return on assets (ROA)?
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.
What is Mitek Sys Inc's Altman Z-Score?
Mitek Sys Inc (MITK) has an Altman Z-Score of 2.44, 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.
What is Mitek Sys Inc's Piotroski F-Score?
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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mitek Sys Inc's earnings high quality?
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.
Can Mitek Sys Inc cover its interest payments?
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.
How financially healthy is Mitek Sys Inc?
Mitek Sys Inc (MITK) scores 49 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.