10-Q · February 5, 2026
Mitek Systems reported a strong fiscal Q1 2026 with revenues of $44.2 million, exceeding expectations and up 19% year-over-year, driven by increases in both software license and SaaS revenues. The company achieved a net…
Earnings analysis · 10-Q
MITK earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Mitek Systems, Inc. reported Q2 2026 results with revenues of $54.8 million, marking a 6% increase from $51.9 million in Q2 2025. EPS stood at $0.20, unchanged from the prior year, while the company had a decrease in…
Read full summary
Mitek Systems, Inc. reported Q2 2026 results with revenues of $54.8 million, marking a 6% increase from $51.9 million in Q2 2025. EPS stood at $0.20, unchanged from the prior year, while the company had a decrease in cash and an uptick in general and administrative expenses.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.2
What stood out
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Revenue Increased 6% YoY
Q2 2026 revenue rose to $54.8 million from $51.9 million in Q2 2025.
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Stable EPS
Diluted EPS for Q2 2026 was $0.20, unchanged from Q2 2025.
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Growth in SaaS Revenue
SaaS, maintenance, and other revenue climbed 15% to $28.9 million compared to $25.2 million a year ago.
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Reduction in Interest Expense
Interest expenses dropped by 40% to $1.5 million from $2.4 million a year earlier.
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Working Capital Improvement
Working capital increased to $96.6 million as of March 31, 2026, significantly up from $39.5 million at September 30, 2025.
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Cash Flow Dynamics
Operating cash flow for the six months ended March 31, 2026 was $7.1 million, down from $14.3 million a year ago.
What to watch
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Significant Cash Decrease
Cash and cash equivalents decreased by 61% to $77.6 million from $196.5 million as of September 30, 2025.
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Higher General and Administrative Costs
G&A expenses increased by 21% to $12.2 million compared to $10.1 million in Q2 2025.
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Reduced Operating Cash Flow
Operating cash flow fell to $7.1 million in the six months ended March 31, 2026, down $7.2 million year-over-year.
Management's outlook
Full-year revenue guidance revised to $189 million to $198 million, indicating an expected growth of approximately 8%.
Earlier filings 4
10-K · December 11, 2025
Mitek Systems, Inc. reported its annual results for the fiscal year ending September 30, 2025, showing total revenues of $179.7 million, representing a 4% year-over-year increase. The company has shifted its focus…
10-Q · August 7, 2025
Mitek Systems reported Q3 FY2025 results highlighting a modest revenue increase of 2% year-over-year to $45.7 million, alongside a strong earnings surprise with EPS reaching $0.05 compared to $0.00 a year ago. Key…
10-Q · May 8, 2025
Mitek's Q2 2025 results reflect continued growth with revenue rising 11% year-over-year to $51.9 million, driven by increased sales in services and other products. Net income surged to $9.2 million, or $0.20 per diluted…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.