MITK earnings analysis
What we found in MITK's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Increased 6% YoY
- Q2 2026 revenue rose to $54.8 million from $51.9 million in Q2 2025.
- Stable EPS
- Diluted EPS for Q2 2026 was $0.20, unchanged from Q2 2025.
- Growth in SaaS Revenue
- SaaS, maintenance, and other revenue climbed 15% to $28.9 million compared to $25.2 million a year ago.
- Reduction in Interest Expense
- Interest expenses dropped by 40% to $1.5 million from $2.4 million a year earlier.
- 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.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Significant Cash Decrease
- Cash and cash equivalents decreased by 61% to $77.6 million from $196.5 million as of September 30, 2025.
- Higher General and Administrative Costs
- G&A expenses increased by 21% to $12.2 million compared to $10.1 million in Q2 2025.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.2
- Segment
- Software license revenue: $25.95 million
- Segment
- SaaS revenue: $28.89 million
What they said about what is next.
Full-year revenue guidance revised to $189 million to $198 million, indicating an expected growth of approximately 8%.
The filing reads about the same as the one before it.
What came before.
- 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…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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