MITEK SYSTEMS INC (MITK): Nasdaq/NYSE listing notice — Mitek gets Nasdaq delisting notice for late 10-K and 10-Qs; reiterates guidance

MITEK SYSTEMS INC

Received Nasdaq delisting determination for failing to file FY2022 10-K and Q1/Q2 FY2023 10-Qs by June 12, 2023 deadline.
Will request a hearing by June 20, 2023 to stay delisting; hearing typically 30-45 days later; no guarantee of extension.
Reiterates FY2022 revenue estimate $143-144M (+19-20% YoY) and non-GAAP operating margin 29-30%.
Guides FY2023 revenue $162-165M (+~14% YoY) and non-GAAP operating margin 29.5-30.5%.
Cash and equivalents $114.5M as of Mar 31, 2023, up 26% from $90.6M in June 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MITEK SYSTEMS INC reported year ending September 30, 2023 results: revenue $162.0 million to $165.0 million. Guidance initiated.

Period: year ending September 30, 2023
Revenue: $162.0 million to $165.0 million
Guidance: initiated
Result: guidance update

Exact text from the filing

Mitek expects revenue for the year ending September 30, 2023 to be in the range of $162.0 million to $165.0 million, an increase of approximately 14% year over year from the mid-point of the guidance range.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MITEK SYSTEMS INC reported year ended September 30, 2022 results: revenue $143.0 million to $144.0 million.

Period: year ended September 30, 2022
Revenue: $143.0 million to $144.0 million
Result: preliminary results

Exact text from the filing

Mitek is reiterating its previously provided estimates that revenue for the year ended September 30, 2022 will be in the range of $143.0 million to $144.0 million, an increase of between 19-20% compared to revenue of $119.8 million in the prior year ended September 30, 2021.

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

MITEK SYSTEMS INC received a nasdaq delisting notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

June 13, 2023, the Company received a Staff Delisting Determination (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the Nasdaq Listing Qualifications Department (the “Staff”) has initiated a process to delist the Company’s securities from Nasdaq as a result of the Company’s not being in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the “SEC”). The Company had prev

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

MITEK SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000807863-23-000038

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