Mitek Q3 revenue up 10% to $43.1M; GAAP EPS -$0.01, non-GAAP EPS $0.20; reiterates FY23 guidance

MITEK SYSTEMS INC

2023-FY EPS reported $0.17 revenue$172,552,000

Total revenue $43.1M (+10% YoY); GAAP net loss $0.4M (-$0.01/diluted share); non-GAAP net income $9.5M ($0.20/diluted share).
First nine months revenue $134.9M (+28% YoY); GAAP net income $9.5M ($0.20/share); non-GAAP net income $37.4M ($0.81/share).
FY23 guidance reaffirmed: revenue $169-171M (~18% YoY growth); non-GAAP operating margin 30-31%.
Net revenue retention >120% trailing twelve months; Identity profitability expected by end of FY2024.
Executive Chair Scott Carter to resign as executive effective Dec 1, 2023, remains as Chair; cites progress on filings and strategy.

item 2.02 item 5.02 item 9.01

Executive movements

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Role change

Scott Carter

Executive Chair of the Board

MITK · MITEK SYSTEMS INC

Effective: 2023-12-01
Filed: October 26, 2023, 7:59 PM ET

On October 24, 2023, Scott Carter, the Executive Chair of the Board of Directors, notified the Board of Directors of the Company (the “Board”) of his intention to resign from his role as an executive of the Company but to remain as the Chair of the Board effective as of December 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MITEK SYSTEMS INC updated its fiscal 2023 guidance for the year ending September 30, 2023 guidance (reaffirmed).

Period: fiscal 2023 guidance for the year ending September 30, 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Mitek is reiterating its fiscal 2023 guidance for the year ending September 30, 2023, expecting revenue to be in the range of $169.0 million to $171.0 million, an increase of approximately 18% year over year from the mid-point of the guidance range.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MITEK SYSTEMS INC reported third quarter ended June 30, 2023 results: revenue $43.1 million, net income GAAP net loss was $0.4 million, or $0.01 per diluted share., EPS $0.01 per diluted share. Guidance reaffirmed.

Period: third quarter ended June 30, 2023
Revenue: $43.1 million
Net income: GAAP net loss was $0.4 million, or $0.01 per diluted share.
EPS: $0.01 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

financial results for its third quarter of fiscal 2023 ended June 30, 2023. Fiscal 2023 Third Quarter Financial Highlights • Total revenue increased 10% year over year to $43.1 million in a record third quarter. • GAAP net loss was $0.4 million, or $0.01 per diluted share. • Non-GAAP net income was $9.5 million, or $0.20 per diluted share. • Cash flow from

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MITEK SYSTEMS INC reported first nine months of fiscal 2023 results: revenue $134.9 million, net income GAAP net income was $9.5 million, or $0.20 per diluted share., EPS $0.20 per diluted share.

Period: first nine months of fiscal 2023
Revenue: $134.9 million
Net income: GAAP net income was $9.5 million, or $0.20 per diluted share.
EPS: $0.20 per diluted share
Result: reported results

Exact text from the filing

Fiscal 2023 First Nine Months Financial Highlights • Total revenue increased 28% year over year to $134.9 million. • GAAP net income was $9.5 million, or $0.20 per diluted share.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Scott Carter resigned as Executive Chair of the Board at MITEK SYSTEMS INC.

Action: resigned
Role: Executive Chair of the Board

Exact text from the filing

On October 24, 2023, Scott Carter, the Executive Chair of the Board of Directors, notified the Board of Directors of the Company (the “Board”) of his intention to resign from his role as an executive of the Company but to remain as the Chair of the Board effective as of December 1, 2023.

View on SEC.gov

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

MITEK SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000807863-23-000113

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