Mitek preliminary FY2023 revenue $171.9M (+19% YoY); delays 10-K, faces Nasdaq delist risk

MITEK SYSTEMS INC

Preliminary FY2023 revenue $171.9M (+19% YoY); GAAP net income $7.8M ($0.17/diluted); non-GAAP net income $43.8M ($0.94/diluted).
Net revenue retention >115%; Deposits +21%, Identity +18% YoY. Cash & investments $134.9M.
FY2024 guidance: revenue $180-185M; non-GAAP op margin 30-31%; Identity targeted at breakeven by end FY2024.
Large multi-year mobile deposit reorder booked ~$7M future license revenue in FY2023, distorting base.
10-K expected delinquent; Nasdaq likely to send delist letter; company will request hearing.

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 full fiscal year ended September 30, 2023 results: revenue $171.9 million, net income $7.8 million, or $0.17 per diluted share. Guidance initiated.

Period: full fiscal year ended September 30, 2023
Revenue: $171.9 million
Net income: $7.8 million, or $0.17 per diluted share
Guidance: initiated
Result: preliminary results

Exact text from the filing

and provides guidance for its 2024 fiscal year ending September 30, 2024. Preliminary Fiscal 2023 Full-Year Financial Highlights • Total revenue increased 19% year over year to $171.9 million. • GAAP net income was $7.8 million, or $0.17 per diluted share. • Non-GAAP net income was $43.8 million, or $0.94 per diluted share. • Cash flow from operations was $31.4

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MITEK SYSTEMS INC filing history →

Source: SEC EDGAR

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