secwatch.observer — SEC 8-K summary
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Issuer:     MITEK SYSTEMS INC (MITK)
CIK:        0000807863
Form:       8-K
Filed at:   2024-03-19T23:59:59+00:00
Accession:  0000807863-24-000033
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mitek reports record FY2023 revenue of $172.6M (+19% YoY); Q4 revenue down 5%
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- FY2023 GAAP net income $8.0M ($0.17/diluted) vs $3.7M in FY2022; non-GAAP EPS $0.95.
- Q4 2023 revenue $37.7M (-5% YoY), GAAP operating loss $3.3M vs income $3.8M year ago.
- Deposit revenue up 20%, Identity revenue up 17% YoY in FY2023; net revenue retention ~117%.
- Reiterates FY2024 revenue guidance $180M-$185M (midpoint growth ~6% or ~12% ex one-time).
- Cash and investments $134.9M at Sept 30, 2023, up 34%; operating cash flow $31.6M (+50%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/807863/000080786324000033/0000807863-24-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/807863/000080786324000033/mitk-20240319.htm
  HTML page:      https://secwatch.observer/filing/0000807863-24-000033

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