Mitek Q1 revenue $36.9M (-19% YoY), GAAP loss $0.13/share; reiterates FY guidance

MITEK SYSTEMS INC

2024-Q2 EPS reported -$0.12 revenue$83,885,000

Q1 FY2024 revenue $36.9M vs $45.7M last year; GAAP operating loss $6.9M vs income of $8.4M.
GAAP net loss $5.8M ($0.13 diluted EPS) vs net income $4.7M ($0.10 EPS) a year ago.
Non-GAAP net income $6.3M ($0.14 diluted EPS) vs $14.3M ($0.31) prior year.
Preliminary Q2 FY2024 revenue expected $46M-$47M; full-year revenue guidance reaffirmed at $180M-$185M.
CEO cites $7M one-time mobile deposit reorder in prior year as cause of YoY decline; expects normalized growth of 10-12%.

item 2.02 item 9.01

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 second fiscal quarter ended March 31, 2024 results: revenue $46 million to $47 million. Guidance reaffirmed.

Period: second fiscal quarter ended March 31, 2024
Revenue: $46 million to $47 million
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

Mitek expects fiscal second quarter revenue to be in the range of $46 million to $47 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MITEK SYSTEMS INC reported first quarter ended December 31, 2023 results: revenue $36.9 million, net income $5.8 million, EPS negative $0.13 per diluted share. Guidance reaffirmed.

Period: first quarter ended December 31, 2023
Revenue: $36.9 million
Net income: $5.8 million
EPS: negative $0.13 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

2024. Mitek also reiterated its previously provided guidance for its 2024 fiscal year ending September 30, 2024. Fiscal 2024 First Quarter Financial Results • Total revenue was $36.9 million, compared to $45.7 million a year ago. • GAAP operating loss was $6.9 million, an operating margin of negative 19%, compared to GAAP operating income of $8.4 million, an

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Source: SEC EDGAR

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