earnings
confidence high
sentiment neutral
materiality 0.70
Mitek Q3 revenue $45M (+4% YoY), Identity underperforms; FY2024 guidance lowered
MITEK SYSTEMS INC
2024-Q3 EPS reported
-$0.11
revenue$128,861,000
- Total revenue $45.0M (+4% YoY); GAAP net income $0.2M ($0.00 diluted EPS) vs loss year ago.
- Non-GAAP net income $12.0M ($0.25 diluted EPS) up 27% from $9.5M ($0.20) YoY.
- Identity product revenue disappointed; Deposits segment led growth.
- Full-year FY2024 revenue guidance revised to $169M-$173M, down ~1% at midpoint year-over-year.
- Company repurchased 819,623 shares at avg $12.25 for $10M; cash and investments $133.2M.