MITEK SYSTEMS INC (MITK): debt financing — Mitek Q2 revenue $51.9M (+11% YoY), record; raises FY2025 adj. EBITDA margin guidance to 26%-29%

MITEK SYSTEMS INC

2025-Q2 EPS reported $0.10 vs consensus $0.19 ▼ miss (-47.9%)

Revenue $51.9M (+11% YoY), GAAP net income $9.2M ($0.20 diluted EPS) vs $0.3M a year ago.
Adjusted EBITDA $20.2M (38.8% margin) vs $13.3M (28.2%) a year ago.
SaaS revenue growth 15% YoY; non-GAAP gross margin 87.7%.
Raised fiscal 2025 adj. EBITDA margin guidance to 26%-29% (up 100 bps); revenue guidance $170M-$180M.
New $75M term loan with Silicon Valley Bank to retire 2026 convertible notes; revolver reduced to $25M, matures 2030.

item 1.01 item 2.02 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

MITEK SYSTEMS INC amended credit facility of up to $75,000,000 with Silicon Valley Bank, a division of First Citizens Bank & Trust Company at term SOFR plus a specified margin maturing May 1, 2030.

Instrument: credit facility
Principal: up to $75,000,000
Counterparty: Silicon Valley Bank, a division of First Citizens Bank & Trust Company
Rate: term SOFR plus a specified margin
Maturity: May 1, 2030
Event: amendment

Exact text from the filing

(the “Bank”). The Amendment provides for, among other things, (i) the establishment of a delayed draw term loan (the “Term Loan”) in an aggregate principal amount of up to $75,000,000 that may be drawn prior to February 28, 2026 for the sole purpose of paying amounts outstanding under the 0.75% convertible senior notes due February 1, 2026 and customary fees

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26 debt financings filed in the last 30 days. Browse all debt financings →

MITEK SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000807863-25-000090

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