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.

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