Mitek affirms 2025 revenue outlook $170M-$180M. consensus $175.51M

Mitek is raising its fiscal 2025 adjusted EBITDA margin guidance range by 100 basis points, resulting in a new guidance range of 26%-29%. Mitek also announced an amendment to its existing credit facility with Silicon Valley Bank, a division of First Citizens Bank & Trust Company, to provide for a new $75M term loan and a revised $25M revolving line of credit. Mitek intends to utilize up to $75M of the term loan, along with company cash, to retire the company’s outstanding Convertible Notes on or before their maturity date of February 1, 2026.