Mitek Systems reports Q3 EPS 22c, consensus 19c

Reports Q3 revenue $45.7M, consensus $43.68M. The company said, “Mitek delivered a solid third quarter, with SaaS revenue growth accelerating to 23% year over year, clear evidence of growing demand for our identity and fraud solutions. Our core Deposits software products continue to provide stability on a longer term trended basis, supported by resilient transaction volumes and strong free cash flow generation. We’re executing on what we said we would do: shifting to SaaS, streamlining our operations internally, and aligning our product investments and go-to-market strategy around a unified, integrated platform. While there’s still more to do, we’re making steady progress and laying the groundwork for durable, profitable growth.”