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Mitek Systems Inc (MITK)
NASDAQ:MITK
Earnings Data
Report Date
Apr 23, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.34Last Year’s EPS
0.36Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive picture: strong top-line growth (19% QoQ), outsized growth in the strategic fraud & identity segment (30% YoY), expanding SaaS mix, materially improved adjusted EBITDA (+69% YoY) and EPS (~80% YoY), solid free cash flow and balance sheet simplification, and an increased FY revenue and margin outlook. Near-term margin pressure (gross margin down ~280 bps) and timing/convertibility risks from pilots and license renewals are notable but described as transitional by management. Management has taken decisive balance-sheet and capital allocation actions (retiring convertible notes, new $50M buyback) and is investing to scale the platform. Overall, the positive operational and financial momentum outweighs the headline lowlights.Company Guidance
Strong Revenue Growth
Total revenue of $44.2M in fiscal Q1 2026, up 19% year-over-year; updated FY2026 revenue guidance raised to $187M–$197M (from $185M–$195M). Q2 revenue guided to $50M–$55M.
Fraud & Identity Momentum
Fraud and identity revenue of $25.5M, up 30% year-over-year ($+5.9M). Fraud & identity annual guidance raised to $102M–$107M, reflecting continued transaction volume momentum and platform adoption.
SaaS Mix Expansion
SaaS revenue grew 21% year-over-year and represents 43% of last twelve months' revenue; fraud & identity SaaS grew 21% year-over-year, contributing materially to recurring revenue mix.
Check Verification Durability
Check verification remains a stable, cash-generative foundation: Q1 revenue $18.8M, up 6% year-over-year; last-twelve-month check revenue ~ $91M (stable YoY); annualized run rate ~1.2 billion mobile deposit transactions.
Check Fraud Defender Traction
Check Fraud Defender (CFD) annualized contract value ~ $17M, up 44% year-over-year; consortium data now covers >50% of U.S. checking accounts (production + pilots), generating billions of transactions annually and reinforcing network effects.
Improved Profitability and EPS
Adjusted EBITDA of $13.3M, up 69% year-over-year, with adjusted EBITDA margin of 30% (improvement of ~900 basis points YoY). Non-GAAP net income $12.4M and adjusted EPS $0.26, ~80% growth YoY.
Strong Free Cash Flow & Balance Sheet Actions
Q1 free cash flow $6.6M and LTM free cash flow $60.5M, representing 102% conversion of LTM adjusted EBITDA (vs 83% prior year). Ended quarter with $192M cash & investments, ~$159M total debt (net cash ~$33M). Retired $155M convertible senior notes, drew $50M term loan, extended debt maturity to 2030.
Capital Return and Capital Allocation
Authorized a new $50M share repurchase program after repurchasing ~$17M under prior authorization; reiterated disciplined capital allocation prioritizing high-ROI investments, balance sheet resilience, and shareholder returns.
Operating Leverage and Expense Discipline
Total non-GAAP operating expense improved 3% YoY and fell to ~52% of revenue (improvement of ~1,200 basis points). Sales & marketing, R&D, and G&A each improved as a percent of revenue (S&M down to 18%, R&D 17%, G&A 17%), reflecting better operating leverage and increased capitalization of development.
MITK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MITK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | $9.82 | $11.83 | +20.47% |
Nov 06, 2025 | $9.23 | $9.13 | -1.08% |
Aug 07, 2025 | $9.13 | $9.94 | +8.82% |
May 08, 2025 | $8.81 | $9.74 | +10.56% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Mitek Systems Inc (MITK) report earnings?
Mitek Systems Inc (MITK) is schdueled to report earning on Apr 23, 2026, After Close (Confirmed).
What is Mitek Systems Inc (MITK) earnings time?
Mitek Systems Inc (MITK) earnings time is at Apr 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MITK EPS forecast?
MITK EPS forecast for the fiscal quarter 2026 (Q2) is 0.34.