Business StrategyThe evolution of its ID verification platform from a point solution sale to a broader platform opportunity has received good feedback from customers.
Financial PerformanceMitek reported F2Q25 results with revenue of $51.9M, up 11% year-over-year, and adjusted EBITDA of $20.2M, up 52% year-over-year, beating estimates due to better-than-expected performance in SaaS revenue, the Deposits segment, and expense control.
Product DemandDemand for its core mobile deposit solution continues to trend well, with the percentage of checks deposited over mobile phones continuing to increase.