Mitek Systems (MITK)
NASDAQ:MITK
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Earnings Data
Report Date
Jul 23, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
0.28Last Year’s EPS
0.22Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed materially positive operational and financial momentum: record revenue and adjusted EBITDA, robust 28% growth in the strategic Fraud & Identity portfolio, improving SaaS mix, strengthened balance sheet (retired convertible notes, net cash position) and raised FY guidance. Headwinds are present but manageable — check verification seasonality and renewal timing, YoY gross margin compression due to mix and implementation costs, quarter-specific negative free cash flow from AR timing, and lumpy biometric license recognition. On balance, the positives (durable cash franchise, strong SaaS/network growth, margin leverage, and upgraded guidance) outweigh the near-term, largely timing-related challenges.Company Guidance
Record Revenue and Adjusted EBITDA
Total revenue of $54.8M, up 6% year-over-year, and record adjusted EBITDA of $22.3M (approx. 41% margin), up 10% year-over-year. Non-GAAP net income was $18.5M and adjusted diluted EPS was $0.38.
Strong Fraud & Identity Growth
Fraud & Identity revenue grew 28% year-over-year, driven by SaaS adoption, higher-value workflows and meaningful biometric license activity; company raised full-year Fraud & Identity revenue outlook to $103M–$108M (≈17% growth at midpoint).
SaaS Mix Improvement and Network Effects
Total SaaS revenue grew 18% year-over-year and now represents ~44% of last-12-month revenue (up from 40% a year ago). Check Fraud Defender (CFD) ACV exceeds $19M (up >50% YoY), with contributing datasets covering >60% of U.S. checking accounts and annualized volumes in the billions—strengthening proprietary network signals and expansion opportunities.
Improved Profitability, Raised Guidance and Capital Returns
Raised full-year revenue guidance to $189M–$198M (≈8% growth at midpoint) and raised FY adjusted EBITDA margin guidance to 30%–33%. Ended quarter with $78M in cash/investments and a net cash position of $23.1M after retiring convertible notes; returned $8M via share repurchases and announced a $50M repurchase program.
Durable, Cash-Generative Check Verification Franchise
Check verification revenue of $29.1M for the quarter and trailing-12-month check verification revenue of $88.2M, with multiple renewals and integrations across processors and FIs (e.g., FIS, Jack Henry), providing deep FI ecosystem connectivity and expansion into adjacent fraud use cases.
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 |
|---|---|---|---|
May 07, 2026 | $15.36 | $15.61 | +1.63% |
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% |
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 (MITK) report earnings?
Mitek Systems (MITK) is schdueled to report earning on Jul 23, 2026, After Close (Confirmed).
What is Mitek Systems (MITK) earnings time?
Mitek Systems (MITK) earnings time is at Jul 23, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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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 (Q3) is 0.28.