Strong SaaS Revenue Growth
SaaS revenue growth accelerated to 21% in fiscal 2025, up from mid-single digits in fiscal 2024, with SaaS now comprising 43% of total revenue.
Fraud and Identity Segment Expansion
Fraud and Identity revenue grew more than 15% year-over-year, now accounting for over half of Mitek’s total business.
Check Fraud Defender Progress
ACV grew 50% year-over-year, with data sets covering over 25% of all U.S. checking accounts, and nearly 50% including those in pilot phase.
Operational Efficiency Improvements
Adjusted EBITDA margins reached 30%, with a reduction in non-GAAP operating expenses and an 11% increase in revenue per employee.
Free Cash Flow Conversion
Achieved 100% free cash flow conversion of adjusted EBITDA, a significant increase from just under 65% the previous year.