Mitek Systems, Inc. develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and browsers to facilitate online user experiences, fraud detection and reduction, and compliant transactions. It offers Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications. The company also provides Mobile Fill, an application to prefill forms with user data by snapping a picture of the driver license or other similar identity documents; Mobile Docs, a mobile document scanning solution; and MiSnap, an image capture technology. In addition, it offers CheckReader that enables financial institutions to automatically extract data from checks; XE, a recurrent neural network engine; and ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents. The company sells its solutions primarily to banks, credit unions, lenders, payments processers, card issuers, fintech companies, and others through direct sales teams and channel partners. Mitek Systems, Inc. was incorporated in 1986 and is based in San Diego, California.
IPO Year:
Exchange: NASDAQ
Website: miteksystems.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/4/2024 | $17.00 → $9.50 | Buy → Hold | Jefferies |
| 12/14/2023 | $17.00 | Buy | Craig Hallum |
| 10/31/2023 | $13.00 | Buy | Jefferies |
| 10/25/2022 | $17.00 → $13.00 | Buy | Jefferies |
| 8/12/2021 | $27.00 | Buy | HC Wainwright & Co. |
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4 - MITEK SYSTEMS INC (0000807863) (Issuer)
4 - MITEK SYSTEMS INC (0000807863) (Issuer)
4 - MITEK SYSTEMS INC (0000807863) (Issuer)
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ID R&D, a Mitek Systems company, (NASDAQ:MITK), has set a new benchmark in the fight against digital identity fraud. The company, participating under the anonymized label "PAD-P9," submitted its advanced liveness detection technology, IDLive® Face, in the U.S. Department of Homeland Security (DHS) Science and Technology Directorate's (S&T) evaluation of remote identity validation systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250218997067/en/ This test was not just another industry exercise, it was a rigorous assessment of technologies designed to safeguard businesses and consumers from fraud attempts like spoofing and i
Raises Lower-End of Adjusted EBITDA Margin Guidance Range for Fiscal 2025 Mitek Systems, Inc. (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company")), a global leader in digital identity verification, mobile capture and fraud management, today reported financial results for its first quarter ended December 31, 2024 and raised the lower end of its Adjusted EBITDA margin guidance range for its fiscal 2025 full year ending September 30, 2025 ("fiscal 2025"). "We delivered a solid first quarter, with results ahead of our expectations in our SaaS products, which grew 29% year over year, offset by year-over-year variances in software license sales," said Ed West, Mitek's CEO. "We are e
In response to the rise in check fraud incidents across the country, CSI, a leading provider of end-to-end financial software and technology, today announced the launch of its proprietary check fraud detection solution for NuPoint® customers. Enabled by Mitek Systems, the solution equips bank tellers with real-time check fraud detection capabilities. Alternative deposit methods completed through all other channels are evaluated collectively overnight. "Our main goal is to protect our customers. By detecting fraud right at the teller line, we can proactively safeguard their assets," said Heather Deneault, assistant vice president and deposit operations and branch management officer at Deni
To be Voted on at the Company's Annual Meeting in March Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture, and fraud management, today announced the nomination of Mark Rossi to its board of directors. Mr. Rossi will also serve as a member of the board's audit committee, pending shareholder approval at the company's upcoming annual meeting. Mr. Rossi brings over four decades of strategic, financial, and operational expertise, having served on the boards of approximately 25 companies, including seven public entities. He is a co-founder of Cornerstone Equity Investors, where he managed a series of Private Equity funds over a period of 25 ye
Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will conduct a conference call on Monday, February 10th at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal first quarter ended December 31, 2024. The financial results will be issued in a press release before the call. Mitek CEO Ed West and CFO Dave Lyle will host the call, followed by a question and answer session. Date: Monday, February 10, 2025 Time: 2:00 p.m. Pacific time (5:00 p.m. Eastern time) Toll-free dial-in number: 844-481-3005 International dial-in number: +1 412-317-1889 Participants
Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will participate in the 27th Annual Needham Growth Conference on January 14th in New York. Ed West, CEO, and Dave Lyle, CFO, will host one-on-one meetings with investors that day. To schedule a meeting with the Company, please contact your representative at Needham or MKR Investor Relations. Mitek (NASDAQ:MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Mitek's advanced identity verification technologies and global platform make digital access faster and more secure than ever, providing companies n
Mitek Systems, Inc. (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company")), a global leader in digital identity verification, mobile capture and fraud management, today reported financial results for its fourth quarter ended September 30, 2024 and provided guidance for its 2025 fiscal year ending September 30, 2025. "We reported a solid quarter of year over year revenue growth, profitability and cash generation driven by our team's hard work and operational focus," stated Mitek CFO, Dave Lyle. "The Mitek team has done a tremendous job in delivering value to our customers while we are focusing on driving efficient revenue growth over the long-term." "Mitek has a rich and deep his
Combatting the rising tide of digital identity fraud fueled by GenAI, Mitek's Digital Fraud Defender equips financial institutions and enterprises with advanced capabilities to detect deepfakes, injection attacks, and template attacks as part of the Mitek Verified Identity Platform® (MiVIP). Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced Digital Fraud Defender (DFD), an advanced, multi-layered solution to safeguard digital identity verification processes against sophisticated AI-enabled fraud tactics. Designed for financial institutions, fintech, online gaming providers, and enterprises requiring re
Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will conduct a conference call on Monday, December 16th, at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal fourth quarter and full year ended September 30, 2024. The financial results will be issued in a press release prior to the call. Mitek CEO Ed West and CFO Dave Lyle will host the call, followed by a question and answer session. Date: Monday, December 16, 2024 Time: 2:00 p.m. Pacific time (5:00 p.m. Eastern time) Toll-free dial-in number: 844-481-3005 International dial-in number: +1 412-31
Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced the appointment of James ("J.D.") Fay to its board of directors. Mr. Fay will also serve as a member of the board's audit committee. Mr. Fay, who currently serves as Chief Financial Officer at Matterport, Inc. (NASDAQ:MTTR), brings over two decades of financial strategy and operational expertise to Mitek, having played a key role in scaling technology companies from early growth stages to IPO and acquisition. "We are thrilled to welcome J.D. to our board and believe his extensive experience in financial strategy and guiding companies through growth and t
Raises Lower-End of Adjusted EBITDA Margin Guidance Range for Fiscal 2025 Mitek Systems, Inc. (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company")), a global leader in digital identity verification, mobile capture and fraud management, today reported financial results for its first quarter ended December 31, 2024 and raised the lower end of its Adjusted EBITDA margin guidance range for its fiscal 2025 full year ending September 30, 2025 ("fiscal 2025"). "We delivered a solid first quarter, with results ahead of our expectations in our SaaS products, which grew 29% year over year, offset by year-over-year variances in software license sales," said Ed West, Mitek's CEO. "We are e
Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will conduct a conference call on Monday, February 10th at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal first quarter ended December 31, 2024. The financial results will be issued in a press release before the call. Mitek CEO Ed West and CFO Dave Lyle will host the call, followed by a question and answer session. Date: Monday, February 10, 2025 Time: 2:00 p.m. Pacific time (5:00 p.m. Eastern time) Toll-free dial-in number: 844-481-3005 International dial-in number: +1 412-317-1889 Participants
Mitek Systems, Inc. (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company")), a global leader in digital identity verification, mobile capture and fraud management, today reported financial results for its fourth quarter ended September 30, 2024 and provided guidance for its 2025 fiscal year ending September 30, 2025. "We reported a solid quarter of year over year revenue growth, profitability and cash generation driven by our team's hard work and operational focus," stated Mitek CFO, Dave Lyle. "The Mitek team has done a tremendous job in delivering value to our customers while we are focusing on driving efficient revenue growth over the long-term." "Mitek has a rich and deep his
Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced that it will conduct a conference call on Monday, December 16th, at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal fourth quarter and full year ended September 30, 2024. The financial results will be issued in a press release prior to the call. Mitek CEO Ed West and CFO Dave Lyle will host the call, followed by a question and answer session. Date: Monday, December 16, 2024 Time: 2:00 p.m. Pacific time (5:00 p.m. Eastern time) Toll-free dial-in number: 844-481-3005 International dial-in number: +1 412-31
Mitek Systems, Inc. (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company"))), a global leader in digital identity and fraud prevention, today reported financial results for its third quarter ended June 30, 2024 and revised its previously provided guidance for its 2024 fiscal year ending September 30, 2024. Fiscal 2024 Third Quarter Financial Highlights Total revenue was $45.0 million, compared to $43.1 million a year ago, or 4% year-over-year growth. GAAP operating income was $0.7 million, an operating margin of 2%, compared to GAAP operating income of $1.8 million, an operating margin of 4% a year ago. GAAP net income was $0.2 million, or $0.00 per diluted share, compared
Mitek (NASDAQ:MITK, www.miteksystems.com))), a global leader in digital identity and digital fraud prevention, today announced that it will conduct a conference call on Thursday, August 8th at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its financial results for the fiscal third quarter ended June 30, 2024. The financial results will be issued in a press release prior to the call. Mitek Interim CEO Scott Carter and CFO Dave Lyle will host the call, followed by a question and answer session. Date: Thursday, August 8, 2024 Time: 2:00 p.m. Pacific time (5:00 p.m. Eastern time) Toll-free dial-in number: 888-999-5318 International dial-in number: +1 848-280-6460 Participants:
Company Announces $50 Million Share Repurchase Plan Mitek Systems, Inc. (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company"))), a global leader in digital identity and fraud prevention, today reported financial results for its second quarter ended March 31, 2024, and reiterated its previously provided guidance for its 2024 fiscal year ending September 30, 2024. Fiscal 2024 Second Quarter Financial Results Total revenue was $47.0 million, compared to $46.1 million a year ago. GAAP operating income was $0.7 million, an operating margin of 1%, compared to GAAP operating income of $8.7 million, an operating margin of 19% a year ago. GAAP net income was $0.3 million, or $0.
Mitek (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company"))), a global leader in digital identity and digital fraud prevention, today announced that it intends to file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024 after the close of the market on Friday, May 10, 2024 and host a conference call and live webcast for analysts and investors on Monday, May 13, 2024, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the Company's financial results for its fiscal 2024 second quarter ended March 31, 2024. The Company will also publish an earnings press release for its fiscal 2024 second quarter on Monday, May 13, 2024 before the earnings call.
Company Reiterates Guidance for Fiscal 2024 Mitek Systems, Inc. (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company"))), a global leader in digital identity and fraud prevention, today reported financial results for its first quarter ended December 31, 2023, and provided select preliminary results for its second quarter ended March 31, 2024. Mitek also reiterated its previously provided guidance for its 2024 fiscal year ending September 30, 2024. Fiscal 2024 First Quarter Financial Results Total revenue was $36.9 million, compared to $45.7 million a year ago. GAAP operating loss was $6.9 million, an operating margin of negative 19%, compared to GAAP operating income of $8.
Mitek (NASDAQ:MITK, www.miteksystems.com))), a global leader in digital identity and digital fraud prevention, today announced that it intends to file its fiscal 2024 first quarter 10-Q report after the close of the market on Monday, April 15, 2024, and host a conference call and live webcast for analysts and investors at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) that day to discuss the company's financial results for its fiscal 2024 first quarter ended December 31, 2023. The company also intends to publish an earnings press release for its fiscal 2024 first quarter after the close of the market on April 15th. To access the live call, dial 1-877-270-2148 (US and Canada) or +1 412-90
Jefferies downgraded Mitek Systems from Buy to Hold and set a new price target of $9.50 from $17.00 previously
Craig Hallum initiated coverage of Mitek Systems with a rating of Buy and set a new price target of $17.00
Jefferies resumed coverage of Mitek Systems with a rating of Buy and set a new price target of $13.00
Jefferies resumed coverage of Mitek Systems with a rating of Buy and set a new price target of $13.00 from $17.00 previously
HC Wainwright & Co. initiated coverage of Mitek Systems with a rating of Buy and set a new price target of $27.00
Jefferies initiated coverage of Mitek Systems with a rating of Buy and set a new price target of $20.00
Maxim Group resumed coverage of Mitek Systems with a rating of Buy and set a new price target of $25.00
Maxim Group initiated coverage of Mitek Systems with a rating of Buy
Maxim Group initiated coverage of Mitek Systems with a rating of Buy and set a new price target of $25
To be Voted on at the Company's Annual Meeting in March Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture, and fraud management, today announced the nomination of Mark Rossi to its board of directors. Mr. Rossi will also serve as a member of the board's audit committee, pending shareholder approval at the company's upcoming annual meeting. Mr. Rossi brings over four decades of strategic, financial, and operational expertise, having served on the boards of approximately 25 companies, including seven public entities. He is a co-founder of Cornerstone Equity Investors, where he managed a series of Private Equity funds over a period of 25 ye
Mitek Systems, Inc. (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced the appointment of James ("J.D.") Fay to its board of directors. Mr. Fay will also serve as a member of the board's audit committee. Mr. Fay, who currently serves as Chief Financial Officer at Matterport, Inc. (NASDAQ:MTTR), brings over two decades of financial strategy and operational expertise to Mitek, having played a key role in scaling technology companies from early growth stages to IPO and acquisition. "We are thrilled to welcome J.D. to our board and believe his extensive experience in financial strategy and guiding companies through growth and t
Mitek Systems, Inc. ("Mitek" or the "Company") (NASDAQ:MITK), a global leader in digital identity verification, mobile capture and fraud management, today announced the appointment of Ed West as Chief Executive Officer and a member of the Board of Directors, effective immediately. Scott Carter, who has served as Interim CEO since June 2024, will serve as non-executive Chairman of the Board of Directors. "We are thrilled to welcome Ed to Mitek Systems," said Scott Carter. "Ed's expertise in driving top-line growth through innovative product development and business model transformation will be invaluable as Mitek enters its next chapter. He brings a proven track record of building fintech p
Scott Carter, Previous Executive Chair of the Board and Current Chairman of the Board, Appointed Interim CEO Search Underway to Identify Permanent CEO Mitek (NASDAQ:MITK, www.miteksystems.com, "Mitek" or the "Company"))), a global leader in digital identity and digital fraud prevention, today announced that the Company's Board of Directors has appointed Scott Carter as Interim CEO, effective June 1, 2024. The Company will terminate the employment of Mitek's current CEO, Max Carnecchia, on May 31, 2024. At the request of the Board, Mr. Carnecchia will remain a member of the Board of Directors and be available to assist with the CEO transition process. The Board has engaged the services
ID R&D, a Mitek Systems company, and the leading provider of AI-driven biometric solutions, proudly announced the appointment of Peter Martis as Vice President of Growth. Respected as a thought leader in biometric technology and renowned for his strategic foresight and transformative leadership, Martis brings a wealth of expertise to this new role and is prepared to launch the company's growth trajectory in both go-to-market and product strategies. In his new role, Peter will be responsible for overseeing the strategic initiatives aimed at expanding market presence and enhancing product offerings. This entails spearheading the creation of innovative products, capabilities, and processes t
Seasoned Technology and Financial Operations Leader Joins Mitek's Executive Team Mitek Systems, Inc. (NASDAQ:MITK, Mitek or the Company))), a global leader in digital identity and fraud prevention is pleased to announce the appointment of David Lyle as Chief Financial Officer (CFO). He will assume the CFO role on January 2, 2024, currently held by Fuad Ahmad, Mitek's current interim CFO, who will remain with Mitek during the next several months to ensure a successful transition. Lyle brings an impressive background with 28 years of technology industry experience, 16 of which were spent leading public companies as CFO, including Surgalign Spine Technologies (SRGAQ), Airgain, Inc. (NASDAQ
Mitek (NASDAQ:MITK) is pleased to announce the appointment of Gillian Channer as the Vice President of Identity Product Management. With a distinguished career spanning product management, business operations, and technology thought leadership, Gillian brings a wealth of experience and industry insight to her new role. Prior to joining Mitek, Gillian served as the Chief Product Officer for Capita, a leading United Kingdom-based consulting, transformation and digital services business. In this capacity, she led a customer-centric approach to product management across multiple business lines and held the position of Division Product Architecture Director, responsible for defining the compan
Top consumer credit reporting agency and global identity verification experts partner to lead fight against evolving digital fraud threats Mitek Systems, Inc. (MITK), a global leader in making digital access faster and more secure, announced a strategic partnership with Equifax Inc. (EFX), a global data, analytics and technology company. The agreement will add Mitek's biometric-based identity verification and liveness detection technology to Equifax's digital identity software, further strengthening Equifax's ability to help companies prevent identity fraud. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230921731606/en/ In Fe
Company to Undertake Strategic Portfolio Review FLEETCOR Technologies, Inc. (NYSE:FLT) ("FLEETCOR" or the "Company"), a leading global business payments company, today announced it has entered into a cooperation agreement with one of its long-term shareholders, the D. E. Shaw group. As part of the agreement, FLEETCOR has appointed Rahul Gupta to the Company's Board of Directors (the "Board"), agreed to add another, mutually agreed-upon director to the Board and agreed to form an ad hoc Strategic Review Committee. Board Refresh FLEETCOR's appointment of Mr. Gupta and the Company's agreement to add a second new director advances the Company's Board refreshment process, which is intended to
Strategic hire will help manufacturers navigate increasing compliance and sustainability requirements Assent Inc. (Assent), a leader in supply chain sustainability management, has appointed Aaron Korsen as Senior Vice President of Sales, North America. The hire comes at a time of rapid growth for Assent as the company delivered another year of double-digit sales growth in 2022 and recently launched its complete end-to-end ESG solution to help manufacturers manage upcoming and expanded supply chain reporting requirements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230215005079/en/Aaron Korsen, SVP of North American Sales at A