Mitek Systems (MITK) Stock

SAN DIEGO--(BUSINESS WIRE)--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 globa.

Mitek's strong quarter featured impressive cost control and solid revenue growth, particularly in Check Fraud Defender and ID products. Check Fraud Defender's annualized contract value grew nearly 60% year-over-year, with expectations to double in fiscal 2025, a basis for sustained CFD revenue growth. Operating expenses have decreased considerably, and Mitek is focused on high-return growth opportunities, including M&A to enhance their technology stack and product offerings.

Mitek Systems is a cyber fraud player with strong free cash flow, trading at a compelling 15x forward free cash flow valuation. The new CEO's strategic initiatives and potential double-digit revenue growth by fiscal 2026 could drive significant upside. The company's robust EBITDA margins and manageable net debt position support the bullish outlook.

Mitek Systems (MITK) came out with quarterly earnings of $0.33 per share, beating the Zacks Consensus Estimate of $0.17 per share. This compares to earnings of $0.15 per share a year ago.

MITK unveils the DFD tool (available with the Mitek Verified Identity Platform) to aid businesses in combating GenAI-driven identity fraud, including deepfakes.

SAN DIEGO--(BUSINESS WIRE)--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 wi.

Mitek Systems (MITK) strengthens its collaboration with Alogent to empower financial institutions with a robust defense against check fraud.

SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, announces the expansion of their partnership with Alogent. Alogent will integrate Mitek's Check Fraud Defender (CFD) into its web-based enterprise deposits automation solution, Unify. According to the annual Federal Reserve Financial Services Survey, in the United States, forms of check fraud including forgery and counterfeiting account for 31% of all bank fraud. In fact, in.

Hope for business is not coming through or getting delayed as much as 18 months, causing a revenue shortfall. There might be some pick-up coming in thanks to a deepfake protection product that is coming to market imminently. Another positive is that considerable outstanding dilution from convertibles with a conversion price of over $20 likely doesn't get exercised before the 2026 expiry.