Latest news with #EdWest
Scottish Sun
21 hours ago
- Politics
- Scottish Sun
Fury as BA calls Falkland Islands capital by its ARGENTINIAN name in ‘ludicrous and insulting' blunder
Falklands war veterans slammed the error, which BA promised to investigate FALKLANDS FURY Fury as BA calls Falkland Islands capital by its ARGENTINIAN name in 'ludicrous and insulting' blunder BRITISH Airways has been branded disgraceful for using the Argentinian name for the capital of the Falklands Islands on in-flight entertainment screens. The UK's flag carrier airline refers to Port Stanley as Puerto Argentino. Advertisement 3 Port Stanley is the Falkland Islands' only city Credit: Rex 3 255 British military personnel died in the 74-day conflict in 1982 Credit: Getty The British title is relegated to a set of brackets underneath. Ed West, of The Spectator magazine, spotted the blunder and said: 'Curious wording for a British Airways in-flight map.' Last night, BA promised to investigate as the error was described as 'ludicrous' and 'insulting' by Falklands war veterans. Argentina still claims sovereignty but its invading forces lost the 74-day conflict in 1982. Advertisement British forces scrambled halfway around the world to put down General Leopoldo Galtieri's troops after they took Port Stanley in a surprise raid. This Saturday is the 43rd anniversary of Britain's victory. Former head of the Royal Navy, Admiral Lord West, who won the Distinguished Service Cross during the war, said the name error was 'disrespectful' to islanders. He told The Sun: 'It's disgraceful. Advertisement 'The Falklands are a British overseas territory and 99.9 per cent of islanders want to stay British. 'We have said very clearly there will be no discussions about sovereignty. The New British Airways First Class Seat 'For the flag carrier airline to give Port Stanley another name is unforgivable.' Lord West, whose HMS Ardent was sunk by Argentine forces, added: 'I don't know why they would do it. Advertisement 'Everyone on the Falkland Islands calls it Port Stanley. 'They should change it back as soon as possible. 'This is insulting to the population of Port Stanley.' In all, 255 British personnel lost their lives defending the islands. Advertisement In 2017 Argentina's senate voted to rename Port Stanley as Puerto Argentino and celebrate Sovereignty Day there if it is ever recaptured. The in-flight map shows only the names of world capitals and not countries' names. It means BA does not reference the Falklands by its Argentinian name Islas Malvinas. British Airways' parent company, International Airlines Group, is based in Spain. Advertisement A BA spokeswoman said: 'We are grateful this has been brought to our attention. 'We'll be reviewing it with the third party supplier that provides the in-flight map service.'
The Irish Sun
21 hours ago
- Politics
- The Irish Sun
Fury as BA calls Falkland Islands capital by its ARGENTINIAN name in ‘ludicrous and insulting' blunder
BRITISH Airways has been branded disgraceful for using the Argentinian name for the capital of the Falklands Islands on in-flight entertainment screens. The UK's flag carrier airline refers to Port Stanley as Puerto Argentino. 3 Port Stanley is the Falkland Islands' only city Credit: Rex 3 255 British military personnel died in the 74-day conflict in 1982 Credit: Getty The British title is relegated to a set of brackets underneath. Ed West, of The Spectator magazine, spotted the blunder and said: 'Curious wording for a British Airways in-flight map.' Last night, BA promised to investigate as the error was described as 'ludicrous' and 'insulting' by Falklands war veterans. Argentina still claims sovereignty but its invading forces lost the 74-day conflict in 1982. Read more on British Airways British forces scrambled halfway around the world to put down General Leopoldo Galtieri's troops after they took Port Stanley in a surprise raid. This Saturday is the 43rd anniversary of Britain's victory. Former head of the Royal Navy, Admiral Lord West, who won the Distinguished Service Cross during the war, said the name error was 'disrespectful' to islanders. He told The Sun: 'It's disgraceful. Most read in The Sun 'The Falklands are a British overseas territory and 99.9 per cent of islanders want to stay British. 'We have said very clearly there will be no discussions about sovereignty. The New British Airways First Class Seat 'For the flag carrier airline to give Port Stanley another name is unforgivable.' Lord West, whose HMS Ardent was sunk by Argentine forces, added: 'I don't know why they would do it. 'Everyone on the Falkland Islands calls it Port Stanley. 'They should change it back as soon as possible. 'This is insulting to the population of Port Stanley.' In all, 255 British personnel lost their lives defending the islands. In 2017 Argentina's senate voted to rename Port Stanley as Puerto Argentino and celebrate Sovereignty Day there if it is ever recaptured. The in-flight map shows only the names of world capitals and not countries' names. It means BA does not reference the Falklands by its Argentinian name Islas Malvinas. British Airways' parent company, International Airlines Group, is based in Spain. A BA spokeswoman said: 'We are grateful this has been brought to our attention. 'We'll be reviewing it with the third party supplier that provides the in-flight map service.' 3 BA in-flight entertainment screens refer to Port Stanley as Puerto Argentino
Business Wire
21-05-2025
- Business
- Business Wire
Mitek Announces Participation in Upcoming Investor Conferences
SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK, 'Mitek' or the 'Company'), a global leader in digital identity verification, mobile capture and fraud management, today announced that its CEO, Ed West and CFO, Dave Lyle will participate in the following investor conferences: 22 nd Annual Craig-Hallum Institutional Investor Conference. Mitek management will be hosting meetings at the conference in Minneapolis on May 28, 2025. William Blair's 45 th Annual Growth Stock Conference. Mitek management will present to investors at 11:20 a.m. PT (1:20 p.m. CT) at the conference in Chicago on June 3, 2025. To access a live webcast or replay of the William Blair conference's formal presentation, visit Mitek's investor relations section at or click here to access the webcast. Management will also host meetings at the conference. Maxim Group's 2025 Virtual Tech Conference: Discover the Innovations Reshaping Tomorrow. Mitek management will participate in a fireside chat with analyst Allen Klee on June 5, 2025, at 8:00 a.m. PT. This conference will be live on M-Vest. To attend, sign up to become an M-Vest member. Click here to learn more and reserve your seat. Northland Growth Conference 2025. Mitek management will host virtual meetings at this conference on June 25, 2025. About Mitek Systems, Inc. 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, providing companies new levels of control, deployment ease and operation, while protecting the entire customer journey. With solutions trusted by 7,900 organizations around the world, including the majority of North American financial institutions which rely on our mobile check deposit solutions, Mitek helps companies reduce risk and meet regulatory requirements. Learn more at [(MITK-F)] Follow Mitek on LinkedIn and YouTube, and read Mitek's latest blog posts here.
Yahoo
09-05-2025
- Business
- Yahoo
Mitek Systems Inc (MITK) Q2 2025 Earnings Call Highlights: Record Revenue and Strategic SaaS Growth
Release Date: May 08, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Mitek Systems Inc (NASDAQ:MITK) reported a record total revenue of $51.9 million for the second quarter, marking an 11% year-over-year increase. The company's identity portfolio showed strong momentum, with revenue reaching over $71 million in the last 12 months, driven by robust transaction growth. Check fraud defender solution expanded significantly, now covering data sets on 23% of US checking accounts, up from 18% in the previous quarter. SaaS revenue grew by 15% year over year, now accounting for 40% of the total revenue, indicating a successful transition towards a more recurring revenue model. Mitek Systems Inc (NASDAQ:MITK) achieved an 88% non-GAAP gross margin for the quarter, reflecting strong unit economics and improved cost efficiencies. The company faces long and complex sales cycles in the banking sector, which can delay revenue recognition and growth. Despite the positive revenue growth, the identity products revenue only increased by 4% year over year, which is relatively modest compared to other segments. There is a reliance on a few large customers for mobile deposit orders, which can lead to revenue fluctuations based on the timing of these orders. The macroeconomic environment remains uncertain, which could potentially impact future performance despite current resilience. The transition to a SaaS model, while progressing, is still not complete, with SaaS revenue yet to surpass 50% of total revenue. Warning! GuruFocus has detected 3 Warning Sign with MITK. Q: Can you talk about some things that have gone well thus far and maybe a few things that have been a bit more difficult for you, and what you're seeing from customers? A: Ed West, CEO: The company has made significant progress, particularly in fraud and identity solutions, aligning with customer needs. The trust built over decades with financial institutions and the technological capabilities in identity and biometrics are key strengths. While the macro environment remains stable, the company is cautious and focused on executing its strategy. Q: On the maintained top line guide, were there any pull forwards that helped drive the strength in the quarter? A: Dave Lyle, CFO: Yes, a large mobile deposit customer ordered earlier than expected in Q2, contributing to the overachievement. Another customer also ordered more than anticipated, which was positive for the quarter's results. Q: How are you progressing toward the target of reaching 20 million AC by the end of the year? A: Ed West, CEO: The company has increased data set coverage to 23% of US checking accounts, indicating strong progress. While the process takes time, the direction is positive, and the company is focused on accelerating cycles to recognize revenue sooner. Q: Can you quantify how much quicker the modernized document onboarding system is with automation and cycle times? A: Ed West, CEO: The system significantly accelerates the process by reducing manual intervention, although exact data is not yet available. The improvements are meaningful and align with efforts to enhance profitability and scalability. Q: How do you see the SaaS revenue mix trending in the years to come, and where do you expect it to normalize? A: Ed West, CEO: The goal is for SaaS revenue to represent a majority of the business by fiscal 2026. Growth is driven by fraud and identity SaaS products, which are moving from nascent stages to significant growth, contributing to a more durable revenue model. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
11-02-2025
- Business
- Yahoo
Mitek Systems Inc (MITK) Q1 2025 Earnings Call Highlights: Strong Identity Revenue Growth ...
Total Revenue: $37.3 million for fiscal Q1, slightly ahead of last year. Deposit Products Revenue: $19.3 million, a 9% decline year over year. Identity Products Revenue: $18 million, a 13% increase year over year. Non-GAAP Gross Profit: $31.5 million, representing an 84% non-GAAP gross margin. Adjusted EBITDA: $7.8 million, representing a 21% margin. Identity Revenue (Last 12 Months): $70.7 million, up from $68.5 million at the end of fiscal 2024. Identity SaaS Revenue Growth: 26% year over year. Free Cash Flow (Last 12 Months): $40.2 million. Cash and Investments Balance: $137.9 million at the end of Q1. Fiscal 2025 Revenue Guidance: $170 million to $180 million. Adjusted EBITDA Margin Guidance: 25% to 28% for fiscal 2025. Warning! GuruFocus has detected 4 Warning Sign with MITK. Release Date: February 10, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Mitek Systems Inc (NASDAQ:MITK) reported a 13% year-over-year increase in identity products revenue, driven by accelerating transaction volumes. The company achieved a 21% adjusted EBITDA margin, reflecting strong cost efficiencies and operational discipline. Mitek Systems Inc (NASDAQ:MITK) saw a 29% year-over-year growth in SaaS revenue, highlighting the strength of its services revenue streams. The Check Fraud Defender (CFD) solution experienced considerable growth, with annual contract value approaching $12 million. Mitek Systems Inc (NASDAQ:MITK) maintained an 84% non-GAAP gross margin, driven by high margins on software license revenue and improved services gross margin. Deposit products revenue declined by 9% year-over-year due to the timing of mobile deposit renewals. The company faces challenges with the timing and lumpiness of mobile deposit software license renewals, impacting revenue phasing. There is a long sales cycle for the Check Fraud Defender solution, particularly with large financial institutions. Mitek Systems Inc (NASDAQ:MITK) experienced a 25% decline in software and hardware sales, reflecting fluctuations in biometrics point solutions and mobile deposit renewals. The company is still working through restructuring and integration efforts, which may impact short-term stability and execution. Q: Can you discuss the near-term opportunities for MyTech and your confidence in returning to double-digit growth following recent transitions? A: Ed West, CEO: Yes, I am confident in our ability to return to double-digit growth. The actions we've taken and the progress we've made, particularly in fraud solutions and identity verification, are encouraging. Our focus is on enhancing our go-to-market strategy and leveraging our capabilities in financial services and identity solutions to address growing threats. We will provide more updates on our progress and outlook for fiscal '26 later this year. Q: How is the partner channel for Check Fraud Defender (CFD) trending, and is there potential for larger mobile deposit partners to start selling this solution? A: Ed West, CEO: Our partnerships are growing, and the opportunity list is expanding as partners gain experience with the solution. Conversations with larger channel partners are progressing, and as financial institutions face increasing fraud, they are likely to push for solutions like CFD. The value of our solution is compelling, with a quick return on investment due to the level of fraud we can detect. Q: Can you provide an update on the larger IDR&D deals and banking campaigns for ID verification that were previously delayed? A: David Lyle, CFO: These deals are expected to close eventually, with benefits anticipated in the second half of fiscal '25 and into fiscal '26. Our capabilities, particularly in passive liveness, are recognized as second to none, and we continue to evolve our products and solutions to meet market needs. Q: Regarding the restructuring efforts, where does the company stand in terms of salesforce and engineering department changes? A: Ed West, CEO: We have completed the necessary restructuring and are now focused on execution. The changes were made to align our R&D resources closer to customers and integrate our platforms. We are at a stable level and are now focused on driving the business forward. Q: How does the simplification of your product lineup affect the sales process, and is there potential for clients to pause implementations? A: Ed West, CEO: The focus and execution on our MyVIP platform and additional signals are positive for all involved. Our sales team is becoming more familiar with the solutions, and the dialogue with customers is strong, especially as they face increased threat factors. We do not anticipate significant pauses in implementations. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
