Latest news with #MitekSystems
Yahoo
11 hours ago
- Business
- Yahoo
Mitek Systems Wins Industry Award for Advanced Protection Against AI-Enabled Fraud, Deepfakes and Injection Attacks
Recognition from Datos Insights highlights Mitek's leadership in protecting digital identity with its multilayered Digital Fraud Defender SAN DIEGO, August 20, 2025--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification and fraud prevention, has been named the silver medalist in the 2025 Datos Insights Fraud and AML Impact Awards in the category of Best Digital Identity Verification. The award recognizes Mitek's Digital Fraud Defender, a multilayered security suite designed to protect against the growing wave of generative AI-driven fraud, including deepfakes and synthetic identity attacks. The Datos Impact Awards in Fraud & AML honor innovations in financial crime prevention. Mitek earned recognition for its work helping businesses detect and stop complex identity fraud threats that traditional systems often miss. For more information on how Mitek protects against next-generation fraud, see the Datos Insights case study on Digital Fraud Defender. "This award underscores the urgency of protecting financial institutions from the next generation of fraud," said Chris Briggs, chief product officer at Mitek. "We have long recognized that liveness detection alone is not enough to stop deepfakes, injection attacks, and other AI-driven threats. That is why Digital Fraud Defender combines multiple layers of protection, including proactive, Purple Team-led adversarial testing to anticipate emerging risks, support compliance, and preserve the trust our customers rely on. Recognition from Datos Insights validates that this approach is setting a new standard in fraud prevention." "Digital Fraud Defender's three-component architecture – injection attack detection, template attack detection, and deepfake detection – reflects the reality that AI-driven fraud requires multifaceted defenses," said Jim Mortensen, strategic advisor at Datos Insights. "Organizations can no longer rely on single-point solutions when facing increasingly sophisticated attack vectors." Digital Fraud Defender works behind the scenes during onboarding and authentication to detect signs of digital manipulation. It includes multiple layers of protection, such as: deepfake detection that analyzes subtle visual artifacts and underlying metadata to identify AI-generated media injection attack detection that flags content introduced through unauthorized or altered streams template attack detection that identifies patterns tied to repeated use of fake documents adversarial testing by Mitek's Purple Team, a team of ethical hackers who simulate real-world attacks to uncover vulnerabilities and strengthen defenses In real-world deployments, Digital Fraud Defender has uncovered high volumes of fraud that traditional systems missed. In one instance, it identified more than 3,000 injection attacks in a targeted phishing campaign. In another, it maintained a 99 percent pass rate while filtering out deepfake images during biometric verification. About Mitek Mitek Systems protects what's real across digital interactions in a world of evolving threats. Mitek helps businesses verify identities, prevent fraud before it happens, and deliver secure, seamless digital experiences in the face of rapidly advancing AI-generated threats. From account opening to authentication and deposit, Mitek's technology safeguards critical digital interactions. More than 7,000 organizations rely on Mitek to protect their most important customer connections and stay ahead of emerging risks. Learn more at Follow Mitek on LinkedIn and YouTube, and read Mitek's latest blog posts here. About Datos Insights Datos Insights is the leading research and advisory partner to the banking, insurance, and security and investments industries—both the financial services firms and the technology providers who serve them. In an era of rapid change, we empower firms across the financial services ecosystem to make high-stakes decisions with confidence and speed. Our distinctive combination of proprietary data, analytics, and deep practitioner expertise provides actionable insights that enable clients to accelerate critical initiatives, inspire decisive action, and de-risk strategic investments to achieve faster, bolder transformation. Visit to learn more. View source version on Contacts Media Contacts: For Mitek Systems pr@ For Datos Datos Insights: pr@ Awards Contact: awards@
Yahoo
08-08-2025
- Business
- Yahoo
Mitek Systems Inc (MITK) Q3 2025 Earnings Call Highlights: Strong SaaS Growth and Operational ...
Release Date: August 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Mitek Systems Inc (NASDAQ:MITK) reported a 23% year-over-year growth in SaaS revenue, now representing 41% of total revenue, indicating strong momentum in their subscription-based offerings. The company achieved a 99% free cash flow conversion rate over the last 12 months, showcasing strong cash generation and operational efficiency. MITK's identity product portfolio is nearing a fulcrum point for durable profitability, with identity revenue reaching $75 million, up 13% year over year. The Check Fraud Defender product saw a 56% year-over-year increase in annual contract value, highlighting strong demand for fraud prevention solutions. MITK has improved its non-GAAP operating expense intensity from 64% to 55% of revenue over the last 12 months, driven by cost reductions and operational efficiencies. Negative Points The company's non-GAAP gross margin decreased by 100 basis points year over year, due to a shift away from higher-margin deposit products. Deposit revenue was down 20% year over year, reflecting challenges in maintaining growth in this segment. MITK's identity solutions, while growing, have not yet reached full profitability on a durable basis, with costs still slightly exceeding revenues. The company faces challenges in integrating acquisitions and consolidating platforms, which has been a focus to improve operational efficiency. There is uncertainty regarding the timing of achieving the $20 million ACV target for the Check Fraud Defender product, as procurement processes and evaluations by financial institutions take time. Q & A Highlights Warning! GuruFocus has detected 5 Warning Signs with MITK. Q: With SaaS revenue up 23% year over year and being 41% of trailing 12-month revenue, how are you thinking about returning to double-digit growth in 2026? Any updates on your strategy? A: We are not guiding 2026 in this call, but we anticipate continued execution in unifying our platform and strengthening our foundation. Revenue growth is expected from SaaS solutions, primarily fraud and identity products, and cost discipline will allow reinvestment in long-term platform transformation. - Dave Lyle, CFO Q: Deposit revenue is down 20% year over year. How are you addressing this, and is it expected to stabilize in the coming quarters? A: We've seen stability in transaction volumes and managed to offset potential revenue declines with increases in ASPs over time. On a trailing 12-month basis, revenue is in line with historical levels, and we are focusing on growing the SaaS part of the business for better visibility and stability. - Ed West, CEO Q: How is the pipeline looking for new partners for Check Fraud Defender, and is there anything significant to call out in the near term? A: We are having ongoing conversations with multiple partners and large financial institutions. We have good visibility on potential conversions and are optimistic about the long-term opportunity. Our visibility into 25% of all US checking accounts is encouraging. - Ed West, CEO Q: What are you most excited about for the rest of fiscal year 2025 and heading into 2026? A: We are focused on executing our outlined goals, integrating acquisitions, and consolidating the platform. We are enthusiastic about SaaS growth, stability in mobile deposit business, and the potential for growth. Our capabilities position us well against AI-driven fraud. - Ed West, CEO Q: Could you provide more details on the demand for Check Fraud Defender and your confidence in hitting the $20 million ACV target? A: We are optimistic about achieving our ACV goals, with ongoing discussions and contract negotiations with large financial institutions. The ROI is evident, and while procurement processes take time, the results are promising. - Ed West, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
25-07-2025
- Business
- Globe and Mail
Mitek to Report Fiscal 2025 Third Quarter Financial Results on Aug. 7, 2025
Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification and fraud prevention, today announced that it will release its financial results for the third quarter of fiscal year 2025, which ended June 30, 2025, after the U.S. market closes on Thursday, Aug. 7, 2025. Mitek will host a conference call and live webcast to discuss the results at 2 p.m. PT (5 p.m. ET). Mitek CEO Ed West and CFO Dave Lyle will lead the call, followed by a Q&A session. Conference Call and Webcast Details Event: Mitek Fiscal 2025 Third Quarter Financial Results Date: Thursday, Aug. 7, 2025 Time: 2 p.m. PT (5 p.m. ET) Participants are encouraged to pre-register for the webcast by clicking here. Pre-registration is available before, during, and after the start time. Registered attendees will receive an online confirmation and a calendar invitation for the event. Those who are unable to pre-register can join the conference call/webcast by clicking the webcast link or using one of the dial-in numbers below: Webcast: Click here U.S. Toll-Free: +1 800 717 1738 International: +1 646 307 1865 Participants can use the guest dial-in numbers above to speak with an operator or click here for instant telephone access to the event 15 minutes prior to the event start time. Following the call, a dial-in replay will be available for one week. A webcast replay will remain accessible for one year at the link below or by using the dial-in numbers provided. Archived Webcast: U.S. Toll-Free Replay: +1 844 512 2921 International Replay: +1 412 317 6671 Replay Passcode: 1154629 The press release will be available on the Mitek investor relations website before the event begins. About Mitek Mitek Systems protects what's real across digital interactions in a world of evolving threats. Mitek helps businesses verify identities, prevent fraud before it happens, and deliver secure, seamless digital experiences in the face of rapidly advancing AI-generated threats. From account opening to authentication and deposit, Mitek's technology safeguards critical digital interactions. More than 7,000 organizations rely on Mitek to protect their most important customer connections and stay ahead of emerging risks. Learn more at [(MITK-F)]
Business Wire
25-07-2025
- Business
- Business Wire
Mitek to Report Fiscal 2025 Third Quarter Financial Results on Aug. 7, 2025
SAN DIEGO--(BUSINESS WIRE)-- Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification and fraud prevention, today announced that it will release its financial results for the third quarter of fiscal year 2025, which ended June 30, 2025, after the U.S. market closes on Thursday, Aug. 7, 2025. Mitek will host a conference call and live webcast to discuss the results at 2 p.m. PT (5 p.m. ET). Mitek CEO Ed West and CFO Dave Lyle will lead the call, followed by a Q&A session. Conference Call and Webcast Details Event: Mitek Fiscal 2025 Third Quarter Financial Results Date: Thursday, Aug. 7, 2025 Time: 2 p.m. PT (5 p.m. ET) Participants are encouraged to pre-register for the webcast by clicking here. Pre-registration is available before, during, and after the start time. Registered attendees will receive an online confirmation and a calendar invitation for the event. Those who are unable to pre-register can join the conference call/webcast by clicking the webcast link or using one of the dial-in numbers below: Webcast: Click here U.S. Toll-Free: +1 800 717 1738 International: +1 646 307 1865 Participants can use the guest dial-in numbers above to speak with an operator or click here for instant telephone access to the event 15 minutes prior to the event start time. Following the call, a dial-in replay will be available for one week. A webcast replay will remain accessible for one year at the link below or by using the dial-in numbers provided. Archived Webcast: U.S. Toll-Free Replay: +1 844 512 2921 International Replay: +1 412 317 6671 Replay Passcode: 1154629 The press release will be available on the Mitek investor relations website before the event begins. About Mitek Mitek Systems protects what's real across digital interactions in a world of evolving threats. Mitek helps businesses verify identities, prevent fraud before it happens, and deliver secure, seamless digital experiences in the face of rapidly advancing AI-generated threats. From account opening to authentication and deposit, Mitek's technology safeguards critical digital interactions. More than 7,000 organizations rely on Mitek to protect their most important customer connections and stay ahead of emerging risks. Learn more at [(MITK-F)] Follow Mitek on LinkedIn and YouTube, and read Mitek's latest blog posts here.
Yahoo
12-06-2025
- Business
- Yahoo
Should You Think About Buying Mitek Systems, Inc. (NASDAQ:MITK) Now?
While Mitek Systems, Inc. (NASDAQ:MITK) might not have the largest market cap around , it received a lot of attention from a substantial price increase on the NASDAQCM over the last few months. The recent rally in share prices has nudged the company in the right direction, though it still falls short of its yearly peak. With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock's share price. However, what if the stock is still a bargain? Let's take a look at Mitek Systems's outlook and value based on the most recent financial data to see if the opportunity still exists. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Great news for investors – Mitek Systems is still trading at a fairly cheap price. Our valuation model shows that the intrinsic value for the stock is $16.49, but it is currently trading at US$10.10 on the share market, meaning that there is still an opportunity to buy now. Although, there may be another chance to buy again in the future. This is because Mitek Systems's beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company's shares will likely fall by more than the rest of the market, providing a prime buying opportunity. View our latest analysis for Mitek Systems Future outlook is an important aspect when you're looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it's the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. However, with an extremely negative double-digit change in profit expected next year, near-term growth is certainly not a driver of a buy decision. It seems like high uncertainty is on the cards for Mitek Systems, at least in the near future. Are you a shareholder? Although MITK is currently undervalued, the adverse prospect of negative growth brings about some degree of risk. We recommend you think about whether you want to increase your portfolio exposure to MITK, or whether diversifying into another stock may be a better move for your total risk and return. Are you a potential investor? If you've been keeping tabs on MITK for some time, but hesitant on making the leap, we recommend you research further into the stock. Given its current undervaluation, now is a great time to make a decision. But keep in mind the risks that come with negative growth prospects in the future. So while earnings quality is important, it's equally important to consider the risks facing Mitek Systems at this point in time. At Simply Wall St, we found 1 warning sign for Mitek Systems and we think they deserve your attention. If you are no longer interested in Mitek Systems, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
