Latest news with #MitekSystems
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.
Washington Post
08-05-2025
- Business
- Washington Post
Mitek Systems: Fiscal Q2 Earnings Snapshot
SAN DIEGO — SAN DIEGO — Mitek Systems Inc. (MITK) on Thursday reported fiscal second-quarter net income of $9.2 million. The San Diego-based company said it had profit of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 36 cents per share. The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share. The mobile imaging software company posted revenue of $51.9 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $47.9 million. Mitek Systems expects full-year revenue in the range of $170 million to $180 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on MITK at
Yahoo
02-05-2025
- Business
- Yahoo
Is Mitek Systems, Inc. (MITK) the Best Cybersecurity Stock to Invest in Under $20?
We recently published a list of . In this article, we are going to take a look at where Mitek Systems, Inc. (NASDAQ:MITK) stands against other best cybersecurity stocks to invest in under $20. The cybersecurity sector is at a tipping point, driven by growing cyber threats, breakthrough technologies such as AI and IoT, and a renewed focus on national security and digital infrastructure. Despite a well-documented talent scarcity and evolving geopolitical concerns, the industry continues to grow rapidly, creating an ideal environment for innovation and investment. According to Fortune Business Insights, the worldwide cybersecurity industry was valued at $172.24 billion in 2023 and is expected to reach $562.72 billion by 2032, expanding at a CAGR of 14.3%. North America, notably the United States, dominates this environment, driven by the growth of e-commerce platforms, increased digital adoption in industries such as BFSI and healthcare, and greater consumer awareness. Cloud computing, AI, machine learning, and IoT technologies are now at the forefront of current cybersecurity solutions, allowing enterprises to identify and prevent digital breaches in real time. However, as technology advances, so do the hazards. McKinsey's November 2024 report underlines the critical need to make AI systems more secure, advising cybersecurity providers to focus on the dual problem of protecting both their own AI models and those used by their clients. Generative AI and third-party integrations provide new attack surfaces, necessitating the use of smarter, more adaptive protection technologies. The need is further heightened by significant policy developments. According to WIRED, former President Trump slapped punitive tariffs on technology imports, sending shockwaves across the semiconductor and e-commerce sectors. While some tech businesses may profit from increased demand for logistics and supply chain management technologies, others, such as major tech giants, saw their stock prices fall sharply due to concerns about inflation and disrupted trade routes. Tariffs on goods from China and other significant nations may boost consumer prices and limit the supply of critical cybersecurity components, particularly for cloud and data center operators. In the meantime, firms' stakes are still rising. Nearly half of American businesses have experienced significant revenue losses as a result of data breaches, according to Arcserve and IBM. In 2024, the average cost of a breach was close to $4.9 million; when events took more than 200 days to identify, the cost increased to $5.5 million. The threat surface is growing due to generative AI, and just 40% of SaaS services are actively monitored for security, further taxing already overworked security teams. According to Forbes, there is a paradox in the workforce, despite a 4.8 million cybersecurity expert deficit worldwide, thousands of competent IT workers are still underutilized as a result of strict recruiting practices and a lack of investment in local talent development. While degrees and certifications are still important, practical experience gained through laboratories, bug bounty programs, or internships has emerged as the key differentiator. When combined, these patterns point to a fundamental transformation of the cybersecurity sector as well as an increase in demand for cybersecurity services. Cybersecurity firms that can innovate at scale while navigating governmental changes and global uncertainties are being keenly watched by investors, particularly those keeping an eye on high-growth tech industries. In order to find the Best Cybersecurity Stocks to invest in under $20, we started by searching for companies working in the cybersecurity sector using the Finviz stock screener, applying a price filter to include just those trading below $20 per share. Following the compilation of the list, we used Insider Monkey's hedge fund holdings database to analyze hedge fund sentiment for each stock. Next, we arranged the stocks according to the number of hedge funds that owned each one in ascending order, as per Insider Monkey's database of Q4 2024. The final list consists of cybersecurity stocks under $20 that are currently overlooked by institutional investors, perhaps representing discounted chances in a quickly changing field. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close-up of a hand holding a smartphone, showcasing mobile financial applications. Share Price: $8.30 Number of Hedge Fund Holders: 26 Mitek Systems, Inc. (NASDAQ:MITK) is emerging as one of the finest cybersecurity companies under $20 due to its strong position in the rapidly growing digital identity verification and fraud prevention areas. Mitek, headquartered in San Diego, California, provides a comprehensive portfolio of mobile image capture and digital identity products, including Mobile Deposit, Mobile Verify, MiSnap, Check Fraud Defender, MiVIP, and MiPass. Its cutting-edge tools enable secure transactions in the banking, finance, and corporate sectors worldwide. Mitek Systems, Inc. (NASDAQ:MITK) reported positive results for its fiscal first quarter ending December 31, 2025. Total revenue increased marginally to $37.3 million, despite timing-related slowness in mobile deposit renewals. Notably, Identity product revenue increased 13% year-over-year, and the company maintained a good non-GAAP gross margin of 84%. Adjusted EBITDA increased 32% to $7.8 million, representing a respectable 21% margin. Mitek's free cash flow generation remained high, reaching $40.2 million over the last year, offering it flexibility as it prepares to meet the maturity of its 2026 convertible note. Mitek's Check Fraud Defender product continues to grow significantly, with an annual contract value (ACV) approaching $12 million. Management reiterated its fiscal 2025 revenue projection, estimating $170-$180 million and improving the adjusted EBITDA margin outlook to 25%-28%. Changes in strategic leadership contributed to increased optimism. Garrett Gafke, an industry veteran, was appointed Chief Operating Officer by Mitek Systems, Inc. (NASDAQ:MITK) on April 28, 2025. Gafke is a renowned pioneer in digital identity and fraud prevention. His hiring strengthens Mitek's strategic focus on expanding growth, especially as financial institutions and organizations throughout the world prioritize digital security and fraud prevention. As digital fraud concerns increase and institutions need more secure, automated identity verification solutions, Mitek's specialized services and rising SaaS revenue streams position it for long-term, sustainable growth. Mitek Systems, Inc. (NASDAQ:MITK) is one of the best cybersecurity stocks with a strong balance sheet, recurrent revenue momentum, and new leadership. Overall, MITK ranks 3rd on our list of best cybersecurity stocks to invest in under $20. While we acknowledge the potential of MITK, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MITK but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
09-04-2025
- Business
- Yahoo
Mitek Systems, Inc. (MITK): Among Small-Cap Stocks Insiders Were Buying in Q1 2025
We recently published a list of . In this article, we are going to take a look at where Mitek Systems, Inc. (NASDAQ:MITK) stands against other small-cap stocks insiders were buying in Q1 2025. President Donald Trump's initial unilateral 10% tariff went into effect on Saturday, at least partly causing the drop in the stock market. On Sunday, the President said 'I don't want anything to go down, but sometimes you have to take medicine to fix something,' as reported by CNBC. On Monday morning, the broader market index lost 1.87%, marking an 11% loss over the past five trading days, signaling the possibility of entering a bear market. Also, during Monday's morning session, the blue-chip companies declined 2.34% and the NASDAQ Composite lost 1.57%. Amid market uncertainty, insider trading often attracts attention. Executive stock purchases can indicate optimism, while sales might reflect personal financial decisions or investment diversification. Executives usually follow pre-arranged strategies, such as 10b5-1 plans, and insider trading should be considered alongside the company's financial health and market conditions. Today, we're focusing on stocks with small market capitalizations that have seen heavy insider buying activity in the first quarter of the year. Using Insider Monkey's insider trading screener, we identified companies with market caps between $250 million and $2 billion, where at least four insiders purchased shares in the past three months. From this list, we ranked the top 20 stocks with the highest number of insiders making purchases. Stocks that have been recently covered were excluded from our analysis. Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). For each stock, we note the number of insiders who acquired shares in the first quarter and the market capitalizations. Let's take a look at the 20 small-cap stocks insiders were buying in Q1 2025. A close-up of a hand holding a smartphone, showcasing mobile financial applications. Number of insiders buying: 4 Market Capitalization: $321.23 million Mitek Systems provides cloud-based software solutions for digital identity verification, mobile check deposits, and fraud prevention. The San Diego, California-based company offers AI-powered technologies that help financial institutions and businesses securely authenticate transactions and verify user identities. Their products include mobile deposit tools, identity verification solutions, and fraud detection services. In February and March, four insiders, including the company's CEO, acquired approximately $774,717 worth of Mitek Systems shares at an average price of $9.08 per share. Currently, the stock trades at $7.08 per share, having lost 36.69% since the beginning of the year. According to StockAnalysis, four analysts rate Mitek Systems as a 'Strong Buy,' with a price target of $12.88 per share. The average price target suggests a 79.39% upside from the latest price. Mitek Systems is also one of the 10 best cloud computing stocks to buy under $10. Overall, MITK ranks 19th on our list of small-cap stocks insiders were buying in Q1 2025. While we acknowledge the potential of MITK, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than MITK but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
17-02-2025
- Business
- Yahoo
Mitek Systems' (NASDAQ:MITK) Earnings May Just Be The Starting Point
Even though Mitek Systems, Inc. (NASDAQ:MITK ) posted strong earnings, investors appeared to be underwhelmed. We did some digging and actually think they are being unnecessarily pessimistic. Check out our latest analysis for Mitek Systems As finance nerds would already know, the accrual ratio from cashflow is a key measure for assessing how well a company's free cash flow (FCF) matches its profit. In plain english, this ratio subtracts FCF from net profit, and divides that number by the company's average operating assets over that period. The ratio shows us how much a company's profit exceeds its FCF. As a result, a negative accrual ratio is a positive for the company, and a positive accrual ratio is a negative. While it's not a problem to have a positive accrual ratio, indicating a certain level of non-cash profits, a high accrual ratio is arguably a bad thing, because it indicates paper profits are not matched by cash flow. To quote a 2014 paper by Lewellen and Resutek, "firms with higher accruals tend to be less profitable in the future". Over the twelve months to December 2024, Mitek Systems recorded an accrual ratio of -0.16. That indicates that its free cash flow quite significantly exceeded its statutory profit. In fact, it had free cash flow of US$40m in the last year, which was a lot more than its statutory profit of US$4.46m. Mitek Systems' free cash flow improved over the last year, which is generally good to see. However, as we will discuss below, we can see that the company's accrual ratio has been impacted by its tax situation. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. In addition to the notable accrual ratio, we can see that Mitek Systems received a tax benefit of US$2.7m. It's always a bit noteworthy when a company is paid by the tax man, rather than paying the tax man. Of course, prima facie it's great to receive a tax benefit. And since it previously lost money, it may well simply indicate the realisation of past tax losses. However, the devil in the detail is that these kind of benefits only impact in the year they are booked, and are often one-off in nature. In the likely event the tax benefit is not repeated, we'd expect to see its statutory profit levels drop, at least in the absence of strong growth. In conclusion, Mitek Systems has strong cashflow relative to earnings, which indicates good quality earnings, but the tax benefit means its profit wasn't as sustainable as we'd like to see. After taking into account all these factors, we think that Mitek Systems' statutory results are a decent reflection of its underlying earnings power. If you want to do dive deeper into Mitek Systems, you'd also look into what risks it is currently facing. You'd be interested to know, that we found 1 warning sign for Mitek Systems and you'll want to know about this. Our examination of Mitek Systems has focussed on certain factors that can make its earnings look better than they are. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. 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.
