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Mitek Systems, Inc.

MITK Technology Software Application

Mitek Systems, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $179.7 million, up 4.42% from fiscal 2024.

Revenue
+18.2%
EPS
+280.0%
Free cash flow
+19.2%

Quarter to June 2026, against a year earlier

17.24 0.31 +1.83%
Market cap
$763.9M
P/E
34.4×
Fwd P/E
39.4×
Dividend yield
—
F-score
6/9
Altman Z
1.76
Beneish M
−2.86
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 3.50
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 1 1 — — — — — —
Insider Ownership 5.52%

Capital & Financial Ratios $m

Size
Market Cap 763.93
Revenue ttm 197.90
Net income ttm 22.54
Free cash flow ttm 48.61
Net debt Q (50.34)
Valuation
P/E 34.42
Forward P/E 39.40 (above 35: high)
Price / sales 3.93
Forward P/S Powerpack
Price / FCF 15.99
Price / book 3.10
Financial health
Current ratio Q 2.74 (at or above 1.5: strong)
Debt / equity Q 0.20 (at or below 0.5: strong)
Interest coverage Q 16.01
Growth
Revenue growth Q +18.17% (above 0%: growing)
Operating income growth Q +203.07% (above 0%: growing)
EPS, this year +21.68% (at or above 15%: strong)
EPS, next year A +2.08%
Revenue, next year A +9.97%
EPS, past 5 yrs +1.09%
EPS, next 5 yrs A +14.07%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.7×, against a ten-year median of 4.1×; over the ten years it ranged from 2.0× in 2025 to 8.5× in 2016.
P/E against its own 10 years 13.34%
10-year low 10-year high
P/S against its own 10 years 41.24%
10-year low 10-year high
P/B against its own 10 years 42.67%
10-year low 10-year high
EV/Sales against its own 10 years 38.09%
10-year low 10-year high
EV/FCF against its own 10 years 16.35%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 134 130 193 100
Receivables 32 32 37 52
Inventory — — — —
Other 21 19 16 12
190 185 248 168
2023 2024 2025 Q'26
Payables 8 7 4 4
ST’ Debt — — — 3
Other 9 2 6 1
51 42 209 61

Compound Annual Growth %

10y 5y 3y
Sales 21.63% 12.14% 7.46%
Cash Flow 24.66% 18.07% 37.87%
Earnings 13.29% 2.40% 33.54%
Book Value 22.95% 12.68% 12.01%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.26 Actual 0.34

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.18 0.24 Beat by 0.06
Q1 FY26 0.20 0.26 Beat by 0.06
Q2 FY26 0.32 0.38 Beat by 0.06
Q3 FY26 0.26 0.34 Beat by 0.08
Q4 FY26 0.16 — Reports 10 December 2026

EPS $

Dec Mar Jun Sep Year
’26 0.06 0.20 0.17 — —
’25 (0.10) 0.20 0.05 0.04 0.19
’24 (0.13) 0.01 0.00 0.18 0.07
’23 0.10 0.10 (0.01) (0.03) 0.17
’22 0.07 0.01 0.00 0.01 0.07
’21 0.05 0.02 0.07 0.05 0.19
’20 0.01 0.02 0.03 0.12 0.18
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 44 55 54 — —
’25 37 52 46 45 180
’24 37 47 45 43 172
’23 46 46 43 38 173
’22 32 34 39 40 145
’21 26 29 32 33 120
’20 22 23 25 31 101
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 8 (1) 27 — —
’25 1 14 22 19 55
’24 (9) 7 13 21 32
’23 5 6 17 3 32
’22 2 7 6 5 21
’21 9 7 9 12 37
’20 5 3 9 7 24
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 7 (2) 25 — —
’25 0 14 21 19 54
’24 (10) 7 13 21 30
’23 5 6 16 3 31
’22 2 7 6 5 20
’21 8 7 9 12 36
’20 5 3 9 6 23
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 35 45 64 85 101 120 145 173 172 180 198 +20.0% 198 214 231 +8.8%
Gross margin, % 90.22 91.10 86.33 85.50 86.98 87.86 86.18 86.70 85.82 85.09 83.61 (5.1) pt
EBT 2 3 (9) (4) 9 9 4 10 (1) 12 32 +21.9%
EBT margin, % 5.64 6.99 (13.75) (4.71) 9.29 7.35 2.49 5.99 (0.53) 6.46 15.97 +0.8 pt
Net income 2 14 (12) (1) 8 8 4 8 3 9 23 +18.2%
Per share, $
Per share, $ Revenue 1.10 1.37 1.77 2.15 2.45 2.75 3.25 3.79 3.70 3.93 4.38 +15.2%
Earnings 0.06 0.43 (0.33) (0.02) 0.19 0.19 0.07 0.18 0.07 0.19 0.50 +13.7%
Cash flow 0.25 0.32 0.16 0.36 0.58 0.86 0.47 0.69 0.68 1.21 1.19 +19.2%
Capex (0.01) (0.01) (0.12) (0.03) (0.02) (0.03) (0.03) (0.02) (0.03) (0.03) (0.11) +13.8%
Free cash flow 0.24 0.30 0.04 0.34 0.56 0.83 0.45 0.67 0.65 1.19 1.08 +19.4%
Book value 1.25 1.86 2.66 2.73 3.19 4.43 3.83 4.51 4.61 5.26 5.55 +17.3%
Shares, m 32 33 36 39 41 44 45 46 47 46 45 +4.2%
Valuation, ×
Valuation, × P/E 138.17 23.10 0.00 0.00 69.31 97.37 110.23 62.12 122.80 51.42 34.42 67.5
P/S 7.55 7.07 3.80 4.49 5.21 6.72 2.82 2.79 2.35 2.49 3.93 4.5
P/B 6.63 5.23 2.53 3.54 3.99 4.17 2.39 2.34 1.88 1.86 3.10 3.5
EV/Sales 6.57 6.13 3.53 4.09 4.69 6.65 3.10 2.81 2.44 2.23 3.67 4.2
EV/FCF 29.98 27.95 170.01 26.27 20.39 22.16 22.43 15.87 13.86 7.41 14.96 35.6
Cash, $m
Cash, $m Operating cash flow 8 10 6 14 24 37 21 32 32 55 54 +24.2%
Capex 0 0 (4) (1) (1) (1) (1) (1) (1) (1) (5) +18.5%
Free cash flow 8 10 1 13 23 36 20 31 30 54 49 +24.4%
Balance, $m
Balance, $m Working capital 32 41 17 34 60 165 89 139 143 39 107 +2.4%
Net debt (34) (43) (17) (33) (54) (10) 38 2 13 (193) (50) +21.3%
Shareholders’ equity 39 61 95 107 132 193 171 205 215 240 251 +22.2%
Returns, %
Returns, % ROA 4.50 23.47 (11.87) (0.55) 5.12 2.71 0.94 2.09 0.80 2.02 5.53 (2.5) pt
ROIC 20.31 9.19 (6.22) (3.85) 7.09 4.54 3.65 4.70 0.61 22.21 11.00 +1.9 pt
ROE 5.60 27.93 (15.06) (0.71) 6.52 4.91 2.03 4.27 1.56 3.87 9.23 (1.7) pt
People
People Employees 117 141 308 284 360 448 588 590 630 595 — +19.8%
Revenue/emp, $m 0.30 0.32 0.21 0.30 0.28 0.27 0.25 0.29 0.27 0.30 — +0.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Mitek Systems, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DJCO Daily Journal Corp. (S.C.) $882.0M — (loss-making) — (loss-making) +15.25% (above 0%: growing) n/m +48.22% (above 0%: growing) 99.41% 19.52% Compare
DSP Viant Technology Inc. $841.2M 25.3× 62.4× +33.91% (above 0%: growing) n/m +38.79% (above 0%: growing) 100.00% (3.69%) Compare
PAR PAR Technology Corporation $793.3M — (loss-making) — (loss-making) +15.04% (above 0%: growing) n/m +300.71% (above 0%: growing) 43.81% (3.99%) Compare
PUBM PubMatic, Inc. $764.3M — (loss-making) — (loss-making) +10.55% (above 0%: growing) n/m +47.47% (above 0%: growing) 67.07% 0.74% Compare
MITK Mitek Systems, Inc. $763.9M 34.4× 39.4× +18.17% (above 0%: growing) +280.00% (above 0%: growing) +19.18% (above 0%: growing) 84.86% 21.36%
DCBO Docebo Inc. $758.5M 24.7× 36.8× +13.04% (above 0%: growing) −10.00% (below 0%: shrinking) −154.48% (below 0%: shrinking) 79.44% 3.76% Compare
SMWB Similarweb Ltd. $736.7M — (loss-making) — (loss-making) +8.76% (above 0%: growing) n/m +217.42% (above 0%: growing) 80.73% 0.96% Compare
YALA Truth Social God Bless America ETF $705.3M 6.2× 7.0× −2.31% (below 0%: shrinking) −12.50% (below 0%: shrinking) +9,191.70% (above 0%: growing) 67.55% 23.49% Compare
VTEX VTEX $677.8M 23.2× 19.9× +9.52% (above 0%: growing) +200.00% (above 0%: growing) +79.12% (above 0%: growing) 80.31% 15.00% Compare
Median of peers $761.4M 23.9× 28.3× +11.80% −10.00% +63.67% 79.88% 2.36%

All 230 Software Application stocks →

Pay and ownership Proxy statement filed 26 January 2026

Ownership

Directors and executive officers, together 2.20%
The Vanguard Group 7.50%
BlackRock, Inc. 7.10%
Legal & General Group Plc 6.30%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Mitek Systems, Inc. (MITK) Latest News

18 Oct

Impact 4 · · Simply Wall St.

2 Sep

Impact 3 ·

14 Aug

Impact 3 ·

7 Aug

Impact 4 · transcript
Impact 4 · · MarketBeat transcript

6 Aug

Impact 4 ·
Impact 3 ·
Impact 3 ·

11 Jun

Impact 3 ·

10 Jun

Impact 3 · · Business Wire

15 May

Impact 4 · · IPO-Edge.com

14 May

Impact 3 ·

13 May

Impact 4 · · Business Wire

11 May

Impact 4 · · Simply Wall St.

8 May

Impact 4 · · Moby
Impact 3 · · MarketBeat

7 May

Impact 4 · · Zacks
Impact 4 · · Zacks
Impact 4 · · Business Wire

28 Apr

Impact 3 · · Simply Wall St.
Impact 3 ·

16 Apr

Impact 4 · · Business Wire

12 Mar

Impact 4 · · Business Wire

12 Feb

Impact 4 · · Simply Wall St.
Impact 4 · · Business Wire

9 Feb

Impact 3 · · Zacks
Impact 3 · · Simply Wall St.

6 Feb

Impact 4 · · GuruFocus.com

5 Feb

Impact 4 · · MarketBeat transcript
Impact 3 · · ZacksZacksZacksSimply Wall St.MarketBeatZacksZacksZacks
stockrow.com/MITK · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com