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. In the quarter to June 2026, revenue grew 18.2%, EPS grew 280.0% and free cash flow grew 19.2%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Mitek Systems, Inc. (MITK) Altman Z-score
Mitek Systems, Inc.'s Altman Z-score for fiscal 2025 is 1.76, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.76 | (0.20) |
| FY2024 | 1.96 | (0.43) |
| FY2023 | 2.39 | 0.39 |
| FY2022 | 2.00 | (0.97) |
| FY2021 | 2.97 | (6.69) |
| FY2020 | 9.66 | 1.08 |
| FY2019 | 8.57 | 3.57 |
| FY2018 | 5.00 | (14.40) |
| FY2017 | 19.40 | 1.02 |
| FY2016 | 18.38 | 10.94 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.09 | — | 0.10 | |
| Retained earnings / total assets | (0.06) | — | −0.08 | |
| EBIT / total assets | 0.04 | — | 0.12 | |
| Market value of equity / total liabilities | 2.04 | — | 1.22 | |
| Sales / total assets | 0.39 | — | 0.39 | |
| Altman Z-score | Distress zone | 1.76 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.78 | ||
Z and Z″ put Mitek Systems, Inc. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| YALA Truth Social God Bless America ETF compare | 9.5× |
| MNTN MNTN Inc. compare | 5.7× |
| VTEX VTEX compare | 4.7× |
| DCBO Docebo Inc. compare | 3.3× |
| MITK Mitek Systems, Inc. | 1.8× |
| PAR PAR Technology Corporation compare | 1.5× |
| PUBM PubMatic, Inc. compare | 1.5× |
| SPT Sprout Social, Inc. compare | 0.7× |
| SMWB Similarweb Ltd. compare | 0.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets