MITK Slides With Market, But Prospects Remain Promising [Forbes]
Mitek Systems, Inc. (MITK)
Last mitek systems, inc. earnings: 4/30 04:05 pm
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Source: Forbes
Mitek Systems (MITK) reported fiscal 2024 Q2 results on May 10. Revenue for the period rose 1.8% year-over-year to $47 million, driven by demand for its new MiVIP, MiPass and ID R&D biometrics identity products. Though this came in at the top end of its guidance range of $46 million to $47 million and $1.7 million above the $45.3 million expected by the Street, the adjusted earnings of 24 cents per share were down 20% and missed consensus by a penny due to fees associated with the company's delayed SEC filings. The good news is that despite these extra costs incurred to get its regulatory filings up-to-date, MITK was able to generate $6.8 million of free cash flow during the quarter. That's up 8.2% from the $6.1 million produced in Q2 of fiscal 2023 and enabled it to reduce its net debt by $4.3 million to just $9.2 million. Mitek Systems (MITK) is one of the stocks recommended in our market-beating investment newsletter, Forbes Investor. To discover more undervalued gems with sig
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MITK
News
- Mitek Systems, Inc. (NASDAQ: MITK) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Mitek Named to 2024 AIFinTech100 List [Yahoo! Finance]Yahoo! Finance
- Mitek Named to 2024 AIFinTech100 ListBusiness Wire
- The Best $7 I Never Spent: Data Privacy Practices For Professionals [Forbes]Forbes
- ID R&D Granted Patent for Voice-Based Device Unlocking [Yahoo! Finance]Yahoo! Finance
MITK
Earnings
- 5/10/24 - Miss
MITK
Sec Filings
- 6/14/24 - Form 4
- 6/14/24 - Form 144
- 6/11/24 - Form 8-K
- MITK's page on the SEC website