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Mitek Systems (MITK) investor relations material
Mitek Systems Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Aug, 2025
Executive summary
Q3 revenue grew 2% year-over-year to $45.7–$46 million, with SaaS revenue up 23% and now 41% of trailing 12-month revenue, reflecting strong demand for identity and fraud solutions.
Operational discipline and efficiency initiatives improved margins, with LTM OpEx down from 64% to 55% of revenue and free cash flow conversion at 99%.
Net income rose to $2.4 million ($0.05 per diluted share), and non-GAAP net income was $10.2 million ($0.22 per share).
Strategic focus on SaaS transition, integrating acquisitions, automating workflows, and unified platform investment.
Check Fraud Defender expanded to nearly 40 new financial institutions, increasing data visibility and reach.
Financial highlights
Q3 total revenue was $45.7–$46 million (+2% YoY); SaaS revenue was $19.3 million (+23% YoY); identity revenue up 24%.
Non-GAAP gross margin was 85%, down 100 bps YoY; GAAP gross margin was 77.7%.
Adjusted EBITDA was $13.1 million (28.6% margin), up 170 bps YoY.
Free cash flow for the last 12 months reached $56 million, with a 99% conversion rate.
Cash and investments totaled $175.4 million at June 30, 2025.
Outlook and guidance
Fiscal 2025 revenue guidance tightened to $174–$177 million, midpoint $175.5 million, up from $172 million in FY24.
Q4 revenue expected between $39–$42 million, reflecting seasonally low Mobile Deposit revenue.
Full-year adjusted EBITDA margin guidance raised to 28–29% from 26–29% previously.
Fiscal 2026 strategy centers on scaling a unified platform for identity, authentication, and fraud.
What specific actions ensure durable Identity profit?
Drivers for Check Fraud Defender ACV step-up?
What 'set up' actions enable 2026 SaaS growth?
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Next Mitek Systems earnings date
Q4 202511 Dec, 2025
Next Mitek Systems earnings date
Q4 202511 Dec, 2025
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Frequently asked questions
Mitek Systems, Inc. provides mCred software and hardware solutions that securely capture data to support identity verification of mobile users by government agencies, banks and other financial institutions, and insurance companies in the United States and internationally. The company's digital authentication solutions consist of its mCred digital ID verification application and Mobile Verification Platform that uniquely combine the use of the camera technology embedded into mobile devices with risk-based identity verification.
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