MITK Earnings Prediction
The chart below shows how MITK performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MITK sees a -0.23% change in stock price 10 days leading up to the earnings, and a -2.40% change 10 days following the report. On the earnings day itself, the stock moves by +2.60%. This data can give you a slight idea of what to expect for the next quarter's release.
MITK Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
43.22M
14.78%
-3.90%
Gross Margin
76.95%
4.67%
-0.53%
Operating Margin
17.91%
338.48%
257.49%
Net Margin
19.83%
617.75%
4031.25%
EPS
0.17
666.67%
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No Data Available
MITK Earnings Analysis
Mitek Systems Inc Corporation (MITK.O) Earnings Conference Call
Positive
Identity Revenue Surge: Identity revenue increased by 13% year over year to $18 million, driven primarily by a 26% year over year increase in identity SaaS revenue.
SaaS Revenue Growth: Total SaaS revenue grew 29% year over year during the first quarter, with deposit SaaS revenue up 64% and identity SaaS revenue up 26%.
Q1 Adjusted EBITDA Growth: Adjusted EBITDA for Q1 reached $7.8 million, up 32% year over year, representing a 21% adjusted EBITDA margin.
Free Cash Flow Improvement: Last twelve month free cash flow conversion improved to 83%, reflecting disciplined management of non-recurring costs and positive changes in net working capital.
ACV Growth for CFD: Annual contract value (ACV) for Check Fraud Defender (CFD) approached $12 million at the end of Q1, indicating significant growth and a strong pipeline of opportunities.
Negative
Deposit Products Revenue Decline: Deposit products revenue declined 9% year over year to $19,300,000 in Q1, primarily due to a 21% decline in deposit software license revenue.
Revenue Performance Analysis: Total revenue for fiscal Q1 was slightly ahead of last year's at $37,300,000, but was impacted by a 25% decline in software and hardware sales.
Operating Expense Increase: Non GAAP operating expense for the quarter totaled $24,000,000, a sequential increase from $22,100,000 in fiscal Q4, primarily due to the annual management bonus accrual reset.
Revenue Variability Challenges: The company is facing variability in revenue phasing due to the timing of mobile deposit renewals, which can create upward and downward movement on a quarter to quarter basis.
Identity Segment Revenue Struggles: The identity segment's revenue growth is still below the targeted $80,000,000 to $85,000,000 range, indicating it remains a drag on overall margins.
MITK FAQs
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MITK Earning Call Sentiment
Earnings call transcript: Mitek Q4 2024 beats EPS estimates, stock dips
MITK.O
-0.56%Positive
The earnings call presents a mixed picture. While there is growth in identity products and SaaS revenue, and a significant share repurchase program, challenges like long sales cycles and integration risks persist. The Q&A reveals optimism but lacks specifics on revenue potential, and the slight revenue growth doesn't strongly indicate a positive trend. The neutral sentiment reflects these balanced positives and negatives.
