Mitek is a global leader in mobile capture and identity verification software solutions. The Company offers Mobile Deposit, a software that allows users to remotely deposit a check using their camera-equipped smartphones or tablets; Mobile Photo Account Opening, a product, which enables users to open a checking, savings, or credit card account by capturing an image of the front and back of their drivers license; and Mobile Photo Payments, a mobile direct bill pay solution that enables users to pay bills by taking a photo of their bill followed by a photo of the check or credit/debit card being used to pay the bill. It also provides Mobile Photo Bill Pay, a mobile bill payment product, which allows users to pay their bills using their camera-equipped smartphone or tablet; and Mobile Balance Transfer that allows credit card issuers to transfer an existing credit card balance by capturing an image of the users current credit card statement, as well as maintenance and support services.
Company Growth (employees)
Key People at Mitek Systems
Russell C. Clark
Mitek Systems Office Locations
Mitek Systems Data and Metrics
Mitek Systems Financial Metrics
Revenue (FY, 2016) | 34.7 m |
Revenue growth (FY, 2015 - FY, 2016), % | 37% |
Gross profit (FY, 2016) | 31.3 m |
Gross profit margin (FY, 2016), % | 90% |
Net income (FY, 2016) | 2 m |
EBIT (FY, 2016) | 1.8 m |
Market capitalization (21-Jul-2017) | 360.3 m |
Cash (30-Sep-2016) | 9 m |
EV | 351.3 m |
- Source: SEC Filings
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Revenue | 14.8 m | 19.2 m | 25.4 m | 34.7 m |
Revenue growth, % | 29% | 32% | 37% | |
Cost of goods sold | 1.6 m | 2.1 m | 2.5 m | 3.4 m |
Gross profit | 13.2 m | 17 m | 22.9 m | 31.3 m |
Gross profit Margin, % | 89% | 89% | 90% | 90% |
Sales and marketing expense | 5.9 m | 6.8 m | 6.5 m | 10.9 m |
R&D expense | 6.8 m | 6 m | 5.6 m | 7.8 m |
General and administrative expense | 7.9 m | 9.6 m | 7.6 m | 8.6 m |
Operating expense total | 22.1 m | 24.6 m | 23.5 m | 32.9 m |
EBIT | (7.3 m) | (5.4 m) | 1.9 m | 1.8 m |
EBIT margin, % | (49%) | (28%) | 7% | 5% |
Pre tax profit | (7.3 m) | (5.3 m) | 2 m | 2 m |
Income tax expense | 1.1 k | 2 k | 543 k | 1 k |
Net Income | (7.3 m) | (5.3 m) | 2.5 m | 2 m |
- Source: SEC Filings
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Cash | 23.3 m | 7.8 m | 2.8 m | 9 m |
Accounts Receivable | 1.5 m | 3 m | 3.9 m | 4.9 m |
Current Assets | 31.2 m | 27.7 m | 31.4 m | 40.3 m |
PP&E | 1.6 m | 1.3 m | 975.3 k | 440 k |
Goodwill | 2.9 m | 2.9 m | ||
Total Assets | 32.9 m | 31.1 m | 38.7 m | 48.4 m |
Accounts Payable | 1.9 m | 1.8 m | 1.5 m | 1.3 m |
Current Liabilities | 5.8 m | 6.2 m | 7.4 m | 8.3 m |
Total Liabilities | 7.1 m | 7.2 m | 8.3 m | 8.9 m |
Additional Paid-in Capital | 56.4 m | 59.9 m | 63.9 m | 71 m |
Retained Earnings | (30.7 m) | (36 m) | (33.5 m) | (31.5 m) |
Total Equity | 25.7 m | 23.9 m | 30.4 m | 39.5 m |
EPS | (0.3) | (0.2) | 0.1 | 0.1 |
Financial Leverage | 1.3 x | 1.3 x | 1.3 x | 1.2 x |
| USD | FY, 2013 | FY, 2014 | FY, 2015 | FY, 2016 |
|---|---|---|---|---|
Net Income | (7.3 m) | (5.3 m) | 2.5 m | 2 m |
Depreciation and Amortization | 323.4 k | 470.7 k | 605.7 k | 1.4 m |
Accounts Receivable | (391.5 k) | (1.5 m) | (566.1 k) | (1 m) |
Accounts Payable | 1.2 m | (83.6 k) | (448.8 k) | (222 k) |
Cash From Operating Activities | (615.1 k) | (2.5 m) | 6.1 m | 7.9 m |
Purchases of PP&E | (1.5 m) | (135.5 k) | (73.1 k) | (250 k) |
Cash From Investing Activities | 570.9 k | (13.1 m) | (11.3 m) | (3.3 m) |
Cash From Financing Activities | 16.6 m | 51.4 k | 225.5 k | 1.7 m |
Interest Paid | 8.1 k | 6.1 k | 3.9 k | 1 k |
Income Taxes Paid | 1.1 k | 2.2 k | 104.9 k | 17 k |
| Y, 2016 | |
|---|---|
EV/EBIT | 192.6 x |
EV/CFO | 44.7 x |
Financial Leverage | 1.2 x |
Mitek Systems Operating Metrics
- Source: SEC FIlings
