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Mitek Systems

OverviewSuggest Edit

Mitek is a company specializing 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. Its ID document verification engine is a cloud-based platform, utilizing AI technology — computer vision, machine learning, and deep learning — to provide online identification verification and authenticate government-issued identity documents, like passports, ID cards, and driver's licenses.

TypePublic
Founded1985
HQSan Diego, CA, USMap
Websitemiteksystems.com
Employee Ratings3.9More
Overall CultureFMore
View Jobs (9)

Recent NewsAll News

Latest Updates

Employees (est.) (Sept 2019)272(-7%)
Job Openings9
Revenue (FY, 2019)$84.6 M(+34%)
Share Price (Jun 2021)$18.8
Cybersecurity ratingAMore

Key People/Management at Mitek Systems

Max Carnecchia

Max Carnecchia

CEO and Board Member
Jeff Davison

Jeff Davison

Chief Financial Officer
Stephen Ritter

Stephen Ritter

Chief Technology Officer
Michael Diamond

Michael Diamond

General Manager, SVP Digital Banking
Cindy White

Cindy White

Chief Marketing Officer
Bruce Hansen

Bruce Hansen

Chairman of the Board
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Mitek Systems Office Locations

Mitek Systems has offices in San Diego, New York, Paris, Amsterdam and in 2 other locations
San Diego, CA, US (HQ)
Comerica Bank Building, 600 B St #100
New York, NY, US
1350 Broadway #605
Paris, FR
39 Rue de la Bienfaisance
Amsterdam, NL
Radarweg 60
Barcelona, ES
Ronda Can Fatjó, 11 Edificio A1 Planta 1
London, GB
Brandon House, 180 Borough High St, Camberwell
Show all (6)

Mitek Systems Financials and Metrics

Mitek Systems Revenue

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View revenue for all periods
Mitek Systems's revenue was reported to be $84.59 m in FY, 2019 which is a 33.1% increase from the previous period.
USD

Revenue (Q1, 2021)

26.0m

Net income (Q1, 2021)

2.2m

EBIT (Q1, 2021)

1.5m

Market capitalization (11-Jun-2021)

809.8m

Closing stock price (11-Jun-2021)

18.8

Cash (31-Dec-2020)

26.7m

EV

789.9m
Mitek Systems's current market capitalization is $809.8 m.
Annual
USDFY, 2017FY, 2018FY, 2019

Revenue

45.4m63.6m84.6m

Revenue growth, %

40%33%

Cost of goods sold

4.0m8.7m12.3m

Gross profit

41.3m54.9m72.3m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Revenue

12.1m14.3m16.1m17.7m20.0m21.9m22.1m23.2m25.4m26.0m

Cost of goods sold

1.6m1.7m2.7m2.9m3.0m3.2m2.9m3.2m3.5m

Gross profit

10.5m12.6m13.4m14.8m17.0m18.7m19.1m20.0m21.9m

Gross profit Margin, %

87%88%83%84%85%86%87%86%86%
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Annual
USDFY, 2017FY, 2018FY, 2019

Cash

12.3m9.0m16.7m

Accounts Receivable

7.1m16.8m14.9m

Prepaid Expenses

1.2m2.3m1.5m

Current Assets

50.9m37.6m54.1m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Cash

6.3m25.2m8.6m10.4m18.7m16.1m14.8m16.9m18.9m26.7m

Accounts Receivable

5.7m7.8m12.1m12.8m11.9m14.6m12.9m13.7m12.9m12.7m

Prepaid Expenses

3.1m3.4m4.6m2.1m2.1m1.8m2.0m1.6m2.0m1.5m

Current Assets

47.1m55.5m34.7m37.1m41.1m47.5m51.8m55.4m69.0m87.5m
show all
Annual
USDFY, 2017FY, 2018FY, 2019

Net Income

14.1m(11.8m)(724.0k)

Depreciation and Amortization

913.0k4.6m8.4m

Accounts Payable

593.0k309.0k28.0k

Cash From Operating Activities

10.4m5.6m14.3m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021

Net Income

(5.7m)(6.9m)(9.7m)(3.2m)(3.9m)(4.0m)560.0k1.5m2.8m2.2m

Depreciation and Amortization

575.0k1.3m2.5m2.1m4.2m6.3m2.0m3.9m5.9m2.1m

Accounts Payable

307.0k(367.0k)596.0k943.0k(435.0k)28.0k677.0k(635.0k)724.0k(501.0k)

Cash From Operating Activities

2.6m3.6m4.1m2.3m6.6m7.9m5.2m8.4m17.4m8.7m
show all
USDFY, 2017

Revenue/Employee

326.5k

Financial Leverage

1.2 x
Show all financial metrics

Mitek Systems Operating Metrics

Mitek Systems's Enterprise Customers was reported to be 6.5 k in FY, 2019.
FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019

Enterprise Customers

3.03 k4.5 k5.4 k5.9 k6.1 k6.5 k

Patents (US)

202227354957

Patents Pending

2316162125

Trademarks

19153838
Show all operating metrics

Mitek Systems Acquisitions / Subsidiaries

Company NameDateDeal Size
A2iaMay 23, 2018$26.8 m
ICAROctober 16, 2017$13.9 m
IDcheckerMay 26, 2015$10.6 m
A2iA Group II, S.A.S.
ICAR Vision Systems, S.L.
Mitek Holding B.V.
MITEK SYSTEMS PRIVATE LIMITED

Mitek Systems Revenue Breakdown

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Mitek Systems revenue breakdown by business segment: 55.4% from Software and Hardware and 44.6% from Service and Others

Mitek Systems Cybersecurity Score

Cybersecurity ratingPremium dataset

A

91/100

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Mitek Systems Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

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Mitek Systems Online and Social Media Presence

Mitek Systems's Trends

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Mitek Systems Company Culture

  • Overall Culture

    F

    45/100

  • CEO Rating

    C

    70/100

  • Compensation

    C

    70/100

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Mitek Systems News and Updates

November 26, 2020

Mitek Systems Inc. (MITK) Soars 3.07% on November 26

Mitek Systems Inc. is a Mitek Systems Inc offers mobile capture and identity verification software solutions for enterprises.
November 24, 2020

Mitek Systems, Inc. (NASDAQ:MITK) CFO Jeffrey C. Davison Sells 1,612 Shares

Mitek Systems, Inc. (NASDAQ:MITK) CFO Jeffrey C. Davison sold 1,612 shares of Mitek Systems stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $11.77, for a total transaction of $18,973.24. Following the sale, the chief financial officer now owns 172,765 shar…
November 22, 2020

Mitek Systems – Consensus Indicates Potential 34.4% Upside

Mitek Systems with ticker code (MITK) have now 3 analysts covering the stock with the consensus suggesting a rating of ‘Strong_Buy’. The range between the high target price and low target price is between 17 and 16 with the average target price sitting at 16.33. With the stocks previous close at 12.…
November 12, 2020

Zacks Investment Research Downgrades Mitek Systems (NASDAQ:MITK) to Sell

Mitek Systems (NASDAQ:MITK) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report issued on Thursday, Zacks.com reports.
November 09, 2020

Mitek to Participate in the Benchmark Company Technology Virtual 1x1 Investor Conference on November 12, 2020

Mitek (NASDAQ: MITK), a global leader in mobile capture and digital identity verification solutions, today announced it has been invited to participate at the Benchmark Company Technology Virtual 1x1 Investor Conference on November 12, 2020.
November 05, 2020

Mitek Systems (MITK) Gets a Buy Rating from Northland Securities

In a report released yesterday, Michael Grondahl from Northland Securities maintained a Buy rating on Mitek Systems (MITK), with a price target of $16.00. The company’s shares closed last Thursday at $14.42, close to its 52-week high of $14.50.
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Mitek Systems Blogs

June 08, 2021

Costs and benefits of authentication

Learn all about multi-factor authentication, and some advantages and disadvantages of using this form of authentication. Find out now!
June 03, 2021

Mitek continues to innovate with Check Intelligence

Essential for every business is the use of software that ensures not only fast and accurate automated check processing, but the ability to create a streamlined, integrated workflow driving exceptional ROI, all while increasing fraud detection and complying with Check 21 requirements.
May 05, 2021

Marketplace & Gig Economy Fraud

Over the past year, the gig economy has seen a soar in demand as many businesses cut their budgets for full-time staff. In addition, shifts in consumer behavior to accommodate social distancing practices has increased the demand for services such as food and grocery delivery apps. On the flip side, …
April 30, 2021

How to create digital trust with digital identity technologies

Trust is the core of any successful business relationship. As the digital revolution continues to push businesses and financial industries towards digital-first services, gaining digital trust with consumers will be of utmost importance for survival. Consumers have a plethora of products and service…
April 27, 2021

Consumer trust with onboarding authentication

The digital landscape has quickly evolved during the COVID-19 pandemic.  In response, consumers are becoming more comfortable with using new technologies that enable a better online experience. Many financial institutions are adapting quickly to create better digital experiences that meet consumers'…
April 23, 2021

Generational fraud tactics: from Millennials to Boomers

Businesses adjust marketing and sales tactics all the time to target different customer demographics. Likewise, fraudsters have also taken this approach to conduct consumer fraud. The online fraud landscape is full of specialized types of targeted attacks against certain populations, referred to as …
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 Mitek Systems Frequently Asked Questions

  • When was Mitek Systems founded?

    Mitek Systems was founded in 1985.

  • Who are Mitek Systems key executives?

    Mitek Systems's key executives are Max Carnecchia, Jeff Davison and Stephen Ritter.

  • How many employees does Mitek Systems have?

    Mitek Systems has 272 employees.

  • What is Mitek Systems revenue?

    Latest Mitek Systems annual revenue is $84.6 m.

  • What is Mitek Systems revenue per employee?

    Latest Mitek Systems revenue per employee is $311 k.

  • Who are Mitek Systems competitors?

    Competitors of Mitek Systems include IDNow, Jumio and Urjanet.

  • Where is Mitek Systems headquarters?

    Mitek Systems headquarters is located at Comerica Bank Building, 600 B St #100, San Diego.

  • Where are Mitek Systems offices?

    Mitek Systems has offices in San Diego, New York, Paris, Amsterdam and in 2 other locations.

  • How many offices does Mitek Systems have?

    Mitek Systems has 6 offices.