Why did Mitek Systems stock pop on Friday?

Mitek Systems' stock rose significantly on Friday because its fiscal fourth-quarter earnings exceeded investor expectations.

What was the revenue growth for Mitek Systems?

Mitek Systems reported a 4% year-over-year increase in total revenue, with a notable 19% rise in software-as-a-service revenue.

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Mitek Stock Soars on Strong Earnings Beat

Q: What is Mitek Systems' fiscal 2026 forecast?

Mitek Systems projects total revenue between $185 million and $195 million with adjusted EBITDA margins of 27% to 30% for fiscal 2026.

13 Dec

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Summary

Mitek's stock price increased by over 8% following positive fiscal results.
Software-as-a-service revenue saw a significant 19% year-over-year increase.
The company provided a bullish forecast for fiscal 2026 revenue and margins.

Mitek Stock Soars on Strong Earnings Beat

Mitek Systems' stock saw a notable increase of over 8% by the close of trading on Friday, following the release of its fiscal fourth-quarter earnings report. The company, specializing in identity verification and fraud prevention, exceeded investor expectations.

Driving this positive market reaction was a 19% year-over-year rise in Mitek's software-as-a-service (SaaS) revenue, which reached $21.3 million. While overall revenue grew 4% to $44.8 million for the quarter ending September 30, investments in growth led to a 16% decline in EBITDA. Despite this, adjusted earnings per share of $0.24 outperformed Wall Street's projections.

Looking ahead, Mitek's management issued an optimistic forecast for fiscal 2026, anticipating total revenue between $185 million and $195 million, with adjusted EBITDA margins projected at 27% to 30%. The company's strategic focus is on unifying identity, authentication, and fraud solutions to enhance SaaS adoption and ensure sustainable, profitable growth.