NASDAQ$MITK
Mitek Systems Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Mitek reported third quarter fiscal year 2023 financial results.
Mitek's total revenue increased 10% year over year to $43.1 million. GAAP net loss was $0.4 million, or $0.01 per diluted share. Non-GAAP net income was $9.5 million, or $0.20 per diluted share.
- Total revenue increased 10% year over year to $43.1 million.
- GAAP net loss was $0.4 million, or $0.01 per diluted share.
- Non-GAAP net income was $9.5 million, or $0.20 per diluted share.
- Total cash and investments were $131.0 million.
Headline financials
Revenue & EPS history
Mitek · Revenue · Quarterly
$43.1M
Forward guidance
Mitek is reiterating its fiscal 2023 guidance for the year ending September 30, 2023, expecting revenue to be in the range of $169.0 million to $171.0 million, an increase of approximately 18% year over year from the mid-point of the guidance range. Mitek expects its non-GAAP operating margin for fiscal 2023 to be in the range of 30.0% to 31.0%.
Tailwinds
- Revenue to be in the range of $169.0 million to $171.0 million.
- Revenue to increase approximately 18% year over year from the mid-point of the guidance range.
- Deposits revenue to grow over 20% year over year.
- Identity revenue is on track to grow at least 18% year over year.
- Non-GAAP operating margin for fiscal 2023 to be in the range of 30.0% to 31.0%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.3%
Avg return
Earnings day
-1.4%
Avg return
5 days after
-2.3%
Avg return
30 days after
45%
29 / 64 earnings
Positive
+24.5%
Q4 2024
Best reaction
-24.9%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +1.5% | -9.8% | -3.3% | |
| Q1 2026 | -0.3% | +17.4% | +48.7% | |
| Q4 2025 | +4.4% | +10.8% | +15.6% | |
| Q2 2025 | +10.8% | +9.0% | +16.5% | |
| Q1 2025 | -7.8% | -9.2% | -21.1% | |
| Q4 2024 | +24.5% | +30.2% | +15.6% | |
| Q3 2024 | -24.9% | -24.9% | -23.3% | |
| Q2 2024 | +3.5% | -2.5% | -14.7% | |
| Q1 2024 | -8.5% | -16.7% | -3.1% | |
| Q4 2023 | +2.5% | +2.8% | -1.8% | |
| Q3 2023 | -1.0% | +1.7% | +6.9% | |
| Q2 2023 | -6.4% | -10.8% | -17.9% | |
| Q1 2023 | +13.7% | +6.8% | -5.6% | |
| Q4 2022 | -0.5% | +3.1% | -5.6% | |
| Q3 2022 | +18.8% | +19.1% | +12.3% | |
| Q2 2022 | -12.3% | -11.9% | -27.2% | |
| Q1 2022 | +11.0% | +8.1% | +0.1% | |
| Q4 2021 | -4.1% | -4.5% | -11.8% | |
| Q3 2021 | +14.9% | +13.0% | +15.8% | |
| Q2 2021 | -2.9% | -6.4% | +1.6% | |
| Q1 2021 | -2.8% | -8.8% | -8.1% | |
| Q4 2020 | +7.7% | -6.3% | -11.2% | |
| Q3 2020 | +2.6% | +8.9% | +27.2% | |
| Q2 2020 | -7.9% | -5.5% | -1.8% | |
| Q1 2020 | +8.4% | +2.3% | -3.2% | |
| Q4 2019 | -17.7% | -19.7% | -25.8% | |
| Q3 2019 | -7.1% | -8.4% | -15.3% | |
| Q2 2019 | -7.6% | -8.1% | -14.3% | |
| Q1 2019 | -0.7% | -0.2% | -2.5% | |
| Q4 2018 | +4.9% | +3.6% | +4.4% | |
| Q3 2018 | -13.8% | -10.6% | -5.8% | |
| Q2 2018 | +16.1% | +14.2% | +11.6% | |
| Q1 2018 | -9.3% | -16.4% | -14.8% | |
| Q4 2017 | +14.3% | +2.9% | +0.0% | |
| Q3 2017 | -3.3% | -11.8% | -6.2% | |
| Q2 2017 | +6.7% | +1.8% | +1.2% | |
| Q1 2017 | -5.4% | -10.9% | -7.0% | |
| Q4 2016 | -10.1% | -0.8% | -13.2% | |
| Q3 2016 | -3.0% | -7.6% | -0.9% | |
| Q2 2016 | +18.4% | — | — | |
| Q1 2016 | -8.1% | — | — | |
| Q4 2015 | +16.9% | — | — | |
| Q3 2015 | -4.8% | — | — | |
| Q2 2015 | -4.0% | — | — | |
| Q1 2015 | +1.5% | — | — | |
| Q4 2014 | +6.1% | — | — | |
| Q3 2014 | +1.9% | — | — | |
| Q2 2014 | -5.8% | — | — | |
| Q1 2014 | -4.2% | — | — | |
| Q4 2013 | +1.8% | — | — | |
| Q3 2013 | +10.1% | — | — | |
| Q2 2013 | -9.0% | — | — | |
| Q1 2013 | +14.3% | — | — | |
| Q4 2012 | -13.0% | — | — | |
| Q3 2012 | -1.3% | — | — | |
| Q2 2012 | -12.2% | — | — | |
| Q1 2012 | -2.6% | — | — | |
| Q1 2011 | -2.6% | — | — | |
| Q4 2011 | -6.4% | — | — | |
| Q2 2011 | -6.4% | — | — | |
| Q3 2011 | +1.9% | — | — | |
| Q3 2010 | +1.9% | — | — | |
| Q4 2010 | +13.5% | — | — | |
| Q2 2010 | +1.3% | — | — |
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