Mitek Systems
Market Cap
US$325.0m
Last Updated
2019/11/14 23:41 UTC
Data Sources
Company Financials +
Executive Summary
Mitek Systems, Inc. develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally.
Snowflake
Fundamentals
Flawless balance sheet with reasonable growth potential.
Similar Companies
Share Price & News
How has Mitek Systems's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MITK's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-21.3%
MITK
2.0%
US Software
0.2%
US Market
1 Year Return
-20.4%
MITK
29.0%
US Software
12.2%
US Market
Return vs Industry: MITK underperformed the US Software industry which returned 29% over the past year.
Return vs Market: MITK underperformed the US Market which returned 12.2% over the past year.
Shareholder returns
| MITK | Industry | Market | |
|---|---|---|---|
| 7 Day | -21.3% | 2.0% | 0.2% |
| 30 Day | -21.2% | 3.7% | 3.5% |
| 90 Day | -19.2% | 2.5% | 6.3% |
| 1 Year | -20.4%-20.4% | 30.7%29.0% | 14.7%12.2% |
| 3 Year | 41.5%41.5% | 122.4%114.0% | 47.8%38.3% |
| 5 Year | 97.7%97.7% | 169.6%150.5% | 62.1%44.1% |
Price Volatility Vs. Market
How volatile is Mitek Systems's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 year ago | Simply Wall St
Mitek Systems Inc (NASDAQ:MITK): Time For A Financial Health Check1 year ago | Simply Wall St
Are Insiders Cautious About Mitek Systems Inc (NASDAQ:MITK) Shares?1 year ago | Simply Wall St
Why Mitek Systems Inc (NASDAQ:MITK) May Not Be As Efficient As Its IndustryValuation
Is Mitek Systems undervalued compared to its fair value and its price relative to the market?
2.9x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: MITK ($7.71) is trading above our estimate of fair value ($3.13)
Significantly Below Fair Value: MITK is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MITK is unprofitable, so we can't compare its PE Ratio to the Software industry average.
PE vs Market: MITK is unprofitable, so we can't compare its PE Ratio to the US market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MITK's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MITK is good value based on its PB Ratio (2.9x) compared to the US Software industry average (5.9x).
Next Steps
Future Growth
How is Mitek Systems forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
103.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MITK is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.7%).
Earnings vs Market: MITK is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: MITK's is expected to become profitable in the next 3 years.
Revenue vs Market: MITK's revenue (16.4% per year) is forecast to grow faster than the US market (7.3% per year).
High Growth Revenue: MITK's revenue (16.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MITK's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Mitek Systems performed over the past 5 years?
-14.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MITK has large one-off items impacting its financial results.
Growing Profit Margin: MITK's current net profit margins (-0.9%) are higher than last year (-18.6%).
Past Earnings Growth Analysis
Earnings Trend: MITK is unprofitable, and losses have increased over the past 5 years at a rate of -14.7% per year.
Accelerating Growth: Unable to compare MITK's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: MITK is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (20.8%).
Return on Equity
High ROE: MITK has a negative Return on Equity (-0.67%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Mitek Systems's financial position?
Financial Position Analysis
Short Term Liabilities: MITK's short term assets ($54.1M) exceeds its short term liabilities ($20.0M)
Long Term Liabilities: MITK's short term assets (54.1M) exceeds its long term liabilities (8.5M)
Debt to Equity History and Analysis
Debt Level: MITK is debt free.
Reducing Debt: MITK had no debt 5 years ago.
Balance Sheet
Inventory Level: MITK has a low level of unsold assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if MITK's debt is covered by short term assets.
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable MITK has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: MITK is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -23.8% per year.
Next Steps
Dividend
What is Mitek Systems's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate MITK's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate MITK's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if MITK's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if MITK's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of MITK's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
What is the CEO of Mitek Systems's salary, the management and board of directors tenure and is there insider trading?
1.0yrs
Average management tenure
CEO
Max Carnecchia (56yo)
1yrs
Tenure
Mr. Scipio Maximus Carnecchia, also known as Max, has been Chief Executive Officer and Director of Mitek Systems Inc., since November 06, 2018. Mr. Carnecchia served as the Chief Executive Officer of Illum ...
Management Age and Tenure
1.0yrs
Average Tenure
54yo
Average Age
Experienced Management: MITK's management team is not considered experienced ( 1 years average tenure), which suggests a new team.
Insider Trading
Insider Buying: MITK insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chief Technology Officer Chief Technology Officer |
| Shares | 1,425 |
| Max Price | US$9.48 |
| Entity | Individual |
| Shares | 1,425 |
| Max Price | US$9.48 |
| Entity | Individual |
| Role | Senior Key Executive GM & Senior VP of Digital Banking |
| Shares | 3,868 |
| Max Price | US$9.48 |
| Entity | Individual |
| Shares | 8,753 |
| Max Price | US$9.84 |
| Entity | Individual |
| Role | Chief Technology Officer Chief Technology Officer |
| Shares | 15,000 |
| Max Price | US$9.93 |
| Entity | Individual |
| Role | Chief Financial Officer Chief Financial Officer |
| Shares | 13,077 |
| Max Price | US$9.55 |
| Entity | Individual |
| Role | Senior Key Executive GM & Senior VP of Digital Banking |
| Shares | 3,915 |
| Max Price | US$11.00 |
| Entity | Individual |
| Shares | 7,145 |
| Max Price | US$11.60 |
| Entity | Individual |
| Role | Chief Technology Officer Chief Technology Officer |
| Shares | 11,377 |
| Max Price | US$11.17 |
| Entity | Individual |
| Shares | 29,550 |
| Max Price | US$11.12 |
| Entity | Individual |
| Shares | 42,308 |
| Max Price | US$9.41 |
| Entity | Individual |
| Role | Chief Technology Officer Chief Technology Officer |
| Shares | 12,198 |
| Max Price | US$9.41 |
| Entity | Individual |
| Role | Senior Key Executive GM & Senior VP of Digital Banking |
| Shares | 12,102 |
| Max Price | US$9.41 |
| Entity | Individual |
| Shares | 2,925 |
| Max Price | US$9.41 |
| Entity | Individual |
| Role | Chief Financial Officer Chief Financial Officer |
| Shares | 611 |
| Max Price | US$9.40 |
| Entity | Individual |
| Shares | 10,639 |
| Max Price | US$9.41 |
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 9.9%.
Management Team
Judith Hicks (55yo)
Vice President of Global People Operations
- Tenure: 0.3yrs
Jeff Davison (54yo)
Chief Financial Officer
- Tenure: 2.4yrs
- Compensation: US$626.38k
Mike Diamond (54yo)
GM & Senior VP of Digital Banking
- Tenure: 0.8yrs
- Compensation: US$723.23k
Max Carnecchia (56yo)
CEO & Director
- Tenure: 1yrs
Todd Kehrli
Investor Contacts
- Tenure: 0yrs
Steve Ritter (49yo)
Chief Technology Officer
- Tenure: 3.8yrs
- Compensation: US$1.06m
Board Members
Jim Hale (67yo)
Independent Director
- Tenure: 0yrs
- Compensation: US$165.00k
Ken Denman (60yo)
Independent Director
- Tenure: 0yrs
- Compensation: US$155.00k
Bruce Hansen (59yo)
Independent Chairman of the Board
- Tenure: 0yrs
- Compensation: US$1.02m
Bill Aulet (61yo)
Independent Director
- Tenure: 0yrs
- Compensation: US$155.00k
John Major (73yo)
Member of Advisory Board
- Tenure: 10.8yrs
Pete Hart (79yo)
Independent Director
- Tenure: 0yrs
- Compensation: US$155.00k
Victor Nichols (62yo)
Member of Advisory Board
- Tenure: 5.1yrs
Donna Wells (57yo)
Director
- Tenure: 0yrs
Max Carnecchia (56yo)
CEO & Director
- Tenure: 1yrs
Jane Thompson (67yo)
Independent Director
- Tenure: 0yrs
- Compensation: US$55.00k
Company Information
Mitek Systems, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Mitek Systems, Inc.
- Ticker: MITK
- Exchange: NasdaqCM
- Founded: 1986
- Industry: Application Software
- Sector: Software
- Market Cap: US$324.958m
- Shares outstanding: 40.37m
- Website: https://www.miteksystems.com
Number of Employees
Location
- Mitek Systems, Inc.
- 600 B Street
- Suite 100
- San Diego
- California
- 92101
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MITK | NasdaqCM (Nasdaq Capital Market) | Yes | Common Stock | US | USD | Nov 1987 |
Biography
Mitek Systems, Inc. develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company’s solutions ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/11/14 23:41 |
| End of Day Share Price | 2019/11/14 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2019/09/30 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.