Mitek Systems Balance Sheet Health
Financial Health criteria checks 6/6
Mitek Systems has a total shareholder equity of $250.5M and total debt of $53.9M, which brings its debt-to-equity ratio to 21.5%. Its total assets and total liabilities are $368.1M and $117.5M respectively. Mitek Systems's EBIT is $35.8M making its interest coverage ratio 4.2. It has cash and short-term investments of $99.7M.
Key information
21.51%
Debt to equity ratio
US$53.88m
Debt
| Interest coverage ratio | 4.2x |
| Cash | US$99.71m |
| Equity | US$250.52m |
| Total liabilities | US$117.53m |
| Total assets | US$368.06m |
Recent financial health updates
No updates
Recent updates
Analysis Article • Sep 13
Is Mitek Systems, Inc. (NASDAQ:MITK) Potentially Undervalued?
Mitek Systems, Inc. ( NASDAQ:MITK ), might not be a large cap stock, but it saw a double-digit share price rise of over...
Narrative Update • Aug 22
MITK: Higher Future P/E Assumptions Will Support Bullish Upside Potential
Analysts have adjusted their fair value estimate for Mitek Systems from $20.00 to $26.00 as they update their models for a slightly lower revenue growth outlook, a modestly softer profit margin, a reduced discount rate, and a higher assumed future P/E multiple. What’s in the News for Mitek Systems Mitek Systems raised earnings guidance for the fiscal year ending 30 September 2026 and now expects total revenue of US$195 million to US$200 million.Analysis Article • Aug 09
Results: Mitek Systems, Inc. Beat Earnings Expectations And Analysts Now Have New Forecasts
Mitek Systems, Inc. ( NASDAQ:MITK ) defied analyst predictions to release its quarterly results, which were ahead of...
Narrative Update • Aug 07
MITK: Identity Integrations And Index Inclusion Will Support Future Upside Potential
Analysts have raised their price target on Mitek Systems from $18.50 to $21.38, citing updated assumptions around fair value, the discount rate, revenue growth, profit margin, and future P/E levels. What’s in the News for Mitek Systems Mitek Systems issued earnings guidance for the fourth quarter of fiscal 2026, with expected total revenue in a range of $42 million to $47 million.Analysis Article • Jun 27
With EPS Growth And More, Mitek Systems (NASDAQ:MITK) Makes An Interesting Case
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Narrative Update • Jun 13
MITK: FICO Integration And Higher Margins Will Support Future P/E
Analysts have lifted their price target on Mitek Systems from $17.00 to $20.00, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E multiples reflected in recent Street research. What's in the News Mitek Systems’ Verified Identity Platform is now listed on FICO Marketplace, giving enterprises using FICO Platform access to identity verification tools within their decisioning workflows.
Narrative Update • May 30
MITK: Raised Outlook Will Test Margin Resilience And Execution Discipline
Analysts have raised their price target on Mitek Systems from $13.00 to $17.00 in response to updated expectations regarding revenue growth, profit margins, and slightly lower discount rate and future P/E assumptions. Analyst Commentary Although the published price target has been raised to US$17.00, bearish analysts still point to several areas of caution around valuation, growth durability, and execution that they believe could limit upside if expectations prove too optimistic.Analysis Article • May 14
Mitek Systems' (NASDAQ:MITK) Earnings May Just Be The Starting Point
The subdued stock price reaction suggests that Mitek Systems, Inc.'s ( NASDAQ:MITK ) strong earnings didn't offer any...Narrative Update • May 13
MITK: Fraud Detection Integrations And Profitability Assumptions Will Support Future Upside Potential
Analysts recently raised their price target on Mitek Systems stock from $15.75 to $18.50, citing updated assumptions for growth and profitability, as well as a lower projected P/E that aligns with recent positive research views from firms covering the company. Analyst Commentary Recent research updates point to a mixed but constructive view on Mitek Systems, with bullish analysts focusing on potential execution and growth drivers, and more cautious voices highlighting risks around delivery and valuation support.Narrative Update • Apr 23
MITK: Updated Earnings Outlook And Fraud Tools Will Shape Future Risk Reward
Analysts have raised their price target on Mitek Systems from $13.00 to $15.75, citing updated assumptions around revenue growth, profit margins, and a lower assumed future P/E multiple reflected in recent research from firms covering the stock. Analyst Commentary Recent research updates highlight a mix of optimism and caution around Mitek Systems, centered on how the company executes on growth plans and how that aligns with its revised valuation assumptions.Analysis Article • Apr 18
When Should You Buy Mitek Systems, Inc. (NASDAQ:MITK)?
While Mitek Systems, Inc. ( NASDAQ:MITK ) might not have the largest market cap around , it led the NASDAQCM gainers...Narrative Update • Apr 07
MITK: Jefferies Upgrade And Buybacks Will Support Higher Future P/E
Analysts have reaffirmed their price target on Mitek Systems at $17.00, reflecting updated views on discount rate, revenue growth, profit margins and future P/E following recent research that includes an upgrade at a major brokerage firm. Analyst Commentary Recent research highlights a more constructive tone on Mitek Systems, with bullish analysts pointing to the reaffirmed US$17.00 price target as consistent with updated assumptions on discount rate, revenue growth, profit margins and future P/E.Narrative Update • Mar 24
MITK: Jefferies Upgrade And Buybacks Will Support Higher Future Multiple
Analysts now set their price target for Mitek Systems at $17.00, in line with the prior $17 level, citing updated assumptions around discount rate, revenue growth, profit margin, and future P/E that underpin recent research such as the upgrade at Jefferies. Analyst Commentary Recent bullish analysts highlight that the reaffirmed US$17.00 price target reflects updated assumptions around discount rate, revenue growth, profit margin, and future P/E.Narrative Update • Mar 10
MITK: Upgraded Outlook Will Likely Expose Fragile Margin Assumptions
Analysts have raised their fair value estimate for Mitek Systems to $13.00 from $11.00, citing updated assumptions around discount rates, revenue growth, profit margins, and a recalibrated future P/E that also supported a recent upgrade highlighted in Street research. Analyst Commentary While the fair value estimate has been revised to $13.00, analysts are not uniformly positive.Narrative Update • Feb 24
MITK: Jefferies Upgrade And Buybacks Will Support Higher Future Multiple
Analysts have raised their $17.00 price target for Mitek Systems, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple following recent research, including the Jefferies upgrade. Analyst Commentary Recent research has framed the higher $17.00 price target as part of a broader shift in how bullish analysts view Mitek Systems.Analysis Article • Feb 14
What Mitek Systems, Inc.'s (NASDAQ:MITK) 31% Share Price Gain Is Not Telling You
Despite an already strong run, Mitek Systems, Inc. ( NASDAQ:MITK ) shares have been powering on, with a gain of 31% in...Narrative Update • Feb 09
MITK: Share Repurchases And Guidance Will Support A Higher Future Multiple
Analysts have maintained their price target on Mitek Systems at $17.00, pointing to updated views on discount rates, revenue growth, profit margins, and a much higher assumed future P/E multiple of 61.12x that together adjust how they frame potential risk and reward for the stock. What's in the News Mitek Systems, Inc.Analysis Article • Feb 07
If EPS Growth Is Important To You, Mitek Systems (NASDAQ:MITK) Presents An Opportunity
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Jan 25
MITK: Higher Margins And Buybacks Will Support A Re Rating
Analysts have adjusted their price target on Mitek Systems from US$15 to US$17, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations as key drivers of the change. What's in the News Mitek issued earnings guidance for full year 2025, with total revenue of US$179.7 million compared to US$172.1 million a year ago and GAAP net income of US$8.8 million compared to US$3.3 million, or US$0.19 GAAP net income per diluted share compared to US$0.07 (Corporate Guidance) For the fourth quarter of 2025, the company reported total revenue of US$44.8 million compared to US$43.2 million a year ago, GAAP net income of US$1.9 million compared to US$8.6 million, and GAAP net income per diluted share of US$0.04 compared to US$0.18 (Corporate Guidance) Between July 1, 2025 and December 10, 2025, Mitek repurchased 1,029,636 shares, representing 2.26% of shares, for US$9.27 million under its existing buyback program (Buyback Tranche Update) Under the buyback announced on May 13, 2024, the company has in total repurchased 3,640,518 shares, representing 7.91% of shares, for US$36.63 million (Buyback Tranche Update) Valuation Changes Fair Value Estimate raised from US$15 to US$17 per share.Narrative Update • Jan 11
MITK: 2025 Earnings Guidance And Margin Assumptions Will Support Balanced Prospects
Analysts have made modest adjustments to their price targets on Mitek Systems, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E ratios. These revisions collectively support a refined fair value estimate of approximately $11.00 per share.Narrative Update • Dec 17
MITK: Revenue Outlook And Margin Assumptions Will Shape Balanced Future Prospects
Analysts have raised their price target on Mitek Systems to 11.00 dollars from 10.00 dollars, citing a combination of higher expected revenue growth and valuation multiples, partially offset by more conservative profit margin assumptions. What's in the News Mitek Systems issued new earnings guidance for full year 2025, targeting total revenue of 179.7 million dollars, a 4 percent increase from 172.1 million dollars a year earlier (company guidance).Analysis Article • Aug 15
Mitek Systems' (NASDAQ:MITK) Strong Earnings Are Of Good Quality
When companies post strong earnings, the stock generally performs well, just like Mitek Systems, Inc.'s ( NASDAQ:MITK...Analysis Article • Aug 09
Mitek Systems, Inc.'s (NASDAQ:MITK) Prospects Need A Boost To Lift Shares
With a price-to-sales (or "P/S") ratio of 2.5x Mitek Systems, Inc. ( NASDAQ:MITK ) may be sending bullish signals at...
New Narrative • Feb 10
MiVIP Integration And Fraud Solutions Will Boost Future Operational Efficiency
Mitek's strategies for SaaS revenue growth and automation aim to boost stability, improve unit economics, and enhance margins.Seeking Alpha • Dec 17
Mitek Systems Earnings: Strong Q4 Results Propel Stock Higher
Summary Mitek Systems is a cyber fraud player with strong free cash flow, trading at a compelling 15x forward free cash flow valuation. The new CEO's strategic initiatives and potential double-digit revenue growth by fiscal 2026 could drive significant upside. The company’s robust EBITDA margins and manageable net debt position support the bullish outlook. Key MITK risks include the new CEO's learning curve, competitive pressures, and slower growth in core products like mobile check deposit. Read the full article on Seeking AlphaAnalysis Article • Aug 31
The Market Doesn't Like What It Sees From Mitek Systems, Inc.'s (NASDAQ:MITK) Revenues Yet As Shares Tumble 30%
Mitek Systems, Inc. ( NASDAQ:MITK ) shareholders that were waiting for something to happen have been dealt a blow with...Analysis Article • Jul 17
Market Still Lacking Some Conviction On Mitek Systems, Inc. (NASDAQ:MITK)
You may think that with a price-to-sales (or "P/S") ratio of 3.5x Mitek Systems, Inc. ( NASDAQ:MITK ) is a stock worth...Financial Position Analysis
Short Term Liabilities: MITK's short term assets ($167.9M) exceed its short term liabilities ($61.2M).
Long Term Liabilities: MITK's short term assets ($167.9M) exceed its long term liabilities ($56.3M).
Debt to Equity History and Analysis
Debt Level: MITK has more cash than its total debt.
Reducing Debt: MITK's debt to equity ratio has reduced from 63.9% to 21.5% over the past 5 years.
Debt Coverage: MITK's debt is well covered by operating cash flow (99.7%).
Interest Coverage: MITK's interest payments on its debt are well covered by EBIT (4.2x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/21 11:37 |
| End of Day Share Price | 2026/09/21 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/09/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Mitek Systems, Inc. is covered by 13 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Thomas McCrohan | Brean Capital Historical (Janney Montgomery) |
| Joel Fishbein | BTIG |
| David Scharf | Citizens JMP Securities, LLC |