Mitek Systems Full Year 2024 Earnings: Beats Expectations

Mitek Systems (NASDAQ:MITK) Full Year 2024 Results

Key Financial Results

• Revenue: US$172.1m (flat on FY 2023).
• Net income: US$3.28m (down 59% from FY 2023).
• Profit margin: 1.9% (down from 4.7% in FY 2023).
• EPS: US$0.07 (down from US$0.18 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Mitek Systems Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are up 20% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Mitek Systems, and understanding them should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.