Mitek Systems Inc (LTS:0K1W)

Q4 2025 Mitek Systems Inc Earnings Call Transcript

Dec 11, 2025 / 10:00 PM GMT

Release Date Price: $9.26 (-0.25%)

Transcript 8-K10-K

Key Points

Positve

Mitek Systems Inc (MITK) reported a strong fourth quarter, exceeding expectations with broad-based demand across its portfolio.
Fraud and identity now account for over half of the total business, growing more than 15% year over year, establishing it as a growth engine for revenue and SaaS expansion.
SaaS revenue growth accelerated to 21% in fiscal 2025, a significant increase from mid-single digits in fiscal 2024.
Adjusted EBITDA margins were 30%, with improved execution across go-to-market and customer delivery.
The Check Fraud Defender consortium expanded to cover over a quarter of all US checking accounts, with ACV growing 50% year over year.

Negative

Check Fraud Defender ACV for the year came in below initial goals due to the timing of large enterprise deployments.
Non-GAAP gross margin decreased by approximately 200 basis points year over year, driven by higher investment in SaaS services delivery.
Fiscal 2025 non-GAAP net income was roughly flat with fiscal 2024, despite a 15% increase in adjusted EBITDA, due to a higher non-GAAP tax rate.
Check verification revenue declined from $94 million in fiscal 2024 to $90 million in fiscal 2025, primarily due to deal timing.
There is an expected modest gross margin pressure in fiscal 2026 due to a mix shift towards SaaS and services.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MITK.OQ - Mitek Systems Inc
Q4 2025 Mitek Systems Inc Earnings Call
Dec 11, 2025 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon ladies and gentlemen and welcome to the My tech reports fiscal 2025 4th quarter and full year financial results. At this time lines are in lesson only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press 0 for an operator. This call is being recorded on Thursday, December 11, 2025, and I would now like to turn a conference over to Ryan Flanagan with ICR.

Thank you. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator. Good

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