Mitek Systems (Mitek Systems) Days Payable : 146.41 (As of Dec. 2023)

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What is Mitek Systems Days Payable?

Mitek Systems's average Accounts Payable for the three months ended in Dec. 2023 was $8.9 Mil. Mitek Systems's Cost of Goods Sold for the three months ended in Dec. 2023 was $5.5 Mil. Hence, Mitek Systems's Days Payable for the three months ended in Dec. 2023 was 146.41.

The historical rank and industry rank for Mitek Systems's Days Payable or its related term are showing as below:

MITK' s Days Payable Range Over the Past 10 Years
Min: 68.24 Med: 110.71 Max: 311.64
Current: 115.42

During the past 13 years, Mitek Systems's highest Days Payable was 311.64. The lowest was 68.24. And the median was 110.71.

MITK's Days Payable is ranked better than
72.63% of 2525 companies
in the Software industry
Industry Median: 50.55 vs MITK: 115.42

Mitek Systems's Days Payable increased from Dec. 2022 (99.49) to Dec. 2023 (146.41). It may suggest that Mitek Systems delayed paying its suppliers.

Mitek Systems Days Payable Historical Data

The historical data trend for Mitek Systems's Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Mitek Systems Days Payable Chart

Mitek Systems Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Days Payable

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106.05

103.26

80.53

68.24

99.90

Mitek Systems Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Days Payable	Get a 7-Day Free Trial															99.49	89.22	105.32	111.46	146.41

Competitive Comparison of Mitek Systems's Days Payable

For the Software - Application subindustry, Mitek Systems's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mitek Systems's Days Payable Distribution in the Software Industry

For the Software industry and Technology sector, Mitek Systems's Days Payable distribution charts can be found below:

* The bar in red indicates where Mitek Systems's Days Payable falls into.

Mitek Systems Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Mitek Systems's Days Payable for the fiscal year that ended in Sep. 2023 is calculated as

	Days Payable (A: Sep. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Sep. 2022 )	+	Accounts Payable (A: Sep. 2023 ))	/	count )	/	Cost of Goods Sold (A: Sep. 2023 )	*	Days in Period
=	( (4.974	+	7.589)	/	2 )	/	22.951	*	365
=	6.2815					/	22.951	*	365
=	99.90

Mitek Systems's Days Payable for the quarter that ended in Dec. 2023 is calculated as:

	Days Payable (Q: Dec. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Sep. 2023 )	+	Accounts Payable (Q: Dec. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
=	( (7.589	+	10.169)	/	2 )	/	5.534	*	365 / 4
=	8.879					/	5.534	*	365 / 4
=	146.41

Mitek Systems Days Payable Related Terms

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Mitek Systems (Mitek Systems) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Mitek Systems Inc (NAS:MITK) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

MKQ:Germany MKQ:Germany

Address

600 B Street, Suite 100, San Diego, CA, USA, 92101

Website

https://www.miteksystems.com

Mitek Systems Inc is engaged in the development, sale, and service of proprietary software solutions related to mobile imaging. The firm is a software development company with expertise in artificial intelligence, and machine learning. It is serving more than 7,800 financial services organizations and leading marketplace and financial technology brands across the globe. Mitek's Mobile Deposit solution is used by consumers for mobile check deposits. The company's Mobile Verify verifies a user's identity online enabling organizations to build safer digital communities, whereas CheckReader enables financial institutions to automatically extract data from a check image received across any deposit channel - branch, ATM, RDC, and mobile.

Executives

Christopher H Briggs	other: SVP Identity	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Michael E Diamond	other: General Manager	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Scipio Maximus Carnecchia	director, officer: CEO & Director	C/O MITEK SYSTEMS, INC., 600 B STREET, SUITE 100, SAN DIEGO CA 92101
Fuad Ahmad	officer: Interim CFO	461 SOUTH MILPITAS BLVD., MILPITAS CA 95035
Frank Teruel	officer: CFO	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Stephen Ritter	officer: Chief Technology Officer	600 B STREET SUITE 100, SAN DIEGO CA 92101
Jason Gray	officer: GC, Secretary & Admin Officer	600 B STREET SUITE 100, SAN DIEGO CA 92101
Scott Adam Marcus	officer: General Counsel	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Rahul Gupta	director	255 FISERV DRIVE, BROOKFIELD WI 53045
Susan Repo	director	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Scott R Carter	director	8911 BALBOA AVENUE, SUITE B, SAN DIEGO CA 92123
William K Aulet	director	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Jeffrey C Davison	officer: Chief Financial Officer	600 B STREET, SUITE 100, SAN DIEGO CA 92101
Jane J. Thompson	director	628 GREEN VALLEY ROAD, SUITE 500, GREENSBORO NC 27408
Alex W Hart	director	600 B STREET, SUITE 100, SAN DIEGO CA 92101