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Mitek Systems Gross Profit

: $90.8 Mil (TTM As of Dec. 2020)
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Mitek Systems's gross profit for the three months ended in Dec. 2020 was $21.8 Mil. Mitek Systems's gross profit for the trailing twelve months (TTM) ended in Dec. 2020 was $90.8 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. Mitek Systems's gross profit for the three months ended in Dec. 2020 was $21.8 Mil. Mitek Systems's Revenue for the three months ended in Dec. 2020 was $26.0 Mil. Therefore, Mitek Systems's Gross Margin % for the quarter that ended in Dec. 2020 was 84.07%.

Mitek Systems had a gross margin of 84.07% for the quarter that ended in Dec. 2020 => Durable competitive advantage

During the past 13 years, the highest Gross Margin % of Mitek Systems was 91.10%. The lowest was 85.50%. And the median was 88.68%.

Warning Sign:

Mitek Systems Inc gross margin has been in long term decline. The average rate of decline per year is -1.1%.


Mitek Systems Gross Profit Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Mitek Systems Annual Data
Sep11 Sep12 Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20
Gross Profit Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 31.31 41.35 54.87 72.32 88.12

Mitek Systems Quarterly Data
Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20
Gross Profit Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 19.13 20.01 21.92 27.06 21.84

Competitive Comparison
* 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.


Mitek Systems Gross Profit Distribution

* The bar in red indicates where Mitek Systems's Gross Profit falls into.



Mitek Systems Gross Profit Calculation

Gross Profit is the different between the sale prices and the cost of buying or producing the goods.

Mitek Systems's Gross Profit for the fiscal year that ended in Sep. 2020 is calculated as

Gross Profit (A: Sep. 2020 )=Revenue - Cost of Goods Sold
=101.31 - 13.192
=88.1

Mitek Systems's Gross Profit for the quarter that ended in Dec. 2020 is calculated as

Gross Profit (Q: Dec. 2020 )=Revenue - Cost of Goods Sold
=25.976 - 4.138
=21.8

Gross Profit for the trailing twelve months (TTM) ended in Dec. 2020 was 20.006 (Mar. 2020 ) + 21.917 (Jun. 2020 ) + 27.061 (Sep. 2020 ) + 21.838 (Dec. 2020 ) = $90.8 Mil.

Gross Profit is the numerator in the calculation of Gross Margin.

Mitek Systems's Gross Margin % for the quarter that ended in Dec. 2020 is calculated as

Gross Margin % (Q: Dec. 2020 )=Gross Profit (Q: Dec. 2020 ) / Revenue (Q: Dec. 2020 )
=(Revenue - Cost of Goods Sold) / Revenue
=21.8 / 25.976
=84.07 %

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.


Mitek Systems  (NAS:MITK) Gross Profit Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Mitek Systems had a gross margin of 84.07% for the quarter that ended in Dec. 2020 => Durable competitive advantage


Mitek Systems Gross Profit Related Terms


Mitek Systems Gross Profit Headlines

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