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Mitek Systems (LTS:0K1W) Interest Expense : $-9.3 Mil (TTM As of Jun. 2024)


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What is Mitek Systems Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Mitek Systems's interest expense for the three months ended in Jun. 2024 was $ -2.3 Mil. Its interest expense for the trailing twelve months (TTM) ended in Jun. 2024 was $-9.3 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Mitek Systems's Operating Income for the three months ended in Jun. 2024 was $ 1.8 Mil. Mitek Systems's Interest Expense for the three months ended in Jun. 2024 was $ -2.3 Mil. Mitek Systems's Interest Coverage for the quarter that ended in Jun. 2024 was 0.77. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Mitek Systems Interest Expense Historical Data

The historical data trend for Mitek Systems's Interest Expense 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.

* Premium members only.

Mitek Systems Interest Expense Chart

Mitek Systems Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Interest Expense
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - -5.13 -8.23 -9.06

Mitek Systems Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
Interest Expense Get a 7-Day Free Trial 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 -2.36 -2.40 -2.26 -2.30 -2.33

Mitek Systems Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Jun. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-9.3 Mil.

* 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.

Mitek Systems  (LTS:0K1W) Interest Expense Explanation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense. The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Mitek Systems's Interest Expense for the three months ended in Jun. 2024 was $-2.3 Mil. Its Operating Income for the three months ended in Jun. 2024 was $1.8 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Jun. 2024 was $143.9 Mil.

Mitek Systems's Interest Coverage for the quarter that ended in Jun. 2024 is calculated as

Interest Coverage=-1* Operating Income (Q: Jun. 2024 )/Interest Expense (Q: Jun. 2024 )
=-1*1.804/-2.329
=0.77

* 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.

The higher the ratio, the stronger the company's financial strength is.

Mitek Systems Business Description

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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.

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