Mitek Systems (FRA:MKQ) Receivables Turnover : 1.08 (As of Dec. 2023)

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What is Mitek Systems Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Mitek Systems's Revenue for the three months ended in Dec. 2023 was €33.9 Mil. Mitek Systems's average Accounts Receivable for the three months ended in Dec. 2023 was €31.2 Mil. Hence, Mitek Systems's Receivables Turnover for the three months ended in Dec. 2023 was 1.08.

Mitek Systems Receivables Turnover Historical Data

The historical data trend for Mitek Systems's Receivables Turnover 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 Receivables Turnover Chart

Mitek Systems Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Receivables Turnover

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5.49

6.41

7.44

5.80

4.87

Mitek Systems Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Receivables Turnover	Get a 7-Day Free Trial															1.37	1.43	1.16	1.09	1.08

Competitive Comparison of Mitek Systems's Receivables Turnover

For the Software - Application subindustry, Mitek Systems's Receivables Turnover, along with its competitors' market caps and Receivables Turnover 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 Receivables Turnover Distribution in the Software Industry

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

* The bar in red indicates where Mitek Systems's Receivables Turnover falls into.

Mitek Systems Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

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

	Receivables Turnover (A: Sep. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Sep. 2023 )	/ (	(Accounts Receivable (A: Sep. 2022 )	+	Accounts Receivable (A: Sep. 2023 ))	/	count )
=	161.681	/ (	(36.281	+	30.108)	/	2 )
=	161.681	/	33.1945
=	4.87

Mitek Systems's Receivables Turnover for the quarter that ended in Dec. 2023 is calculated as

	Receivables Turnover (Q: Dec. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Dec. 2023 )	/ (	(Accounts Receivable (Q: Sep. 2023 )	+	Accounts Receivable (Q: Dec. 2023 ))	/	count )
=	33.853	/ (	(30.108	+	32.34)	/	2 )
=	33.853	/	31.224
=	1.08

Mitek Systems (FRA:MKQ) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Mitek Systems Receivables Turnover Related Terms

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Mitek Systems (FRA:MKQ) Business Description

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MITK:USA

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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