Mitek Systems Financials

MITK Stock  USD 13.92  0.69  5.22%   
Based on the key indicators related to Mitek Systems' liquidity, profitability, solvency, and operating efficiency, Mitek Systems is performing exceptionally good at the present time. It has a great chance to report excellent financial results in April. At this time, Mitek Systems' Property Plant And Equipment Net is quite stable compared to the past year. Net Debt is expected to rise to about 123.3 M this year, although the value of Common Stock Total Equity will most likely fall to about 26.4 K. Key indicators impacting Mitek Systems' financial strength include:
Current ValueLast YearChange From Last Year 10 Year Trend
Debt Equity Ratio0.760.79
Sufficiently Down
Pretty Stable
Current Ratio2.373.32
Way Down
Pretty Stable
The financial analysis of Mitek Systems is a critical element in measuring its lifeblood. The essential information of the day-to-day investment outlook for Mitek Systems includes many different criteria found on its balance sheet. For example, investors should never minimize Mitek Systems' ability to pay suppliers or employees on time, making sure interest payments are not accumulating or correctly timing where and how to re-invest extra cash. Any individual investor needs to monitor Mitek Systems' cash flow, debt, and profitability to effectively and accurately make more informed decisions on whether to invest in Mitek Systems.

Net Income

4.46 Million

With this module, you can analyze Mitek financials for your investing period. You should be able to track the changes in Mitek Systems individual financial statements over time to develop the understanding of its risk, liquidity, profitability, or other critical and vital indicators.
  
Understanding current and past Mitek Systems Financials, including the trends in assets, liabilities, equity and income are directly related to making proper and timely investing decisions. All of Mitek Systems' financial statements are interrelated, with each one affecting the others. For example, an increase in Mitek Systems' assets may result in an increase in income on the income statement.
Evaluating Mitek Systems' financials involves analyzing a range of financial metrics and ratios to gain insights into the company's financial health and performance. However, considering all of Mitek Systems' profitability, liquidity ratios, and efficiency indicators at the same time could be an enormous task, and our Financial Distress score can provide you with a snapshot of the Mitek Systems' relative financial performance

Chance Of Distress

Less than 1

 
100  
 
Zero
Very Small
Mitek Systems has less than 1 (%) percent chance of experiencing financial distress in the next two years of operations. The calculation of odds of distress for Mitek Systems stock is tightly coupled with the Probability of Bankruptcy. It complements the equity performance score by supplying investors with insight into company financials without requiring them to know too much about all of the complex accounting and financial indicators surrounding the entity.
Please note, Mitek Systems' odds of distress score SHOULD NOT be confused with the real chance of Mitek Systems filing for bankruptcy protection for chapters 7, 11, 12, or 13. We define Financial Distress as an operational condition where an entity such as Mitek is having difficulty meeting its current financial obligations towards its creditors or delivering on the expectations of its investors. Macroaxis derives these conditions daily from public financial statements and analysis of stock prices reacting to market conditions or economic downturns, including short-term and long-term historical volatility. Other factors considered include Mitek Systems' liquidity analysis, revenue patterns, R&D expenses, and commitments, as well as public headlines and social sentiment.
More Info
The data published in Mitek Systems' official financial statements usually reflect Mitek Systems' business processes, product offerings, services, and other fundamental events. But there are other numbers, ratios, or fundamental indicators derived from these statements that are easier to understand and visualize within the underlying realities that drive quantitative information of Mitek Systems. For example, before you start analyzing numbers published by Mitek accountants, it's critical to develop an understanding of what Mitek Systems' liquidity, profitability, and earnings quality are in the context of the Software space in which it operates.
Please note, the presentation of Mitek Systems' financial position, as portrayed in its financial statements, is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Mitek Systems' management is honest, while the outside auditors are strict and uncompromising. Whatever the case, the imprecision that can be found in Mitek Systems' accounting process means that the reasonable investor should take a skeptical approach toward the financial statement analysis of Mitek Systems. Please utilize our Beneish M Score to check the likelihood of Mitek Systems' management manipulating its earnings.

Mitek Systems Company Summary

Mitek Systems competes with Kingsoft Cloud, C3 Ai, Eventbrite, and Daily Journal. Mitek Systems, Inc. develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. Mitek Systems, Inc. was incorporated in 1986 and is based in San Diego, California. Mitek Systems operates under SoftwareApplication classification in the United States and is traded on NASDAQ Exchange. It employs 435 people.
Specialization
Information Technology, Software - Application
InstrumentUSA Stock View All
ExchangeNASDAQ Exchange
CIK Number0000807863
ISINUS6067102003
CUSIP606710200
RegionNorth America
LocationCalifornia; U.S.A
Business Address600 B Street,
SectorSoftware
IndustryInformation Technology
BenchmarkNYSE Composite
Websitewww.miteksystems.com
Phone619 269 6800
CurrencyUSD - US Dollar
You should never invest in Mitek Systems without having analyzed its financial statements. Do not rely on someone else's analysis or guesses about the future performance of Mitek Stock, because this is throwing your money away. Analyzing the key information contained in Mitek Systems' financial statements can give you an edge over other investors and help to ensure that your investments perform well for you.

Mitek Systems Key Financial Ratios

Generally speaking, Mitek Systems' financial ratios allow both analysts and investors to convert raw data from Mitek Systems' financial statements into concise, actionable information that can be used to evaluate the performance of Mitek Systems over time and compare it to other companies across industries. There are many critical financial ratios that investors are exposed to on a daily basis, but they are usually grouped into few meaningful categories from each financial statement that Mitek Systems reports annually and quarterly.

Mitek Systems Key Balance Sheet Accounts

201920202021202220232024 (projected)
Total Assets135.9M169.2M419.3M360.4M414.5M435.2M
Other Current Liab2.9M10.7M23.6M20.0M23.0M24.2M
Net Debt(16.1M)(12.8M)99.1M102.1M117.4M123.3M
Retained Earnings(20.8M)(14.0M)(5.6M)(18.0M)(16.2M)(17.0M)
Net Receivables17.3M20.8M20.7M34.1M39.3M41.2M
Other Current Assets2.1M2.0M2.1M2.6M3.0M3.2M
Total Liab28.6M36.9M226.0M190.1M218.6M229.5M
Total Current Assets54.1M84.1M204.1M129.1M148.5M155.9M
Short Term Debt7.9M1.8M1.9M2.1M2.4M2.7M
Accounts Payable3.6M3.9M2.5M5.0M5.7M6.0M
Cash16.7M20.0M30.3M32.1M36.9M38.7M
Other Liab10.8M8.1M6.6M60.1M69.1M72.5M
Other Assets17.5M18.9M19.1M65.0M74.8M78.5M
Common Stock38K40K42K44K50.6K28.2K
Intangible Assets24.4M19.3M28.7M75.8M87.1M91.5M
Net Tangible Assets28.0M50.3M77.3M101.8M117.1M123.0M
Good Will32.6M35.7M62.7M120.2M138.2M145.1M

Mitek Systems Key Income Statement Accounts

An income statement is very similar to a cash flow statement, but instead of showing net revenue minus expenses, it only includes earnings before interest and taxes (EBIT). This number does not have all of the same line items that are on a cash flow statement, but it leaves out non-cash expenses like depreciation and amortization. For example, if you bought $100 worth of goods from Walmart (WMT) using your debit card that has an interest rate of 20%, then paid off the balance at the end of the month with a credit card that charges 30% interest, you would have an income statement showing EBIT of $80 because your expenses are lower than the amount that went into your pocket. The other reason investors look at the income statement is to determine what Mitek Systems' earnings per share (EPS) will be in order to see if they want to buy more shares or not. For example, if a company earned $20 million in the last quarter and has 100,000 shares outstanding, its EPS is 20 cents. If you find that this number beats analysts' forecasts or is higher than it was from the same period last year, then you might want to buy more of this stock even though its price per share may not have changed.
201920202021202220232024 (projected)
Interest Expense5.5M769K5.1M8.2M7.4M8.5M
Total Revenue101.3M119.8M144.8M143.9M165.5M173.8M
Gross Profit88.1M105.3M124.8M123.9M142.5M149.7M
Operating Income8.9M13.7M14M27.6M31.7M33.3M
Ebit1.5M8.9M13.7M27.6M31.7M33.3M
Ebitda15.2M22.9M11.0M27.9M32.1M33.7M
Cost Of Revenue12.3M13.2M14.5M20.0M23.0M24.2M
Net Income(724K)7.8M8.0M3.7M4.2M4.5M
Income Tax Expense(3.3M)1.6M824K(295K)(265.5K)(278.8K)
Income Before Tax9.4M9.2M3.6M2.7M3.1M3.3M
Research Development19.0M22.9M28.0M30.2M34.7M36.5M
Tax Provision1.6M824K(92K)2.3M2.7M2.8M

Mitek Systems Key Cash Accounts

Cash flow analysis captures how much money flows into and out of Mitek Systems. It measures of how well Mitek is doing because it can show the actual money that comes into and out of the Company from sales instead of measuring expenses against revenue to determine earnings. You have to read the cash flow statement in three sections. The first section shows how much money Mitek Systems brought in, usually known as net revenue or sales. This is different from earnings because it does not include expenses when determining net revenue for use on this part of the cash flow statement. Next, are operating activities, which show how much money Mitek had leftover after paying for its expenses. This number can be calculated in two ways: by subtracting the total of all operating expenses from net revenue or by adding up changes to cash and other assets or liabilities on this part of the statement. The third section is about investing activities, which shows what Mitek Systems has done with the money that it received from the sale of assets or what it spent to acquire new ones. This section can be broken down into two parts: investing in existing businesses (in other words, buying more stock) and investing in non-business activities like paying off debt or making acquisitions.
201920202021202220232024 (projected)
Change To Inventory(2.4M)(6.3M)2.7M(1.7M)(1.5M)(1.4M)
Change In Cash7.7M3.2M10.3M1.7M2.0M1.1M
Free Cash Flow13.2M23.3M36.0M25.2M29.0M30.5M
Depreciation7.9M8.9M14.5M14.9M17.2M18.0M
Other Non Cash Items199K6.7M5.7M7.4M8.5M8.9M
Capital Expenditures1.1M803K1.4M1.1M1.3M1.4M
Net Income(724K)7.8M8.0M3.0M3.5M3.7M
End Period Cash Flow16.7M20.0M30.3M32.1M36.9M38.7M
Investments(23.9M)(156.6M)(3.5M)(6.8M)(6.1M)(6.4M)
Change To Netincome6.3M11.7M12.7M9.8M11.2M6.1M

Mitek Financial Ratios Relationships

Comparative valuation techniques use various fundamental indicators to help in determining Mitek Systems's current stock value. Our valuation model uses many indicators to compare Mitek Systems value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Mitek Systems competition to find correlations between indicators driving Mitek Systems's intrinsic value. More Info.
Mitek Systems is considered to be number one stock in ebitda category among related companies. It is regarded fifth in gross profit category among related companies fabricating about  3.77  of Gross Profit per EBITDA. At this time, Mitek Systems' EBITDA is quite stable compared to the past year.. Comparative valuation analysis is a catch-all model that can be used if you cannot value Mitek Systems by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Mitek Systems' Stock . Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Mitek Systems' earnings, one of the primary drivers of an investment's value.

Mitek Systems Systematic Risk

Mitek Systems' systematic risk plays a vital role in portfolio allocation when considering its stock to be added to a well-diversified portfolio. Mitek Systems volatility which cannot be eliminated through diversification, requires returns over the risk-free rate. Over the long run, a well-diversified portfolio provides returns that match its exposure to systematic risk. In this case, investors face a trade-off between expected returns and systematic risk and, therefore, can only reduce a portfolio's exposure to systematic risk by sacrificing expected returns on the portfolio.
The output start index for this execution was three with a total number of output elements of fifty-eight. The Beta measures systematic risk based on how returns on Mitek Systems correlated with the market. If Beta is less than 0 Mitek Systems generally moves in the opposite direction as compared to the market. If Mitek Systems Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Mitek Systems is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Mitek Systems is generally in the same direction as the market. If Beta > 1 Mitek Systems moves generally in the same direction as, but more than the movement of the benchmark.

About Mitek Systems Financials

What exactly are Mitek Systems Financials? Typically, a company's financial statements are the reports that show the financial position of the company. Three primary documents fall into the category of financial statements. These documents include Mitek Systems' income statement, its balance sheet, and the statement of cash flows. Potential Mitek Systems investors and stakeholders use financial statements to determine how well the company is positioned to perform in the future. Although Mitek Systems investors may use each financial statement separately, they are all related. The changes in Mitek Systems's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on Mitek Systems's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet, but not equivalent to net income shown on the income statement. Please read more on our technical analysis and fundamental analysis pages.

Steps to analyze Mitek Systems Financials for Investing

There are several different ways that investors can use financial statements to try and predict whether a stock price will go up or down. Unfortunately, there is no surefire formula, but there are some general guidelines you should consider when looking at the numbers. First, realize what kind of company it is so you know if its revenues are more likely to grow or shrink over time. For example, a software company's revenue is expected to increase yearly due to new products and services that its customers will want to buy. At the same time, a car manufacturer might not be able to sell as many cars when the economy slows down, so it would have less net income during those times. Second, pay attention to its debt-to-equity ratio because this number will tell you how much risk it has. If a company such as Mitek Systems is not taking on any additional risks, its debt-to-equity should be less than one. As a general rule of thumb, if the market value or book value (which can be found in the footnotes) of assets exceeds the company's liabilities, then it is probably in good shape. Finally, use other financial statements to determine if a stock price will go up or down because investors are always looking for growth opportunities when they buy new stocks. For example, if you see that the net revenue of Mitek has grown by more than 25% over the last five years, then there is a good chance that it will continue growing by at least 20% or more each year. On the other hand, if you see that net revenue has only increased by about 15%, which is barely above inflation levels, then chances are it will not grow much faster than this over time, and investors may shy away from buying it.
In summary, you can determine if Mitek Systems' financials are consistent with your investment objective using the following steps:
  • Review Mitek Systems' balance sheet accounts, such as liabilities and equity, to understand its overall financial position.
  • Analyze the income statement and examine the company's revenue, expenses, and profits over time to determine its financial performance.
  • Study the cash flow inflows and outflows to understand Mitek Systems' liquidity and solvency.
  • Look at the growth rates in revenue, earnings, and cash flow over time to determine its potential for future growth.
  • Compare Mitek Systems' financials to those of its peers to see how it stacks up and identify any potential red flags.
  • Use valuation ratios to evaluate the company's financials using commonly used ratios such as the price-to-earnings (P/E) ratio, price-to-sales (P/S) ratio, and enterprise value-to-earnings before interest, taxes, depreciation, and amortization (EV/EBITDA) ratio to determine if Mitek Systems' stock is overvalued or undervalued.
Remember, these are just guidelines and should not be the only basis for investment decisions. It is always important to analyze the leading stock market indicators., conduct additional research and seek professional advice if needed.

Mitek Systems Thematic Clasifications

Mitek Systems is part of Computers investing theme. If you are a theme-oriented, socially responsible, and at the same time, a result-driven investor, you can align your investing habits with your values without jeopardizing your expectations about returns. You can easily create an optimal portfolio of stocks, ETFs, funds, or cryptocurrencies based on a specific theme of your liking. USA Equities from Computers industry as classified by Fama & French. Fama and French investing themes focus on testing asset pricing under different economic assumptions
ComputersView
This theme covers USA Equities from Computers industry as classified by Fama & French. Fama and French investing themes focus on testing asset pricing under different economic assumptions. Get More Thematic Ideas
Today, most investors in Mitek Systems Stock are looking for potential investment opportunities by analyzing not only static indicators but also various Mitek Systems' growth ratios. Consistent increases or decreases in fundamental ratios usually indicate a possible pattern that can be successfully translated into profits. However, when comparing two companies, knowing each company's growth growth rates may not be enough to decide which company is a better investment. That's why investors frequently use static breakdown of Mitek Systems growth as a starting point in their analysis.

Price Earnings To Growth Ratio

0.57

At this time, Mitek Systems' Price Earnings To Growth Ratio is quite stable compared to the past year.

Mitek Systems March 28, 2024 Opportunity Range

Along with financial statement analysis, the daily predictive indicators of Mitek Systems help investors to analyze its daily demand and supply, volume, patterns, and price swings to determine the real value of Mitek Systems. We use our internally-developed statistical techniques to arrive at the intrinsic value of Mitek Systems based on widely used predictive technical indicators. In general, we focus on analyzing Mitek Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Mitek Systems's daily price indicators and compare them against related drivers.
When determining whether Mitek Systems is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Mitek Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Mitek Systems Stock. Highlighted below are key reports to facilitate an investment decision about Mitek Systems Stock:
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mitek Systems. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in estimate.
For more information on how to buy Mitek Stock please use our How to buy in Mitek Stock guide.
You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.

Complementary Tools for Mitek Stock analysis

When running Mitek Systems' price analysis, check to measure Mitek Systems' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Mitek Systems is operating at the current time. Most of Mitek Systems' value examination focuses on studying past and present price action to predict the probability of Mitek Systems' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Mitek Systems' price. Additionally, you may evaluate how the addition of Mitek Systems to your portfolios can decrease your overall portfolio volatility.
Correlation Analysis
Reduce portfolio risk simply by holding instruments which are not perfectly correlated
Theme Ratings
Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance
Positions Ratings
Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance
Investing Opportunities
Build portfolios using our predefined set of ideas and optimize them against your investing preferences
Latest Portfolios
Quick portfolio dashboard that showcases your latest portfolios
Funds Screener
Find actively-traded funds from around the world traded on over 30 global exchanges
Watchlist Optimization
Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm
Transaction History
View history of all your transactions and understand their impact on performance
Analyst Advice
Analyst recommendations and target price estimates broken down by several categories
AI Portfolio Architect
Use AI to generate optimal portfolios and find profitable investment opportunities
USA ETFs
Find actively traded Exchange Traded Funds (ETF) in USA
Is Mitek Systems' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Mitek Systems. If investors know Mitek will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Mitek Systems listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
10.323
Earnings Share
0.17
Revenue Per Share
3.79
Quarterly Revenue Growth
(0.05)
Return On Assets
0.0343
The market value of Mitek Systems is measured differently than its book value, which is the value of Mitek that is recorded on the company's balance sheet. Investors also form their own opinion of Mitek Systems' value that differs from its market value or its book value, called intrinsic value, which is Mitek Systems' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Mitek Systems' market value can be influenced by many factors that don't directly affect Mitek Systems' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Mitek Systems' value and its price as these two are different measures arrived at by different means. Investors typically determine if Mitek Systems is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Mitek Systems' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.