Mitek Systems Q3 revenue beats estimates, lifts FY outlook
MITK•Growth drivers
- Fraud & Identity SaaS growth — The company said Q3 results were driven by 37% year-over-year growth in Fraud & Identity SaaS revenue as more institutions adopted its solutions to counter AI-driven fraud.
- Consortium network expansion — Mitek cited the milestone of a top five U.S. bank joining its consortium data network and an expanded partner and reseller channel as supporting growth.
- Identity platform execution — The company said execution across both its consortium network and identity platform contributed to growth.
Key figures and analyst view
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q3 Revenue | $54.04 million | $50.82 million |
| Q3 EPS | $0.17 | — |
| Q3 Net Income | $8.37 million | — |
| Q3 Operating Income | $11.54 million | — |
| Q3 Pretax Profit | $11.17 million | — |
The current average analyst rating on the shares is , with 5 or ratings, no ratings and no or ratings. The median 12-month price target is , about its August 5 closing price of .
