Mitek Reports 2% Revenue Growth, Raises FY25 Guidance to $174-$177M

Mitek Systems reported Q3 FY25 revenue of $45.7 million, a 2% YoY increase, and raised its FY25 revenue guidance to $174-177 million. SaaS revenue grew 23% YoY to $19.3 million. GAAP net income was $2.4 million, up from $0.2 million in the prior year. Adjusted EBITDA margin increased to 28.6% from 26.9%.