Mitek Systems shares rise 1.64% after-hours on strong Q3 revenue and SaaS growth.

Mitek Systems, Inc. rose 1.64% in after-hours trading, driven by strong Q3 revenue results that exceeded analyst expectations. The company reported a 2% year-over-year increase in revenue, with SaaS revenue growing by 23%, indicating robust demand for identity and fraud solutions. Additionally, Mitek tightened its full-year revenue guidance to $174 million-$177 million and narrowed its adjusted EBITDA margin to 28%-29%, reflecting a strategic shift towards SaaS.