Mitek Systems Reports Q1 2023 Earnings, Revenue Down 9% YOY

Mitek Systems, a provider of mobile capture and identity solutions, reported Q4 2022 revenue of $25.3m, up 4.4% YoY, and a net loss of $1.3m. For FY 2022, revenue increased 4.7% to $95.6m and the net loss narrowed to $3.1m from $7.8m in 2021. The company's mobile onboarding business grew 23% YoY in Q4 and 30% in FY 2022.

Mitek Systems, Inc., a leading provider of mobile capture and identity solutions, has released its Q4 2022 and FY 2022 financial results. The company reported Q4 2022 revenue of $25.3 million, marking a 4.4% year-over-year (YoY) increase. Net loss for the quarter stood at $1.3 million. For the full fiscal year 2022, revenue grew by 4.7% to $95.6 million, while the net loss narrowed to $3.1 million from $7.8 million in 2021 [1].

Notably, Mitek's mobile onboarding business demonstrated robust growth, expanding by 23% YoY in Q4 and by 30% in FY 2022. This growth reflects the increasing demand for mobile identity verification solutions, particularly in the financial services sector.

The company's investor presentation, available on its website, provides further insights into its financial performance and strategic initiatives. The presentation highlights the company's focus on innovation and expansion in the mobile identity market [1].

Mitek Systems, Inc. continues to position itself as a key player in the mobile capture and identity solutions sector, with a strong emphasis on technological advancements and market growth opportunities.

References:

[1] https://quantisnow.com/insight/mitek-systems-inc-filed-sec-form-8k-regulation-fd-disclosure-financial-statements-and-exhibits-6069025