Mitek Systems shares surge 18.72% premarket as earnings highlight undervaluation and enhanced digital identity solutions.

Mitek Systems surged 18.72% in premarket trading following the announcement of enhanced digital identity verification solutions, including upgraded Mobile Verify with machine learning-driven document verification and real-time identity checks. The company highlighted strategic partnerships and a focus on user privacy, positioning itself as a leader in secure, scalable verification technologies amid growing demand for digital authentication. This development aligns with Mitek’s broader strategy to address evolving industry needs and reinforce its competitive edge in the digital identity sector.