Mitek Systems, Inc. (MITK) financial statements (2022 and earlier)

Company profile

Business Address 600 B STREET
SAN DIEGO, CA 92101
State of Incorp. DE
Fiscal Year End September 30
SIC 3577 - Computer Peripheral Equipment, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments161,967179,369 33,25017,47642,568
Cash and cash equivalents24,21430,312 16,7489,02812,289
Short-term investments137,753149,057 16,5028,44830,279
Receivables16,93016,602 14,93816,8217,099
Prepaid expense2,5401,920 1,4872,278 
Contract with customer, asset4,4064,080 2,350 
Other current assets2,5002,085 2,1051,0531,209
Total current assets:188,343204,056 54,13037,62850,876
Noncurrent Assets
Operating lease, right-of-use asset6,5647,056  
Property, plant and equipment3,6543,671 4,2314,665613
Long-term investments and receivables56,25548,051 1,552 3,780
Long-term investments56,25548,051 1,552 3,780
Intangible assets, net (including goodwill)88,59091,830 57,04167,3545,311
Goodwill62,30563,096 32,63634,4073,014
Intangible assets, net (excluding goodwill)26,28528,734 24,40532,9472,297
Derivative instruments and hedges42,82148,208    
Deferred income tax assets10,67710,511 16,596
Other noncurrent assets6,0976,310 2,3472,14774
Other undisclosed noncurrent assets    15,35611,065
Total noncurrent assets:214,658215,637 81,76789,52220,843
TOTAL ASSETS:403,001419,693 135,897127,15071,719
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities9,77714,283 9,96511,4885,627
Accounts payable2,5712,507 3,5553,5731,918
Employee-related liabilities7,20611,776 6,4107,9153,709
Deferred revenue8,16810,381 5,612
Restructuring reserve   1,526  
Business combination, contingent consideration, liability11,21011,050 1,0361,849 
Deferred revenue and credits3,305
Other liabilities1,6461,552 1,9092,278602
Other undisclosed current liabilities1,9701,943  4,792 
Total current liabilities:32,77139,209 20,04820,4079,534
Noncurrent Liabilities
Long-term debt and lease obligation128,636127,506    
Long-term debt, excluding current maturities122,632120,918    
Operating lease, liability6,0046,588  
Liabilities, other than long-term debt54,16560,148 8,5162,702777
Deferred revenue and credits85
Deferred revenue644955 736
Deferred income tax liabilities4,0204,117 5,555
Other liabilities6,6806,868 2,2252,702692
Derivative instruments and hedges, liabilities42,82148,208    
Other undisclosed noncurrent liabilities    8,647 
Total noncurrent liabilities:182,801187,654 8,51611,349777
Total liabilities:215,572226,863 28,56431,75610,311
Stockholders' equity
Stockholders' equity attributable to parent187,429192,830 107,33395,39461,408
Common stock4444 403834
Treasury stock, value (140)    
Additional paid in capital203,091199,935 132,160116,94478,677
Accumulated other comprehensive income (loss)(2,480)(943) (4,061)(586)147
Accumulated deficit(13,226)(6,066) (20,806)(21,002)(17,450)
Total stockholders' equity:187,429192,830 107,33395,39461,408
TOTAL LIABILITIES AND EQUITY:403,001419,693 135,897127,15071,719

Income statement (P&L) ($ in thousands)

12/31/2021
TTM
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
Revenues126,295119,797 84,59063,55945,390
Revenue, net45,390
Cost of revenue(5,719)(7,035) (5,242)(4,663)(4,041)
Cost of goods and services sold (100) (100)(100)(4,041)
Gross profit:120,576112,762 79,34858,89641,349
Operating expenses(104,007)(99,485) (83,938)(66,702)(38,580)
Operating income (loss):16,56913,277 (4,590)(7,806)2,769
Nonoperating income (expense)692654 602(935)402
Investment income, nonoperating(3,007)(4,372)    
Interest and debt expense(7,136)(5,129)    
Income (loss) from continuing operations before income taxes:10,1258,802 (3,988)(8,741)3,171
Income tax expense (benefit)(1,190)(824) 3,264(3,066)10,921
Net income (loss) available to common stockholders, diluted:8,9357,978 (724)(11,807)14,092

Comprehensive Income ($ in thousands)

12/31/2021
TTM
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
Net income (loss):8,9357,978 (724)(11,807)14,092
Comprehensive income (loss):8,9357,978 (724)(11,807)14,092
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(4,864)(620) (3,475)(733)189
Comprehensive income (loss), net of tax, attributable to parent:4,0717,358 (4,199)(12,540)14,281

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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