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
Q1
9/30/2021
Q4
6/30/2021
Q3
3/31/2021
Q2
12/31/2020
Q1
9/30/2020
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments161,967179,369178,851185,24966,961 
Cash and cash equivalents24,21430,31240,54953,93526,723 
Short-term investments137,753149,057138,302131,31440,238 
Receivables16,93016,60218,58314,16212,714 
Prepaid expense2,5401,9201,9882,1431,473 
Contract with customer, asset4,4064,0803,6103,5774,465 
Other current assets2,5002,0852,1632,0591,838 
Total current assets:188,343204,056205,195207,19087,451 
Noncurrent Assets
Operating lease, right-of-use asset6,5647,0567,6024,7915,122 
Property, plant and equipment3,6543,6713,5943,5023,674 
Long-term investments and receivables56,25548,05136,64334,2585,597 
Long-term investments56,25548,05136,64334,2585,597 
Intangible assets, net (including goodwill)88,59091,83095,60751,77255,746 
Goodwill62,30563,09667,05035,72837,323 
Intangible assets, net (excluding goodwill)26,28528,73428,55716,04418,423 
Derivative instruments and hedges42,82148,20854,33434,719  
Deferred income tax assets10,67710,51113,77313,96314,211 
Other noncurrent assets6,0976,3105,6505,6065,231 
Total noncurrent assets:214,658215,637217,203148,61189,581 
TOTAL ASSETS:403,001419,693422,398355,801177,032 
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities9,77714,28312,16910,4649,939 
Accounts payable2,5712,5072,6372,8783,472 
Employee-related liabilities7,20611,7769,5327,5866,467 
Deferred revenue8,16810,38111,89611,3539,742 
Business combination, contingent consideration, liability11,21011,0509,950 790 
Other liabilities1,6461,5521,660994940 
Other undisclosed current liabilities1,9701,9431,9281,7551,751 
Total current liabilities:32,77139,20937,60324,56623,162 
Noncurrent Liabilities
Long-term debt and lease obligation128,636127,506126,807122,3285,018 
Long-term debt, excluding current maturities122,632120,918119,625117,692  
Operating lease, liability6,0046,5887,1824,6365,018 
Liabilities, other than long-term debt54,16560,14869,46441,1787,099 
Deferred revenue6449556145851,154 
Deferred income tax liabilities4,0204,1177,9814,6734,924 
Other liabilities6,6806,8686,5351,2011,021 
Derivative instruments and hedges, liabilities42,82148,20854,33434,719  
Total noncurrent liabilities:182,801187,654196,271163,50612,117 
Total liabilities:215,572226,863233,874188,07235,279 
Stockholders' equity
Stockholders' equity attributable to parent187,429192,830188,524167,729141,753 
Common stock4444444343 
Treasury stock, value (140)    
Additional paid in capital203,091199,935195,942178,891151,153 
Accumulated other comprehensive income (loss)(2,480)(943)361(397)2,384 
Accumulated deficit(13,226)(6,066)(7,823)(10,808)(11,827) 
Total stockholders' equity:187,429192,830188,524167,729141,753 
TOTAL LIABILITIES AND EQUITY:403,001419,693422,398355,801177,032 

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

12/31/2021
Q1
9/30/2021
Q4
6/30/2021
Q3
3/31/2021
Q2
12/31/2020
Q1
9/30/2020
Q4
Revenues32,47333,27131,77828,77325,976(70,672)
Cost of revenue(1,181)(936)(1,510)(2,092)(2,445) 
Gross profit:31,29232,33530,26826,68123,531 
Operating expenses(26,463)(28,410)(24,836)(24,298)(21,994) 
Operating income:4,8293,9255,4322,3831,537 
Nonoperating income1351058037296 
Investment income, nonoperating(1,715)(1,292)    
Interest and debt expense(2,008)(1,586)(2,223)(1,319)  
Income from continuing operations before income taxes:2,9562,4443,2891,4361,633 
Income tax expense (benefit)168(637)(304)(417)534 
Net income available to common stockholders, diluted:3,1241,8072,9851,0192,167 

Comprehensive Income ($ in thousands)

12/31/2021
Q1
9/30/2021
Q4
6/30/2021
Q3
3/31/2021
Q2
12/31/2020
Q1
9/30/2020
Q4
Net income:3,1241,8072,9851,0192,167 
Comprehensive income:3,1241,8072,9851,0192,167 
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,537)(1,304)758(2,781)2,707 
Comprehensive income (loss), net of tax, attributable to parent:1,5875033,743(1,762)4,874 

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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