Mitek Systems, Inc. (MITK) Financial Statements (2024 and earlier)

Company Profile

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

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2023
MRQ
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments90,327179,36960,02133,25017,47642,568
Cash and cash equivalents32,05930,31219,98616,7489,02812,289
Short-term investments58,268149,05740,03516,5028,44830,279
Receivables27,87416,60215,61214,93816,8217,099
Prepaid expense2,0001,9201,3381,4872,278 
Contract with customer, asset, after allowance for credit loss6,2734,0805,1872,350 
Other current assets2,6222,0851,9682,1051,0531,209
Total current assets:129,096204,05684,12654,13037,62850,876
Noncurrent Assets
Operating lease, right-of-use asset5,1557,0565,407 
Property, plant and equipment3,4933,6713,6104,2314,665613
Long-term investments and receivables10,63348,0511,9631,552 3,780
Long-term investments10,63348,0511,9631,552 3,780
Intangible assets, net (including goodwill)195,94291,83054,95857,04167,3545,311
Goodwill120,18663,09635,66932,63634,4073,014
Intangible assets, net (excluding goodwill)75,75628,73419,28924,40532,9472,297
Contract with customer, asset, after allowance for credit loss     
Derivative instruments and hedges  48,208    
Deferred income tax assets10,24510,51113,48416,596
Other noncurrent assets5,8466,3105,6062,3472,14774
Other undisclosed noncurrent assets     15,35611,065
Total noncurrent assets:231,314215,63785,02881,76789,52220,843
TOTAL ASSETS:360,410419,693169,154135,897127,15071,719
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6,12914,28312,7919,96511,4885,627
Employee-related liabilities11,7768,8826,4107,9153,709
Accounts payable4,9742,5073,9093,5553,5731,918
Accrued liabilities1,155     
Deferred revenue13,39410,3817,9735,612
Restructuring reserve 901  1,526  
Business combination, contingent consideration, liability5,92011,0507531,0361,849 
Deferred revenue and credits3,305
Other liabilities1,6501,5521,0201,9092,278602
Other undisclosed current liabilities12,5031,9431,819 4,792 
Total current liabilities:40,49739,20924,35620,04820,4079,534
Noncurrent Liabilities
Long-term debt and lease obligation127,970127,5065,327   
Long-term debt, excluding current maturities127,970120,918    
Liabilities, other than long-term debt21,62660,1487,2288,5162,702777
Deferred revenue and credits85
Deferred revenue1,7759551,597736
Deferred income tax liabilities14,1324,1174,6495,555
Other liabilities1,6136,8689822,2252,702692
Operating lease, liability4,1066,5885,327 
Derivative instruments and hedges, liabilities  48,208    
Other undisclosed noncurrent liabilities     8,647 
Total noncurrent liabilities:149,596187,65412,5558,51611,349777
Total liabilities:190,093226,86336,91128,56431,75610,311
Equity
Equity, attributable to parent170,317192,830132,243107,33395,39461,408
Common stock444442403834
Treasury stock, value  (140)    
Additional paid in capital216,493199,935146,518132,160116,94478,677
Accumulated other comprehensive income (loss)(28,219)(943)(323)(4,061)(586)147
Accumulated deficit(18,001)(6,066)(13,994)(20,806)(21,002)(17,450)
Total equity:170,317192,830132,243107,33395,39461,408
TOTAL LIABILITIES AND EQUITY:360,410419,693169,154135,897127,15071,719

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

6/30/2023
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
Revenues143,943119,797101,31084,59063,55945,390
Revenue, net45,390
Cost of revenue(21,633)(7,035)(6,753)(5,242)(4,663)(4,041)
Cost of goods and services sold (100)(100)(100)(100)(100)(4,041)
Gross profit:122,310112,76294,55779,34858,89641,349
Operating expenses(110,971)(99,485)(85,689)(83,938)(66,702)(38,580)
Operating income (loss):11,33913,2778,868(4,590)(7,806)2,769
Nonoperating income (expense)(370)654541602(935)402
Investment income, nonoperating(7,053)(4,372)    
Interest and debt expense(8,232)(5,129)    
Income (loss) from continuing operations before income taxes:2,7378,8029,409(3,988)(8,741)3,171
Income tax expense (benefit)295(824)(1,595)3,264(3,066)10,921
Income (loss) from continuing operations:3,0327,9787,814(724)(11,807)14,092
Income (loss) before gain (loss) on sale of properties:7,9787,814(724)(11,807)14,092
Net income (loss) available to common stockholders, diluted:3,0327,9787,814(724)(11,807)14,092

Comprehensive Income ($ in thousands)

6/30/2023
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
Net income (loss):3,0327,9787,814(724)(11,807)14,092
Comprehensive income (loss):3,0327,9787,814(724)(11,807)14,092
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(27,276)(620)3,738(3,475)(733)189
Comprehensive income (loss), net of tax, attributable to parent:(24,244)7,35811,552(4,199)(12,540)14,281

Statements Sources

The financial statements are based on the Company's filings with 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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