--- title: "Mitek | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 54.84 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285609252.md" datetime: "2026-05-07T20:13:40.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285609252.md) - [en](https://longbridge.com/en/news/285609252.md) - [zh-HK](https://longbridge.com/zh-HK/news/285609252.md) --- # Mitek | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 54.84 M Revenue: As of FY2026 Q2, the actual value is USD 54.84 M, beating the estimate of USD 52.62 M. EPS: As of FY2026 Q2, the actual value is USD 0.2, beating the estimate of USD 0.15. EBIT: As of FY2026 Q2, the actual value is USD 15 M. ### Fiscal 2026 Second Quarter Financial Highlights (Three Months Ended March 31, 2026 vs. 2025) #### Revenue - Total revenue for Mitek Systems, Inc. was $54.8 million, a 6% increase year-over-year compared to $51.9 million in the prior year period . - SaaS revenue increased by 18% year-over-year to $21.2 million, up from $18.0 million . - Fraud and Identity revenue grew 28% year over year . #### GAAP Operational Metrics - Gross profit was $43.2 million, compared to $42.1 million a year ago . - Gross profit margin was 78.8%, down from 81.2% in the prior year period . - Net income was $9.5 million, compared to $9.2 million a year ago . - Operating income was $13,549 thousand, up from $11,365 thousand . - Total operating costs and expenses were $41,292 thousand, compared to $40,564 thousand in the prior year period . - Cost of revenue—software license was $33 thousand, compared to $16 thousand . - Cost of revenue—SaaS, maintenance, and other was $8,525 thousand, compared to $6,515 thousand . - Selling and marketing expenses were $9,601 thousand, down from $10,540 thousand . - Research and development expenses were $7,566 thousand, down from $9,766 thousand . - General and administrative expenses were $12,244 thousand, up from $10,098 thousand . - Amortization of acquired intangibles and acquisition-related costs was $3,323 thousand, compared to $3,600 thousand . - Restructuring costs were $0 thousand, compared to $29 thousand . #### Non-GAAP Operational Metrics - Non-GAAP gross profit was $46.6 million, compared to $45.6 million a year ago . - Non-GAAP gross profit margin was 85.0%, down from 87.7% in the prior year period . - Adjusted EBITDA was $22.3 million, compared to $20.3 million a year ago . - Adjusted EBITDA margin was 40.7%, up from 39.0% in the prior year period . - Non-GAAP net income was $18.5 million, compared to $16.7 million a year ago . #### Cash Flow and Balance Sheet - Total cash and investments at March 31, 2026, stood at $77.6 million, a decrease of $118.9 million from $196.5 million at September 30, 2025, primarily due to the retirement of $155 million Convertible Senior Notes . - Last Twelve Months (LTM) net cash provided by operating activities was $48.1 million, compared to $48.4 million for the corresponding period a year ago . - LTM free cash flow was $44.5 million, compared to $47.1 million for the corresponding period a year ago . ### Six Months Ended March 31, 2026 vs. 2025 #### Revenue - Total revenue was $99,085 thousand, up from $89,183 thousand . - Fraud and Identity Solutions revenue was $51,170 thousand, up from $39,688 thousand . - Fraud and Identity Solutions SaaS revenue was $40,895 thousand, up from $34,083 thousand . - Check Verification Solutions revenue was $47,915 thousand, down from $49,495 thousand . #### Cash Flow - Net cash provided by operating activities was $7,073 thousand, compared to $14,308 thousand . - Net cash provided by investing activities was $31,160 thousand, compared to $460 thousand . - Net cash used in financing activities was -$122,620 thousand, compared to -$3,093 thousand . ### Outlook / Guidance Mitek Systems, Inc. is raising its full-year fiscal 2026 revenue and adjusted EBITDA margin guidance . The company anticipates full-year fiscal 2026 total revenue to be between $189 million and $198 million, representing approximately 8% year-over-year growth at the midpoint, and adjusted EBITDA margin to be between 30% and 33% . For the fiscal third quarter ending June 30, 2026, total revenue is expected to be between $49 million and $53 million, with total Non-GAAP operating expense between $25 million and $26 million . ### Related Stocks - [MITK.US](https://longbridge.com/en/quote/MITK.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Yext to Announce First Quarter Fiscal Year 2027 Financial Results on June 2, 2026 | YEXT Stock News](https://longbridge.com/en/news/286970613.md) - [Parrot expects Q2 2026 revenue to rise versus Q2 2025](https://longbridge.com/en/news/287097070.md) - [ChipMOS to Present at Cathay Securities 2026 Q2 Industry Forum | IMOS Stock News](https://longbridge.com/en/news/287043027.md)