MITEK SYSTEMS, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $179.7M | $172.1M | $172.6M | $144.8M | $119.8M | $101.3M | $84.6M | $63.6M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | $35.3M | $34.6M | $29.0M | $30.2M | $28.0M | $22.9M | $21.9M | $18.1M |
| SG&A Expense | $44.3M | $53.0M | $43.3M | $26.6M | $22.5M | $22.3M | $19.9M | $17.1M |
| Operating Income | $16.8M | $2.2M | $15.6M | $12.2M | $13.3M | $8.9M | $-4.6M | $-7.8M |
| Operating Margin | 9.3% | 1.3% | 9.0% | 8.4% | 11.1% | 8.8% | -5.4% | -12.3% |
| Interest Expense | — | — | $9.1M | $8.2M | $5.1M | $0 | $0 | — |
| Pretax Income | $11.6M | $-909.0K | $10.3M | $3.6M | $8.8M | $9.4M | $-4.0M | $-8.7M |
| Income Tax Expense | $2.8M | $-4.2M | $2.3M | $-92.0K | $824.0K | $1.6M | $-3.3M | $3.1M |
| Net Income | $8.8M | $3.3M | $8.0M | $3.7M | $8.0M | $7.8M | $-724.0K | $-11.8M |
| Net Margin | 4.9% | 1.9% | 4.7% | 2.6% | 6.7% | 7.7% | -0.9% | -18.6% |
| EPS (Basic) | $0.19 | $0.07 | $0.18 | $0.08 | $0.18 | $0.19 | $-0.02 | $-0.33 |
| EPS (Diluted) | $0.19 | $0.07 | $0.17 | $0.08 | $0.18 | $0.18 | $-0.02 | $-0.33 |
| Shares Outstanding (Basic) | 45.7M | 46.6M | 45.5M | 44.6M | 43.5M | 41.4M | 39.3M | 35.8M |
| Shares Outstanding (Diluted) | 46.9M | 47.5M | 46.5M | 45.8M | 45.1M | 42.5M | 39.3M | 35.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |
Go for a business that any idiot can run – because sooner or later any idiot probably is going to be running it.