MITEK SYSTEMS INC
MITK · Computer Peripheral Equipment, NEC · 45.2M shares · +5%/yr ↑ shares · EDGAR filings ↗
Reference price $14.19 · est. market cap ~$641M — last insider sale, 2026-05-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70Profitable identity-verification/mobile-capture software vendor with strong free cash flow and an earnings rebound.
Strengths
- Strong free cash flow — FCF margin 30.2% (89th), OCF margin 30.8%
- Earnings rebound — net income +168.3% (90th)
- Profitable, low leverage — operating margin 9.3%, D/E 0.02
Risks
- Modest growth — revenue +4.4% (32nd)
- Customer/channel and product concentration per risk factors — qualitative (per 10-K)
- Competitive identity/fraud-detection market — qualitative (per 10-K)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~100% of revenue from one customer/distributor — Results of Operations Comparison of the Twelve Months Ended September 30, 2025 and 2024 The following table summarizes certain aspects of our results of operations for the twelve months ended Sept
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $196M cash & investments
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$4M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
9.3%
Net margin
4.9%
Return on equity
3.7%
Return on assets
1.9%
ROIC
5.4%
Revenue growth (QoQ)
24.0%
Net-income growth
168.3%
Debt / equity
0.0×
Net debt / EBITDA
-10.6×
Current ratio
1.2×
Free cash flow
$54M
EBITDA
$18M
Tangible book value
$67M
Cash & investments
$196M
Stock comp / revenue
9.4%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-15 | Gafke Garrett | Sell | 21K | $14.19 |
| 2026-04-28 | Gafke Garrett | Sell | 153K | $13.92 |
| 2026-04-25 | Gafke Garrett | Option exercise | 240K | — |
| 2026-03-03 | Wells Donna | Grant | 11K | — |
| 2026-03-03 | Gray Jason | Option exercise | 33K | $8.60 |
| 2026-03-03 | Gray Jason | Option exercise | 30K | $9.50 |
| 2026-03-03 | Gray Jason | Sell | 73K | $14.74 |
| 2026-03-03 | Repo Susan | Grant | 11K | — |
| 2026-03-03 | Gupta Rahul | Grant | 11K | — |
| 2026-03-03 | Carter Scott R | Grant | 11K | — |
| 2026-03-03 | Fay James Daniel | Grant | 11K | — |
| 2026-03-03 | ROSSI MARK | Grant | 11K | — |
| 2026-03-03 | Stevenson Kimberly S | Grant | 11K | — |
| 2026-02-05 | BELL ERIC CHRISTOPHER | Grant | 10K | — |
| 2026-01-02 | Lyle David | Option exercise | 13K | — |
| 2026-01-02 | Lyle David | Tax withheld | 15K | $9.97 |
| 2025-12-10 | Gray Jason | Option exercise | 20K | $9.23 |
| 2025-12-10 | Gray Jason | Tax withheld | 20K | $9.23 |
| 2025-12-08 | Lyle David | Option exercise | 20K | $9.14 |
| 2025-12-08 | Lyle David | Tax withheld | 19K | $9.14 |
| 2025-12-08 | Gray Jason | Option exercise | 15K | $9.14 |
| 2025-12-08 | Gray Jason | Tax withheld | 14K | $9.14 |
| 2025-11-19 | Gray Jason | Grant | 49K | $8.72 |
| 2025-11-19 | WEST EDWARD H | Grant | 115K | $8.72 |
| 2025-11-19 | Lyle David | Grant | 69K | $8.72 |
| 2025-11-19 | Gafke Garrett | Grant | 57K | $8.72 |
| 2025-10-01 | WEST EDWARD H | Tax withheld | 106K | $9.77 |
| 2025-10-01 | WEST EDWARD H | Option exercise | 224K | $9.77 |
| 2025-06-13 | Diamond Michael E | Sell | 70K | $9.77 |
| 2025-04-28 | Briggs Christopher H | Tax withheld | 2.2K | $8.35 |
| 2025-04-25 | Gafke Garrett | Grant | 120K | — |
| 2025-03-07 | ROSSI MARK | Buy | 2.5K | $8.91 |
| 2025-03-06 | ROSSI MARK | Buy | 2.5K | $9.14 |
| 2025-03-06 | ROSSI MARK | Buy | 2.5K | $8.97 |
| 2025-03-06 | Carter Scott R | Buy | 12K | $9.08 |
| 2025-03-04 | Fay James Daniel | Grant | 19K | $9.07 |
| 2025-03-04 | Carter Scott R | Grant | 19K | $9.07 |
| 2025-03-04 | GUPTA RAHUL | Grant | 19K | $9.07 |
| 2025-03-04 | Repo Susan | Grant | 19K | $9.07 |
| 2025-03-04 | Stevenson Kimberly S | Grant | 19K | $9.07 |
| 2025-03-04 | Wells Donna | Grant | 19K | $9.07 |
| 2025-03-04 | ROSSI MARK | Grant | 19K | $9.07 |
| 2025-02-20 | WEST EDWARD H | Buy | 55K | $9.21 |
| 2025-02-20 | Stevenson Kimberly S | Buy | 10K | $9.18 |
| 2025-02-18 | Diamond Michael E | Option exercise | 8.2K | $8.60 |
| 2025-02-18 | Diamond Michael E | Option exercise | 20K | $9.50 |
| 2025-02-13 | Diamond Michael E | Sell | 36K | $10.14 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-04 | Shareholder vote | filing ↗ |
| 2026-02-20 | Exec/director changeExhibits | filing ↗ |
| 2026-02-05 | 1.02ResultsExec/director changeReg FDOtherExhibits | filing ↗ |
| 2026-01-22 | Debt obligationExhibits | filing ↗ |
| 2025-12-11 | ResultsExhibits | filing ↗ |
| 2025-09-16 | Exec/director changeExhibits | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-07 | 2026-05-07 | 0000807863-26-000025 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000807863-26-000026 ↗ |
| 8-K | 2026-03-04 | 2026-03-03 | 0000807863-26-000011 ↗ |
| 8-K | 2026-02-20 | 2026-02-20 | 0000807863-26-000009 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001628280-26-005789 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0001628280-26-005783 ↗ |
| 8-K | 2026-01-22 | 2026-01-22 | 0001628280-26-003124 ↗ |
| 10-K | 2025-12-11 | 2025-09-30 | 0001628280-25-056520 ↗ |
| 8-K | 2025-12-11 | 2025-12-11 | 0001628280-25-056525 ↗ |
| 8-K | 2025-09-16 | 2025-09-12 | 0000807863-25-000126 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0000807863-25-000120 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000807863-25-000119 ↗ |