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Mitek Systems (MITK) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 6, 2026 · Mitek Systems (MITK) Q3 FY26 earnings results →

Q3 FY26 Revenue up 18% year over year to $54.0M · 15¢ of every $1 of revenue kept as net profit · operating margin 21.4%

Mitek Systems made $54.0M in Q3 FY26 (+18% Y/Y): SaaS, maintenance, and other $33.4M, Software license $20.7M. Operating margin 21.4%, net earnings $8.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.

Revenue$54.0M
Year over year+18%
Operating margin21.4%
Net earnings$8.4M
Operating cash flow$27.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $54.0M in Q3 FY26, up 18% year over year and down 1% from the previous quarter. Software license and support was the largest line at 50% of revenue. Software license and support added $1.2M year over year (up 5%), 15% of the total change. Software license and support declined 48%.

Operating profit was $11.5M, a 21.4% margin (up 13.0 points year over year). Of the extra revenue versus Q3 FY25, 93% reached operating profit, above the 8% margin then. Total costs grew 1% against revenue growth of 18%. The fastest-growing cost line was General & admin (+15%). Net earnings were $8.4M, up 249% year over year. The effective tax rate was 25.1%.

Operating cash flow was $27.2M (up 26% year over year), 325% of net earnings. Non-cash charges added back $504K of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items added $13.4M. After purchases of property and equipment, net ($1.8M), free cash flow as the company reports it was $25.3M.

Quarterly history

Mitek Systems revenue by quarterMitek Systems revenue by quarter$43.2MQ4 FY24$51.9MQ2 FY25$45.7MQ3 FY25$44.8MQ4 FY25$44.2MQ1 FY26$54.8MQ2 FY26$54.0MQ3 FY26
Mitek Systems net earnings by quarterMitek Systems net earnings by quarter$8.6MQ4 FY24$9.2MQ2 FY25$2.4MQ3 FY25$1.9MQ4 FY25$2.8MQ1 FY26$9.5MQ2 FY26$8.4MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 6, 2026$54.0M+18%21.4%$8.4M$27.2M
Q2 FY2610-QMay 7, 2026$54.8M+6%24.7%$9.5M−$945K
Q1 FY2610-QFeb 5, 2026$44.2M+19%12.3%$2.8M$8.0M
Q4 FY2510-KDec 11, 2025$44.8M+4%10.5%$1.9M$19.5M
Q3 FY2510-QAug 7, 2025$45.7M+2%8.3%$2.4M$21.6M
Q2 FY2510-QMay 8, 2025$51.9M+11%21.9%$9.2M$13.7M
Q4 FY2410-KDec 16, 2024$43.2M+15%17.8%$8.6M$21.1M

Charts

Mitek Systems: revenue growth, year over year and quarter over quarterMitek Systems: revenue growth, year over year and quarter over quarterY/YQ/Q+15%Q4 FY24+11%+20%Q2 FY25+2%-12%Q3 FY25+4%-2%Q4 FY25+19%-1%Q1 FY26+6%+24%Q2 FY26+18%-1%Q3 FY26
Latest (Q3 FY26): Y/Y +18%, Q/Q -1%.
Mitek Systems: where the cash came from (+) and went (−), TTM to Q3 FY26Mitek Systems: where the cash came from (+) and went (−), TTM to Q3 FY26Other financing−$106MOperating cash flow$53.7MOther investing$38.8MCash drawn (+) / kept (−)$37.1MBuybacks−$21.3MCapital spending−$5.1MShares issued$3.4MExchange rates−$437K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Mitek Systems: profit against cash, quarter by quarterMitek Systems: profit against cash, quarter by quarterNet incomeOperating cash flow$8.6M$21.1MQ4 FY24−$4.6M$565KQ1 FY25$9.2M$13.7MQ2 FY25$2.4M$21.6MQ3 FY25$1.9M$19.5MQ4 FY25$2.8M$8.0MQ1 FY26$9.5M−$945KQ2 FY26$8.4M$27.2MQ3 FY26
Latest (Q3 FY26): Net income $8.4M, Operating cash flow $27.2M.
Mitek Systems: diluted shares by fiscal yearMitek Systems: diluted shares by fiscal year43MFY2045MFY2146MFY2246MFY2347MFY2447MFY25
+10.3% since FY20: more shares outstanding (issuance, stock pay).
Mitek Systems: long-term debt falling due (FY25)Mitek Systems: long-term debt falling due (FY25)$280K2026$404K2027$423K2028$416K2029$341K2030$2.5MLater
Cash $154M, short-term investments $38.9M, long-term debt $152M at 2025-09-30.
Mitek Systems in its industry: growth against margin (14 companies, SIC 3577)Mitek Systems in its industry: growth against margin (14 companies, SIC 3577)revenue growth, year over year →↑ operating marginmedian +10%median 0%PANWFTNTXRXLOGICRSRIMMREVLVWETHTACTINVELINKVTIXAIMDMITK (+18%, 21%)
Computer Peripheral Equipment, NEC; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Mitek Systems

Mitek Systems, Inc. (“Mitek” or the “Company”) is a global provider of digital identity verification and fraud prevention solutions. The Company’s technologies help organizations verify identities, mitigate fraud risk, and enable secure digital interactions in response to increasingly complex and evolving threats, including those driven by artificial intelligence (“AI”). Mitek’s platform addresses key use cases across digital interactions and customer lifecycle, including new account openings, account access, and mobile check deposit. Core capabilities include AI, machine learning, computer vision, and proprietary biometric liveness, and deepfake detection technologies that support identity verification, detect manipulation, and help prevent digital impersonation.

In its own words, from its 10-K, filed Dec 11, 2025.

Mitek Systems against its Computer Peripheral Equipment, NEC peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +18% against the peers' median +13%. Operating margin: 21.4% against the peers' median 5.0%.

CompanyQuarterRevenueY/YOp. margin
MITK Mitek SystemsQ3 FY26$54.0M+18%21.4%
PANW Palo Alto NetworksQ4 FY26$3.4B+34%5.0%
FTNT FortinetQ3 2026$2.1B+20%33.9%
XRX Xerox HoldingsQ3 2026$1.9B-5%-53.9%
LOGI Logitech International S.A.Q2 FY27$1.2B+3%16.5%
CRSR Corsair GamingQ3 2026$367M+6%-0.4%
IMMR ImmersionQ1 FY27$294M+0.8%-6.8%
EVLV Evolv Technologies HoldingsQ2 2026$43.8M+34%-24.1%
WETH Wetouch TechnologyQ2 2026$14.0M+13%22.6%

Source: Mitek Systems 10-Q on SEC EDGAR · CIK 807863 · Computer Peripheral Equipment, NEC

13F: who owns MITK and who is buying

Largest holders of MITK (13F)Largest holders of MITK (13F)BlackRock$71.2MLegal & General Group$54.1MPrice T Rowe Associates$42.6MInvesco$41.7MVanguard Group$39.7MVanguard Capital Management LLC$39.0MWellington Management Group LLP$35.8MDimensional Fund Advisors LP$35.4MVanguard Portfolio Management LLC$32.8MImpax Asset Management Group$27.3M
Funds' net buying of MITK by quarter (13F)Funds' net buying of MITK by quarter (13F)−$8.4M2024-09−$39.9M2024-12−$2.1M2025-03−$103K2025-06$3.6M2025-09$20.0M2025-12$22.5M2026-03$23.0M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on MITK

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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