Filing Flows › Mitek Systems (MITK) › Q1 FY26
Mitek Systems (MITK) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 5, 2026
Mitek Systems (MITK) reported revenue of $44.2M for the first quarter fiscal 2026 (Q1 FY26), +19% from a year earlier and -1% from the quarter before. Operating margin was 12.3%, net earnings $2.8M (6.3% of revenue).
Mitek Systems, Q1 FY26: revenue $44.2M (+19% year over year), operating margin 12.3%, net earnings $2.8M, operating cash flow $8.0M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $44.2M | -1% | +19% |
| Operating profit | $5.4M | +16% | — |
| Net earnings | $2.8M | +49% | — |
| Operating cash flow | $8.0M | -59% | 14× |
| Free cash flow | $6.6M | — | — |
What changed
Revenue was $44.2M in Q1 FY26, up 19% year over year and down 1% from the previous quarter. SaaS was the largest line at 47% of revenue. SaaS added $3.6M year over year (up 21%), 52% of the total change.
Operating profit was $5.4M, a 12.3% margin (up 20.5 points year over year). Total costs fell 4% while revenue rose 19%. The fastest-growing cost line was Other operating costs (+17%). Net earnings were $2.8M. The effective tax rate was 37.0%.
Operating cash flow was $8.0M (up 1319% year over year), 289% of net earnings. Non-cash charges added back $353K of depreciation and amortization and $2.7M of share-based compensation. Working capital and other items added $2.2M. After purchases of property and equipment, net ($1.4M), free cash flow as the company reports it was $6.6M.
Questions
What was Mitek Systems' revenue in the first quarter fiscal 2026?
Mitek Systems (MITK) reported revenue of $44.2M for the first quarter fiscal 2026 (Q1 FY26), +19% from a year earlier and -1% from the quarter before.
Was Mitek Systems profitable in the first quarter fiscal 2026?
Operating profit was $5.4M (12.3% of revenue) and net earnings $2.8M.
Source: Mitek Systems 10-Q on SEC EDGAR.