Filing Flows › Mitek Systems (MITK) › Q2 FY25
Mitek Systems (MITK) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed May 8, 2025
Mitek Systems (MITK) reported revenue of $51.9M for the second quarter fiscal 2025 (Q2 FY25), +11% from a year earlier and +39% from the quarter before. Operating margin was 21.9%, net earnings $9.2M (17.6% of revenue).
Mitek Systems, Q2 FY25: revenue $51.9M (+11% year over year), operating margin 21.9%, net earnings $9.2M, operating cash flow $13.7M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $51.9M | +39% | +11% |
| Operating profit | $11.4M | — | 16× |
| Net earnings | $9.2M | — | 32× |
| Operating cash flow | $13.7M | 24× | +95% |
| Free cash flow | $13.5M | 59× | +105% |
What changed
Revenue was $51.9M in Q2 FY25, up 11% year over year and up 39% from the previous quarter. Software and hardware was the largest line at 51% of revenue. Services and other added $3.1M year over year (up 14%), 63% of the total change.
Operating profit was $11.4M, a 21.9% margin (up 20.4 points year over year). Of the extra revenue versus a year earlier, 215% reached operating profit, above the 1% margin then. Total costs fell 12% while revenue rose 11%. Net earnings were $9.2M, up 3145% year over year. The effective tax rate was 9.1%.
Operating cash flow was $13.7M (up 95% year over year), 150% of net earnings. Non-cash charges added back $344K of depreciation and amortization and $4.4M of share-based compensation. Capital expenditures of $232K left free cash flow of $13.5M.
Questions
What was Mitek Systems' revenue in the second quarter fiscal 2025?
Mitek Systems (MITK) reported revenue of $51.9M for the second quarter fiscal 2025 (Q2 FY25), +11% from a year earlier and +39% from the quarter before.
Was Mitek Systems profitable in the second quarter fiscal 2025?
Operating profit was $11.4M (21.9% of revenue) and net earnings $9.2M.
Source: Mitek Systems 10-Q on SEC EDGAR.