Filing Flows › Mitek Systems (MITK) › Q3 FY25
Mitek Systems (MITK) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 7, 2025
Mitek Systems (MITK) reported revenue of $45.7M for the third quarter fiscal 2025 (Q3 FY25), +2% from a year earlier and -12% from the quarter before. Operating margin was 8.3%, net earnings $2.4M (5.2% of revenue).
Mitek Systems, Q3 FY25: revenue $45.7M (+2% year over year), operating margin 8.3%, net earnings $2.4M, operating cash flow $21.6M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $45.7M | -12% | +2% |
| Operating profit | $3.8M | -66% | +419% |
| Net earnings | $2.4M | -74% | 11× |
| Operating cash flow | $21.6M | +57% | +66% |
| Free cash flow | $21.2M | — | — |
What changed
Revenue was $45.7M in Q3 FY25, up 2% year over year and down 12% from the previous quarter. Services and other was the largest line at 57% of revenue. Services and other added $3.9M year over year (up 18%), 519% of the total change. Software and hardware declined 14%.
Operating profit was $3.8M, a 8.3% margin (up 6.7 points year over year). Of the extra revenue versus a year earlier, 408% reached operating profit, above the 2% margin then. Total costs fell 5% while revenue rose 2%. Net earnings were $2.4M, up 1009% year over year. The effective tax rate was 23.8%.
Operating cash flow was $21.6M (up 66% year over year), 900% of net earnings. Non-cash charges added back $432K of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items added $14.3M. After purchases of property and equipment, net ($329K), free cash flow as the company reports it was $21.2M.
Questions
What was Mitek Systems' revenue in the third quarter fiscal 2025?
Mitek Systems (MITK) reported revenue of $45.7M for the third quarter fiscal 2025 (Q3 FY25), +2% from a year earlier and -12% from the quarter before.
Was Mitek Systems profitable in the third quarter fiscal 2025?
Operating profit was $3.8M (8.3% of revenue) and net earnings $2.4M.
Source: Mitek Systems 10-Q on SEC EDGAR.