-0.78%
-6.25%
18.19%
-21.96%
-21.42%
-37.27%
7.42%
AI Spotlight on MITK
Company Description
Mitek Systems, Inc.develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally.The company's solutions are embedded in native mobile apps and web browsers to facilitate digital consumer experiences.
It offers Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; and Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications.The company also provides Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion; and MiSnap, a mobile-capture software development kit that enables an intuitive user experience and instant capture of quality images of identity documents and checks.In addition, it offers CheckReader that enables financial institutions to automatically extract data from checks; Check Fraud Defender, an AI-powered and cloud-hosted model for fighting check fraud; and Check Intelligence that enables financial institutions to automatically extract data from a check image received across any deposit channel, including branch, ATM, remote deposit capture, and mobile.
Further, the company provides ID_CLOUD, an automated identity verification solution that is integrated into a customers' application to read and validate identity documents; IDLive Face, a passive facial liveness detection product; IDVoice, a robust AI-driven voice biometric engine; IDLive Voice that helps stop spoofing attacks on voice biometric systems; and IDLive Doc that works to fight fraud related to digitally displayed document images.Mitek Systems, Inc.was incorporated in 1986 and is based in San Diego, California.
Market Data
| Last Price | 10.2 |
| Change Percentage | -0.78% |
| Open | 10.3 |
| Previous Close | 10.28 |
| Market Cap ( Millions) | 461 |
| Volume | 384018 |
| Year High | 16.24 |
| Year Low | 7.35 |
| M A 50 | 9.97 |
| M A 200 | 10.54 |
Financial Ratios
| FCF Yield | 6.56% |
| Dividend Yield | 0.00% |
| ROE | 1.53% |
| Debt / Equity | 69.20% |
| Net Debt / EBIDTA | 212.53% |
| Price To Book | 2.18 |
| Price Earnings Ratio | 142.99 |
| Price To FCF | 15.25 |
| Price To sales | 2.68 |
| EV / EBITDA | 19.9 |
News
- Jan -28 - Mitek Systems Announces Mark Rossi as a Nominee to its Board of Directors
- Dec -19 - Mitek to Participate in the 27th Annual Needham Growth Conference on January 14, 2025
- Dec -17 - Mitek: Guidance Not Bad When Considering SaaS Mix Growth
- Dec -17 - Mitek Systems Beats Q4 Earnings and Revenue Estimates, Stock Up
- Dec -17 - Mitek Systems Earnings: Strong Q4 Results Propel Stock Higher
- Dec -17 - Mitek Systems, Inc. (MITK) Q4 2024 Earnings Call Transcript
- Dec -16 - Mitek Systems (MITK) Surpasses Q4 Earnings and Revenue Estimates
- Dec -16 - Mitek Reports Fiscal 2024 Fourth Quarter and Full Year Financial Results and Provides Guidance for Fiscal 2025
- Dec -09 - Mitek's Digital Fraud Defender Protects Digital Identity Verification
- Dec -03 - Mitek to Report Fiscal 2024 Fourth Quarter and Full Year Financial Results on December 16, 2024
- Oct -22 - Mitek Appoints James Fay to Board of Directors
- Oct -01 - Mitek Appoints Edward H. West as CEO
- Oct -01 - Mitek Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
- Aug -22 - Mitek Systems (MITK) & Alogent Team Up to Combat Check Fraud
- Aug -21 - Alogent and Mitek Announce Partnership to Tackle Ballooning Check Fraud Epidemic
- Aug -19 - Mitek: At Least The Convertibles Might Stay Unexercised
- Aug -09 - Mitek Systems (MITK) Misses Q3 Earnings and Revenue Estimates
- Jul -18 - Alpha Picks: 3 Solid Stocks With 10X Potential
- Jul -18 - 7 AI Stocks in Overlooked Sectors That Are Ready to Shine
- Jul -04 - 3 Silent Stocks Set to Surprise Investors With 10X Growth
Business Breakdown
Expected Mid-Term Growth
Segment n°1 -> Deposits Software and Hardware
Expected Growth : 10 %
What the company do ?
Mitek Systems' Deposits software and hardware enable remote deposit capture, allowing users to deposit checks remotely using mobile devices or scanners.
Why we expect these perspectives ?
Mitek Systems' Deposits Software and Hardware growth is driven by increasing adoption of digital banking, rising demand for mobile deposit and remote check capture, growing need for fraud detection and prevention, and expanding partnerships with financial institutions and fintech companies, resulting in 10% growth.
Segment n°2 -> Identity Verification Services and Other
Expected Growth : 11 %
What the company do ?
Mitek Systems, Inc. offers Identity Verification Services, which uses AI-powered technology to verify identities through mobile capture and auto-verification of government-issued IDs, and Other services, including check verification and fraud detection.
Why we expect these perspectives ?
Mitek Systems' Identity Verification Services and Other segment growth of 11% is driven by increasing demand for digital onboarding, rising adoption of mobile deposit and online lending, growing need for fraud prevention and compliance, and expansion into new markets and geographies.
Segment n°3 -> Deposits Services and Other
Expected Growth : 9 %
What the company do ?
Mitek Systems, Inc.'s Deposits Services enable remote check deposit and Other services provide identity verification and fraud detection for secure digital transactions.
Why we expect these perspectives ?
Mitek Systems, Inc.'s 9% growth in Deposits Services and Other is driven by increasing adoption of digital banking solutions, rising demand for mobile deposit and identity verification services, expansion into new markets, and strategic partnerships with financial institutions to enhance customer experience and reduce fraud.
Segment n°4 -> Identity Verification Software and Hardware
Expected Growth : 13 %
What the company do ?
Mitek Systems, Inc.'s Identity Verification Software and Hardware uses AI-powered technology to verify identities through mobile capture of government-issued IDs and biometric authentication.
Why we expect these perspectives ?
Mitek Systems' 13% growth in Identity Verification Software and Hardware is driven by increasing demand for secure digital onboarding, rising adoption of mobile banking and digital payments, and stringent regulations such as KYC and AML. Additionally, advancements in AI-powered verification technology and growing need for fraud prevention solutions also contribute to this growth.
Mitek Systems, Inc. Products
| Product Range | What is it ? |
|---|---|
| Mobile Deposit | A mobile deposit capture solution that enables users to deposit checks remotely using their mobile devices |
| Mobile Verify | An identity verification solution that uses AI-powered facial recognition and machine learning to verify identities |
| MiSnap | A mobile image capture solution that uses AI-powered image processing to extract data from documents |
| Mobile Fill | A mobile data pre-fill solution that uses AI-powered data extraction to pre-fill forms and applications |
| Identity Verification | A comprehensive identity verification solution that uses multiple verification methods to verify identities |
Mitek Systems, Inc.'s Porter Forces
Threat Of Substitutes
Mitek Systems, Inc. operates in the financial technology industry, which is characterized by a moderate threat of substitutes. While there are alternative payment methods, Mitek's mobile deposit and identity verification solutions are highly specialized, reducing the threat of substitutes.
Bargaining Power Of Customers
Mitek Systems, Inc. has a diverse customer base, including financial institutions, fintech companies, and government agencies. The company's solutions are often integrated into customers' systems, making it difficult for customers to switch to alternative providers, thereby reducing their bargaining power.
Bargaining Power Of Suppliers
Mitek Systems, Inc. has a diversified supplier base, and the company is not heavily dependent on a single supplier. The company's suppliers are primarily technology and service providers, and there are many alternative suppliers available, reducing their bargaining power.
Threat Of New Entrants
The financial technology industry is characterized by a moderate threat of new entrants. While there are barriers to entry, such as regulatory requirements and the need for significant investment in technology and infrastructure, new entrants can still disrupt the market with innovative solutions.
Intensity Of Rivalry
The financial technology industry is highly competitive, with many established players and new entrants vying for market share. Mitek Systems, Inc. faces intense competition from companies such as Fiserv, FIS, and Jack Henry, which can lead to pricing pressure and increased marketing expenses.
Capital Structure
| Value | |
|---|---|
| Debt Weight | 40.61% |
| Debt Cost | 8.32% |
| Equity Weight | 59.39% |
| Equity Cost | 9.55% |
| WACC | 9.05% |
| Leverage | 68.37% |
Mitek Systems, Inc. : Quality Control
Mitek Systems, Inc. passed 4 out of 9 key points:
Historical Valuation
Price/Earnings Ratio
Margin Valuation
Peers Valuation
Competitors
| Company | Rational |
|---|---|
| ONTF | ON24, Inc. provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides … |
| RDVT | Red Violet, Inc., a software and services company, specializes in proprietary technologies and applying analytical capabilities to deliver identity intelligence in the United States. It offers idiCORE, an investigative solution … |
| DAVE | Dave Inc. provides a suite of financial products and services through its financial service online platform. The company offers Insights, a personal financial management tool to manage income and expenses … |
| SEMR | Semrush Holdings, Inc. develops an online visibility management software-as-a-service platform worldwide. The company enables companies to identify and reach the right audience for their content through the right channels. Its … |
| GRND | Grindr Inc. operates social network platform for the LGBTQ community. Its platform enables gay, bi, trans, and queer people to engage with each other, share content and experiences, and express … |
Peers Metrics
DCF BETA
Expected Cash-Flows
Scoring Insights
Peers Group Analysis
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Red Violet
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Grindr
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ON24
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Dave
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Mitek Systems
A-Score
1-Year Total Return ->
6
