Quarterly ResultMay 7, 2026, 04:15 PM
Mitek Reports Record Q2 Revenue of $54.8M; Raises Full-Year Outlook
AI Summary
Mitek Systems reported record financial results for its second fiscal quarter ended March 31, 2026, with total revenue reaching $54.8 million, a 6% increase year-over-year. The company saw strong growth in its Fraud and Identity revenue, up 28%, and SaaS revenue, which grew 18%. Based on this performance, Mitek has raised its full-year fiscal 2026 revenue and adjusted EBITDA margin guidance.
Key Highlights
- Total revenue reached a record $54.8 million, a 6% increase year-over-year.
- Fraud and Identity revenue grew 28% year-over-year.
- SaaS revenue increased 18% year-over-year to $21.2 million.
- GAAP net income was $9.5 million, up from $9.2 million a year ago.
- Adjusted EBITDA was $22.3 million, compared to $20.3 million a year ago.
- Full-year fiscal 2026 revenue guidance raised to $189M - $198M.
- Full-year fiscal 2026 Adjusted EBITDA margin guidance raised to 30% - 33%.
- Cash and investments totaled $77.6 million at March 31, 2026.