Mitek Systems, Inc. (MITK) Stock

Mitek Systems, Inc. (MITK) is a Technology stock trading at $18.53 (as of 2026-08-20), with a market capitalization of $836.12M and a trailing P/E of 37.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Mitek Systems, Inc. develops and sells mobile image capture and digital identity verification solutions, including mobile deposit for remote check capture, identity verification integrated into apps and websites, and tools such as check data extraction and check-fraud detection. Its offerings are used by businesses and financial institutions in the U.S. and internationally.

Understand Mitek Systems, Inc.: how it makes money

Mitek Systems develops and sells mobile image capture and digital identity verification solutions, like Mobile Deposit for remote check deposits and Mobile Verify for identity verification, embedded in native mobile apps and web browsers, and monetizes these offerings through software licensing and software-as-a-service style revenue streams.

A recurring software revenue model appears to drive performance, supported by strong Net Revenue Retention Rate (120%), which suggests existing customers expand spending over time across its deposit and identity verification solutions.

Business quality (Strong): Strength appears tied to recurring customer expansion in deposit and identity verification software (Net Revenue Retention Rate 120%), but the overall business scale is small (quarter revenue about 0.1B), so execution and customer concentration risks could matter.

Valuation: At 51× earnings, MITK trades 60% above the Tech Hardware average (32×). Note: one-time items can distort reported P/E.

Bull case

  • Recurring expansion signal: Net Revenue Retention Rate is 120%, which supports the idea that customers increase usage or spending over time.
  • Fraud and identity data footprint: Check Fraud Defender Data Set Coverage is 60% of U.S. checking accounts, indicating broad coverage in its fraud and identity offering.

Bear case

  • Small revenue base: Quarterly revenue is about 0.1B, which can amplify the impact of slower customer wins, churn, or delayed renewals on reported results.
  • Operational reliance on identity and deposit adoption: Key operating indicators relate to identity and fraud coverage and retention, so if embedding in apps or customer adoption slows, growth could be pressured.
Valuation — source: SEC EDGAR (first-party)
Price$18.53
Market Cap$836.12M
P/E Ratio37.1
EV / EBITDA21.7
Price / Book3.34
Price / Sales4.22
FCF Yield5.8%
DCF Value (model)$7.03
DCF Upside vs Price-62.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$179.69M
Net Margin4.9%
Revenue Growth (YoY)18.2%
EPS Growth (YoY)280.0%
FCF Growth (YoY)19.2%
Financial Health — source: SEC EDGAR
Altman Z-Score2.86 (grey)
Valuation vs Sector & Industry
Stock P/E37.1
Sector P/E (Technology)33.9
Industry P/E (Computers)32.1
vs Sector9.4%
vs Industry15.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($44.05M)
Institutional Holders Tracked10
Congressional Trades (recent)1
Company
SectorTechnology
IndustryComputers
CEOEdward H. West
Employees565
CountryUS
IPO Date1989-01-03

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MITK earnings history · MITK institutional & insider holders · MITK KPIs & operating metrics · MITK financials · MITK investor presentations & press releases · MITK SEC filings · MITK peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.