MITK
Mitek Systems, Inc.
MITK's fundamentals are strong and it looks cheap: trading at 39x earnings, below its usual 69x. Analysts expect strong earnings growth.
MITK Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Strong |
MITK's revenue, profitability, cash flow and balance sheet are all currently healthy.
MITK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $18.25 | — |
| Current | 39x | $18.25 | — |
| Cheap | 40x | $18.89 | +3.5% |
| Fair | 69x | $32.56 | +78% |
| Expensive | 90x | $42.14 | +131% |
Historical ranges are pointers, not guarantees.
MITK's PE is in its cheap range at 39x. If earnings grow as analysts expect, today's price would be 15x next year's earnings.
MITK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MITK, with profitability improving.
MITK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.18 | +151% |
| Q2 2026 | $0.47 | +38% |
| Q1 2026 | $0.35 | +21% |
| Q4 2025 | $0.35 | +250% |
| Q3 2025 | $0.19 | +171% |
| Q2 2025 | $0.34 | +$0.49 |
| Q1 2025 | $0.29 | +$0.45 |
| Q4 2024 | $0.10 | +$0.16 |
| Q3 2024 | $0.07 | -59% |
MITK earned $0.47 per share over the past year, up 38% from the year before.
MITK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $54M | +18% |
| Q1 2026 | $54.8M | +5.6% |
| Q4 2025 | $44.2M | +19% |
| Q3 2025 | $44.8M | +3.6% |
| Q2 2025 | $45.7M | +1.7% |
| Q1 2025 | $51.9M | +11% |
| Q4 2024 | $37.3M | +0.9% |
| Q3 2024 | $43.2M | +15% |
MITK's revenue has grown year over year for 10 quarters in a row: $54M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 21% | +13 points |
| Q1 2026 | 25% | +2.8 points |
| Q4 2025 | 12% | +21 points |
| Q3 2025 | 10% | -7.4 points |
| Q2 2025 | 8.3% | +6.7 points |
| Q1 2025 | 22% | +20 points |
| Q4 2024 | -8.3% | +11 points |
| Q3 2024 | 18% | +27 points |
MITK's operating margin was 21% last quarter, up 13 points from the same quarter a year ago.
MITK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $25.3M | +19% |
| Q1 2026 | -$2.5M | -118% |
| Q4 2025 | $6.6M | +2766% |
| Q3 2025 | $19.2M | -7.8% |
| Q2 2025 | $21.2M | +69% |
| Q1 2025 | $13.5M | +105% |
| Q4 2024 | $230K | +$9.9M |
| Q3 2024 | $20.8M | +573% |
MITK generated $49M in free cash flow over the past year, down 13% from the year before.
MITK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +174K shares |
| 1 year | +4% | +1.9M shares |
| 3 years | +4.8% | +2.2M shares |
| 5 years | +7.8% | +3.5M shares |
| Available history | +17% | +7.1M shares |
MITK has 49M diluted shares, up 4% from a year ago, despite $21M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $2M |
| Q1 2026 | $7.8M |
| Q4 2025 | $10M |
| Q3 2025 | $1.5M |
| Q2 2025 | $1,000 |
| Q1 2025 | $1,000 |
| Q4 2024 | $3.3M |
| Q3 2024 | $14.1M |
MITK spent $21M buying back its own shares over the past year, up 22% from the year before.
MITK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -1.0x | Net Cash |
| Q1 2025 | 2.3x | Moderate |
| Q4 2024 | 7.0x | High |
| Q3 2024 | -22.8x | Net Cash |
| Q4 2023 | 35.6x | High |
| Q3 2023 | 4.4x | High |
| Q2 2023 | 2.0x | Healthy |
| Q1 2023 | 2.0x | Moderate |
MITK has more cash than debt.
MITK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.0 | Neutral |
| Stochastic | 51.8 | Neutral |
MITK's weekly RSI is 55 (neutral) and its Stochastic is 52 (neutral).
MITK PE vs Technology Sector
| Metric | MITK | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 28x | 39% above |
| PE % | 14 | 35 | 21 pts below |
MITK is trading at 39x earnings, a 39% premium to the Technology sector's median of 28x.
MITK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.7 | 3.2% above |
| 20 week MA | $18.0 | 1.3% above |
| 50 week MA | $15.3 | 20% above |
| 100 week MA | $12.4 | 47% above |
| 200 week MA | $11.6 | 58% above |
MITK is in an uptrend: it's above all five of its weekly moving averages, and 58% above its 200-week average.
MITK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $7.63 | $18.8 | +146% |
| 2021 | $18.8 | $16.8 | -11% |
| 2022 | $16.8 | $10.0 | -40% |
| 2023 | $10.0 | $13.0 | +30% |
| 2024 | $13.0 | $11.4 | -13% |
| 2025 | $11.4 | $10.5 | -7.1% |
| 2026 YTD | $10.5 | $18.3 | +73% |
MITK's yearly returns have swung widely, from +146% in 2020 to −40% in 2022. It's up 73% so far in 2026.