Mitek Systems, Inc. (MITK) Income Statement
MITK FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsMITK revenue and net income
Where MITK's revenue goes
FY2025Each bar shows an amount and its share of revenue. MITK kept 4.9% of revenue as net income.
MITK profit margins
MITK growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +4.4% | +7.5% | +12.1% | +21.6% |
| Gross profit | +3.5% | +7.0% | +11.7% | +20.9% |
| Operating income | +652.6% | +6.2% | +13.6% | +24.4% |
| Net income | +168.3% | +33.5% | +2.4% | +13.3% |
| EPS (diluted) | −8.2% | 0.0% | +5.8% | +13.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MITK quarterly EPS vs estimates
Mitek Systems beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: December 10, 2026 (estimate $0.11).
MITK income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $179.7M | $172.1M | $172.6M | $144.8M | $119.8M | $101.3M | $84.6M | $63.6M | $45.4M | $34.7M |
| Cost of revenue | $26.8M | $24.4M | $23.0M | $20.0M | $14.5M | $13.2M | $12.3M | $8.7M | $4.0M | $3.4M |
| Gross profit | $152.9M | $147.7M | $149.6M | $124.8M | $105.3M | $88.1M | $72.3M | $54.9M | $41.3M | $31.3M |
| Research & development | $35.3M | $34.6M | $29.0M | $30.2M | $28.0M | $22.9M | $21.9M | $18.1M | $10.4M | $7.8M |
| Sales, general & admin | $85.8M | $93.8M | $83.9M | $65.4M | $55.0M | $49.9M | $44.4M | $36.3M | $25.8M | $19.5M |
| Total operating expenses | $136.1M | $145.5M | $134.0M | $130.8M | $92.0M | $79.2M | $76.9M | $62.7M | $38.6M | $29.5M |
| Operating income | $16.8M | $2.2M | $15.6M | $14.0M | $13.3M | $8.9M | −$4.6M | −$7.8M | $2.8M | $1.8M |
| Interest expense | $9.8M | $9.3M | $9.1M | $8.2M | $5.1M | $769,000 | $5.5M | $0 | $0 | $0 |
| Income before taxes | $11.6M | −$909,000 | $10.3M | $3.6M | $8.8M | $9.4M | −$4.0M | −$8.7M | $3.2M | $2.0M |
| Income taxes | $2.8M | −$4.2M | $2.3M | — | $824,000 | $1.6M | −$3.3M | $3.1M | −$10.9M | −$1,000 |
| Net income | $8.8M | $3.3M | $8.0M | $3.7M | $8.0M | $7.8M | −$724,000 | −$11.8M | $14.1M | $2.0M |
| EBITDA | $36.8M | $25.3M | $38.1M | $27.0M | $22.9M | $17.4M | $4.4M | −$3.2M | $3.7M | $3.2M |
| EPS (diluted) | $0.89 | $0.97 | $0.83 | $0.89 | $0.75 | $0.67 | $0.43 | $0.29 | $0.30 | $0.25 |
| Gross margin | 85.1% | 85.8% | 86.7% | 86.2% | 87.9% | 87.0% | 85.5% | 86.3% | 91.1% | 90.2% |
| Operating margin | 9.3% | 1.3% | 9.0% | 9.7% | 11.1% | 8.8% | −5.4% | −12.3% | 6.1% | 5.3% |
| Net margin | 4.9% | 1.9% | 4.7% | 2.6% | 6.7% | 7.7% | −0.9% | −18.6% | 31.0% | 5.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $54.0M | $54.8M | $44.2M | $44.8M | $45.7M | $51.9M | $37.3M | $43.2M | $45.0M | $47.0M | $37.7M | $43.1M |
| Cost of revenue | $8.2M | $8.6M | $8.4M | $7.3M | $7.0M | $6.5M | $5.9M | $6.2M | $6.5M | $6.2M | $6.3M | $5.7M |
| Gross profit | $45.9M | $46.3M | $35.8M | $37.5M | $38.7M | $45.4M | $31.3M | $37.1M | $38.5M | $40.8M | $31.4M | $37.4M |
| Research & development | $8.1M | $7.6M | $7.4M | $8.2M | $9.0M | $9.8M | $8.3M | $6.1M | $10.0M | $9.7M | $6.5M | $7.5M |
| Sales, general & admin | $23.0M | $21.8M | $19.2M | $21.2M | $22.4M | $20.6M | $21.6M | $19.4M | $23.0M | $26.0M | $24.3M | $21.9M |
| Total operating expenses | $34.3M | $41.3M | $30.4M | $32.8M | $34.9M | $34.0M | $34.4M | $29.3M | $37.8M | $40.1M | $34.7M | $35.6M |
| Operating income | $11.5M | $13.5M | $5.4M | $4.7M | $3.8M | $11.4M | −$3.1M | $7.7M | $734,000 | $698,000 | −$3.3M | $1.8M |
| Interest expense | $721,000 | $1.4M | $2.5M | $2.5M | $2.5M | $2.4M | $2.4M | $2.4M | $2.3M | $2.3M | $2.4M | $2.4M |
| Income before taxes | $11.2M | $12.7M | $4.4M | $3.3M | $3.1M | $10.1M | −$4.9M | $7.2M | −$159,000 | −$415,000 | −$3.6M | $355,000 |
| Income taxes | $2.8M | $3.2M | $1.6M | $1.4M | $749,000 | $916,000 | −$297,000 | −$1.4M | −$375,000 | −$697,000 | −$2.1M | $783,000 |
| Net income | $8.4M | $9.5M | $2.8M | $1.9M | $2.4M | $9.2M | −$4.6M | $8.6M | $216,000 | $282,000 | −$1.4M | −$428,000 |
| EBITDA | $16.7M | $18.6M | $10.6M | $9.3M | $9.6M | $16.4M | $1.5M | $13.7M | $6.5M | $6.2M | $3.1M | $7.4M |
| EPS (diluted) | $0.27 | $0.38 | $0.26 | $0.24 | $0.14 | $0.36 | $0.15 | $0.33 | $0.25 | $0.24 | $0.15 | $0.13 |
| Gross margin | 84.9% | 84.4% | 81.0% | 83.7% | 84.6% | 87.4% | 84.0% | 85.7% | 85.6% | 86.8% | 83.3% | 86.7% |
| Operating margin | 21.4% | 24.7% | 12.3% | 10.5% | 8.3% | 21.9% | −8.3% | 17.8% | 1.6% | 1.5% | −8.7% | 4.2% |
| Net margin | 15.5% | 17.4% | 6.3% | 4.2% | 5.2% | 17.6% | −12.4% | 19.8% | 0.5% | 0.6% | −3.8% | −1.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MITK's financial statements (latest annual report filed December 11, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MITK financial results
In fiscal year 2025 (ended September 30, 2025), Mitek Systems reported revenue of $179.7 million, up 4.4% from the year before. It had net income of $8.8 million (up 168.3%), a net profit margin of 4.9%. Diluted earnings per share came to $0.89. Over five years revenue grew at an average rate of 12.1% a year.
See the MITK stock overview for the latest quote and news, or the MITK chart for price history and technical indicators.
MITK income statement FAQ
What is Mitek Systems's annual revenue?
Mitek Systems reported total revenue of $179.7 million for fiscal year 2025, which ended on September 30, 2025. That was up 4.4% from $172.1 million the previous year.
Is Mitek Systems profitable?
Yes. Mitek Systems reported net income of $8.8 million in fiscal 2025, a net profit margin of 4.9%; its operating margin was 9.3%.
What is Mitek Systems's gross margin?
Mitek Systems's gross margin was 85.1% in fiscal 2025: for every $100 of revenue, Mitek Systems kept $85 after the direct cost of its products and services.
How much does Mitek Systems spend on research and development?
Mitek Systems spent $35.3 million on research and development in fiscal 2025, 19.6% of revenue.
How fast is Mitek Systems growing?
Revenue grew 12.1% a year on average over the last five fiscal years, from $101.3 million to $179.7 million.
What are Mitek Systems's earnings per share?
Mitek Systems earned $0.89 per diluted share in fiscal 2025, compared with $0.97 a year earlier.
When will Mitek Systems report its next earnings?
Mitek Systems is expected to report results for the quarter ending September 30, 2026 on December 10, 2026 after the market closes.
When does Mitek Systems's fiscal year end?
Mitek Systems's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on December 11, 2025.