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Mitek Reports Fiscal Third Quarter Revenue of $54.0 Million, Up 18% Year-Over-Year; Raises Full-Year Outlook

MITK
  • Mitek Systems reported third-quarter fiscal 2026 total revenue of $54.0 million, an 18% year-over-year increase.
  • Fraud & Identity SaaS revenue reached a record $24.8 million, representing a 37% year-over-year growth.
  • The company raised its full-year fiscal 2026 revenue guidance to $195–$200 million with an adjusted EBITDA margin outlook of 32%–34%.
  • GAAP net income for the quarter was $8.4 million, compared to $2.4 million in the prior year period.
  • Non-GAAP adjusted EBITDA increased 59% year-over-year to $20.8 million, with an adjusted EBITDA margin of 38.5%.
  • Total cash and investments decreased to $100.2 million, primarily due to the $155 million retirement of Convertible Senior Notes.
  • A top five US bank joined Mitek's Check Fraud Defender consortium network following successful pilot testing.
  • Aaron Seyler was appointed as Chief Revenue Officer, effective August 17, 2026, to lead the global go-to-market organization.
  • Mark Rossi was elected as non-executive Chairman of the Board, succeeding Scott Carter effective October 1, 2026.
  • Fiscal 2026 fourth-quarter revenue guidance was set at $42–$47 million with a midpoint year-over-year growth of approximately 10%.