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EarningsQ2 2026 Earnings Report
MITK Q2 2026 EPS Results
Actual EPS$0.38
Consensus EPS$0.34
Beat/MissBeat by +$0.04
One Year Ago EPS$0.36
MITK Q2 2026 Revenue Results
Actual Revenue$54.84M
Expected Revenue$52.59M
Beat/MissBeat by +$2.25M
YoY Revenue Growth+5.61%
Earnings Announcement Details
QuarterQ2 2026
Date05/07/2026
TimeAfter Close
Conference CallThursday, May 7, 2026
MITK Upcoming Earnings
Mitek Systems's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MITK Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed materially positive operational and financial momentum: record revenue and adjusted EBITDA, robust 28% growth in the strategic Fraud & Identity portfolio, improving SaaS mix, strengthened balance sheet (retired convertible notes, net cash position) and raised FY guidance. Headwinds are present but manageable — check verification seasonality and renewal timing, YoY gross margin compression due to mix and implementation costs, quarter-specific negative free cash flow from AR timing, and lumpy biometric license recognition. On balance, the positives (durable cash franchise, strong SaaS/network growth, margin leverage, and upgraded guidance) outweigh the near-term, largely timing-related challenges.Company Guidance
Record Revenue and Adjusted EBITDA
Total revenue of $54.8M, up 6% year-over-year, and record adjusted EBITDA of $22.3M (approx. 41% margin), up 10% year-over-year. Non-GAAP net income was $18.5M and adjusted diluted EPS was $0.38.
Strong Fraud & Identity Growth
Fraud & Identity revenue grew 28% year-over-year, driven by SaaS adoption, higher-value workflows and meaningful biometric license activity; company raised full-year Fraud & Identity revenue outlook to $103M–$108M (≈17% growth at midpoint).
SaaS Mix Improvement and Network Effects
Total SaaS revenue grew 18% year-over-year and now represents ~44% of last-12-month revenue (up from 40% a year ago). Check Fraud Defender (CFD) ACV exceeds $19M (up >50% YoY), with contributing datasets covering >60% of U.S. checking accounts and annualized volumes in the billions—strengthening proprietary network signals and expansion opportunities.
Improved Profitability, Raised Guidance and Capital Returns
Raised full-year revenue guidance to $189M–$198M (≈8% growth at midpoint) and raised FY adjusted EBITDA margin guidance to 30%–33%. Ended quarter with $78M in cash/investments and a net cash position of $23.1M after retiring convertible notes; returned $8M via share repurchases and announced a $50M repurchase program.
Durable, Cash-Generative Check Verification Franchise
Check verification revenue of $29.1M for the quarter and trailing-12-month check verification revenue of $88.2M, with multiple renewals and integrations across processors and FIs (e.g., FIS, Jack Henry), providing deep FI ecosystem connectivity and expansion into adjacent fraud use cases.
MITK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed