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Close of 9 Nov 2026, in USD
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About Mitek Systems
From its filings with the US Securities and Exchange Commission
Mitek Systems is based in San Diego, California and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker MITK. The SEC classifies its business as computer peripheral equipment, nec. In the fiscal year to 30 September 2025, it reported revenue of $179.7m and net income of $8.8m. At that date it held total assets of $459.1m and shareholders' equity of $240.3m. By region, United States accounted for 75.8%, followed by All other countries at 12.3% and United Kingdom at 12.0%.
Mitek’s platform addresses key use cases across digital interactions and customer lifecycle, including new account openings, account access, and mobile check deposit. Core capabilities include AI, machine learning, computer vision, and proprietary biometric liveness, and deepfake detection technologies that support identity verification, detect manipulation, and help prevent digital impersonation.
The Company’s Mobile Check Deposit product enables approximately 1.2 billion transactions annually and is widely used by financial institutions to provide consumers with fast, accurate, and secure remote deposit functionality. Mitek’s identity verification technologies are embedded within mobile and web applications, delivering real-time, automated identity validation across critical digital interactions.
As of the date of this filing, Mitek serves more than 7,000 organizations globally, including financial institutions, financial technology (“fintech”) companies, telecommunications providers, and digital marketplaces. The Company’s solutions assist customers in addressing fraud risk, complying with Know Your Customer (“KYC”) and anti-money laundering (“AML”) regulations, and improving operational efficiency and user experience.
Quoted from its 10-K, filed 11 Dec 2025. Read the filing on SEC.gov ↗
Company facts
- Sector
- Information Technology
- Industry
- Software
- Listed since
- 3 Jan 1989
- Employees
- 595
- Website
- miteksystems.com ↗
- Head office
- 770 FIRST AVENUE, SAN DIEGO, CA
- Incorporated in
- DE
- Classification
- Computer Peripheral Equipment, NEC
- Filer status
- Accelerated filer
Leadership
Pay as last reported
- Mr. Scott CarterNon-Executive Chairman of the Board, since 2013$1.4m
- Mr. Edward WestChief Executive Officer, Director, since 2024
- Mr. David LyleChief Financial Officer, Chief Accounting Officer$2.2m
- Mr. Garrett GafkeChief Operating Officer
- Mr. Michael DiamondSenior Vice President, Deposit Solutions$1.4m
- Mr. Jason GrayChief Legal Officer, Chief Compliance Officer, Corporate Secretary$2.4m
- Mr. Christopher BriggsChief Product Officer$1.2m
- Mr. James FayIndependent Director
- Mr. Rahul GuptaIndependent Director$50,000
- Ms. Susan RepoIndependent Director$382,506
- Ms. Kimberly StevensonIndependent Director$388,159
- Ms. Donna WellsIndependent Director$375,006
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 31
- Environment
- 8
- Social
- 61
- Governance
- 25
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Mitek Systems Inc, a cutting-edge technology company, possesses several strengths that contribute to its success. Firstly, the company has developed a range of innovative software solutions for mobile image capture and digital identity verification, making it a leader in this domain. Its expertise in computer vision, artificial intelligence, and deep learning algorithms enables accurate and efficient image recognition and processing, which is highly valuable in various industries.
- Secondly, Mitek Systems Inc has established strong relationships with numerous industry partners and clients, including prominent financial institutions, government agencies, and major corporations. This network provides the company with opportunities for collaboration, expansion, and continued growth. Additionally, the company's extensive customer base and diverse product portfolio contribute to its stability and competitive advantage in the market.
Weaknesses
- Despite its many strengths, Mitek Systems Inc also faces certain weaknesses that could hinder its progress. One notable weakness is the potential vulnerability of its software solutions to cyber threats and security breaches. As the digital world becomes increasingly sophisticated, the company must continually invest in robust cybersecurity measures and stay updated with emerging threats to safeguard its customers' sensitive data and maintain trust in its products.
- Another weakness lies in the company's reliance on strategic partnerships for distribution, which may limit its control over the market and increase its vulnerability to competitors. Mitek Systems Inc should consider diversifying its distribution channels and exploring alternative strategies to reduce this dependence and enhance its market influence.
Opportunities
- Mitek Systems Inc operates in a rapidly evolving technological landscape, which presents numerous opportunities for growth and further innovation. The increasing demand for secure and efficient digital identity verification solutions, driven by trends such as remote banking, e-commerce, and mobile financial services, offers a vast market potential for the company's products. By staying at the forefront of technological advancements and adapting its solutions to evolving customer needs, Mitek Systems Inc can seize these opportunities and expand its market share.
- Furthermore, the proliferation of smartphones and the growing adoption of mobile imaging technology globally provide favorable conditions for the company's image capture and processing solutions. By leveraging these trends, Mitek Systems Inc can tap into new markets, both domestically and internationally, and build a strong customer base.
Threats
- While Mitek Systems Inc operates in a promising industry, it is not immune to potential threats and challenges. One significant threat is the presence of established competitors in the market, who may have similar or alternative offerings. To maintain its competitive edge, the company needs to continue investing in research and development, enhance its product differentiation, and provide superior customer service to differentiate itself from competitors.
- Additionally, changes in regulations and compliance requirements related to digital identity verification and privacy protection may pose challenges to Mitek Systems Inc. The company must closely monitor legal developments and proactively adapt its solutions to ensure compliance, while also adhering to industry standards and best practices.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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