Mitek Systems reported Q4 2020 revenues of $30.6, a record 22% jump year over year basis, according to the company’s press release. The company’s full-year revenues rose 20% to 101.3 million year over year basis, fueled by an increase in demand for mobile deposit and identity verification capabilities as more people and businesses moved online. ‘

  • Q4 2020 Financial Highlights
    • GAAP net income was $5.0 million or $0.12 diluted earnings per share (EPS), up from $3.3 million or $0.08 EPS in Q4 2019.
    • Non-GAAP net income was up 31% year over year to a record $11.4 million or $0.26 EPS.
    • Cash flow from operations was $6.7 million. 
    • Total cash and investments were $62.0 million at the end of Q4.
  • Full FY2020 Financial Highlights
    • GAAP net income was $7.8 million or $ 0.18 EPS, up from a loss of $724,000 or ($0.02) EPS.
    • Non-GAAP net income was up 66% year over year to a record $28.6 million or $0.67 EPS.
    • FY2020 cash flow from operations was $24.1 million.

Mitek  Systems stock is gaining. MITK: NASDAQ is up on premarket 2.91%