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%
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