Mitek Reports Second Quarter Fiscal 2015 Financial Results
Revenue up 26.% year-over-year
Highlights
- Record quarterly revenue of $5.7 million, up 26.5% year-over-year
- Achieved third consecutive profitable quarter
- Mobile Deposit® grew to 3,705 financial institutions now signed, 3,181 live
- Granted 21st patent, 9th for Mobile Deposit®
Mitek (NASDAQ: MITK) today announced its financial results for the second quarter of fiscal 2015, which ended March 31, 2015.
“Our ninth consecutive quarter of year-over-year revenue growth is a testament to the compelling user experience and strong science of our products,” said James B. DeBello, president and CEO of Mitek. “Our proven Mobile Deposit technology is the foundation that allows us to enter exciting new markets where we can deliver customer acquisition and identity solutions to our customers.”
Total revenue for the second quarter of fiscal 2015 was $5.7 million compared to total revenue of $4.5 million in the second quarter of fiscal 2014, driven by continued strong demand for Mitek’s Mobile Deposit® product.
GAAP net income for the second quarter of fiscal 2015 was $508,000, or $0.02 per diluted share, compared to GAAP net loss of $(2.2) million, or $(0.07) per share, in the second quarter of fiscal 2014. Non-GAAP net income for the second quarter of fiscal 2015 was $1.7 million, or $0.05 per share, compared to non-GAAP net loss of $(43,000), or breakeven per diluted share, in the second quarter of fiscal 2014.