MITEK SYSTEMS INC

For the period ended Sep 30, 2024. Filed Dec 16, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Dec 16, 2024

MITK$18.50+7.3%Stored close · as of Nov 9, 2026

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Contents

Consolidated Balance Sheets F-

(amounts in thousands except share data)

	September 30,
	2024	2023
ASSETS
Current assets:
Cash and cash equivalents	$93,456	$58,913
Short-term investments	36,884	74,700
Accounts receivable, net	31,682	32,132
Contract assets, current portion	15,818	18,355
Prepaid expenses	4,514	3,513
Other current assets	2,697	2,396
Total current assets	185,051	190,009
Long-term investments	11,410	1,304
Property and equipment, net	2,564	2,829
Right-of-use assets	4,662	4,140
Intangible assets, net	54,137	64,674
Goodwill	131,574	123,548
Deferred income tax assets	19,145	11,645
Contract assets, non-current portion	3,620	5,579
Other non-current assets	1,590	1,647
Total assets	$413,753	$405,375
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$7,236	$7,589
Accrued payroll and related taxes	10,324	10,554
Accrued liabilities(1)	424	26
Accrued interest payable	205	305
Income tax payables	162	4,329
Deferred revenue, current portion	21,231	17,360
Lease liabilities, current portion	805	1,902
Acquisition-related contingent consideration	—	7,976
Other current liabilities(1)	1,760	1,456
Total current liabilities	42,147	51,497
Convertible senior notes	143,601	135,516
Deferred revenue, non-current portion	753	957
Lease liabilities, non-current portion	4,230	2,867
Deferred income tax liabilities	3,889	6,476
Other non-current liabilities	4,332	2,874
Total liabilities	198,952	200,187
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued and outstanding, as of September 30, 2024 and 2023	—	—
Common stock, $0.001 par value, 120,000,000 shares authorized, 44,998,939 and 45,591,199 issued and outstanding, as of September 30, 2024 and 2023, respectively	45	46
Additional paid-in capital	247,326	228,691
Accumulated other comprehensive loss	(2,302)	(14,237)
Accumulated deficit	(30,268)	(9,312)
Total stockholders’ equity	214,801	205,188
Total liabilities and stockholders’ equity	$413,753	$405,375

(1)September 30, 2023 consolidated balance sheet reflects reclassifications to conform to the current year presentation.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.