MITEK SYSTEMS INC
For the period ended Sep 30, 2025. Filed Dec 11, 2025.
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FY2025 · Filed Dec 11, 2025
MITK$18.50+7.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows F-
(amounts in thousands)
| For the twelve months ended September 30, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities: | |||
| Net income (loss) | $8,796 | $3,278 | $8,027 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Stock-based compensation expense | 16,810 | 12,624 | 10,463 |
| Loss on extinguishment of revolving credit line | 309 | — | — |
| Amortization of intangible assets | 14,143 | 15,156 | 16,992 |
| Amortization of costs capitalized to obtain revenue contracts(1) | 1,896 | 1,662 | 1,514 |
| Depreciation expense | 1,315 | 1,755 | 1,727 |
| Bad debt expense(1) | 803 | 647 | 737 |
| Amortization of investment premiums & other | (1,107) | (2,624) | (722) |
| Accretion and amortization on debt securities | 8,614 | 8,085 | 7,546 |
| Net changes in estimated fair value of acquisition-related contingent consideration | — | 136 | 2,056 |
| Deferred taxes | (9,576) | (10,434) | (5,496) |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable(1) | (5,697) | 489 | 3,579 |
| Contract assets | 5,489 | 4,600 | (12,471) |
| Other assets(1) | (1,293) | (1,534) | (2,638) |
| Accounts payable | (3,371) | (450) | 2,535 |
| Accrued payroll and related taxes | 6,362 | 240 | 18 |
| Income taxes payable | 2,530 | (4,560) | 5,577 |
| Deferred revenue | 7,949 | 3,221 | (5,217) |
| Restructuring accrual | — | — | (977) |
| Other liabilities | 1,368 | (603) | (1,664) |
| Net cash provided by (used in) operating activities | 55,340 | 31,688 | 31,586 |
| Investing activities: | |||
| Purchases of investments | (40,610) | (62,433) | (71,733) |
| Maturities of investments(1) | 46,250 | 92,617 | 66,250 |
| Sales of investments(1) | 1,350 | — | — |
| Acquisitions, net of cash acquired | — | — | (267) |
| Purchases of property and equipment, net | (1,155) | (1,438) | (1,034) |
| Net cash provided by (used in) investing activities | 5,835 | 28,746 | (6,784) |
| Financing activities: | |||
| Payment of debt issuance costs | (224) | (290) | — |
| Proceeds from the issuance of equity plan common stock | 1,701 | 1,889 | 1,737 |
| Repurchases and retirements of common stock | (4,738) | (24,180) | — |
| Payment of acquisition-related contingent consideration | — | (4,641) | — |
| Proceeds from other borrowings | 1,691 | 1,496 | — |
| Principal payments on other borrowings | (276) | (156) | (36) |
| Net cash provided by (used in) financing activities | (1,846) | (25,882) | 1,701 |
| Foreign currency effect on cash and cash equivalents | 1,368 | (9) | 351 |
| Net increase in cash and cash equivalents | 60,697 | 34,543 | 26,854 |
| Cash and cash equivalents at beginning of period | 93,456 | 58,913 | 32,059 |
| Cash and cash equivalents at end of period | $154,153 | $93,456 | $58,913 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid for interest | $1,164 | $1,274 | $1,413 |
| Cash paid for income taxes | $9,087 | $11,989 | $3,836 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Acquisition-related shares issued | $— | $3,471 | $— |
| Unrealized holding gain (loss) on available-for-sale investments | $(68) | $301 | $889 |
1)Consolidated statement of cash flows for the twelve months ended September 30, 2023 reflect revisions and reclassifications to conform to the current year presentation.
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