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MITK Mitek Systems

Mitek Systems Inc. is a global leader in mobile capture and digital identity verification built on the latest advancements in computer vision and artificial intelligence. Mitek's identity verification solutions enable organizations to verify an individual's identity during digital transactions to reduce risk and meet regulatory requirements, while increasing revenue from digital channels. More than 7,500 organizations use Mitek to enable trust and convenience for mobile check deposit, new account opening and more. Mitek is based in San Diego, Calif., with offices across the U.S. and Europe.

Company profile

Ticker
MITK
Exchange
CEO
Scipio Carnecchia
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
870418827

MITK stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 May 21
27 Jul 21
30 Sep 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18 Sep 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
19 Jul 21 Frank Teruel Common Stock Grant Aquire A No No 0 65,971 0 65,971
22 Jun 21 Davison Jeffrey C Common Stock Sell Dispose S No No 18.78 11,685 219.44K 127,302
7 Jun 21 Susan Repo Common Stock Grant Aquire A No No 0 5,473 0 5,473

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

72.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 173 156 +10.9%
Opened positions 48 35 +37.1%
Closed positions 31 23 +34.8%
Increased positions 61 52 +17.3%
Reduced positions 43 54 -20.4%
13F shares
Current Prev Q Change
Total value 1.37B 535.04M +155.1%
Total shares 31.33M 29.81M +5.1%
Total puts 320.9K 98.2K +226.8%
Total calls 484.1K 298K +62.4%
Total put/call ratio 0.7 0.3 +101.2%
Largest owners
Shares Value Change
LGEN Legal & General 3.26M $47.5M +8.8%
BLK Blackrock 3.14M $45.82M +9.1%
Go Etf Solutions 2.99M $53.13M 0.0%
Vanguard 2.35M $34.32M +0.1%
Toronado Partners 2.33M $33.98M -4.4%
Blue Grotto Capital 1.37M $20.02M -9.8%
STT State Street 1.17M $17.03M -0.2%
Independent Advisor Alliance 1.08M $15.79M +6.6%
BMO Bank of Montreal 708.33K $10.94M +97.7%
Geode Capital Management 704.96K $10.28M +11.6%
Largest transactions
Shares Bought/sold Change
DB Deutsche Bank AG - Registered Shares 558.97K +498.59K +825.7%
BMO Bank of Montreal 708.33K +350.05K +97.7%
Wisconsin Capital Management 332.93K +332.93K NEW
JEF Jefferies 317.2K +317.2K NEW
LGEN Legal & General 3.26M +262.42K +8.8%
BLK Blackrock 3.14M +261.12K +9.1%
Arrowstreet Capital, Limited Partnership 0 -240.96K EXIT
BAC Bank Of America 238.93K +213.64K +844.9%
Renaissance Technologies 334.98K -207.02K -38.2%
RY Royal Bank Of Canada 551.92K -205.93K -27.2%

Financial report summary

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Risks
  • Our indebtedness and liabilities could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our obligations under the 2026 Notes.
  • We may be unable to raise the funds necessary to repurchase the 2026 Notes for cash following a fundamental change, or to pay any cash amounts due upon conversion, and our future indebtedness may limit our ability to repurchase the 2026 Notes or pay cash upon their conversion.
  • Provisions in the 2026 Notes Indenture could delay or prevent an otherwise beneficial takeover of us.
  • The accounting method for the 2026 Notes could adversely affect our reported financial condition and results.
  • The conditional conversion feature of the 2026 Notes, if triggered, may adversely affect our financial condition and operating results.
  • The Notes Hedge and Warrant Transactions may affect the value of our common stock.
  • We will be subject to counterparty risk with respect to the Notes Hedge transactions.
  • Conversion of the 2026 Notes or exercise of the warrants evidenced by the Warrant Transactions may dilute the ownership interest of existing stockholders.
Management Discussion
  • ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
  • This Quarterly Report on Form 10-Q (this “Form 10-Q”), contains “forward-looking statements” that involve risks and uncertainties, as well as assumptions that, if they never materialize or they prove incorrect, could cause our results to differ materially and adversely from those expressed or implied by such forward-looking statements. The forward-looking statements are contained principally in Part I, Item 2—“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Part II, Item 1A—“Risk Factors,” but appear throughout this Form 10-Q. Forward-looking statements may include, but are not limited to, statements relating to our outlook or expectations for earnings, revenues, expenses, asset quality, volatility of our common stock, financial condition or other future financial or business performance, strategies, expectations, or business prospects, the duration and impact of the novel COVID-19 pandemic on our business, our customers, and markets generally, or the impact of legal, regulatory, or supervisory matters on our business, results of operations, or financial condition.
  • Forward-looking statements can be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “target”, “will,” “would,” “could,” “can,” “may”, or similar expressions. Forward-looking statements reflect our judgment based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in Part II, Item 1A—“Risk Factors” in this Form 10-Q and in our other filings with the U.S. Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the fiscal year ended September 30, 2020, filed with the U.S. Securities and Exchange Commission on December 7, 2020, as amended by Amendment No. 1 to the Annual Report on Form 10-K/A (the “Form 10-K”), filed with the SEC on December 11, 2020. Additionally, there may be other factors that could preclude us from realizing the predictions made in the forward-looking statements. We operate in a continually changing business environment and new factors emerge from time to time. We cannot predict such factors or assess the impact, if any, of such factors on our financial position or results of operations. All forward-looking statements included in this Form 10-Q speak only as of the date of this Form 10-Q and you are cautioned not to place undue reliance on any such forward-looking statements. Except as required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect any events or circumstances after the date of this Form 10-Q or to reflect the occurrence of unanticipated events.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: aforementioned, agency, bankruptcy, bifurcated, bifurcation, calendar, choose, collateral, Concurrently, condensed, consecutive, constitute, contra, conversion, convert, converted, convertibility, convertible, converting, count, counterparty, coupon, creditor, customary, daily, dedication, default, disadvantage, discourage, equivalent, evidenced, fail, failure, feature, flexibility, flow, fundamental, Goldman, hedge, hedging, incumbent, indenture, infrastructure, insolvency, instrument, insufficient, issuable, issuer, joint, leveraged, maximum, National, noncash, notice, notionally, original, permanent, preceding, premium, prevailing, published, Recent, recently, refinance, remeasured, removing, secondary, semiannually, smaller, stipulation, strike, Subtopic, sum, takeover, temporarily, treatment, trustee, turn, UMB, unamortized, unchanged, unissued, unknown, unpaid, unsecured, unwinding, viability
Removed: applied, consistently, declining, legacy, phased

Patents

APP
Utility
Exterior Wall System
22 Jul 21
An exterior wall section forms a portion of an exterior wall of a building.
APP
Utility
Ultra Stable Structural Laminate
15 Jul 21
An ultra-stable structural laminate with fire resistance and a lateral nail pull strength from 44 to 300 pounds of force and an insulation R value from 1 to 40, the ultra-stable structural laminate of a cementious material with a nano-molecular veneer and a foam component catalytically reacted into an expanded closed cell foam having a thickness from ⅛th inch to 8 inches, a density from 1.5 pounds/cubic foot to 3 pounds/cubic foot that self-adheres to the cementitious material forming an ultra-stable structural laminate with fire resistance and a lateral nail pull strength from 44 pounds to 300 pounds of force, an insulation R value from 1 to 40, a resistance to seismic impact for earthquakes over 3.1 on the Richter Scale, a break point from 7 lbs/inch to 100 lbs/inch; and a resistance to wind shear equivalent to a 15 mph downburst.
APP
Utility
Passive Split Heat Recovery System
15 Jul 21
A heat pipe heat exchanger is used in combination with a damper assembly to selectively control an amount of heat exchange provided.
GRANT
Utility
Cleanroom small ceiling speaker system
29 Jun 21
A cleanroom compatible elastomeric cover for an acoustic attachment, such as a diffuser or a director, to a Small Ceiling Speaker System.
APP
Utility
Browser-based Mobile Image Capture
17 Jun 21
Systems and methods for integrating mobile image capture with an internet browser application on a mobile device are provided, wherein a user viewing a web page via the internet browser application can initiate a mobile image capture process on the mobile device through the web page, capture images with a mobile image capture user interface, and then provide secure access to the captured images for the web page in order to utilize the content of the captured images.