Mitek Sys Inc - MITK STOCK NEWS

Mitek (NASDAQ: MITK) announced that CEO Max Carnecchia and CFO Jeff Davison will present at the 16th Annual Needham Virtual Technology and Media Conference on May 18th at 2:15 p.m. ET. The presentation will be streamed live, with a replay available on the company's investor relations website. Mitek specializes in mobile capture and digital identity verification solutions, helping over 7,500 organizations enhance trust and comply with regulations during digital transactions. For meeting inquiries, contact Mitek's investor relations via email.

Mitek (NASDAQ: MITK) reported record financial results for Q2 fiscal 2021 ending March 31, 2021, with a revenue increase of 24% year-over-year to $28.8 million. The transactional identity verification revenue surged by 50%, highlighting strong demand for digital solutions. GAAP net income reached $1.0 million or $0.02 per diluted share, while non-GAAP net income grew 34% to $7.3 million, or $0.16 per diluted share. The company strengthened its balance sheet with a successful convertible debt offering, adding $150 million in cash.

Mitek (NASDAQ: MITK) will release its financial results for the second quarter of fiscal 2021 on April 29, 2021, after the market closes. A conference call for analysts and investors will follow at 1:30 PM PT (4:30 PM ET) to discuss these results. Mitek is a leader in mobile capture and digital identity verification, serving over 7,500 organizations globally. The company aims to enhance identity verification processes during digital transactions, thereby reducing risks and increasing revenue streams. Further details are available on their website.

Mitek (NASDAQ: MITK), a leader in mobile capture and digital identity verification, announced CEO Max Carnecchia will present at Maxim Group's Inaugural Emerging Growth Virtual Conference from March 17-19, 2021. He will participate in a fireside chat with analyst Allen Klee on March 19 from 10:30 am to 11:00 am ET. Mitek's innovative solutions help over 7,500 organizations verify identities in digital transactions, reducing risk and ensuring compliance. For more information, visit www.miteksystems.com.

Mitek Systems has priced a private offering of $135 million in 0.750% Convertible Senior Notes due 2026, up from an initially announced $125 million. The offering, closing on February 5, 2021, will provide net proceeds of approximately $130.3 million, allocated for convertible note hedge transactions and general corporate purposes including potential acquisitions. The Notes are convertible at an initial rate of 47.9731 shares per $1,000 principal, translating to a conversion price of about $20.85 per share, a 37.5% premium to its last closing price of $15.16.

Mitek (NASDAQ: MITK) plans to offer $125 million in Convertible Senior Notes due 2026, with an option for initial purchasers to acquire an additional $18.75 million. The offering is aimed at qualified institutional buyers and will not be registered under the Securities Act. Proceeds will cover the cost of convertible note hedge transactions and support general corporate purposes. Mitek’s obligations under the Notes will rank equally with future senior debt and require stockholder approval for certain conversions. This could lead to potential dilution of Mitek’s common stock.

Mitek (NASDAQ: MITK) reported a strong start to fiscal 2021 with a record first-quarter revenue of $26.0 million, representing an 18% year-over-year increase. This growth was driven by a significant 40% rise in identity verification revenue, reflecting increased demand for mobile deposit and digital identity solutions. Net income for the quarter was $2.2 million, or $0.05 per diluted share, while non-GAAP net income rose 23% to $6.2 million, or $0.14 per diluted share. Mitek’s cash flow from operations stood at $8.7 million, with total cash and investments at $72.6 million.

Mitek (NASDAQ: MITK) will release its financial results for Q1 fiscal 2021, concluding December 31, 2020, on January 28, 2021, after market close. A conference call for analysts and investors will follow at 1:30 PM PT. The company focuses on digital identity verification solutions, serving over 7,500 organizations globally. Their technology enhances transaction trust and meets regulatory standards, ultimately driving revenue growth. For further details, visit www.miteksystems.com.

Mitek (NASDAQ: MITK), a leader in mobile capture and digital identity verification, announced its participation in the 23rd Annual Needham Virtual Growth Conference on January 12, 2021, at 3:30 PM ET. CEO Max Carnecchia and CFO Jeff Davison will present, followed by virtual one-on-one meetings with investors. The presentation will be streamed live and available for replay on Mitek's investor relations website. The company utilizes advanced technology to help organizations verify identities during digital transactions.