Mitek Historical Income Statement

MITK Stock

USD 9.59 0.25 2.68%

Historical analysis of Mitek Systems income statement accounts such as Gross Profit of 180.6 M can show how well Mitek Systems performed in making a profits. Evaluating Mitek Systems income statement over time to spot trends is a great complementary tool to traditional technical analysis and can indicate the direction of Mitek Systems's future profits or losses.

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Financial Statement Analysis is much more than just reviewing and examining Mitek Systems latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Mitek Systems is a good buy for the upcoming year.

Net Income Gross Profit

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mitek Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Mitek Stock please use our How to buy in Mitek Stock guide.

About Mitek Income Statement Analysis

Mitek Systems Income Statement consists of revenues and expenses along with the resulting net income or loss. It represents the profit for the accounting period attributable to Mitek Systems shareholders. The income statement also shows Mitek investors and management if the firm made money during the period reported. The result of an income statement is the net income that is calculated after subtracting the expenses from revenue. It is essential to investors both as an absolute measure as well as earnings per share (i.e., EPS).

Mitek Systems Income Statement Chart

At this time, Mitek Systems' Operating Income is quite stable compared to the past year. EBIT is expected to rise to about 23.4 M this year, although the value of Non Recurring is projected to rise to (7.7 M).

Total Revenue Gross Profit Other Operating Expenses

Total Revenue

Total revenue comprises all receipts Mitek Systems generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.

Gross Profit

Gross profit is a required income statement account that reflects total revenue of Mitek Systems minus its cost of goods sold. It is profit before Mitek Systems operating expenses, interest payments and taxes. Gross profit is also known as gross margin. The profit a company makes after deducting the costs associated with making and selling its products, or the costs associated with providing its services.

Other Operating Expenses

Other Operating Expenses is the expense which generally does not depend on sales or production quantities of Mitek Systems. It is also known as Mitek Systems overhead expenses. Typically these expenses include marketing, rent and utilities, office, leases, and other overhead cost. Expenses incurred from non-core business activities, including administrative and general expenses, but excluding costs directly related to production.

Most accounts from Mitek Systems' income statement are interrelated and interconnected. However, analyzing income statement accounts one by one will only give a small insight into Mitek Systems current financial condition. On the other hand, looking into the entire matrix of income statement accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mitek Systems. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Mitek Stock please use our How to buy in Mitek Stock guide.At this time, Mitek Systems' Operating Income is quite stable compared to the past year. EBIT is expected to rise to about 23.4 M this year, although the value of Non Recurring is projected to rise to (7.7 M).

	2021	2022	2023	2024 (projected)
Gross Profit	124.8M	149.6M	172.0M	180.6M
Total Revenue	144.8M	172.6M	198.4M	208.4M

Gross Profit Total Revenue

Mitek Systems income statement Correlations

	Depreciation And Amortization	Interest Expense	Total Revenue	Gross Profit	Other Operating Expenses	Operating Income	Ebit	Ebitda	Cost Of Revenue	Total Operating Expenses	Net Income	Income Tax Expense	Income Before Tax	Total Other Income Expense Net	Research Development	Selling General Administrative	Selling And Marketing Expenses	Net Income From Continuing Ops	Non Operating Income Net Other	Non Recurring	Tax Provision	Interest Income	Reconciled Depreciation	Extraordinary Items
Depreciation And Amortization		0.93	0.98	0.98	0.99	0.87	0.9	0.89	0.98	0.99	0.52	0.44	0.71	-0.73	0.95	0.96	-0.23	0.51	0.6	-0.69	0.47	-0.65	0.99	0.64
Interest Expense	0.93		0.92	0.92	0.93	0.85	0.88	0.84	0.93	0.93	0.5	0.34	0.65	-0.87	0.9	0.91	-0.2	0.5	0.71	-0.81	0.35	-0.53	0.94	0.53
Total Revenue	0.98	0.92		1.0	0.99	0.91	0.93	0.95	0.98	0.99	0.61	0.38	0.79	-0.76	0.97	0.92	-0.26	0.61	0.68	-0.75	0.43	-0.66	0.98	0.65
Gross Profit	0.98	0.92	1.0		0.99	0.91	0.93	0.95	0.98	0.99	0.62	0.37	0.79	-0.76	0.98	0.91	-0.29	0.61	0.69	-0.75	0.42	-0.66	0.98	0.65
Other Operating Expenses	0.99	0.93	0.99	0.99		0.88	0.91	0.9	0.98	1.0	0.55	0.4	0.73	-0.75	0.98	0.95	-0.28	0.55	0.66	-0.75	0.43	-0.63	0.98	0.63
Operating Income	0.87	0.85	0.91	0.91	0.88		0.99	0.92	0.89	0.88	0.82	0.24	0.94	-0.68	0.87	0.82	-0.12	0.82	0.8	-0.8	0.28	-0.56	0.87	0.55
Ebit	0.9	0.88	0.93	0.93	0.91	0.99		0.92	0.92	0.9	0.78	0.28	0.92	-0.68	0.89	0.87	-0.13	0.78	0.78	-0.79	0.31	-0.58	0.9	0.58
Ebitda	0.89	0.84	0.95	0.95	0.9	0.92	0.92		0.93	0.91	0.7	0.31	0.88	-0.75	0.88	0.76	-0.17	0.7	0.68	-0.7	0.41	-0.71	0.93	0.7
Cost Of Revenue	0.98	0.93	0.98	0.98	0.98	0.89	0.92	0.93		0.97	0.56	0.43	0.77	-0.77	0.94	0.91	-0.09	0.56	0.62	-0.75	0.47	-0.66	0.99	0.65
Total Operating Expenses	0.99	0.93	0.99	0.99	1.0	0.88	0.9	0.91	0.97		0.55	0.39	0.73	-0.75	0.98	0.94	-0.31	0.55	0.66	-0.74	0.43	-0.64	0.98	0.63
Net Income	0.52	0.5	0.61	0.62	0.55	0.82	0.78	0.7	0.56	0.55		-0.28	0.9	-0.37	0.56	0.48	-0.09	1.0	0.77	-0.59	-0.22	-0.37	0.53	0.37
Income Tax Expense	0.44	0.34	0.38	0.37	0.4	0.24	0.28	0.31	0.43	0.39	-0.28		0.16	-0.25	0.38	0.4	0.04	-0.28	-0.07	-0.21	0.98	-0.24	0.44	0.24
Income Before Tax	0.71	0.65	0.79	0.79	0.73	0.94	0.92	0.88	0.77	0.73	0.9	0.16		-0.51	0.73	0.63	-0.03	0.9	0.74	-0.68	0.23	-0.52	0.73	0.52
Total Other Income Expense Net	-0.73	-0.87	-0.76	-0.76	-0.75	-0.68	-0.68	-0.75	-0.77	-0.75	-0.37	-0.25	-0.51		-0.74	-0.63	0.13	-0.38	-0.55	0.72	-0.32	0.44	-0.78	-0.46
Research Development	0.95	0.9	0.97	0.98	0.98	0.87	0.89	0.88	0.94	0.98	0.56	0.38	0.73	-0.74		0.91	-0.36	0.56	0.69	-0.79	0.42	-0.56	0.94	0.56
Selling General Administrative	0.96	0.91	0.92	0.91	0.95	0.82	0.87	0.76	0.91	0.94	0.48	0.4	0.63	-0.63	0.91		-0.26	0.47	0.62	-0.69	0.38	-0.55	0.92	0.54
Selling And Marketing Expenses	-0.23	-0.2	-0.26	-0.29	-0.28	-0.12	-0.13	-0.17	-0.09	-0.31	-0.09	0.04	-0.03	0.13	-0.36	-0.26		-0.07	-0.36	0.17	-0.01	0.09	-0.2	-0.09
Net Income From Continuing Ops	0.51	0.5	0.61	0.61	0.55	0.82	0.78	0.7	0.56	0.55	1.0	-0.28	0.9	-0.38	0.56	0.47	-0.07		0.76	-0.59	-0.22	-0.37	0.52	0.37
Non Operating Income Net Other	0.6	0.71	0.68	0.69	0.66	0.8	0.78	0.68	0.62	0.66	0.77	-0.07	0.74	-0.55	0.69	0.62	-0.36	0.76		-0.88	-0.04	-0.39	0.65	0.39
Non Recurring	-0.69	-0.81	-0.75	-0.75	-0.75	-0.8	-0.79	-0.7	-0.75	-0.74	-0.59	-0.21	-0.68	0.72	-0.79	-0.69	0.17	-0.59	-0.88		-0.22	0.31	-0.74	-0.32
Tax Provision	0.47	0.35	0.43	0.42	0.43	0.28	0.31	0.41	0.47	0.43	-0.22	0.98	0.23	-0.32	0.42	0.38	-0.01	-0.22	-0.04	-0.22		-0.34	0.48	0.34
Interest Income	-0.65	-0.53	-0.66	-0.66	-0.63	-0.56	-0.58	-0.71	-0.66	-0.64	-0.37	-0.24	-0.52	0.44	-0.56	-0.55	0.09	-0.37	-0.39	0.31	-0.34		-0.69	-0.8
Reconciled Depreciation	0.99	0.94	0.98	0.98	0.98	0.87	0.9	0.93	0.99	0.98	0.53	0.44	0.73	-0.78	0.94	0.92	-0.2	0.52	0.65	-0.74	0.48	-0.69		0.68
Extraordinary Items	0.64	0.53	0.65	0.65	0.63	0.55	0.58	0.7	0.65	0.63	0.37	0.24	0.52	-0.46	0.56	0.54	-0.09	0.37	0.39	-0.32	0.34	-0.8	0.68

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Mitek Systems Account Relationship Matchups

Mitek Systems income statement Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Depreciation And Amortization	7.6M	8.7M	10.1M	20.2M	23.3M	24.4M
Interest Expense	769K	5.1M	8.2M	9.1M	8.2M	8.6M
Total Revenue	101.3M	119.8M	144.8M	172.6M	198.4M	208.4M
Gross Profit	88.1M	105.3M	124.8M	149.6M	172.0M	180.6M
Other Operating Expenses	86.1M	92.6M	106.1M	157.0M	180.5M	189.6M
Operating Income	8.9M	13.7M	14M	15.6M	17.9M	18.8M
Ebit	1.5M	9.4M	13.9M	19.4M	22.3M	23.4M
Ebitda	18.2M	24.1M	11.0M	39.6M	45.6M	47.8M
Cost Of Revenue	13.2M	14.5M	20.0M	23.0M	26.4M	27.7M
Total Operating Expenses	79.4M	91.6M	130.8M	134.0M	154.1M	161.8M
Net Income	7.8M	8.0M	3.7M	8.0M	9.2M	9.7M
Income Tax Expense	(3.3M)	1.6M	824K	2.3M	2.1M	2.2M
Income Before Tax	9.4M	9.2M	3.6M	10.3M	11.9M	12.5M
Total Other Income Expense Net	541K	(4.5M)	(2.2M)	(5.2M)	(4.7M)	(4.5M)
Research Development	22.9M	28.0M	30.2M	29.0M	33.3M	35.0M
Selling General Administrative	22.3M	22.5M	65.4M	43.3M	49.8M	52.3M
Net Income Applicable To Common Shares	(11.8M)	(724K)	7.8M	8.4M	9.7M	10.2M
Selling And Marketing Expenses	27.4M	27.6M	32.5M	40.6M	36.5M	34.7M
Net Income From Continuing Ops	7.8M	8.4M	3.7M	8.0M	9.2M	9.7M
Tax Provision	1.6M	824K	(92K)	2.3M	2.7M	2.8M
Reconciled Depreciation	7.9M	8.9M	14.9M	18.7M	21.5M	22.6M

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When determining whether Mitek Systems is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Mitek Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Mitek Systems Stock. Highlighted below are key reports to facilitate an investment decision about Mitek Systems Stock:

How To Invest In Mitek

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Is Mitek Stock a good investment?

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What is Mitek Systems' Net Worth?

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Largest Software - Application Companies

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For more information on how to buy Mitek Stock please use our How to buy in Mitek Stock guide.

You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.

Is Application Software space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Mitek Systems. If investors know Mitek will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Mitek Systems listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.

Quarterly Earnings Growth

(0.94)

Earnings Share

(0.14)

Revenue Per Share

3.59

Quarterly Revenue Growth

0.044

Return On Assets

(0.01)

The market value of Mitek Systems is measured differently than its book value, which is the value of Mitek that is recorded on the company's balance sheet. Investors also form their own opinion of Mitek Systems' value that differs from its market value or its book value, called intrinsic value, which is Mitek Systems' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Mitek Systems' market value can be influenced by many factors that don't directly affect Mitek Systems' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.

Please note, there is a significant difference between Mitek Systems' value and its price as these two are different measures arrived at by different means. Investors typically determine if Mitek Systems is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Mitek Systems' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

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Mitek Historical Income Statement

About Mitek Income Statement Analysis

Mitek Systems Income Statement Chart

Total Revenue

Gross Profit

Other Operating Expenses

Mitek Systems income statement Correlations

Mitek Systems Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Mitek Systems income statement Accounts

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Gross Profit	+ 1.0	Total Revenue
Total Operating Expenses	+ 1.0	Other Operating Expenses
Net Income From Continuing Ops	+ 1.0	Net Income
Other Operating Expenses	+ 0.99	Depreciation And Amortization
Total Operating Expenses	+ 0.99	Depreciation And Amortization
Reconciled Depreciation	+ 0.99	Depreciation And Amortization

Non Recurring	- 0.88	Non Operating Income Net Other
Total Other Income Expense Net	- 0.87	Interest Expense
Non Recurring	- 0.81	Interest Expense
Extraordinary Items	- 0.8	Interest Income
Non Recurring	- 0.8	Operating Income
Non Recurring	- 0.79	Research Development