Mitek Systems Inc. Reports Strong Q2 2025 Earnings

Mitek Systems, Inc., a leading provider of character recognition technology, has reported its Q2 2025 earnings, surpassing analysts’ expectations. The company, based in San Diego, California, specializes in document imaging software and intelligent character recognition products, which are essential for high-volume data entry and forms processing applications.

On May 8, 2025, Mitek Systems announced a non-GAAP earnings per share (EPS) of $0.36, exceeding the anticipated $0.26 by $0.10. This performance reflects a significant improvement from the previous year’s EPS of $0.01 for the same quarter. Additionally, the company’s revenue for the quarter reached $51.93 million, surpassing expectations by $4.46 million.

Analysts had projected an EPS of $0.258 for the quarter, based on estimates from six analysts. The revenue forecast was set at $47.5 million, compared to the actual $51.93 million reported. This marks a 1.06% increase in revenue compared to the $47.0 million recorded in the same quarter of the previous year.

Looking ahead, analysts expect Mitek Systems to achieve a full-year EPS of $0.888, a substantial rise from the $0.070 reported in the prior year. The projected annual revenue stands at $175.5 million, up from $172.1 million in the previous fiscal year.

Mitek Systems’ stock, listed on Nasdaq, closed at $8.36 on May 5, 2025. The company’s market capitalization is currently valued at $366.47 million. Despite the recent positive earnings report, the stock’s 52-week range has seen fluctuations, with a high of $14.32 on May 13, 2024, and a low of $6.93 on April 8, 2025. The price-to-earnings ratio stands at 99.75.

These results underscore Mitek Systems’ strong position in the software industry, particularly in the niche of character recognition technology. The company’s ability to exceed earnings and revenue expectations highlights its ongoing growth and potential in the information technology sector.