FB pixel

Mitek’s much-delayed financials show a loss but a gain for revenue

Mitek’s much-delayed financials show a loss but a gain for revenue
 

There, now was that so hard? Digital ID verifier Mitek Systems has finally released its fiscal 2022 financials. The company faced delisting from the Nasdaq exchange for its delay.

Executives had said they were switching independent registered public accounting firms. Its previous contractor resigned a year ago. The switch reportedly had been disruptive.

But the news is out and it’s not all bad.

Revenue for the year, ended September 30, rose 20 percent compared to fiscal 2021 thanks to new revenue from the buyout of HooYu. The company also is reporting that demand has increased for its ID verification and deposits software.

For the fiscal year 2022, Mitek reported a profit of $3 million, or $0.07 per basic and diluted share, on revenue of $143.9 million. That compares with a fiscal 2021 profit of $7.9 million, or $0.18 per share, on revenue of $119 million.

It reported a fourth-quarter net loss of $311,000, or a basic and diluted loss of $0.01 per share, on revenue of $38.7 million. That compares with a profit of $1.8 million, or $0.04 per share, on revenue of $33.2 million during the same period in 2021.

Mitek recently joined a consortium to pilot a network of selfie biometrics providers sharing real-time fraud intelligence.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Biometrics investors pursue scale, sustainability balance

Budgets for biometrics and government digital ID programs made up the main theme of the most-read news items on Biometric…

 

New FaceTec CLO among avalanche of appointments in biometrics and fraud protection

New executives have been named by biometrics providers FaceTec, Pindrop and Fingerprint Cards, along with C-level appointments by Prove and…

 

Indonesia issues call for World Bank-backed digital identification project

Indonesia is looking for a company providing consulting services as a part of its upcoming digital transformation project backed by…

 

Affinidi data sharing framework leverages privacy-preserving open standards

Affinidi, a company specializing in data and identity management, unveiled the Affinidi Iota framework at the WeAreDevelopers World Congress. This…

 

Sri Lanka set for January biometric passport launch, plans airport upgrades

Sri Lanka is preparing to begin issuing biometric passports with electronic chips embedded as of January, 2025, according to a…

 

Vending machines with biometric age verification roll out in Germany, US

Vending machines are growing in popularity as a way to sell age-restricted products around the world, with Diebold Nixdorf algorithms…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events