Bottom line gains for Mitek, OneSpan, Clear suggest digital identity momentum back

2025 is shaping up as a big year for Mitek, with its shift towards a greater focus on SaaS digital identity and fraud prevention software, supported by the biometrics and liveness capabilities it acquired with ID R&D, driving a boost in profitability.

The company reports a 23 percent gain in SaaS revenues, year-over-year, and 2 percent overall growth to $45.7 million in the third quarter of fiscal 2025. GAAP net income was $2.4 million, compared to $0.2 million a year earlier.

The company celebrated its best quarter ever for revenue and profit in Q2, and called out SaaS growth in raising its 2025 revenue guidance back in February. Two years ago, the company was struggling to catch up on reporting its results and fighting delisting from the Nasdaq. Now, Mitek has tightened that  guidance to an expected range of $174 million to $177 million, which the company will beat if it can surpass $42 million in the fourth quarter. The company also expects to hit the high end of its prior EBITDA guidance.

“We’re executing on what we said we would do: shifting to SaaS, streamlining our operations internally, and aligning our product investments and go-to-market strategy around a unified, integrated platform,” says Mitek CEO Ed West. “While there’s still more to do, we’re making steady progress and laying the groundwork for durable, profitable growth.”

OneSpan net, outlook rises with Nok Nok’s FIDO authentication in portfolio

Revenues declined by 2 percent for enterprise authentication and digital identity provider OneSpan in its second quarter of the year, to $59.8 million, but net income rose from $6.6 million in the same quarter of 2024 to $8.3 million.

The results also show higher annual recurring revenue (ARR), operating income, adjusted EBITDA and cash on hand.

OneSpan’s recent acquisition of Nok Nok Labs gives it a stronger portfolio with FIDO2 passwordless authentication software, according to the announcement. The addition of Nok Nok also allows OneSpan to expand its multi-factor authentication portfolio.

“This is the kind of targeted, technology-driven acquisition with proven product market fit that we believe can add value,” comments OneSpan CEO Victor Limongelli. And further acquisitions could be ahead. “Looking ahead, we will continue to focus on improving our performance, while also evaluating targeted inorganic opportunities to best position the company to drive profitable, efficient revenue growth.”

Clear secures gains ahead of further approvals

Clear’s results for the second quarter of 2025 put recent questioning of its fundamentals into perspective, with a 17.5 percent jump in revenue to $219.5 million and a 17.3 percent boost in net income to $37.9 million.

Active memberships in CLEAR+ are up 7.5 percent, y-o-y, and its touchpoints for identity verification and biometric enrollments continue to grow.

Several more positive developments for the company are on the horizon, too, with approval expected for international travellers from the UK, Canada, Australia and New Zealand to be able to use the CLEAR+ service in the U.S. CLEAR ID is also expected to launch as an approved REAL ID credential this month, according to an earnings announcement.

Article Topics

biometrics  |  CLEAR  |  digital identity  |  financial results  |  Mitek  |  OneSpan  |  stocks