On Wednesday, Mitek Systems, Inc. (NASDAQ: MITK) shares price traded between $7.00 and $10.75 during the last trading session at $9.15. The shares recorded a trading volume 233,768 share as compared to its average volume of 320.793 shares. The company has 33.99M shares outstanding and market value of 0.52. Over the one year trading period, the stock has a peak price of $7.00 and its down is recorded at $8.93. The short ratio in the stock is 3.42 percent and the short float is around of 1.12M.
(MITK) recently reported its financial results for the 2nd quarter of fiscal 2018 ended March 31, 2018.
Fiscal 2nd Quarter 2018 Financial Highlights
- Revenue rose 25 percent year over year to a record $14.3M.
- SaaS revenue rose 91 percent year over year to $3.3M.
- GAAP net loss of $(1.2)M, or $(0.03) per share.
- Non-GAAP net income of $2.1M, or $0.06 per diluted share.
- Total cash and investments of $45.3M at the end of the fiscal 2nd
Commenting on the results, James DeBello, Chairman and CEO of Mitek, stated:
- “The rapid erosion of trust in the digital world and the need to rebuild that trust is presenting greater prospects for Mitek than ever before. Mitek’s identity solutions squarely address this pain point and provide a solution for consumer facing companies looking to deploy ID solutions to rebuild trust in a digital world. We believe Mitek is well positioned to address the need for a digital trust solution in the multi-billion dollar consumer identity market.”
Fiscal 2018 Financial Guidance
- For the fiscal year ending September 30, 2018, the Company is raising its before provided guidance for full year total revenue of $57M to $59M to a new range of $59M to $60M, which would represent growth between 30 percent and 32 percent year over year. The Company continues to expect to generate a non-GAAP profit margin of about 19 percent to 20 percent for fiscal 2018.
A look on the firm performance, its monthly performance is 4.57 percent and a quarterly performance of 24.49 percent. The stock price is trading upbeat from its 200 days moving average with 5.98 percent and up from 50 days moving average with 4.91 percent.
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