Mitek Systems Sees FY23 Revenue $180M-$185M Vs $182.03M Est; Non-GAAP Operating Margin For Fiscal 2024 To Be Between 30%-31%.
Portfolio Pulse from Benzinga Newsdesk
Mitek Systems projects FY23 revenue to be between $180M-$185M, aligning with a $182.03M estimate. For FY24, it anticipates a non-GAAP operating margin of 30%-31%. The company highlights a significant multi-year mobile deposit reorder that contributed to an adjusted fiscal 2024 revenue growth forecast of approximately 12%.
March 19, 2024 | 8:20 pm
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Mitek Systems anticipates FY23 revenue in the range of $180M-$185M and a non-GAAP operating margin of 30%-31% for FY24, with an adjusted revenue growth forecast of approximately 12% for FY24.
The positive revenue forecast and the significant non-GAAP operating margin projection for FY24 indicate a strong financial outlook for Mitek Systems. The unique multi-year contract that boosts the adjusted revenue growth for FY24 further strengthens the company's position, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100