Mitek Reiterates Guidance For Fiscal 2024
Portfolio Pulse from Benzinga Newsdesk
Mitek Systems, Inc. (MITK) has reiterated its fiscal 2024 guidance, expecting full-year revenue between $180.0 million and $185.0 million, indicating a 6% growth rate at the midpoint. This forecast includes adjustments for a large multi-year mobile deposit reorder contract signed in fiscal 2023, which contributed an additional $7.0 million in license revenue. Adjusting for this, the growth rate for fiscal 2024 would be approximately 12% at the revised midpoint. Mitek also anticipates a non-GAAP operating margin of 30.0% to 31.0% for the fiscal year.
April 15, 2024 | 8:08 pm
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Mitek Systems, Inc. reiterates its fiscal 2024 revenue guidance, projecting a 6% growth rate, which adjusts to 12% considering specific contract terms from fiscal 2023. The company also expects a non-GAAP operating margin between 30.0% and 31.0%.
Reiterating fiscal guidance, especially with an adjusted growth rate that accounts for specific contract terms, sends a positive signal to the market about Mitek's financial health and operational stability. The detailed revenue projections and expected operating margins provide a clear outlook, likely fostering investor confidence in the company's growth trajectory and operational efficiency.
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