Mitek Systems (MITK)
Combines biometric identity verification with mobile check-deposit technology for banks and fintechs.
Something off on this page? Send us feedback.
Sells software that verifies customer identities, detects fraud, and processes mobile check deposits for banks, credit unions, and fintechs. Identity and fraud tools now generate the larger share of revenue, while the check-deposit business remains a stable, long-running franchise embedded directly inside bank apps.
Two product families make up the business: an identity-verification and fraud-prevention platform combining document, biometric, and behavioral signals, and check-processing software that extracts and verifies data from check images captured on mobile, at ATMs, and in branches.
Customers are concentrated among banks, credit unions, and fintechs in the US and Canada, with a growing international footprint. Mobile Deposit sits embedded directly inside bank apps, handling an enormous volume of check images each year under long-running contracts with built-in price escalators.
The identity and fraud line has grown into the larger revenue contributor as banks defend against deepfake and synthetic-identity attacks, while the check-processing line holds steady. Anti-money-laundering rules across the US, UK, and EU underpin demand, and one customer accounts for a meaningful share of revenue.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 7, 2026 | Maxim Group | Target | Target: $13 | Target: $26 |
| Apr 15, 2026 | Northland Securities | Target | Target: — | Target: $17 |
| Feb 13, 2026 | Jefferies | Upgrade | Target: $9.50 | Target: $15 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $99.7M · Total debt $51.7M · Total assets $368.1M · Shareholders' equity $250.5M
- Revenue
- $54.0M
- Operating income
- $11.5M
- Net income
- $8.4M
No dividends on record.
| Institutions | ≈ 84.71% | 38.23M shares | |
|---|---|---|---|
| 199 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 6.00% | 2.71M shares | |
| 16 holders · as of Aug 19, 2026 | |||
| Other | ≈ 9.29% | 4.19M shares | |
| remainder | |||
45.12M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 7.84% | 3.54M | as of Jun 30, 2026 |
Legal & General Investment Management LimitedInstitution | 6.75% | 3.05M | filed Feb 13, 2024 |
Legal & General Group PLCInstitution | 5.95% | 2.69M | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 4.69% | 2.12M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 4.59% | 2.07M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 15, 2026 | Garrett Gafke | officer: Chief Operating Officer | −21,108 | $14.19 |
| Apr 28, 2026 | Garrett Gafke | officer: Chief Operating Officer | −152,529 | $13.92 |
| Mar 3, 2026 | Jason Gray | officer: GC, Secretary & Admin Officer | −73,174 | $14.74 |
- OneSpan
Closest rival across identity verification and passwordless authentication.
- Fiserv
Mobile-deposit capability bundled inside a much larger banking-tech suite.
- Jack Henry & Associates
Competing RDC vendor for the same community-bank and credit-union base.
- ACI Worldwide
Competes on real-time payments-fraud analytics for banks and billers.
- NCR Atleos
Overlaps narrowly in check-image capture across ATM and branch channels.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mitek Systems | $16.73 | −2.39% | $774.0M | 36.6 | 15.1 | 3.9 | +18.2% |
| OneSpan | $17.06 | −3.10% | $652.5M | 9.9 | 14.2 | 2.6 | +1.0% |
| Fiserv | $46.50 | +0.06% | $24.78B | 8.9 | 6.3 | 1.2 | −10.0% |
| Jack Henry & Associates | $150.01 | −1.03% | $10.77B | 21.7 | 20.3 | 4.3 | +4.7% |
| ACI Worldwide | $49.01 | −1.17% | $5.04B | 22.7 | 18.7 | 2.8 | +7.3% |
| NCR Atleos | $46.35 | +0.59% | $3.40B | 18.0 | 9.7 | 0.8 | −0.1% |
| Median | 18.0 | 14.2 | 2.6 | +1.0% |