• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

FindBiometrics

FindBiometrics

Global Identity Management

  • Biometrics
    • What are Biometrics?
    • FAQ
    • Biometric Associations
    • Companies
    • Premier Partners
  • News
    • Featured Articles
    • Interviews
    • Thought Leadership
    • Podcasts
    • Webinars
    • Year in Review
  • Applications
    • Biometric Security
    • Border Control and Airport Biometrics
    • Consumer and Residential Biometrics
    • Financial Biometrics
    • Fingerprint & Biometric Locks
    • Healthcare Biometrics
    • Justice and Law Enforcement Biometrics
    • Logical Access Control Biometrics
    • Mobile Biometrics
    • Other Biometric Applications
    • Physical Access Control Biometrics
    • Biometric Time and Attendance
  • Solutions
    • Behavioral Biometrics
    • Biometric Sensors and Detectors
    • Facial Recognition
    • Biometric Fingerprint Readers
    • Hand Readers & Finger Scanners
    • Iris Recognition
    • Biometric Middleware and Software
    • Multimodal Biometrics
    • Physiological Biometrics
    • Smart Cards
    • Vein Recognition
    • Voice and Speech Recognition
  • Stocks
  • Events
  • Companies
  • Podcasts

Mitek Brings in Record Revenue in 2021

November 9, 2021

Mitek is still enjoying the benefits of the increased demand for remote onboarding technology. The company’s revenues are up considerably in its latest quarterly report, which covers the three-month period that ended on September 30. The report also includes Mitek’s full year-end results, since the most recent quarter is the fourth quarter of the company’s fiscal year. 

Mitek Brings in Record Revenue in 2021

With that in mind, Mitek brought in $33.3 million in revenue in its fourth quarter, and a total of $119.8 million for the entire fiscal year. The Q4 figure is up nine percent year-over-year compared to the same period in 2020, while the year-end figure is up an even more impressive 18 percent.

Mitek’s net GAAP income was $2.2 million for the fourth quarter, and $8.4 million for the year. Those numbers climb to $10.1 million and $34.2 million, respectively, in a non-GAAP scenario. Meanwhile, its cash flow from its core operations is $12.3 million in Q4 and $37.4 million for the 2021 fiscal year. The company discussed its results in more detail during a webcast and conference call on November 4. Interested parties can find an archived version of the webcast in the Investor Relations section of the Mitek website.

“Fiscal 2021 was a breakout year for Mitek,” said CEO Max Carnecchia. “We again achieved record revenue, earnings and cash flow from operations, as we innovated faster and served more customers than ever before. Launching into fiscal 2022, we are strongly positioned to expand further into the identity authentication market and deliver the essential technologies required to help our customers fight identity fraud.”

The $33.3 million fourth quarter revenue figure is up slightly from the $31.8 million that the company generated in Q3. Some of its recent highlights include its acquisition of ID R&D, as well as the launch of its new Check Fraud Defender solution back in June. The rising demand for remote onboarding tech reflects the rise of the hybrid work environment in the wake of COVID-19.

–

November 9, 2021 – by Eric Weiss

Related News

  • FaceTec Delivers Massive Revenue and Usage Growth in Q4/2021 UpdateFaceTec Delivers Massive Revenue and Usage Growth in Q4/2021 Update
  • FPC Finds Encouraging Trends in 2021 ResultsFPC Finds Encouraging Trends in 2021 Results
  • Jumio Appoints Chief Technology OfficerJumio Appoints Chief Technology Officer
  • PortalGuard, Other Successes Set BIO-key On Path to Potential Break-Even Operations 2022PortalGuard, Other Successes Set BIO-key On Path to Potential Break-Even Operations 2022
  • Precise Biometrics Update Shows Downturn, With Opportunities AheadPrecise Biometrics Update Shows Downturn, With Opportunities Ahead
  • Ping Identity Sets Date for Q4/2021 ResultsPing Identity Sets Date for Q4/2021 Results

Filed Under: News Tagged With: Biometric, biometric onboarding, biometrics, corporate news, corporate updates, identity verification, Mitek, Q4 2021, Q4 updates, remote onboarding

Primary Sidebar

EXCLUSIVE MEMBERS ONLY CONTENT:

Become a FindBiometrics Member and gain easy access to specialty content, including the ID Tech column, replays of virtual events, and Identity School educational checklists:

ID TECH: What Role Will Biometrics Play in the Cyber Cold War? We’re About to Find Out [NEW]

Identity School: Facial Recognition Cheat Sheet

REPLAY: Travel & Hospitality Virtual Identity Summit

Sponsored Links

TECH5 showcase logo

TECH5 is an international technology company founded by experts from the biometrics industry, which focuses on developing disruptive biometric and digital ID solutions through the application of AI and Machine Learning technologies.

TECH5 target markets include both Government and Private sectors with products powering Civil ID, Digital ID, as well as authentication solutions that deliver identity assurance for various use cases. 

Learn more: www.tech5.ai

Onfido logo

Onfido is building the new identity standard for the internet.Our AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. That’s how we give companies like Revolut, Zipcar and Bitstamp the assurance they need to onboard customers remotely and securely. Our mission is to create a more open world, where identity is the key to access.. For more information, please visit www.onfido.com

ThreatMark brings trust to the digital world by providing cutting-edge fraud prevention solutions. Major banks use ThreatMark’s AI-powered technology and behavioral biometrics to build secured banking experience to precisely verify their legitimate users, seamlessly across all digital channels. All while securing the users’ most precious assets and keeping the fraudsters away. Learn more: www.threatmark.com/

With its secunet border gears product portfolio and specialised consulting expertise, secunet supports police forces and security authorities in their sovereign tasks. Whether ABC gates, self-service kiosks or biometric middleware – each component helps to strengthen identity protection and to accelerate verification – in mobile and stationary scenarios.

Mobile ID World Logo

Mobile ID World is here to bring you the latest in mobile authentication solutions and application providers. Our company is dedicated to providing users with the best content and cutting edge information on technology, news, and mobile solutions for your mobile identity management needs.

Recent Posts

  • Design Win Marks FPC Sensors’ Evolution to Optical Under-Display Biometrics
  • Juniper Research Opens Nominations for ‘Fintech & Payments’ Disruptors
  • Pakistan to Use Biometrics in Real Estate Transactions
  • GAO Takes Government Agencies to Task for Lack of Oversight in Facial Recognition
  • UK Commissioner Surveys Police Use of Facial Recognition

Biometric Associations

IBIA and fido

Tweets

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2022 FindBiometrics