Mitek Systems

Nasdaq Hearings Panel Grants Mitek’s Request for Continued Listing Pending Compliance with Filing Requirement

Retrieved on: 
Wednesday, April 3, 2024
Online Privacy, Technology, Payments, Security, Fintech, Banking, Electronic Commerce, Professional Services, Software, Panel, Form, Staff, Security (finance), System, Annual report, Hearing, Mitek Systems

The Company subsequently did not timely file the Q1 Form 10-Q because the Q1 Form 10-Q could not be prepared until the Form 10-K was filed.

Key Points: 
  • The Company subsequently did not timely file the Q1 Form 10-Q because the Q1 Form 10-Q could not be prepared until the Form 10-K was filed.
  • The Company attended the previously announced and scheduled March 19, 2024 hearing before the Panel and requested the continued listing of its securities on the Nasdaq Capital Market pending its return to compliance with the Listing Rule.
  • The Company filed its Form 10-K on March 19, 2024, and intends to file the Q1 Form 10-Q as promptly as possible in order to regain compliance with the Listing Rule.
  • Notwithstanding the foregoing, there can be no assurance that the Company will be able to meet this deadline or ultimately regain compliance with all applicable requirements for continued listing.

Mitek Reports Record Revenue and Earnings for Fiscal 2023

Retrieved on: 
Tuesday, March 19, 2024
Data Management, Banking, Technology, Professional Services, Security, Software, Artificial Intelligence, Networks, Internet, Fintech, Finance, MTX Audio, Growth, Trust, International, AI, System, Investment, GAAP, ID, Identity, Machine learning, Mitek Systems

"In fiscal 2023, we delivered record revenue and profitability, driven by our commitment to innovation.

Key Points: 
  • "In fiscal 2023, we delivered record revenue and profitability, driven by our commitment to innovation.
  • In fiscal 2023, Mitek signed a large multi-year mobile deposit reorder with one customer that locked in favorable pricing over a four-year period.
  • Due to the unique terms of this contract, Mitek recognized additional license revenue relating to future years of approximately $7.0 million in fiscal 2023.
  • If the Company backs out the future year revenue from our fiscal 2023 revenue and attributes the portion of the $7.0 million that would have been recognized in fiscal 2024 to the midpoint of its fiscal 2024 revenue guidance, the fiscal 2024 revenue guidance would represent growth of approximately 12.0% at the midpoint.

Identity Verification Market worth $21.8 billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Tuesday, March 12, 2024
Knowledge, Organization, Friction, AU10TIX, Algorithm, Growth, Eid, Health, Digital, AML, Partnership, Data analysis, Risk, LexisNexis Risk Solutions, KYC, Travel, KYC/AML, GBG, LexisNexis, TransUnion, Safety, Identity theft, Fraud, Traction, Machine learning, Airport, MEA, Mitek Systems, IDEMIA, Government, KBA, Facial recognition, Cryptocurrency

Identity verification involves various processes, such as document verification, biometric authentication, and identity proofing.

Key Points: 
  • Identity verification involves various processes, such as document verification, biometric authentication, and identity proofing.
  • To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Identity Verification Market.
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Identity Verification Market.
  • To profile the key players of the Identity Verification Market and comprehensively analyze their market size and core competencies.

Identity Verification Market worth $21.8 billion by 2028 - Exclusive Report by MarketsandMarkets™

Retrieved on: 
Tuesday, March 12, 2024
Knowledge, Organization, Friction, AU10TIX, Algorithm, Growth, Eid, Health, Digital, AML, Partnership, Data analysis, Risk, LexisNexis Risk Solutions, KYC, Travel, KYC/AML, GBG, LexisNexis, TransUnion, Safety, Identity theft, Fraud, Traction, Machine learning, Airport, MEA, Mitek Systems, IDEMIA, Government, KBA, Facial recognition, Cryptocurrency

Identity verification involves various processes, such as document verification, biometric authentication, and identity proofing.

Key Points: 
  • Identity verification involves various processes, such as document verification, biometric authentication, and identity proofing.
  • To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Identity Verification Market.
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Identity Verification Market.
  • To profile the key players of the Identity Verification Market and comprehensively analyze their market size and core competencies.

Mitek Supercharges Financial Institutions’ Ability to Detect Check Fraud With MiControl

Retrieved on: 
Thursday, February 15, 2024
Banking, Software, Mobile, Wireless, Professional Services, Fintech, Data Management, Apps, Applications, Law Enforcement, Emergency Services, Technology, Security, Data Analytics, Finance, Public Policy, Government, System, Fraud, Financial Crimes Enforcement Network, Mitek Systems, Cryptocurrency

Mitek Systems , Inc. (NASDAQ: MITK) today introduced MiControl, a comprehensive fraud management console that works with Mitek’s Check Fraud Defender.

Key Points: 
  • Mitek Systems , Inc. (NASDAQ: MITK) today introduced MiControl, a comprehensive fraud management console that works with Mitek’s Check Fraud Defender.
  • MiControl quickly detects check fraud, reduces losses and further increases consumers’ online security.
  • Between January and October of 2023, 447,525 suspicious activity reports (SAR) indicated another record setting year for check fraud.
  • “MiControl combines check and fraud data intelligence to achieve operational efficiency,” said Kerry Cantley, Mitek VP of Digital Banking Strategy.

Mitek Announces Receipt of Notice from Nasdaq

Retrieved on: 
Wednesday, February 14, 2024
Software, Banking, Mobile, Wireless, Professional Services, Fintech, Payments, Electronic Commerce, Apps, Applications, Technology, Artificial Intelligence, Security, Finance, Hearing, Form 10-K, Rule, Form, System, Panel, Security (finance), Mitek Systems

The Company remains delinquent in filing its Form 10-K for the year ended September 30, 2023 (the “Form 10-K”).

Key Points: 
  • The Company remains delinquent in filing its Form 10-K for the year ended September 30, 2023 (the “Form 10-K”).
  • The Rule requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission (the “SEC”).
  • The hearing is scheduled for March 19, 2024 and the request for the automatic stay of suspension was granted.
  • In response to the Staff Determination, the Company intends to file the Form 10-K and Form 10-Q as promptly as possible in order to regain compliance with the Rule.

Mitek Named to Digital ID & Authentication Council of Canada

Retrieved on: 
Tuesday, January 23, 2024
Banking, Software, Networks, Professional Services, Hardware, Payments, Technology, White House, Federal Government, Artificial Intelligence, Security, Audio, Video, Finance, Public Policy, Government, Privacy, Trust, MTX Audio, Mitek Systems, Digital, Fraud, System

Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, has been appointed to the Digital ID & Authentication Council of Canada (DIACC).

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity and fraud prevention, has been appointed to the Digital ID & Authentication Council of Canada (DIACC).
  • DIACC is the world’s only digital trust, credentials and identity verification association with a mission to unlock the full potential of the global digital economy by placing privacy and people-centered benefits at the center of the digital identity movement.
  • As a member of DIACC, Mitek will join the Trust Framework and Adoption committees and other impactful forthcoming initiatives related to digital trust capabilities.
  • “DIACC’s mission and principles mirror Mitek’s commitment to the development of a robust, secure, scalable, inclusive and privacy-enhancing digital ecosystem,” Mitek SVP Chris Briggs said.

Mitek Announces Extension of Nasdaq Stay and Hearing Date

Retrieved on: 
Wednesday, January 17, 2024
Banking, Technology, Professional Services, Payments, Security, Software, Artificial Intelligence, Networks, Audio, Video, Fintech, Hardware, Annual report, Mitek Systems, Form, Form 10-K, Hearing, System, Security (finance), Panel

Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com , "Mitek” or the “Company”), a global leader in digital identity and fraud prevention, today announced that on January 17, 2024, the Company was notified by the Nasdaq Hearings Panel (the “Panel”) that the Panel has granted the Company’s request to extend the automatic stay of suspension of the Company's common stock from The Nasdaq Stock Market LLC (“Nasdaq”) pending the Company’s hearing before the Panel scheduled for March 19, 2024, and a final determination regarding the Company’s listing status.

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK, www.miteksystems.com , "Mitek” or the “Company”), a global leader in digital identity and fraud prevention, today announced that on January 17, 2024, the Company was notified by the Nasdaq Hearings Panel (the “Panel”) that the Panel has granted the Company’s request to extend the automatic stay of suspension of the Company's common stock from The Nasdaq Stock Market LLC (“Nasdaq”) pending the Company’s hearing before the Panel scheduled for March 19, 2024, and a final determination regarding the Company’s listing status.
  • As previously reported, the Company is subject to a Mandatory Panel Monitor for a period of one year, or until November 6, 2024, which requires the Nasdaq Listing Qualifications Department to promptly issue a delisting determination in the event that the Company fails to maintain compliance with Nasdaq Listing Rule 5250(c).
  • As previously disclosed on December 18, 2023, the Company intended to appeal a determination by the Nasdaq Listing Qualifications Department to delist the Company’s securities due to the Company’s failure to timely file its Annual Report on Form 10-K for the period ended September 30, 2023 (the "Form 10-K") with the Securities and Exchange Commission.
  • On December 26, 2023 the Company timely requested a hearing before the Panel and requested that the automatic stay of suspension be extended through the completion of the hearings process and the expiration of any additional extension period granted by the Panel following the hearing.

Mitek Named Winner at FinTech Finance 2023 FF Awards Ceremony

Retrieved on: 
Thursday, December 21, 2023
Professional Services, Online Privacy, Security, Technology, Software, Finance, Fintech, Mitek Systems, System, MTX Audio, ID, Account verification, Cryptocurrency

Mitek Systems, Inc. (NASDAQ: MITK) was named winner in the Identity Verification and Know Your Customer category at FinTech Finance’s 2023 FF Awards ceremony Nov. 28 in London.

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK) was named winner in the Identity Verification and Know Your Customer category at FinTech Finance’s 2023 FF Awards ceremony Nov. 28 in London.
  • FinTech Finance covers the global financial services sector.
  • The FF Awards honor innovation in products, services and solutions that address challenging issues and drive meaningful change in the financial services sector.
  • The FinTech Finance award recognizes Mitek's tenure, financial strength and strong reputation in the financial services industry and ground-breaking AI-driven fraud and identity innovations,” said Mitek CEO Max Carnecchia.

Mitek Appoints David Lyle as Chief Financial Officer

Retrieved on: 
Tuesday, December 19, 2023
Professional Services, Security, Technology, Finance, Software, Fintech, Accounting, Entropic Communications, Sale, CFO, Information technology, Maxwell Technologies, Identity, Mitek Systems, Digital banking, Liminal, Growth, System

Mitek Systems, Inc. (NASDAQ: MITK, Mitek or the Company), a global leader in digital identity and fraud prevention is pleased to announce the appointment of David Lyle as Chief Financial Officer (CFO).

Key Points: 
  • Mitek Systems, Inc. (NASDAQ: MITK, Mitek or the Company), a global leader in digital identity and fraud prevention is pleased to announce the appointment of David Lyle as Chief Financial Officer (CFO).
  • “I am thrilled to welcome David to Mitek,” said Mitek CEO Max Carnecchia.
  • David joins us during a pivotal scaling period for our Digital Banking and Identity businesses, bringing valuable expertise to the team.
  • I would also like to thank and acknowledge Fuad for his interim leadership and many contributions to the company this past year.”
    "I am excited to join the Mitek team and its purpose-driven culture,” David Lyle said.