Mitek Systems, Inc. · NASDAQ:MITK

Mitek Systems — Q3 2026 Earnings Presentation

34 slides from Mitek Systems's earnings presentation, Aug 6, 2026

Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-looking statements contained in this presentation involve risks and include but are not limited to, those discussed in the section titled “Risk uncertainties, as well as assumptions that, if they never materialize or prove Factors” in our Form 10-Q for the fiscal quarte
Slide 3: Verification, authentication, and fraud decisioning infrastructure for high-assurance institutions
We provide the verification, authentication, and fraud decisioning infrastructure that NASDAQ: MITK high-assurance institutions rely on to stop fraud across a broad digital lifecycle. Whether someone is opening an account, logging in, depositing a check, or approving a high-risk payment, our role is
Slide 4: Mitek Business Overview
Mitek Business Overview Fiscal Q3 2026
Slide 5: The problem: The shift to digital finance expands the attack surface
The problem: The shift to digital finance significantly expands the attack surface and vulnerability. M I T E K S Y S T E MS , I N C . Q 3 20 2 6 IN P ER SON WEB M O BI L E RE A L- T I ME F I NA NC E G L O BA L FI NA NC I A L T RA N S A CT I O NS ⁽ ¹ ⁾ Financial services are moving to digital channe
Slide 6: AI is exacerbating the fraud problem.
AI is exacerbating the fraud problem. Static, point-in-time controls cannot defend against adaptive AI-driven fraud. What fraud used to be: What fraud is today: AD APT IVE AT T ACK S | M ULT I-S T AG E AT T AC KS | CRO S S-CH ANNE L AT T ACK S Manual Fragmented Automated Scalable M I T E K S Y S T E
Slide 7: Serving a large and rapidly growing market.
Serving a large and rapidly growing market. Continuous fraud increases the number of risk decisions institutions must make. Artificial Intelligence More journeys per customer M I T E K S Y S T E MS , I N C . Q 3 20 2 6 Onboarding, authentication, transactions, account changes, and recovery More Incr
Slide 8: Identity and fraud are converging into one decision problem.
Identity and fraud are converging into one decision problem. Fraud now spans the full customer lifecycle, increasing the need for continuous identity and risk decisions. “Is this a person, and is this the right person doing the right action right now, Onboarding with a high level of confidence, M I
Slide 9: History and expertise in high-assurance markets.
History and expertise in high-assurance markets. Mitek is embedded in the market through critical digital infrastructure workflows: • Check verification • Onboarding and authentication M I T E K S Y S T E MS , I N C . Q 3 20 2 6 • Integrations with existing platforms 9
Slide 10: Valued relationships and data expertise give Mitek the right to win.
Valued relationships and data expertise give Mitek the right to win. Visibility into high-volume transactions inside financial institutions, feeding our proprietary network, and providing M I T E K S Y S T E MS , I N C . Q 3 20 2 6 cross-institution visibility NETW ORK BASED Operationally trusted wi
Slide 11: Mitek's business model supports platform expansion.
Mitek’s business model supports platform expansion. M I T E K S Y S T E MS , I N C . Q 3 20 2 6 CH ECK VER IFICAT ION FR AUD & IDE NTITY SO LUTIO N S Strategic Leverage Reinvestment Platform & Cash Engine Expansion Deeply embedded in financial Fraud intelligence institution infrastructure Reinvestme
Slide 12: Investment highlights.
Investment highlights. NASDAQ: MITK M I T E K S Y S T E MS , I N C . Q 3 20 2 6 Fraud is a rapidly Proprietary Experienced and growing, AI- network-based execution-focused accelerated market Heritage of trust in data asset team high-assurance Solid balance financial services sheet and cash flow 12
Slide 13: Financial Highlights
Financial Highlights Fiscal Q3 2026
Slide 14: Fiscal Q3 FY26 Financial Highlights and Key Metrics
Fiscal Q3 FY26 Financial Highlights and Key Metrics Q3 FY26 vs. Q3 FY25 Q3 FY26 vs. Q3 FY25 ended June 30. 2026 ended June 30. 2026 Key Metrics (LTM) Revenue Total Revenue $54M + 18% Total Revenue $198M + 11% Fraud & Identity Solutions Revenue $29M + 14% Check Verification Solutions Revenue $25M + 2
Slide 15: Total Revenue Up 18% Y/Y (2-Year CAGR: 10%)
Total Revenue Up 18%Y/Y (2-Year CAGR: 10%) Total Fraud & Identity Revenue Up 14% Y/Y (2-Year CAGR: 18%) Quarterly Revenue Trend ($ in millions) 0 1 1 11 11 M I T E K S Y S T E MS , I N C . Q 3 20 2 6 1 1 1 1 M M M M M M M M M 0M M M 1M M M M M 0M M M M 1M M 1 M 0M 0M 1 M F F F 1 F F F F 1 F F heck e
Slide 16: Fraud & Identity Solutions
Fraud & Identity Solutions • Software license revenue can be timing-driven. Total Revenue Up 14% Y/Y (2-Year CAGR: 18%) As a result, total F&I growth may periodically be above or below SaaS growth SaaS Revenue Up 37% Y/Y (2-Year CAGR: 29%) • SaaS Y/Y growth is a better indicator of recurring underly
Slide 17: Check Verification Solutions
Check Verification Solutions LTM Revenue LTM view normalizes quarterly variability from software license renewal cycles and revenue timing Quarterly Revenue Trend ($ in millions) M M M M 1M M I T E K S Y S T E MS , I N C . Q 3 20 2 6 1M 0M 1M M M M M M 1M 0M 0M 1 M 1 M F F F 1 F F F F 1 F F Quarterl
Slide 18: SaaS Revenue Growth Driving Higher-Quality Revenue Mix
SaaS Revenue Growth Driving Higher-Quality Revenue Mix Quarterly Revenue Trend ($ in millions) 1 M M I T E K S Y S T E MS , I N C . Q 3 20 2 6 1 1 1 1 1 M 1M 1M 1 M 1 M 1 M 1 M 1 M 1 0 F F F 1 F F F F 1 F F aa Revenue aa rowth M aa of otal 18
Slide 19: Increasing Mix Towards Fraud & Identity
Increasing Mix Towards Fraud & Identity LTM Quarterly Revenue Trend ($ in millions) M I T E K S Y S T E MS , I N C . Q 3 20 2 6 1 M 1 M 1 0M 1 M 1 M 1 0M 1 M 1 M 1 M 0 1 1 0 F F F 1 F F F F 1 F F heck eri cation Fraud Identit 19
Slide 20: Gross Margin Stability While Strategic Mix Shift to SaaS Continues
Gross Margin Stability While Strategic Mix Shift to SaaS Continues Quarterly Non-GAAP Gross Margin Trend⁽¹⁾ M I T E K S Y S T E MS , I N C . Q 3 20 2 6 100 100 100 100 100 100 ~100 bps mix-shift headwind 6 6 2 F F F 1 F F F F 1 F F Mix hift Impact oftware icense ardware ross Margin otal onstant Mix
Slide 21: Attractive Adjusted EBITDA Margins
Attractive Adjusted EBITDA Margins Quarterly Adjusted EBITDA and Adjusted EBITDA Margins ¹ ($ in millions) 1 M I T E K S Y S T E MS , I N C . Q 3 20 2 6 0 1 M 0M 1M 1 M 1 M 1 M 1 M 1 M M F F F 1 F F F F 1 F F djusted I djusted I Margin 21 (1) See appendix for reconciliations of GAAP to non-GAAP meas
Slide 22: Operating Expense Leverage Driving Higher Profitability
Operating Expense Leverage Driving Higher Profitability Quarterly Non-GAAP OpEx ¹ as a % of Total Quarterly Revenue 6 6 M I T E K S Y S T E MS , I N C . Q 3 20 2 6 6 2 1 1 1 1 1 1 1 1 1 1 1 1 0 1 1 1 0 1 1 1 1 1 1 1 F F F 1 F F F F 1 F F M R (1) See appendix for reconciliations of GAAP to non-GAAP m
Slide 23: 70% Free Cash Flow Conversion Demonstrates Strong Cash Generation
70% Free Cash Flow Conversion Demonstrates Strong Cash Generation LTM Free Cash Flow Conversion ¹ ($ in millions) 100 10 M I T E K S Y S T E MS , I N C . Q 3 20 2 6 0 M M 1M M M 1M M M M M M M M M 0M M 0M 1 M F F F 1 F F F F 1 F F M djusted I M Free ash Flow Free ash Flow onversion 23 (1) See append
Slide 24: Rule of 40 Performance Supported by Strong Profitability
Rule of 0 ¹ Performance Supported by Strong Profitability and Improving Growth LTM Quarterly Rule of 40 ($ in millions) M I T E K S Y S T E MS , I N C . Q 3 20 2 6 0 1 1 0 11 F F F 1 F F F F 1 F F M Revenue rowth M djusted I Margin Rule of 0 * Numbers may not foot due to rounding (1) “Rule of 40” is
Slide 25: Strong Cash Generation Driving Balance Sheet Strength and Shareholder Returns
Strong Cash Generation Driving Balance Sheet Strength and Shareholder Returns $49M $99M $21M $46M Free Cash Flow Debt⁽¹⁾ Reduction Share Repurchases Net Cash⁽²⁾ M I T E K S Y S T E MS , I N C . Q 3 20 2 6 (LTM) (LTM) (LTM) As of 3Q’26 Cash Bridge (LTM) M 1 M M 1M M 100M F ash Free ash Flow ebt hare
Slide 26: Financial Outlook FY 2026
Financial Outlook FY 2026 Fiscal Q3 2026
Slide 27: Financial Outlook for FY26
Financial Outlook ¹ for FY26 FY26 Q4 FY26 FY24 FY25 Guidance⁽¹⁾ Guidance⁽¹⁾ Total Revenue $172M $180M $195 - $200M $42 - $47M M I T E K S Y S T E MS , I N C . Q 3 20 2 6 Y/Y Growth (0%) 4% Approximately 10% Fraud & Identity Solutions Revenue $78M $90M $105 - $109M Y/Y Growth 5% 15% Approximately 19%
Slide 28: Appendix
Appendix fwutek
Slide 29: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains non- . . generall accepted accounting principles “ P” prices that are not ascertainable due to the volatilit of the ompan ’s share price. financial measures for adjusted EBITDA, adjusted EBITDA margin, non-GAAP cost of dditionall , a significant
Slide 30: Revenue Disaggregation by Major Product Portfolio
Revenue Disaggregation by Major Product Portfolio ($ in thousands) M I T E K S Y S T E MS , I N C . Q 3 20 2 6 30 See the Supplemental Financials Package in Excel format, on our Investor Relations website for additional trended data
Slide 31: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation ($ in thousands) Non-GAAP Gross Profit Reconciliation M I T E K S Y S T E MS , I N C . Q 3 20 2 6 31 See the Supplemental Financials Package in Excel format, on our Investor Relations website for additional trended data
Slide 32: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation ($ in thousands) GAAP Net Income to Adjusted EBITDA Reconciliation M I T E K S Y S T E MS , I N C . Q 3 20 2 6 Net cash provided by (used in) operating activities to Free Cash Flow Reconciliation 32 See the Supplemental Financials Package in Excel format, on
Slide 33: GAAP to Non-GAAP Financial Reconciliation
GAAP to Non-GAAP Financial Reconciliation ($ in thousands) GAAP Operating Expense to Non-GAAP Operating Expense Reconciliation M I T E K S Y S T E MS , I N C . Q 3 20 2 6 33 See the Supplemental Financials Package in Excel format, on our Investor Relations website for additional trended data

Mitek Systems — Q3 2026 Earnings Presentation on 6ix

Mitek Systems — Q3 2026 Earnings Presentation

Slide 1: Company & Financial Overview

Slide 2: Safe Harbor Statement

Slide 3: Verification, authentication, and fraud decisioning infrastructure for high-assurance institutions

Slide 4: Mitek Business Overview

Slide 5: The problem: The shift to digital finance expands the attack surface

Slide 6: AI is exacerbating the fraud problem.

Slide 7: Serving a large and rapidly growing market.

Slide 8: Identity and fraud are converging into one decision problem.

Slide 9: History and expertise in high-assurance markets.

Slide 10: Valued relationships and data expertise give Mitek the right to win.

Slide 11: Mitek's business model supports platform expansion.

Slide 12: Investment highlights.

Slide 13: Financial Highlights

Slide 14: Fiscal Q3 FY26 Financial Highlights and Key Metrics

Slide 15: Total Revenue Up 18% Y/Y (2-Year CAGR: 10%)

Slide 16: Fraud & Identity Solutions

Slide 17: Check Verification Solutions

Slide 18: SaaS Revenue Growth Driving Higher-Quality Revenue Mix

Slide 19: Increasing Mix Towards Fraud & Identity

Slide 20: Gross Margin Stability While Strategic Mix Shift to SaaS Continues

Slide 21: Attractive Adjusted EBITDA Margins

Slide 22: Operating Expense Leverage Driving Higher Profitability

Slide 23: 70% Free Cash Flow Conversion Demonstrates Strong Cash Generation

Slide 24: Rule of 40 Performance Supported by Strong Profitability

Slide 25: Strong Cash Generation Driving Balance Sheet Strength and Shareholder Returns

Slide 26: Financial Outlook FY 2026

Slide 27: Financial Outlook for FY26

Slide 28: Appendix

Slide 29: Non-GAAP Financial Measures

Slide 30: Revenue Disaggregation by Major Product Portfolio

Slide 31: GAAP to Non-GAAP Financial Reconciliation

Slide 32: GAAP to Non-GAAP Financial Reconciliation

Slide 33: GAAP to Non-GAAP Financial Reconciliation

Slide 34: Thank you.