Mitek Systems Shares Rise After 4Q Results Beat Estimates

Dow Jones12-17

By Kailyn Rhone

Shares of Mitek Systems rose after the company reported fiscal fourth- quarter results that beat analyst expectations.

The company's stock rose 13% to $10.76 in after-hours trading. Shares were down 27% for the year through Monday's close.

The identity verification systems company posted a profit of $8.57 million, or 18 cents a share, up from a loss of $1.44 million, or 3 cents a share, in the same quarter a year ago.

Stripping out certain one-item items, adjusted earnings were 33 cents a share. That was above the 17 cents a share analysts polled by FactSet expected.

Sales grew 15% to $43.2 million, in line with the company's previous guidance but higher than the $41.3 million analysts expected.

For fiscal 2025, Mitek Systems expects revenue to be between $170 million and $180 million. Analysts polled by FactSet anticipate $179.5 million in sales.

Write to Kailyn Rhone at kailyn.rhone@wsj.com

(END) Dow Jones Newswires

December 16, 2024 18:41 ET (23:41 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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