- With an FQ3 beat in tow, Mitek (NASDAQ:MITK) is hiking its FY15 (ends in September) sales guidance by $1M to $23.5M-$24.5M, above a $23.1M consensus.
- Mitek's mainstay Mobile Deposit solution is now licensed by over 4K financial institutions, up from 3,705 at the end of FQ2. Software revenue +47% Y/Y to $4.68M; services +19% to $1.76M.
- Sales/marketing spend fell 9% Y/Y to $1.65M; R&D fell 15% to $1.35M, and G&A 22% to $1.8M. Mitek ended FQ3 with $24M in cash/short-term investments, and no debt. The deferred revenue balance stood at $4M.
- Shares have risen to $4.14 AH.
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FQ3 results, PR