The computer vision inside mobile check deposit, a consortium that catches check fraud, and identity checks built to beat deepfakes.
The strongest of 26 AI, SI and AR small caps we screened on method v2: GAAP profit, a 79% gross margin, net cash generation, a shrinking share count and a majority-independent board. Preliminary score 77. Everything below comes from Mitek’s own filings and releases, linked line by line; facts checked 30 October 2026.
No related party, no fees, no positions. Chosen from a screen of 26 companies on 30 Oct 2026. Full disclosure ledger
The image-capture and recognition engine behind mobile deposit at thousands of US banks and credit unions, handling about 1.2 billion transactions a year. Licensed through the banks' software providers; the largest channel partner was 12–22% of revenue in fiscal 2026.
10-K FY2025A consortium service that scores checks against pooled, anonymised data from member banks. A top-five US bank moved from a pilot to full membership in the June quarter.
FQ3 releaseDocument verification, biometric face matching and liveness detection that tells a live person from a photo, a replay or a deepfake. Mitek took the top three image-category places in an independent liveness competition in September 2026.
Release, 2 Sep 2026Two revenue lines: Check Verification Solutions (licences and transactions; called Deposits in older filings) and Fraud and Identity Solutions (SaaS). Fraud and Identity was $29.0m of the $54.0m June quarter; SaaS was about 48% of revenue; deferred revenue was $36.1m at 30 June 2026.
10-QScreened against 26 listed AI, SI and AR small caps on 30 October 2026; the shortlist was Mitek Systems (MITK), Himax Technologies (HIMX), Cerence AI (CRNC). Others fell on going-concern language, reverse splits, unremediated control weaknesses, heavy dilution, or no AI, SI or AR business. The weak pillar is attention, not the business: a thin news flow and search interest we have not yet measured. Official after the fiscal 2026 results. Nobody can pay for a score.
History inside the five-year window, listed for completeness: ineffective internal controls in fiscal 2022–2024 (stated as remediated at 30 September 2025) and late filings with Nasdaq notices in 2023 (resolved).
Date not yet announced; fiscal 2025 was reported on 11 December 2025. First guidance for fiscal 2027 comes with it.
FY2025 releaseThe SVP of check-verification sales leaves on 8 December 2026 (8-K, 9 Oct); a chief revenue officer joined in August.
8-K, 9 Oct 2026$50m authorised on 5 February 2026 after the convertible notes were repaid in cash; 1.96m shares retired in nine months.
FQ1 releaseFive material weaknesses carried from fiscal 2022–2024 are stated as remediated at 30 September 2025; the fiscal 2026 10-K is the first full year to confirm it.
10-K FY2025Featured coverage is research of general and regular circulation, published on our schedule and not timed to any trade. It is not a rating of any security, a price target, or a recommendation to buy, sell or hold anything. First Look Equities is not a broker-dealer or a registered investment adviser.
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