Mitek Systems reports Q2 adjusted EPS 29c, consensus 21c

Reports Q2 revenue $45.3M, consensus $38.78M. “Our strong performance in the second quarter highlights the market-leading position of our solutions in the large and growing markets we address,” Mitek CEO Max Carnecchia said. “Our Identity revenue was up 35% year over year in the second quarter, reinforcing our position as a leader in the ever-changing identity and fraud landscape. Our Deposits business also delivered another strong quarter, with revenue up 35% year over year. Looking ahead, we expect revenue growth in the second half of the year to moderate as a result of timing of deals falling in the first half of the year, as well as the difficult macroeconomic environment; however with our strong first half performance we are reiterating our full year guidance which calls for 18% revenue growth year over year at the midpoint and non-GAAP operating margins in the range of 30% to 31%.”