10-Q Filing

MITEK SYSTEMS INC CIK: 807863 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-052048`
Period End Date	20111231
Filing Date	20120210
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	mitk-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 40 Cash Flow Statement 53

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.66M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$10.19M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$10.83M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.96M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.07M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$317.38K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$295.72K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.12M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.90M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$417.23K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.14M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.54M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$309.50K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.54M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$196.52K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.14M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$120.90K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$88.70K	USD	Point-in-time
Total assets	`Assets`	$21.30M	USD	Point-in-time
Total assets	`Assets`	$19.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$358.91K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$542.22K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$644.88K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$496.01K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$873.23K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.23M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$45.19K	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$35.99K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.77M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$23.06K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$94.80K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.55M	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 40,000,000 shares authorized, 24,542,255 and 24,144,366 issued and outstanding, respectively	`CommonStockValue`	$24.54K	USD	Point-in-time
Common stock, $0.001 par value, 40,000,000 shares authorized, 24,542,255 and 24,144,366 issued and outstanding, respectively	`CommonStockValue`	$24.14K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$33.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.92K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.86K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.06M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$18.75M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.85M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$21.30M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Software	`SoftwareRevenue`	$940.69K	USD	1 Quarter
Software	`SoftwareRevenue`	$2.89M	USD	1 Quarter
Maintenance and professional services	`MaintenanceAndProfessionalServicesRevenue`	$627.46K	USD	1 Quarter
Maintenance and professional services	`MaintenanceAndProfessionalServicesRevenue`	$462.87K	USD	1 Quarter
Total revenue	`Revenues`	$3.52M	USD	1 Quarter
Total revenue	`Revenues`	$1.40M	USD	1 Quarter
Cost of revenue-software	`SoftwareCosts`	$92.39K	USD	1 Quarter
Cost of revenue-software	`SoftwareCosts`	$147.66K	USD	1 Quarter
Cost of revenue-maintenance and professional services	`MaintenanceAndProfessionalServicesCosts`	$115.31K	USD	1 Quarter
Cost of revenue-maintenance and professional services	`MaintenanceAndProfessionalServicesCosts`	$154.61K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$399.31K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$850.93K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.18M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$589.34K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$623.24K	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$3.50M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$1.82M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$23.95K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-416.03K	USD	1 Quarter
Interest and other expense, net	`OtherNonoperatingExpense`	$67.06K	USD	1 Quarter
Interest and other expense, net	`OtherNonoperatingExpense`	$384.25K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$74.02K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$1.24K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$-383.00K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$6.96K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$30.91K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-799.03K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.69K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.64K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$26.27K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-800.73K	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Shares used in calculating basic net income (loss) per share	`WeightedAverageNumberOfSharesOutstandingBasic`	24.39M	shares	1 Quarter
Shares used in calculating basic net income (loss) per share	`WeightedAverageNumberOfSharesOutstandingBasic`	18.85M	shares	1 Quarter
Shares used in calculating diluted net income (loss) per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.85M	shares	1 Quarter
Shares used in calculating diluted net income (loss) per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.82M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$26.27K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-800.73K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$234.04K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$501.70K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$60.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$40.31K	USD	1 Quarter
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$4.21K	USD	1 Quarter
Non-cash interest expense on convertible debt	`PaidInKindInterest`	$384.12K	USD	1 Quarter
Amortization of capitalized debt issuance costs	`AmortizationOfFinancingCosts`	$53.95K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$410.98K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$113.36K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.07K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-19.58K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$32.77K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$183.31K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$134.31K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$148.87K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$347.97K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$359.46K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-17.10K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-29.41K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$732.00	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.16M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$219.27K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.45K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.30K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.45K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-262.57K	USD	1 Quarter
Proceeds from the issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$750.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$89.15K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$161.13K	USD	1 Quarter
Principal payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$3.44K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$839.15K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$157.69K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$836.44K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.06M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.31M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.66M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$3.12K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$75.00	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$1.69K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$800.00	USD	1 Quarter
Capital lease obligations	`CapitalLeaseObligationsIncurred`	$95.39K	USD	1 Quarter
Unrealized holding gain on available for sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-4.93K	USD	1 Quarter
Cashless exercise of options and warrants	`CashlessExerciseOfOptionsAndWarrants`	$263.00	USD	1 Quarter
Cashless exercise of options and warrants	`CashlessExerciseOfOptionsAndWarrants`	$82.00	USD	1 Quarter
Conversion of debt to common stock	`ConversionOfDebtToCommonStock`	$1.06M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.