10-Q Filing

MITEK SYSTEMS INC CIK: 807863 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-041193`
Period End Date	20121231
Filing Date	20130206
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	mitk-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 39 Cash Flow Statement 53

Balance Sheet 64 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.71M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$4.66M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.82M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.10M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.62M	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
Other current assets	`OtherAssetsCurrent`	$485.17K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$431.24K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$14.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.04M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$2.09M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.00M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$828.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$491.08K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$757.58K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$42.05K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$42.05K	USD	Point-in-time
Total assets	`Assets`	$16.72M	USD	Point-in-time
Total assets	`Assets`	$17.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.16M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$711.95K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$871.56K	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$726.97K	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.63M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.44M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$55.41K	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$31.66K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.52M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$521.58K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$63.59K	USD	Point-in-time
Total liabilities	`Liabilities`	$3.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.04M	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, 26,041,283 and 25,995,216 issued and outstanding, respectively	`CommonStockValue`	$26.00K	USD	Point-in-time
Common stock, $0.001 par value, 40,000,000 shares authorized, 26,041,283 and 25,995,216 issued and outstanding, respectively	`CommonStockValue`	$26.04K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$37.68M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.76K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-616.00	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$12.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$13.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$16.72M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$17.94M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Software	`LicensesRevenue`	$2.89M	USD	1 Quarter
Software	`LicensesRevenue`	$2.57M	USD	1 Quarter
Maintenance and professional services	`SalesRevenueServicesGross`	$627.46K	USD	1 Quarter
Maintenance and professional services	`SalesRevenueServicesGross`	$738.96K	USD	1 Quarter
Total revenue	`Revenues`	$3.52M	USD	1 Quarter
Total revenue	`Revenues`	$3.31M	USD	1 Quarter
Cost of revenue-software	`LicenseCosts`	$147.66K	USD	1 Quarter
Cost of revenue-software	`LicenseCosts`	$192.61K	USD	1 Quarter
Cost of revenue-maintenance and professional services	`OtherCostOfServices`	$154.61K	USD	1 Quarter
Cost of revenue-maintenance and professional services	`OtherCostOfServices`	$147.39K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$1.26M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$850.93K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.18M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$4.68M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$3.50M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$23.95K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-1.37M	USD	1 Quarter
Interest and other expense, net	`OtherNonoperatingExpense`	$67.06K	USD	1 Quarter
Interest and other expense, net	`OtherNonoperatingExpense`	$43.69K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$74.02K	USD	1 Quarter
Interest income	`OtherNonoperatingIncome`	$50.12K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$6.96K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$6.42K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.36M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$30.91K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.64K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$26.27K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.36M	USD	1 Quarter
Net (loss) income per share - basic	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Net (loss) income per share - basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Net (loss) income per share - diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Net (loss) income per share - diluted	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Shares used in calculating basic net (loss) income per share	`WeightedAverageNumberOfSharesOutstandingBasic`	24.39M	shares	1 Quarter
Shares used in calculating basic net (loss) income per share	`WeightedAverageNumberOfSharesOutstandingBasic`	26.02M	shares	1 Quarter
Shares used in calculating diluted net (loss) income per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	27.82M	shares	1 Quarter
Shares used in calculating diluted net (loss) income per share	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.02M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$26.27K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.36M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$656.53K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$501.70K	USD	1 Quarter
Accretion and amortization on debt securities	`AmortizationOfFinancingCostsAndDiscounts`	$97.75K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$48.62K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$60.00K	USD	1 Quarter
Provision (recovery) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$4.21K	USD	1 Quarter
Provision (recovery) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-2.77K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$113.36K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$524.14K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-19.58K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.16K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$443.95K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$183.31K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$148.87K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$144.59K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$359.46K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$807.50K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$485.80K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-29.41K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.16M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$796.03K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$219.27K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$308.96K	USD	1 Quarter
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.69M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$315.12K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.30K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$2.06M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-262.57K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$37.24K	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
Principal payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$4.06K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$157.69K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$33.18K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.89M	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`	$5.66M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Cash and cash equivalents at beginning 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 and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.59M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.71M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$2.19K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$3.12K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$800.00	USD	1 Quarter
Unrealized holding gain on available for sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.38K	USD	1 Quarter
Unrealized holding gain on available for sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$4.93K	USD	1 Quarter
Capital lease obligations incurred	`CapitalLeaseObligationsIncurred`	$95.39K	USD	1 Quarter
Cashless exercise of option and warrants	`CashlessExerciseOfOptionsAndWarrants`	$82.00	USD	1 Quarter

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