10-Q Filing

MITEK SYSTEMS INC CIK: 807863 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-037050`
Period End Date	20141231
Filing Date	20150206
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	mitk-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 44 Cash Flow Statement 58

Balance Sheet 65 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`	$10.18M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.78M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$14.16M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$16.27M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.96M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.52M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$704.41K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$543.82K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$27.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.52M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.65M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$31.01M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.52M	shares	Point-in-time
Long-term investments	`LongTermInvestments`	$2.07M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	30.65M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.29M	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`	$31.10M	USD	Point-in-time
Total assets	`Assets`	$32.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.44M	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.43M	USD	Point-in-time
Accrued payroll and related taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.06M	USD	Point-in-time
Deferred revenue, current portion	`DeferredRevenueCurrent`	$2.83M	USD	Point-in-time
Deferred revenue, current portion	`DeferredRevenueCurrent`	$3.83M	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$153.04K	USD	Point-in-time
Other current liabilities	`OtherAccruedLiabilitiesCurrent`	$157.65K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.48M	USD	Point-in-time
Deferred revenue, non-current portion	`DeferredRevenueNoncurrent`	$311.23K	USD	Point-in-time
Deferred revenue, non-current portion	`DeferredRevenueNoncurrent`	$261.25K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$638.10K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$599.03K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$7.16M	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, 60,000,000 shares authorized, 30,654,705 and 30,521,080 issued and outstanding, respectively	`CommonStockValue`	$30.52K	USD	Point-in-time
Common stock, $0.001 par value, 60,000,000 shares authorized, 30,654,705 and 30,521,080 issued and outstanding, respectively	`CommonStockValue`	$30.66K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$59.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$60.77M	USD	Point-in-time
Accumulated other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.00K	USD	Point-in-time
Accumulated other comprehensive gain (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.81K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.03M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$24.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.94M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.25M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$31.10M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Software	`LicensesRevenue`	$3.17M	USD	1 Quarter
Software	`LicensesRevenue`	$3.75M	USD	1 Quarter
Maintenance and professional services	`SalesRevenueServicesGross`	$1.64M	USD	1 Quarter
Maintenance and professional services	`SalesRevenueServicesGross`	$1.29M	USD	1 Quarter
Total revenue	`Revenues`	$5.39M	USD	1 Quarter
Total revenue	`Revenues`	$4.46M	USD	1 Quarter
Cost of revenue-software	`LicenseCosts`	$213.91K	USD	1 Quarter
Cost of revenue-software	`LicenseCosts`	$321.10K	USD	1 Quarter
Cost of revenue-maintenance and professional services	`CostOfServicesMaintenanceCosts`	$283.49K	USD	1 Quarter
Cost of revenue-maintenance and professional services	`CostOfServicesMaintenanceCosts`	$249.60K	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$1.85M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$1.44M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.53M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.00M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$5.94M	USD	1 Quarter
Total operating costs and expenses	`CostsAndExpenses`	$5.26M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.48M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$133.87K	USD	1 Quarter
Interest and other expense	`OtherNonoperatingExpense`	$1.05K	USD	1 Quarter
Interest and other expense	`OtherNonoperatingExpense`	$1.70K	USD	1 Quarter
Interest and other income	`OtherNonoperatingIncome`	$15.21K	USD	1 Quarter
Interest and other income	`OtherNonoperatingIncome`	$16.25K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$13.51K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$15.20K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.47M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$149.08K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.90K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$961.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$146.18K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.47M	USD	1 Quarter
Net income (loss) per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Net income (loss) per share - basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Shares used in calculating net income (loss) per share - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.40M	shares	1 Quarter
Shares used in calculating net income (loss) per share - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.62M	shares	1 Quarter
Shares used in calculating net income (loss) per share - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.17M	shares	1 Quarter
Shares used in calculating net income (loss) per share - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.40M	shares	1 Quarter
Net income (loss)	`NetIncomeLoss`	$146.18K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.47M	USD	1 Quarter
Unrealized gain (loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-841.00	USD	1 Quarter
Unrealized gain (loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-2.19K	USD	1 Quarter
Other comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$143.99K	USD	1 Quarter
Other comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-1.47M	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$146.18K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.47M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$814.06K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$829.07K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$116.17K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$107.70K	USD	1 Quarter
Accretion and amortization on debt securities	`AmortizationOfFinancingCostsAndDiscounts`	$98.31K	USD	1 Quarter
Accretion and amortization on debt securities	`AmortizationOfFinancingCostsAndDiscounts`	$94.72K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$1.00K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$10.10K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$572.52K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$1.36M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-92.64K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-136.76K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-335.67K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-355.96K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-374.75K	USD	1 Quarter
Accrued payroll and related taxes	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-93.09K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$641.03K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$950.71K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-57.73K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-38.62K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.54M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$921.97K	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$2.83M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireInvestments`	$14.07M	USD	1 Quarter
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$6.93M	USD	1 Quarter
Sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$2.48M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.22K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.39K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$4.09M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.61M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$39.42K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.75K	USD	1 Quarter
Principal payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$4.53K	USD	1 Quarter
Principal payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$5.06K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$34.89K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.69K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.12M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.02M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.77M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.78M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.19K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$1.72K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$2.90K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$961.00	USD	1 Quarter
Unrealized holding loss on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-841.00	USD	1 Quarter
Unrealized holding loss on available-for-sale investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-2.19K	USD	1 Quarter
Cashless settlement of restricted stock units	`CashlessSettlementOfRestrictedStockUnits`	$129.00	USD	1 Quarter
Cashless settlement of restricted stock units	`CashlessSettlementOfRestrictedStockUnits`	$5.00	USD	1 Quarter
Cashless exercise of stock options	`CashlessExerciseOfOptionsAndWarrants`	$3.00	USD	1 Quarter
Cashless exercise of stock options	`CashlessExerciseOfOptionsAndWarrants`	$4.00	USD	1 Quarter

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