Mitek systems, inc. (MITK)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Sep'10
ASSETS
Current assets:
Cash and cash equivalents

16,928

14,793

16,748

16,092

18,745

10,437

9,028

8,634

25,238

6,341

12,289

9,299

12,959

6,215

9,010

5,009

13,226

4,353

2,753

2,730

5,740

12,784

7,766

9,141

7,920

10,176

23,294

22,945

9,991

9,592

6,702

6,193

6,221

6,711

5,655

14,024

1,305

Short-term investments

19,018

18,271

16,502

11,892

5,861

9,248

8,448

9,377

19,146

31,999

30,279

29,001

23,051

28,314

24,863

19,908

14,935

21,105

23,921

21,222

19,965

14,160

16,269

15,591

18,324

13,180

5,730

6,515

4,901

4,663

5,819

8,851

10,395

10,829

10,187

2,411

-

Accounts receivable, net

13,727

12,875

14,938

14,566

11,862

12,831

16,821

12,124

7,797

5,652

7,099

6,405

5,104

5,544

4,949

4,614

2,492

4,237

3,937

3,807

2,982

3,517

2,955

2,519

3,115

2,857

1,494

572

793

1,624

1,097

3,190

1,450

3,065

2,956

-

1,221

Contract assets

2,704

2,315

2,350

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses

1,604

1,978

1,487

1,847

2,070

2,096

2,278

-

-

-

911

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current assets

1,466

1,579

2,105

3,084

2,600

2,455

1,053

4,562

3,359

3,077

298

1,323

1,130

1,153

1,485

1,445

1,099

825

798

832

1,035

543

704

805

609

563

661

608

720

431

485

523

599

295

317

-

-

Accounts receivable including related party of $1,249 and $3,705, respectively, net of allowance of $38,020 and $6,003, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,045

-

Deferred maintenance fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

160

93

Inventory, prepaid expenses and other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

142

87

Total current assets

55,447

51,811

54,130

47,481

41,138

37,067

37,628

34,697

55,540

47,069

50,876

46,028

42,244

41,226

40,307

30,976

31,752

30,522

31,409

28,593

29,723

31,005

27,695

28,057

29,970

26,778

31,181

30,641

16,406

16,311

14,104

18,758

18,667

20,901

19,117

19,784

2,707

Long-term investments

6,546

6,805

1,552

-

-

-

0

0

939

7,482

3,780

4,616

3,896

-

1,952

8,313

3,753

2,144

-

763

2,517

-

2,072

1,623

-

4,052

-

-

418

828

2,085

401

818

-

417

-

-

Property and equipment, net

3,910

4,062

4,231

4,543

4,604

4,779

4,665

3,847

2,278

833

613

546

474

310

440

826

867

940

975

1,065

1,101

1,198

1,293

1,406

1,507

1,529

1,629

1,560

1,122

757

491

411

324

309

196

113

34

Right-of-use assets

6,000

6,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible assets, net

21,335

23,336

24,405

27,080

28,468

30,742

32,947

34,948

7,947

8,343

2,297

2,374

2,363

2,467

2,783

2,902

3,025

3,172

3,397

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,546

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill

33,554

34,234

32,636

33,925

33,440

34,058

34,407

34,049

10,298

10,012

3,014

2,914

2,725

2,683

2,863

2,833

2,806

2,806

2,873

2,882

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax assets, net

16,128

16,558

16,596

20,317

17,580

16,716

15,356

14,903

14,903

14,903

11,065

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Software development costs, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

125

228

Other non-current assets

5,059

3,656

2,347

2,524

2,410

2,815

2,147

1,679

430

306

74

62

62

-

40

92

92

92

92

92

42

42

42

42

42

42

42

42

42

42

42

42

54

88

120

29

38

Total assets

147,978

146,997

135,897

135,870

127,640

126,177

127,150

124,123

92,335

88,948

71,719

56,540

51,764

46,686

48,385

45,942

42,295

39,678

38,746

36,943

33,385

32,246

31,102

31,129

31,519

32,402

32,853

32,243

17,989

17,939

16,722

19,613

19,865

21,299

19,851

20,053

3,008

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

105

-

Accounts payable

2,925

4,268

3,555

3,593

3,117

4,507

3,573

3,853

2,304

2,962

1,918

1,828

1,820

1,380

1,318

1,107

1,608

1,611

1,538

2,341

1,300

1,436

1,792

1,594

1,684

1,540

1,875

2,336

1,776

1,155

711

1,279

761

542

358

518

228

Accrued payroll and related taxes

5,567

4,557

6,410

6,027

5,465

6,202

7,915

6,614

3,411

2,423

3,709

3,361

2,370

1,570

3,263

2,440

1,950

1,233

2,061

1,460

1,195

1,060

1,434

1,586

1,447

1,362

1,455

1,238

922

871

726

715

508

644

496

439

196

Deferred revenue, current portion

8,760

7,981

5,612

6,317

7,973

4,655

4,792

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities, current portion

1,400

1,300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue, current portion

-

-

-

-

-

-

-

4,924

3,953

2,969

3,305

3,960

3,677

2,794

3,391

3,815

3,770

4,225

3,516

3,674

3,635

3,827

2,826

3,602

3,225

3,026

2,335

2,686

2,436

2,439

1,632

1,669

1,546

1,232

873

1,027

831

Acquisition-related contingent consideration

575

1,062

1,036

1,180

1,162

1,823

1,849

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring accrual

333

630

1,526

3,082

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current liabilities

853

1,087

1,909

1,795

1,639

2,023

2,278

4,047

4,659

3,488

602

370

348

316

355

650

361

317

289

-

-

-

157

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred rent, current

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9

9

Other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

295

175

153

-

145

156

120

151

179

122

55

31

37

37

35

45

70

21

Total current liabilities

20,408

20,876

20,048

21,994

19,356

19,210

20,407

19,438

14,327

11,842

9,534

9,519

8,215

6,060

8,327

8,012

7,689

7,387

7,404

7,772

6,306

6,476

6,211

6,928

6,515

6,049

5,818

6,441

5,258

4,522

3,102

3,701

2,854

2,455

1,773

2,169

1,287

Deferred revenue, non-current portion

1,213

821

736

681

516

407

485

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities, non-current portion

6,100

6,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue, non-current portion

-

-

-

-

-

-

-

246

609

99

85

89

51

79

259

162

175

189

222

255

235

261

311

361

411

461

511

-

-

-

-

-

-

-

-

-

-

Deferred income tax liabilities

5,578

5,697

5,555

8,025

7,916

8,055

8,162

8,234

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-current liabilities

754

1,366

2,225

1,846

1,783

2,937

2,702

1,981

3,678

4,606

692

789

686

611

314

791

786

734

687

751

558

599

638

677

715

763

795

1,379

818

521

63

67

72

94

23

-

-

Convertible debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

679

Deferred rent, non-current

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27

39

Total liabilities

34,070

35,473

28,564

32,546

29,571

30,609

31,756

29,899

18,614

16,547

10,311

10,397

8,952

6,750

8,900

8,965

8,650

8,311

8,313

8,780

7,100

7,337

7,160

7,967

7,642

7,274

7,124

7,820

6,077

5,044

3,166

3,769

2,926

2,550

1,796

2,197

2,006

Stockholders’ equity:
Preferred stock, $0.001 par value, 1,000,000 shares authorized, none issued and outstanding

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

0

0

0

0

0

0

0

0

0

Common stock, $0.001 par value, 60,000,000 shares authorized, 41,075,875 and 40,367,456 issued and outstanding, as of March 31, 2020 and September 30, 2019, respectively

41

41

40

40

39

39

38

38

35

35

34

33

33

33

33

33

32

31

32

30

30

30

30

30

30

30

30

29

27

26

25

25

25

24

24

23

17

Additional paid-in capital

138,021

134,535

132,160

129,145

124,613

120,199

116,944

113,292

89,109

87,020

78,677

76,457

74,067

72,485

71,036

69,514

66,979

65,311

63,905

62,603

61,641

-

59,946

-

-

-

-

-

-

-

-

-

-

-

-

33,232

-

Additional paid-in capital

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60,769

-

59,158

58,235

57,300

56,431

53,661

39,095

37,684

36,990

36,268

35,353

34,322

33,660

-

16,477

Accumulated other comprehensive loss

-3,800

-2,800

-4,100

-1,800

-2,600

-1,400

-600

-231

668

277

147

-31

-356

-433

-42

-68

-125

-153

-3

-14

-13

-9

-7

2

7

0

1

-3

1

3

-0

-0

0

-4

-9

-0

-

Accumulated deficit

-20,340

-20,246

-20,806

-24,088

-23,989

-23,273

-21,002

-18,875

-16,091

-14,931

-17,450

-30,316

-30,932

-32,149

-31,542

-32,502

-33,241

-33,822

-33,501

-34,456

-35,373

-35,880

-36,026

-36,029

-34,396

-32,203

-30,735

-29,264

-27,212

-24,819

-23,459

-20,449

-18,440

-15,593

-15,619

-15,400

-15,494

Total stockholders’ equity

113,908

111,524

107,333

103,324

98,069

95,568

95,394

94,224

73,721

72,401

61,408

46,143

42,812

39,936

39,485

36,977

33,645

31,367

30,433

28,163

26,284

24,909

23,942

23,162

23,877

25,128

25,728

24,423

11,911

12,895

13,556

15,844

16,939

18,749

18,055

17,856

1,001

Total liabilities and stockholders’ equity

147,978

146,997

135,897

135,870

127,640

126,177

127,150

124,123

92,335

88,948

71,719

56,540

51,764

46,686

48,385

45,942

42,295

39,678

38,746

36,943

33,385

32,246

31,102

31,129

31,519

32,402

32,853

32,243

17,989

17,939

16,722

19,613

19,865

21,299

19,851

20,053

3,008