Earnings call transcript Q4 2022

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Operator

Good afternoon, and welcome to the Mitek Systems Fiscal 2022 Fourth Quarter and Full Year Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Todd Kehrli of MKR Investor Relations. Please go ahead.

Todd Kehrli

operator. you, Thank welcome Fiscal and Fourth and Quarter Good Earnings to Conference Year XXXX Call. Full afternoon, Mitek's With me on and today's call are Mitek's Fuad Interim CEO, Ahmad. CFO, Max Carnecchia;

like to Before and call turn a over I Fuad, quick the I'd to items. cover few Max

issued company's Mitek announcing release parties This broadcast on is website Year at press and release is live its results. being Internet interested XXXX miteksystems.com. website. and financial page a will That Quarter for over available Full be afternoon Investor This the Fourth Fiscal of webcast on all the company's the the the call archived Relations

today I remind facts, particularly are regarding to to forward-looking management are as not our today's call comments likely include market These and plans statements. long-term considered will statements future discussed and discuss about influence be the want may forward. opportunities comments performance. that that factors expectations company's of forward-looking going should that everyone historical certain business prospects on factors the Any

statements number complete XX-K risks. cause to our of SEC recent and including listeners materially. for differ XX-Q to risks a these encourage our We filings, of subject results to could review actual most which description our uncertainties, of and a Forward-looking are all

any Our new publicly or expectations of the of June are events, result the Company herein, statements on statements as update made future and a revise this forward-looking today, XX, changes undertakes to otherwise. XXXX call as of or no whether information, obligation in contained

describe periods the reporting the the non-GAAP current report between Today's two present discussing the non-GAAP X-K measures. related release release. we reconciliation for earnings and be will throughout Form our and the in the and differences between call, reported certain this Additionally, GAAP on financial

CEO, Max. With call that to I'll the now Mitek's over turn said,

Max Carnecchia

record governance afternoon, our report listing Mitek, and while to Thanks, it and cash XXXX a fiscal today. revenue, for has financial year everyone. record of business. reports, temporarily filing BDO from flow enhanced very was full-year joining earnings, us our strong Fiscal are for The of periodic we Thank record finally I'm impacted controls Good you fiscal the now another Todd. excited operations. results. stronger XXXX and

launched during Live to MiVIP, long-term addressable platform continued [indiscernible] This intelligence markets. that commitment and check also identity further product. also recognizing and time. reinforces Check within about Fraud We to penetrate our innovation awarded Excellence. Mitek's target our enhanced integrated optimism our our Product Biometrics ID We were large ability ongoing momentum patents Defender prospects our the

for million, Quickly fiscal looking of XXXX. the of year-over-year. record numbers reported We $XXX.X XX% revenue at representing growth

Non-GAAP from flow We and during interested up as banks, to customer accomplished million we move value a fight serve. of lot component we our against through and trusted of or a also breadth product operations well share, XX% the fintechs, in generated they diluted as markets the our beyond online continues year, performance. XXXX world-leading provided of critical in businesses fraud, their marketplaces record revenue fiscal in $X.XX our just million. as record and earnings year-over-year, a of per $XX strong $XX net income We We cash Mitek way. as and and distinguish more are the secured the itself expanded offerings exceptional to

and on performance their that business With two of me the now, touch let lines year. during our fiscal

detection also to consumers to Fraud its with increased come. associated will and most of due to recent believe over and customers XX% a with revenue of defend during reducing by grow forgeries losses it several fraud enhances Check synthetic Mobile the Defender traction XXXX We Defender continues deposits losses fiscal skyrocket. to to and and activities, fraudulent Check these to for we Fraud Adoption identify and institutions our as business deposit against X,XXX check growth fiscal be checks. Fraud of Defender line is years convenience continues helps driver Fraud in and gain new started Check year-over-year. growth of Check significantly Liveness deposits use. added things of business ease our Our used Check XXXX innovation our for financial product

move business, we on Before USAA's quick identity like to to a situations. our provide I'd on litigation update

we the capture to USAA the of lawsuits not some at the Mitek six according as been has prove last months issue patents against are do judgment that in related in matters Appeal invalidated patents and Trial provide the USAA have USAA with US look positive which that various Board, to of clients. related there to Along While to the to have infringe of in been five our financial sue on the as pursue banking developments is Patent PTAB our efforts, to our to continue capture. institutions. support action four relying any USAA they Two auto USAA declaratory our products the we to lawsuits, not or auto

We USAA one of coming auto including expect their capture. additional invalidate patents the additional acts, they review to patents the USAA more USAA continue as PTAB in to months related

not continue prosecute We patents. case technology, infringe on our to to core as its Mitek and we our also of believe all products any vigorously intended intend to do USAA

this market this sector. to to opportunity identity. highlight take opportunity tremendous I'd that to lies Switching within the like

solutions organizations of and interconnected verification are individuals robust and a and online alike. identity increasingly digital, sophisticated demand more crimes risks to for becomes experiences. more significant transformation the has rise world posing rapid need never been has Financial created for seamless becoming digital the The As secure crucial.

providing addressing these that enables smooth at only the also identity solution but is risks AI throughout and and trustworthy customer lifecycle. interactions Mitek of challenges mitigate not biometrics verification by forefront the

and with solutions. With the biometrics the in subsequent platform vision HooYu XXXX integration and of of acquisition technologies leading full existing computer those our

our integrated MiVIP, present strategically growth market of are create and vision and our delivered customer platform a Identity to intelligence as leading we computer market has share the This Verified adopted capture code economics. in We value biometrics, positioned positioned addressable XXXX, our by fully for shareholders. into expanding substantial Mitek's significant MiVIP it and this data banks, model. a and product. improved low In implementation unit launched Platform, leading expanded IP Already to our leverages capture identity

the multi-modal solution close XXXX, launched fiscal following first for identity of industry's biometrics authentication. continuous Shortly the we MiPass,

as With getting this I'm to of see category this couldn't of as machine-driven product vigilance biometrics prouder market overall addressable market. implemented Mitek's expands as voice who online. the it. built-in further well from strongest with and in I liveness MiPass those eager it attacks, somebody's onslaught to and most the purchased face possible things have footprint becomes identity already team's be quickly checks the in to used effortless together and our as authenticate

Customer past quarter, directly Summit, of I opportunity insightful the attending to engage Annual where was our privilege the our During European had with incredibly valued experience. customers. the I had an It

ongoing about value solutions identity banks and is our company experiences our identity customers and against screening the battle firsthand the and From heard our fraud. new to with large enable multinational effortless verification use creating consumers. seeks of I've As digital to government-associated agencies, returning their

Their address innovative the activities commitment combating of fraudulent testimonials evolving that the to evidence as serve market. of needs solutions and providing our an

making value XX% In year-over-year. fiscal are identity business our delivering proud impact fight technologies are our grew our we greater dedicated against customers We XXXX, identity and to the fraud. we the to and even positive of remain in advancing digital

Our XXXX to our our their would worldwide to to I position significant will product thank value customer Together, we our Mitekian in reaffirm unique fiscal every customers. wins leadership achievements for and and contributions delivering success. like continue

an planning the opportunity significant are to Investor calendar that we an event of later deposits strategy learn note and Before a about opportunity interested closing, on for our long-term the please chapter parties business the in event will for detail next This identity attend specific for products. be dedicated our the growth Day with to year.

results Now, discuss to I more call to turn financial over Fuad detail. in will the the

will Fuad's for questions. Fuad, call open remarks, please we ahead. go Following the

Fuad Ahmad

Thanks, everyone, I and with Max, revenue today thank will afternoon. joining QX results. and for operating start you, us this

XXXX, QX $XX.X Mitek fiscal generated increase revenue, XX% million For of year-over-year. of a

software another mobile hardware reorders. $XX.X we progress business. year-over-year. is the Software R&D quarter the deposit of and due R&D continued up increase are contribution strong the XX% revenue deposit continued primarily to in ID FX, as in ID and with million, revenue pleased had growing and hardware The was

noted transactional and we've is nature is previously, business. ID in R&D revenue identity part As of our

put to SaaS increased of was the into was value software revenue offered accounting as that and our growth transactional HooYu XX% Driving Notably, verified line other transactional the for since in quarter, up professional revenue increased $XX.X addition SaaS million However, as Services well on-prem, services this the volumes includes which year-over-year XX% . revenues, maintenance revenue. we transactional Mobile SaaS SaaS $XX million purposes. for it's revenue and revenue year-over-year.

million year-over-year strong from new software $XX.X to year-over-year revenue X% increased of of global quarter. by We driven revenue reorders. the our addition hardware line. for XX% XX% product contribution R&D driven deposits and the XXXX, in $XX.X Identity and revenue gross increased delivered deposit QX growth Mobile For verified million, and by margins to ID SaaS

GAAP was margin compared on operating QX cost was for Total including quarter gross revenue and XX% of the services Gross expenses, year. total other margin the for XX% last quarter to and compared costs HooYu. into acquisitions in increase This R&D million due and to associated in identity additional is the $XX.X were revenue business with million investments of year. and of $XX.X last to our ID QX XX%

year a quarter R&D million compared G&A or compared the were were ago. $X.XX year compared a Sales $X.X million $X $X.X and share. were $X.X for loss marketing was net expenses with expenses year for The the million a million ago. loss $XXX,XXX $X.X per million of GAAP quarter expenses million to and our last $XX to

ago. Our million was compared XX.X year to XX.X million diluted count share a

per non-recurring income of impacts Non-GAAP net result of related cash million those amortization We Now and believe discount decrease acquisition provides restructuring items. share, compensation, acquisition-related expenses additional as turning litigation a our flow headcount of and of and non-GAAP or issuance profitability a excluding useful $X.XX to HooYu. non-GAAP QX stock costs, and and was amortization for other income $X by and costs, a company's debt one-time tax of net from XX% of operating expenses, year-over-year the results. measure

Reconciliation GAAP non-GAAP is release provided to issued presentation earlier today. press our of in

grew our grew at results XX% year-over-year million, looking on of of growth Now the XXXX. that identity and that product $XXX.X an fiscal deposit business the a fiscal revenue year growth for XX% XXXX. increase full lines record was over Total in XX% strong the

revenue and due was due our as and well over mobile XX% in prior R&D. up Defender ID lines product in Fraud to deposit Check growth $XX.X growth Software the year primarily the hardware million, as

gross fiscal As XXXX decreased margin to XXX from basis in XX% fiscal result, points our XXXX. XX% a in

to XX% for is fiscal XXXX. in XXXX, was million. to in margin period over in million and revenue XX% SaaS fiscal the XX% other revenue, which increase year $XX Services increased an growth and This $XX.X primarily for to XXXX. revenue was $XX.X fiscal million XX% other for of increase due Gross services compared comparable the on transactional

the million, were XXXX year full business Total million, ID to operating $XX.X to revenue, additional lines. additional GAAP million and XXXX by (ph) XX% our XX% increase the from and and to our HooYu. Check and the primarily the in to [$X.X] SaaS of in Deposit acquisition additional revenue, SaaS operating expenses increased Identity verification throughout by deposits for and of total of increase revenue increased in million of revenue revenue costs compared Mobile $XXX.X acquisition fiscal growth the This of associated $XXX.X continued acquisition year headcount expenses of XX% R&D For from investments Defender product with transactional driven identity is HooYu. additional fiscal fiscal made XX% growth fuel adoption expenses an Fraud inclusion driven inclusion due XXXX. of to

our GAAP million compared $X.XX income non-GAAP in increased the for XXXX the XXXX. to fiscal in or share income Again $X $XX.X or net per net year income net income Non-GAAP share to compared share per reconciliation non-GAAP $X.XX per for of $X release. GAAP presentation press XXXX. share to or fiscal to was $XX.X of $X.XX please of fiscal million $X.XX GAAP million per million to or for net XX% refer

share diluted both $XX.X non-GAAP and GAAP EPS. for for Fully XXXX million count fiscal was

for Now the balance as the during September investments generated We turning our million in year, the to XXXX. cash XX, flow from $XX.X bringing million of total $XX.X quarter cash to $XXX sheet. full million operations and and

recently, As we operations. from flow generate cash noted meaningful to continue

investments and of XX, to March the cash $XXX.X million XXXX, increased $XX.X by Our million. at end

guidance. on Moving to

we guidance XXXX fiscal the reiterating are month. We earlier this provided

of ending XX, for in million, expect the year-over-year We to be $XXX XXXX, increase range. guidance million range the of revenue midpoint the the fiscal September from to of approximately year XX% an $XXX

non-GAAP well XXXX with to are record fiscal included expects pleased quarterly, our margin XXXX as range its Mitek In which for results, addition, In XX.X% fiscal the operating net non-GAAP of to full-year income. record revenue be we in as XX.X%.

to forward our our With valued that identity remarks. the to operator, to deliver for questions. look prevention We service concludes industry-leading Please customers. fraud line continue prepared open global that

Operator

We Grondahl with Our question-and-answer Instructions] session question Northland go ahead. Securities. from first Please will [Operator the now begin Mike is

Mike Grondahl

bit guys. trying pricing? both ID, Just Mobile feel trends Mobile and and a little talk activity In about a Hey, and Check could and to both price trends in you areas. transaction for volume get

Todd Kehrli

the Mike, check from similarly, continue for as the So business and and right? -- you hit see customers XXXX customers existing when for verifications increased, well FY verify refill know, new transaction about although, mobile orders both be lumpy, that deposits, periods can of has when little So excuse we're actually a then addition those and talking and as transaction we me, increased the you identity total volumes in for to reorder that the tanks. customers mobile as the deposit or volume

able I push in we that methodical price continuously been Deposit, increases of and push about be the to think case tried that. have we know to price we've Mobile

it's no think surprise. I

the pushback may consistently. adoption that continued and reflected mobile been Check equity us customers see addition the we've of but that set other of and which Deposit, Mobile to side able that it do pricing. has the Our in part, seeing on increased partners in banking of you're usage be to increase to And

Mike Grondahl

the the you signed banks have And number in Check quarter or Fraud then, breaking of you Defender up for revenue out of it. fourth are XXXX? the Got

Todd Kehrli

of network online coming probably into the off but while. not. base that we're And very number offering. use for we're customers, do customers straight We a jump the some you No, won't and us see adopt increase a small it's watching and continuously the

the arms implementation kind get well. we on-premise Some it of are small starting queues But about with when to think drop talk a I their [indiscernible]. we'll as

pretty see to do underway. that interest continue got We those number big strong. just testing customers of in with elaborate a customers, pipelines with big, We are we've product and a testing

Mike, months. we've course XX in as think of talked exploded the Check has just the I before, last Fraud

banks. is this So very big a retail topic for

Mike Grondahl

no, Yeah, track it. trying Sure. to we're

So of the number bugigng revenue, you. will I guess keep or it banks

March? the XX-K Lastly, timing and our what should expectations then the December and be for on

Fuad Ahmad

Yes, news now release our Mike, numbers so I unaudited. think are

the XX releasing -- that buttoned we up next to about days. down, to but it need We're with numbers follow guys. will We we comfortable talking felt the XX-K make -- just with today to week can the you everything sure we we get

of will feel is we in more precise this point. be once filed a terms continue In and the we Q at few that can K that process weeks that on

entirety filings idea So our in its including QX. is it the becoming we in months us expectation weeks follow not to up will and start on current our after for that soon

today. So as of that's right the on more be I numbers expectation quarterly can't the precise now.

Max Carnecchia

forward looking getting regular are schedule. to a we But back on

Mike Grondahl

good. Sounds

Hey, good. thanks, guys. Sounds

Max Carnecchia

Yeah, Mike.

Operator

go Blair. with question from next William Roberge The ahead. Please Jake is

Jake Roberge

you From taking a the impacted Deposit, could for and the the hear but in would to love little macro. bit more it business Mobile each macro questions. how ID thanks my as that kind comments, business like it be than you're talk units relates just Hey, your each impacting takes may of seems more verification about seeing we to puts your of is specifically? Max,

Max Carnecchia

impact, our in and crypto space, had FY a don't crypto of bit and out. on at competitors September very a kind relative probably we quarter, about have the pretty the little retrace a identity nothing in July through We was it XXXX, watch from then of June lot talking customers from to there. hard, crypto of pointing a identity. think I talk Yes, We about the not a to that to little kind who follows there's more of went that but had very we're and any XXXX handful them exposure here timeline a macro

into that in with things some the changed we the defender Since check queue get happening our just all are the for law definitely Fraud. has started Check then and and we off regards

I deposits think positive our on a that's business. been

if the we business those that, mortgage things refinancing identity business interest and seem businesses. you're sensitive like like on to be On blocks tough or

drop come Jake. So as to we more skews, those

Jake Roberge

on on in to the And your would wanted get And some seems It how thoughts universe. love AI then, your Okay, could could core helpful. me and you and just fraud platform? to there AI. identity Generative to the could how technology then be But touch tailwinds to integrate that around like that. plan secular impact

Todd Kehrli

Sure.

I I to want a won't don't on I have be to is be generally be I see through So to lot Gen-AI. us that lenses. that business two add. clearly still our transformative. In -- We're much we know inconsistency mindful going

is technology. we and got to learning robust we've do the AI. first The history able will what be using I and mean, with very machine long

So this on is have. and knowledge scientists our and top built engineers of a that deep experience of base very just

our to testing, with and you basis teams. around the of building, So it documents, seeing underway. that's biometrics see voices. that our use We're mean, core the ability identity in model model I already teams

internally increase think So much in I some more new in much offerings. be and or us That's tested things development, interesting quickly. that for ideas more regard, velocity then cheaply result to could that of very things customer-facing for there's that us

to can generally, that banks, and things we're weapons the fakes and financial that images not same you're with other finance all banks every think the the videos trying for the faces seeing owing tools identity fraud but and bigger anticipate be that could institutions. be deep applied other day to of create with happen towards we every stuff I These kind and can out used right? anybody as for just just challenge, there, seeing already

think focus I puts defenses it more just meaning right having Mitek. on a with right partnering organization the the So and and bigger like

Jake Roberge

that move opportunity few your timeline? been consultants what we with your one dialog lot the they've a forward. is And with have regaining just we just process then if more the working passed I and June NASDAQ on but of in. throughout could looks that since very compliance you XX type Very, Yeah, auditors, sneak feedback agreed. past you've as been understand over and helpful providing interesting and like the I over what weeks

Max Carnecchia

the and with NASDAQ. Well, Sure. was current SEC the requirement obviously SEC know, being the on, the is for regulator, NASDAQ you is Jake the sit that market we the

So NASDAQ has which under we're rigorous process very a working. structured and currently

I very think brought a constructive them but in advisors. positive we're and with late, working way right? So at we're we've

high positive As have you in fact and flow bank. we based we mentioned the our on this are at of the business. cash performance The confidence, point that cash

We here. no continue There of allegations grow. misconduct to are

arbitrator high towards of that have filing the arbitrator, is We But we every the will working that. confidence NASDAQ Hopefully day. ultimate that regain status. the hard it

Jake Roberge

taking Thanks questions. Thank helpful. Very you. my for

Operator

The Stephanie Please next is ahead. question Jefferies. from go Moore with

Stephanie Moore

earlier Hi, need afternoon, for the helpful. target would be for XXXX flip touch can Thanks. maybe happen you turn what be wanted targets little target? your to It is could a to side, what achieved, for about delay to the you what on actually to half in and segment happen that good to XXXX. needs your to bit see second I profit on achieving this the or that the target a and maybe Could you ID thanks update. talk for of

Max Carnecchia

Stephanie. for the thanks questions, Well, Sure.

forecasting that get we're business make next is with guidance. in currently top who very want takes we but on business, that with faster. well. as it is identity sooner the end the get to we path, isolation. by of got that still newer to The working to get happening to For a we're happen that that that the breakeven if things -- could maybe in believe business we'd longer a the to deposits story, be and is things line that XXXX, line, year. didn't could we here to we've growth seen we're the put And to the those current current little profitably like make guiding identity that We've the our fiscal been able The that we've top

to budgets. just the day-to-day of think quarters down business pretty and in the the is, kind both we've course relative those thing of and circumstance. macroeconomic in living has then of we've considerably Probably five the I When those about our discipline in changed markers the uncertainty worked the to biggest last operate as budgeting world laid

biggest think question So that's mark. I probably the unknown or biggest

Stephanie Moore

any do I that bit Great, an were platform come originally really this slight I think you talk a that's of incremental of what opportunities helpful to to is or appreciate it's the time a versus know could of you love their cross-sell this kind the kind strategy isn't end-to-end there. Thanks. you shift as in ago, pricing last managing if about you customers you've to are kind it. to opportunity I point, interesting terms moving maybe entire kind business and you think more of I'd an and speak why within touched strategy inside spoke or hear that where you opens a I'd up about cycle. of couple ID the maybe Could really you're we thinking space right this think little kind the weeks little And your love offering bit, life hear of a because the

Max Carnecchia

it or up persistent not being multiple a something. think cases use orchestrating for the the or new part to new was a in Sure, life, and identity a world-leading been end-to-end account for sudden some mean, and the capability customer an this the new thanks. accounts, the of to with a that. not onboarding your just and somebody years. do this local the customers ID change signals, signs It underpinning manage foundational we've a R&D liveness opening or after of for card working capturing anything the those no-code associated but HooYu knowing in I acquisition and new from three Well, towards for then I able platform easy platform checks better acquisition [indiscernible] of lifecycle like is well really biometrics for

been back that's here strategy going So three years. the

been we've is. go. incredible the where with that. think or the to think capabilities have very we're That's not the and market fortunate fine-tune capture I go talent able I where going. teams market's the That's to the it we just that And as

deposits continue continue us and to but leverage see that to beyond that, with able Check a so the identity identity you'll first getting business. signals we're Defender evolve strategy see intersect being not beyond Fraud and it that to to result business and fraud it's And of our as as you're identity and that our signal that just our with with deposits starting business broad a

Stephanie Moore

Great. appreciate you. Thank That's Really all from the time. me.

Max Carnecchia

Stephanie. Thanks,

Operator

question ahead. Please [Operator Klee Group. is Allen from The Instructions] with Maxim next go

Allen Klee

Good XXXX? afternoon. the some us business deposits you identity rates give of the the color think on versus about how growth relative fiscal in Can you

Max Carnecchia

will expected it. new it's on Allen, sense Hey, we're a think we're business We've give But range. its have with end the will so business guidance and to about and break on year the Fraud to We and a business, grow. we that of probably record growth are see think behind growth going stand the talked Check slowly down I relative Check digit, it. of that to Obviously, Defender we introduced XXXX Sure. traditional fiscal not modulate and of record I to high much as been been growth, of XX% But I'm business. being low deposits and continue the we've many by on things that happy we high-single a since while anticipate we and you talked just the double-digit that line to very about that. but that relative

by XXXX of XXXX, Defender. the fastest that gross more maybe Check Fraud be uptake Just offset and continued in will

that So but the market deposit XXXX. a side, for idea today identity that's on being in year, was FY not looks year-and-a-half that definitely just on market the in But itself growth different for the we identity And it than little side. high-teens ago. can the us we deliver different, business see being the

that's think have good range a I maybe to mind. number, in a good your

Allen Klee

think how track or you. revenues? kind at about growth when Thank already you've And look you're continues future do of for spent with think operating kind of extent of the you expenses, that we that you to grow positioned kind in do some that this to

Max Carnecchia

be say we the scale, should Fuad a our would I able has to done very lot or without get Yeah, with something here leverage. ID to as add product, both teams, the into We've and to getting specifics systems. R&D bigger increase integrate maybe but we HooYu

operating. So, starting starting expect get we the as the synergies some to its P&L. make and able more of business, we're to to grow the that to the of continue kind expand that to more line through going way be But be take we to and see to to able bottom

Fuad Ahmad

guidance But is to on still be projecting have And will HooYu business and that all consolidation see I business non-GAAP I margin of a of where XXXX, XX.X% of XXXX. guidance for our just XX% the through slightly come and end growing obviously we ended higher operating, the XXXX and kind add bit. little non-GAAP operating and it's the and consolidating don't than think you high margin despite that in in. we're so at that, will included going from that higher operating that we we're to and synergies the for our

Allen Klee

be Thank caught up do is, you. you might Ks to your Qs able the on same your financials think release earnings? day on you you once that your report Last and question that you

Fuad Ahmad

point, this set expectation. that I wouldn't At

the the in auditor that to will fiscal They work. XXXX. that's will way profits move their work just sequentially do and we think for to XXXX complete all I and they'll then

sequentially. that So we'll do

for then to release starting get the back in be auditors the cadence K for and we'll with call, completed, said about earlier we their and at the XX I finish talking on and QX normal those thereafter. work that the days Qs we'll expectation As the after then after the and least weeks that

Allen Klee

Okay. much. Thank very you

Fuad Ahmad

Allen. Thanks,

Operator

This concludes our Todd to turn to any question-and-answer back session. over for remarks. Kehrli I closing would like the conference

Todd Kehrli

call The to We operator, us a everyone joining wonderful for again you, quarter. day. and you you, has look Thank concluded, today. updating next and have forward thank in

Operator

concluded. conference for has now The you today's presentation. attending Thank

disconnect. now may You

Mitek Systems (MITK) 29 Jun 232022 Q4 Earnings call transcript