Mitek Systems, Inc. (NASDAQ:MITK) Q3 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 04:30 pm ET


Mitek Systems, Inc. (NASDAQ:MITK) Q3 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Mitek Systems Third Quarter Fiscal 2020 Financial Results Conference Call. [Operator Instructions]

And at this time, I would like to turn the conference over to Todd Kehrli, MKR Group. Please go ahead.

Todd Kehrli

Thank you, operator. Good afternoon, everyone, and welcome to Mitek's third quarter fiscal 2020 earnings conference call. With me on today's call are Mitek's CEO, Max Carnecchia; and CFO, Jeff Davison.

Before I turn the call over to Max and Jeff, I'd like to cover a few quick items. This afternoon, Mitek issued a press release announcing its third quarter fiscal 2020 financial results. That release is available on the company's website at This call is being broadcast live over the Internet for all interested parties, and the webcast will be archived on the Investor Relations page of the Company's website.

I want to remind everyone that on today's call, management will discuss certain factors that are likely to influence the business going forward. Any factors discussed today that are not historical facts, particularly comments regarding our long-term prospects and market opportunities should be considered forward-looking statements. These forward-looking statements may include comments about the company's plans and expectations of future performance. Forward-looking statements are subject to a number of risks and uncertainties, which could cause actual results to differ materially. We encourage all of our listeners to review our SEC filings, including our most recent 10-K and 10-Q for a complete description of these risks. Our statements on this call are made as of today, July 30, 2020, and the company undertakes no obligation to revise or update publicly any of the forward-looking statements contained herein, whether as a result of new information, future events, changes in expectations or otherwise.

Additionally, throughout this call, we'll be discussing certain non-GAAP financial measures. Today's earnings release and the related current report on Form 8-K describe the differences between our non-GAAP and GAAP reporting and present the reconciliation between the 2 for the periods reported in the release.

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

Maximus Carnecchia

Thanks, Todd. Good afternoon, everyone, and thank you for joining us today. Before I cover the highlights of our strong Q3 performance, let me first restate our commitment to the well-being of the Mitek community during these challenging times. We continue to safely operate at full strength while working from home and applaud our global team members who remain highly effective in all aspects of our operations and are delivering on all service levels.

Mitek is steadfast in our commitment to empower trust and convenience in the digital economy, and we strive to ensure that all businesses are able to operate safely online through our simple to use secure identity verification solution. To reference a recent Forbes article, the pandemic has put trust in remote digital onboarding center stage, and it's not just banking, government benefits, health services, online education, dating companies and gaming are just some of the sectors witnessing the demand