i3 Verticals vs Mitek Systems
i3 Verticals reported revenue of $213 million in fiscal 2025, 1.2 times Mitek Systems' $180 million in fiscal 2025. i3 Verticals' revenue grew 11.5% in its latest year, and Mitek Systems' grew 4.4%. i3 Verticals had an operating margin of 1.8%, against 9.3% at Mitek Systems. Free cash flow was $4 million at i3 Verticals and $54 million at Mitek Systems.
Side by side
| i3 Verticals | Mitek Systems | |
|---|---|---|
| Latest fiscal year | FY2025, Sep 30, 2025 | FY2025, Sep 30, 2025 |
| Revenue | $213M | $180M |
| Revenue growth | 11.5% | 4.4% |
| Revenue growth a year, last 5 years | 7.3% | 12.1% |
| Gross margin | — | — |
| Operating margin | 1.8% | 9.3% |
| Net margin | 8.4% | 4.9% |
| Free cash flow | $4M | $54M |
| Free cash flow margin | 1.8% | 30.1% |
| Return on capital | 0.4% | 18.3% |
| Net debt to EBITDA | −2.1x | −10.4x |
| Dividends and buybacks | $38M | $5M |
| Change in diluted share count | 0.9% | −1.1% |
| Last close | $19.07 | $17.24 |
| P/E at the last close | — | 36.7× |
| Insider trades, last 12 months | bought $961,500, sold $704,639 | sold $3.5 million |
| Piotroski F-score | 5 of 8 | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
i3 VerticalsMitek Systems
Operating margin
Percent of revenue
i3 VerticalsMitek Systems
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
i3 VerticalsMitek Systems
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the i3 Verticals and Mitek Systems pages.