SAN DIEGO – Mitek Systems, developer of mobile remote deposit capture technology, reported a tiny net of $26,275 for its fiscal first quarter, compared to an $800,000 loss for the same period last year, as revenues more than doubled for the quarter.
Processing Content
Mitek reported first quarter revenues of $3.5 million, up from $1.4 million for the fourth quarter of 2010. The growth in total revenue was driven primarily by increased sales of licenses for the company’s patented imaging software products.
The company said 56 customers have launched Mitek Mobile Deposit and it plans to launch a new version, Mobile Deposit 3.0.
