Mitek Systems, Inc. (NASDAQ:MITK) Q1 2024 Earnings Call Transcript

Those are the growth drivers in the Identity side of things, and I think you’ll see that in the second half of this year, but you’ll see it going into ‘25 as well. And that’s without even, I don’t want to reach back, but that’s without even talking about CFD again, which very much is a digital banking offering, but I’ve said this many times now that there’s this very growing important intersection between what we do for finding fraud for these financial institutions and what we do from an Identity perspective. It’s very rare for somebody to perpetrate check fraud without simultaneously perpetrating identity fraud, and the access that we’re having to these customers for Check Fraud Defender, the insights and the kind of challenges that they face, is helping us in both lines of business.

Operator: The next question is from Scott Buck with HC Wainwright.

Scott Buck: Hi. Good afternoon, guys. Just one for me. With the ID business moving towards breakeven in the fourth quarter, what kind of margin tailwind on a consolidated basis should we be thinking about for fiscal ‘25?

Dave Lyle: We don’t guide for ’25.

Max Carnecchia: Yes, our guidance for ’25 outside of what we already did, but I wouldn’t say we’re going to see directionally material changes to what we’ve seen in the past.

Operator: Thank you. This concludes our question-and-answer session. I’d like to turn the call back over to Todd Kehrli for closing remarks.

Todd Kehrli: Thank you, operator, and thank you all for joining us today and for your continued support. As always, if you have any follow-up questions or would like to meet with management, please feel free to reach out to me, and I’ll set something up. Thanks again, and have a great rest of your day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect your lines.