Mitek is purely an emerging revenue growth play, as the company isn't yet showing operating profits. The company's stock closed at $5.55 Friday, returning 73% this year.
Mitek had 1,059 financial institution customers for the Mobile Deposit product as of June 30, increasing very rapidly from 889 the previous quarter. Among signed customers for Mobile Deposit, 559 had deployed the service as part of their mobile banking applications at the end of the second quarter, including the largest 10 U.S. retail banks.
-- Written by Philip van Doorn in Jupiter, Fla.
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