Mitek Systems (MITK) Announces $15M Share Buyback

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Go back to Mitek Systems (MITK) Announces $15M Share Buyback

Mitek Announces $15 Million Share Repurchase Program

June 15, 2021 4:08 PM EDT

SAN DIEGO--(BUSINESS WIRE)-- Mitek (NASDAQ: MITK), a global leader in mobile capture and digital identity verification solutions, today announced that its Board of Directors authorized a share repurchase program for up to $15 million of its outstanding common stock. The company intends to fund the share repurchases from cash on hand and cash generated from operations. As of March 31, 2021, the Company had cash and investments of approximately $219.5 million and approximately 43.1 million shares of common stock outstanding.

Todays announcement reflects our confidence in the Mitek business and successful execution of our multi-year growth... More