Logan W Lillehaug's questions to Mitek Systems Inc (MITK) leadership • Q1 2025
Question
Logan W Lillehaug, on for George Sutton of Craig-Hallum, asked about the growth drivers for the Identity segment, specifically questioning the mix between expansion with existing customers versus the need for new customers to reach the $80M-$85M revenue target.
Answer
CEO Ed West responded that growth will come from a combination of both expanding existing relationships and acquiring new customers, with no specific target for the mix. CFO David Lyle emphasized that the opportunity for expansion revenue is 'pretty large' and is a significant component of the growth expected in fiscal 2025.