Mitek Systems vs Upland Software
Upland Software is the larger business, with $217m of revenue in fiscal 2025 against $180m for Mitek Systems (1.2 times as much). Mitek Systems grew faster (4.4% against -21.1%). Mitek Systems kept more of each dollar of sales as profit: a net margin of 4.9% against -17.9%.
| Latest fiscal year | Mitek SystemsMITK, 2025 | Upland SoftwareUPLD, 2025 |
|---|---|---|
| Revenue | $180m | $217m |
| Revenue growth | 4.4% | -21.1% |
| Net income | $8.8m | −$38.9m |
| Operating margin | 9.3% | — |
| Net margin | 4.9% | -17.9% |
| Return on equity | 3.9% | — |
| Free cash flow | $54.2m | $24.4m |
| Cash | $154m | $29.4m |
| Total debt | $152m | $240m |
| Debt to equity | 63.4% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $4.7m | — |
| Employees | 595 | 760 |
| Market value | $821m | $12.2m |
| Price vs our value range | Within our value range | — |
| Moat score | 50 (Moderate) | 45 (Weak) |
| Insider trades, 12 months | 0 buys, 3 sales | 0 buys, 6 sales |