>>> Mitek Systems (NASDAQ:MITK) helps businesses manage identity verification processes which is all the more important today as deepfakes, fraudsters and all-around bad actors try to subvert systems for pleasure and profit. The company leverages AI to do so by applying computer vision and machine learning to validate real-time visualizations from users and customers.
Industry experts recognize Mitek’s strength among AI stocks and awarded the firm the “Authentication Innovation Award” at a recent AI Breakthrough Awards program. Judges based Mitek’s strength on its four-fold, AI-enabled verification system that combines selfies, liveness validation to mitigate bot and deepfake photos, voice biometrics and voice liveness.
Though not yet wildly profitable, Mitek is nevertheless a solid performer, hitting a 1 cent EPS in its most recent quarterly report, and expects the fiscal year’s remainder to offer a 6% sales growth rate and land between $180 and $185 million. Moreover, Mitek is able to accomplish something that many small-cap AI stocks can’t: repurchase shares to improve shareholder value. The company just announced a $50 million buyback program over the next two years.
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