Mitek Systems (MITK) Receives Nasdaq Non-compliance Notice

Mitek Systems, Inc. (NASDAQ: MITK) today reported that it received a notice (the “Notice) on February 16, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market LLC advising the Company that it was not in compliance with Nasdaq’s continued listing requirements under the Nasdaq Listing Rule 5250(c)(1) (the “Rule”) as a result of its failure to file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2022 (the “Form 10-Q”) in a timely manner and because the Company remains delinquent in filing its Form 10-K for the year ended September 30, 2022 (the “Form 10-K”).

In connection with its delinquent Form 10-K, on February 9, 2023, the Company submitted its plan to regain compliance with the Rule (the “Plan”). The Company is in the process of updating the Plan to include its plan to regain compliance with respect to the Form 10-Q. The Notice indicated that the staff of Nasdaq is reviewing the Plan and that any staff exception to allow the Company to regain compliance, if granted, will be limited to 180 days from the initial due date of the Form 10-K, or until June 12, 2023, to regain compliance.

In response to the Notice, the Company intends to file the Form 10-Q as promptly as possible in order to regain compliance with the Rule.

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