Complete List of All AI Companies Under $2 Billion Market Cap

22. Mitek Systems, Inc. (NASDAQ:MITK)

Market Capitalization: $454.56 Million

Number of Hedge Fund Holders: 19

Mitek Systems, Inc. (NASDAQ:MITK) provides mobile image capture and identity verification solutions worldwide. Its main products include Mobile Deposit for remote check deposits, Mobile Verify for identity checks, and Mobile Fill for simplified form completion. It also offers MiSnap for image capture, tools like CheckReader and Check Fraud Defender for check processing and fraud prevention, and solutions like MiVIP and MiPass for KYC processes and identity theft protection.

Additional offerings include ID_CLOUD, IDLive Face, IDLive Doc, and IDVoice to combat fraud and better security. The company aims to strengthen its AI-powered solutions and upgrade fraud and identity detection to tackle rising digital fraud. The company not only has AI-driven solutions but is also focused on combating rising AI-driven threats and deepfakes. At its latest earnings call, the company CEO Ed West said:

“Mitek is a trusted leader in computer vision and identity-related application of AI and fraud prevention. We revolutionized check processing with our mobile check deposit solution and we continue to push boundaries with innovations in identity verification, authentication and fraud management”

He also added:

“Customers are increasingly seeking integrated platforms, not just point solutions, to combat rising AI-driven threats and deepfakes. Our fraud platform stands out with proprietary capabilities with an established track record of leading in trusted third-party and U.S. government-led benchmarks.

This independently verified technological leadership, combined with our exceptional talent and domain expertise, positions Mitek to lead in this evolving market. The rapid proliferation of AI leads to new growing period of GenAI-driven fraud. We are uniquely positioned to address this growing problem as a result of our proprietary technologies and proven track record in high assurance market segments.”

In December, Allen Klee of Maxim Group maintained a Buy rating on Mitek Systems with a $13 price target, emphasizing its strong financial performance and strategic focus. The company outperformed expectations in F4Q24, achieving significant revenue, adjusted EBITDA, and EPS growth, driven by strong results in its Identity and Deposits segments.