CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Operating activities:
Net income (loss)	$ 2,772	$ (4,612)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation expense	2,691	4,465
Amortization of acquired intangible assets	3,286	3,657
Amortization of costs capitalized to obtain revenue contracts	606	472
Depreciation and amortization expense	353	395
Bad debt expense	(71)	589
Amortization of investment premiums & other	(216)	(797)
Accretion and amortization on convertible senior notes	2,249	2,105
Deferred taxes	366	(343)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	4,911	(1,868)
Contract assets	444	(163)
Other assets	(856)	(738)
Accounts payable	1,183	(2,161)
Accrued payroll and related taxes	(6,211)	(2,532)
Income taxes payable	802	28
Deferred revenue	(4,181)	849
Other liabilities	(110)	1,219
Net cash provided by (used in) operating activities	8,018	565
Investing activities:
Purchases of investments	0	(12,375)
Maturities of investments	25,842	12,300
Sales of investments	0	1,250
Purchases of property and equipment, net	(1,426)	(335)
Net cash provided by (used in) investing activities	24,416	840
Financing activities:
Proceeds from the issuance of equity plan common stock	25	177
Repurchases and retirements of common stock	(9,995)	(3,257)
Payment of tax withholding obligations related to net share settlements of equity awards	(1,983)	0
Proceeds from other borrowings	442	0
Principal payments on other borrowings	0	(49)
Net cash provided by (used in) financing activities	(11,511)	(3,129)
Foreign currency effect on cash and cash equivalents	46	(1,115)
Net increase (decrease) in cash and cash equivalents	20,969	(2,839)
Cash and cash equivalents at beginning of period	154,153	93,456
Cash and cash equivalents at end of period	175,122	90,617
Supplemental disclosures of cash flow information:
Cash paid for income taxes	80	690
Supplemental disclosures of non-cash investing and financing activities:
Unrealized holding loss on available for sale investments	$ (23)	$ (138)

MITEK SYSTEMS INC 10-Q