Source document: mitek-systems_2019

Question: How much was the unrecognized compensation expense related to outstanding stock options in 2019?
Facts: $2.0 million
Answer: $2.0 million

Question: What is aggregate intrinsic value?
Facts: the value of the Company’s closing stock price on the last trading day of the fiscal period in excess of the weighted-average exercise price, multiplied by the number of options outstanding and exercisable
Answer: the value of the Company’s closing stock price on the last trading day of the fiscal period in excess of the weighted-average exercise price, multiplied by the number of options outstanding and exercisable

Question: What is the number of shares outstanding as of September 30, 2018?
Facts: 2,806,364
Answer: 2,806,364

Question: What is the total price of shares that were exercised or canceled between 2016 and 2017?
Facts: 2.92; 235,514; 3.59; 81,794
Derivation: (235,514*2.92)+(81,794*3.59) 
Answer: 981341.34

Question: What is the proportion of granted shares between 2017 and 2018 over outstanding shares at September 30, 2017?
Facts: 2,845,866; 299,397
Derivation: 299,397/2,845,866 
Answer: 0.11

Question: What is the price of outstanding shares on September 30, 2019?
Facts: 1,686,902; 7.00
Derivation: 1,686,902*7.00 
Answer: 11808314

Question: What does the table show us?
Facts: The difference between the income tax benefit (provision) and income taxes computed using the U.S. federal income tax rate
Answer: The difference between the income tax benefit (provision) and income taxes computed using the U.S. federal income tax rate

Question: What are the income tax benefits (provision), for the fiscal years 2017, 2018, and 2019, respectively?
Facts: $(3,066); $10,921; $3,264
Answer: $10,921; $(3,066); $3,264 thousand

Question: What are state income tax for the years 2018 and 2019, respectively?
Facts: (370); 50
Answer: 50; (370) thousand

Question: Which year has the highest income tax benefit? 
Facts: 2017
Derivation: 10,921>3,264>-3,066
Answer: 2017

Question: What is the sum of amount computed using statutory rate and foreign rate differential in 2018 as a percentage of 2019?
Facts: 2,122; 22; 664; 841
Derivation: (2,122+22)/(841+664) 
Answer: 1.42

Question: What is the percentage change in research and development credits from 2018 to 2019?
Facts: 1,694; 475
Derivation: (1,694-475)/475 
Answer: 256.63 percent

Question: How is the cost of the Restricted Stock Units (RSUs) determined?
Facts: using the fair value of the Company’s Common Stock on the award date
Answer: using the fair value of the Company’s Common Stock on the award date

Question: How much were the stock-based compensation expenses related to outstanding RSUs in fiscal years 2018 and 2019, respectively?
Facts: $5.9 million; $6.8 million
Answer: $5.9 million; $6.8 million

Question: What was the number of shares outstanding on September 30, 2016, and 2017, respectively?
Facts: 2,046,169; 2,357,021
Answer: 2,046,169; 2,357,021

Question: What is the proportion of RSUs that were settled or canceled between 2017 and 2018 over RSUs outstanding on September 30, 2017?
Facts: 2,357,021; 216,554; 745,197
Derivation: (745,197+216,554)/2,357,021 
Answer: 0.41

Question: What is the ratio of the price of RSUs that were granted to the price of RSUs that were settled between 2018 and 2019?
Facts: 1,147,976; 6.53; 881,420; 9.67
Derivation: (1,147,976*9.67)/(881,420*6.53) 
Answer: 1.93

Question: What is the price of RSUs outstanding on September 30, 2019?
Facts: 2,352,487; 8.26
Derivation: 2,352,487*8.26 
Answer: 19431542.62

Question: How much money did the Company deposit into an escrow fund in 2017 and 2018, respectively? 
Facts: $1.5 million
Answer: $1.5 million; $1.5 million

Question: What is the total net assets acquired from A2iA?
Facts: $48,816
Answer: $48,816 thousand

Question: What are the estimated fair values of intangible assets of A2iA and ICAR Acquisition, respectively?
Facts: 28,610; 6,407
Answer: 28,610; 6,407 thousand

Question: Which acquisition has the highest net assets?
Facts: A2iA
Derivation: 48,816 > 11,467
Answer: A2iA

Question: What is the average of net assets from both A2iA and ICAR acquisitions?
Facts: 11,467; 48,816
Derivation: (48,816+11,467)/2 
Answer: 30141.5 thousand

Question: What are the total liabilities from both A2iA and ICAR acquisitions?
Facts: 1,602; 1,652; 2,688; 7; 7,503; 828
Derivation: 2,688+7,503+7+1,652+1,602+828 
Answer: 14280 thousand

Question: Where are the principal executive offices, as well as research and development facility located?
Facts: San Diego, California
Answer: San Diego, California

Question: How much is the annual base rent for the office in Barcelona, Spain?
Facts: approximately €0.1 million (or $0.1 million)
Answer: approximately €0.1 million (or $0.1 million)

Question: How much are the total overall contractual obligations ?
Facts: $8,948
Answer: $8,948 thousand

Question: What is the proportion of total operating lease obligations that expire in 3 years over total operating lease obligations?
Facts: 1,699; 3,950; 8,392
Derivation: (1,699+3,950)/8,392 
Answer: 0.67

Question: What is the ratio of contractual obligations that expire in less than 1 year to the ones that expire in 3-5 years?
Facts: 1,830; 2,926
Derivation: 1,830/2,926 
Answer: 0.63

Question: What is the average contractual obligation based on the different term periods of the lease?
Facts: 1,830; 2,926; 4,095; 97
Derivation: (1,830+4,095+2,926+97)/5 
Answer: 1789.6 thousand

Question: What does the table provide for us?
Facts: the Company’s unaudited pro forma financial information is presented as if the acquisitions occurred on October 1, 2017
Answer: the Company’s unaudited pro forma financial information is presented as if the acquisitions occurred on October 1, 2017

Question: What are the revenue and net loss related to the A2iA and ICAR businesses for the year ended September 30, 2018, respectively?
Facts: $5.3 million; $9.1 million
Answer: $9.1 million; $5.3 million

Question: What are the pro forma revenues in 2018 and 2019, respectively?
Facts: $78,130; $86,206
Answer: $86,206; $78,130 thousand

Question: What is the percentage change in pro forma revenue from 2018 to 2019? 
Facts: 78,130; 86,206
Derivation: (86,206-78,130)/78,130 
Answer: 10.34 percent

Question: What is the average pro forma net income (loss) for the last 2 years, i.e. 2018 and 2019?
Facts: 12,268; 2; 889
Derivation: (889+(-12,268))/2 
Answer: -5689.5 thousand

Question: Which year has a higher amount of pro forma revenue?
Facts: 2019
Derivation: 86,206> 78,130
Answer: 2019

Question: How is software and hardware revenue generated from?
Facts: on premise software license sales, as well as sales of hardware scanner boxes and on premise appliance products
Answer: on premise software license sales, as well as sales of hardware scanner boxes and on premise appliance products

Question: What is the value of Deposits software and hardware in fiscal 2019?
Facts: $41,860
Answer: $41,860 thousand

Question: What is the total revenue in the fiscal year 2018?
Facts: $63,559
Answer: $63,559 thousand

Question: What is the average of the Company’s total revenue from 2017 to 2019?
Facts: 45,390; 63,559; 84,590
Derivation: (45,390+63,559+84,590)/3 
Answer: 64513 thousand

Question: What is the proportion of deposits revenue over total revenue in 2017?
Facts: 32,370; 45,390
Derivation: 32,370/45,390 
Answer: 0.71

Question: Which year had the greatest amount of total revenue?
Facts: 2019
Derivation: 84,590> 63,559> 45,390
Answer: 2019

Question: What does the table show us?
Facts: selected financial data has been derived from our audited financial statements
Answer: selected financial data has been derived from our audited financial statements

Question: How should the table be read together with?
Facts: Item 7— “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and related notes thereto included elsewhere in this Form 10-K
Answer: Item 7— “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and related notes thereto included elsewhere in this Form 10-K

Question: How much were the revenues from 2015 to 2019 respectively?
Facts: $25,367; $34,701; $45,390; $63,559; $84,590
Answer: $25,367; $34,701; $45,390; $63,559; $84,590 thousand

Question: What is the percentage change in working capital from 2018 to 2019?
Facts: 17,221; 34,082
Derivation: (34,082-17,221)/17,221 
Answer: 97.91 percent

Question: In which year did the company earn the highest net income?
Facts: 2017
Derivation: $ 14,092>$ 2,526>$ 1,959>$ (724)> $ (11,807)
Answer: 2017

Question: What is the average total assets for the last 5 years, i.e. 2015 to 2019?
Facts: 127,150; 135,897; 38,746; 48,385; 71,719
Derivation: (135,897+127,150+71,719+48,385+38,746)/5 
Answer: 84379.4 thousand

Question: What are the balances of current contract assets and liabilities as of September 30, 2019, respectively?
Facts: $2,350; 5,612
Answer: $2,350; 5,612 thousand

Question: What do contract liabilities primarily relate to?
Facts: advance consideration received from customers, deferred revenue, for which transfer of control occurs, and therefore revenue is recognized, as services are provided
Answer: advance consideration received from customers, deferred revenue, for which transfer of control occurs, and therefore revenue is recognized, as services are provided

Question: How are contract balances being reported?
Facts: in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period
Answer: in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period

Question: What is the percentage change of total balances of contract assets, including current and non-current, from 2018 to 2019?
Facts: 169; 2,350; 507; 581
Derivation: ((2,350+581)-(169+507))/(169+507) 
Answer: 333.58 percent

Question: What is the total balance of contract assets and liabilities in 2019?
Facts: 2,350; 5,612; 581; 736
Derivation: 2,350+581+5,612+736 
Answer: 9279 thousand

Question: What is the ratio of contract liabilities to contract assets in 2018?
Facts: 169; 4,281; 485; 507
Derivation: (4,281+485)/(169+507) 
Answer: 7.05

Question: How does the company calculate net income (loss) per share?
Facts: in accordance with FASB ASC Topic 260,Earnings per Share
Answer: in accordance with FASB ASC Topic 260,Earnings per Share

Question: What is basic net income (loss) per share based on?
Facts: the weighted-average number of common shares outstanding during the period
Answer: the weighted-average number of common shares outstanding during the period

Question: What is the amount of potentially dilutive common shares outstanding of stock options and RSUs in 2019, respectively?
Facts: 1,687; 2,352
Answer: 1,687; 2,352 thousand

Question: What is the percentage change in the amount of potentially dilutive common shares outstanding of ESPP common stock equivalents from 2018 to 2019?
Facts: 71; 74
Derivation: (74-71)/71 
Answer: 4.23 percent

Question: What is the average of total potentially dilutive common shares outstanding from 2017 to 2019?
Facts: 4,113; 5,457; 676
Derivation: (4,113+5,457+676)/3 
Answer: 3415.33 thousand

Question: What is the ratio of the amount of stock options between 2018 to 2019?
Facts: 1,687; 2,806
Derivation: 2,806/1,687 
Answer: 1.66

Question: How does the Company assess the realizability of deferred tax assets?
Facts: the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized
Answer: the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized

Question: Which laws limit the utilization of tax attribute carryforwards that arise prior to certain cumulative changes in a corporation’s ownership?
Facts: Sections 382 and 383 of the Internal Revenue Code of 1986
Answer: Sections 382 and 383 of the Internal Revenue Code of 1986

Question: What are the Company’s net deferred tax assets in 2018 and 2019, respectively?
Facts: $11,041; $7,194
Answer: $7,194; $11,041 thousand

Question: What is the proportion of research credit carryforwards and intangible assets over total deferred assets in 2019?
Facts: 17,783; 5,570; 58
Derivation: (5,570+58)/17,783 
Answer: 0.32

Question: What is the percentage change in net deferred tax assets from 2018 to 2019?
Facts: 11,041; 7,194
Derivation: (11,041-7,194)/7,194 
Answer: 53.48 percent

Question: What is the average of total deferred assets from 2018 to 2019?
Facts: 15,879; 17,783
Derivation: (17,783+15,879)/2 
Answer: 16831 thousand

Question: What is the condition when an uncertain income tax position will not be recognized?
Facts: if it has less than a 50% likelihood of being sustained
Answer: if it has less than a 50% likelihood of being sustained

Question: How much of total unrecognized tax benefits will impact the Company’s effective tax rate on September 30, 2019?
Facts: $1.6 million
Answer: $1.6 million

Question: What is the gross unrecognized tax benefit at the end of the year 2018?
Facts: $1,321
Answer: $1,321 thousand

Question: What is the average gross unrecognized tax benefit at the end of the year from 2017 to 2019?
Facts: 1,181; 1,321; 1,607
Derivation: (1,607+1,321+1,181)/3 
Answer: 1369.67 thousand

Question: What is the proportion of addition from tax positions taken in the current year and prior years over gross unrecognized tax benefit at the end of the year 2019?
Facts: 1,607; 213; 73
Derivation: (213+73)/1,607 
Answer: 0.18

Question: What is the percentage change in gross unrecognized tax benefits at the beginning of the year from 2018 to 2019?
Facts: 1,181; 1,321
Derivation: (1,321-1,181)/1,181 
Answer: 11.85 percent

Question: What does the table provide for us?
Facts: stock-based compensation expense related to RSUs, stock options, and ESPP shares for the fiscal years ended September 30, 2019, 2018, and 2017
Answer: stock-based compensation expense related to RSUs, stock options, and ESPP shares for the fiscal years ended September 30, 2019, 2018, and 2017

Question: What are the stock-based compensation expenses for research and development in 2017, 2018, and 2019, respectively?
Facts: 1,028; 1,801; 2,013
Answer: 1,028; 1,801; 2,013 thousand

Question: What is the stock-based compensation expenses for selling and marketing in 2018?
Facts: 2,656
Answer: 2,656 thousand

Question: What is the percentage change in the cost of revenue between 2017 and 2019?
Facts: 207; 52
Derivation: (207-52)/52 
Answer: 298.08 percent

Question: What is the average expense of general and administrative from 2017 to 2019?
Facts: 2,821; 4,415; 4,450
Derivation: (4,450+4,415+2,821)/3 
Answer: 3895.33 thousand

Question: What is the proportion of selling and marketing, as well as general and administrative over total stock-based compensation expense in 2017?
Facts: 1,577; 2,821; 5,478
Derivation: (1,577+2,821)/5,478 
Answer: 0.8

Question: What does intangible assets include?
Facts: the value assigned to completed technologies, customer relationships, and trade names
Answer: the value assigned to completed technologies, customer relationships, and trade names

Question: What is the range of the estimated useful lives of the intangible assets?
Facts: two to seven years
Answer: two to seven years

Question: What are the costs of completed technologies and customer relationships in 2019, respectively?
Facts: $20,341; 17,628
Answer: $20,341; 17,628 thousand

Question: Which intangible assets have the highest proportion of accumulated amortization over cost in 2019?
Facts: Trade names
Derivation: (377/618)>(6,701/17,628)>(7,104/20,341) = 0.61>0.38>0.35
Answer: Trade names

Question: What is the percentage constitution of the cost of customer relationships among the total cost of the total intangible assets in 2019?
Facts: 17,628; 38,587
Derivation: 17,628/38,587
Answer: 45.68 percent

Question: What is the average net value of the three categories of intangible assets in 2019?
Facts: 10,927; 13,237; 241
Derivation: (13,237+10,927+241)/3 
Answer: 8135 thousand

Question: What segment do expenditures for repairs and maintenance belong to?
Facts: operations
Answer: operations

Question: What are the total depreciation and amortization of property and equipment for the fiscal year 2018 and 2019, respectively?
Facts: $0.6 million; $1.4 million
Answer: $0.6 million; $1.4 million

Question: What does the table provide for us?
Facts: a summary of property and equipment as of September 30, 2019 and 2018
Answer: a summary of property and equipment as of September 30, 2019 and 2018

Question: What is the average of total repairs and maintenance expenses from 2017 to 2019?
Facts: 0.1; 0.2
Derivation: (0.1+0.1+0.2)/3 
Answer: 0.13 million

Question: What is the percentage change of net total property and equipment from 2018 to 2019?
Facts: 4,231; 4,665
Derivation: (4,231-4,665)/4,665 
Answer: -9.3 percent

Question: What is the proportion of the total value of leasehold improvements and equipment over the total value of property and equipment at cost in 2019?
Facts: 3,041; 3,575; 8,230
Derivation: (3,575+3,041)/8,230 
Answer: 0.8

Question: How long are the maturity dates of the Company’s short-term investments as of September 2018?
Facts: less than one year from the balance sheet date
Answer: less than one year from the balance sheet date

Question: How does the management review the fair value of the portfolio? 
Facts: at least monthly and evaluates individual securities with fair value below amortized cost at the balance sheet date
Answer: at least monthly and evaluates individual securities with fair value below amortized cost at the balance sheet date

Question: What are the costs of short-term and long-term U.S. Treasury securities, respectively?
Facts: $4,240; 1,102
Answer: $4,240; 1,102 thousand

Question: Which securities have the highest fair market value in 2019?
Facts: Corporate debt securities, short-term
Derivation: 12,260>4,242>1,101>451
Answer: Corporate debt securities, short-term

Question: What is the percentage gain of short-term U.S. Treasury securities in 2019?
Facts: 2; 4,242
Derivation: 2/4,242 
Answer: 0.05 percent

Question: What is the ratio (including both short-term and long-term) of the cost from the U.S. Treasury securities to corporate debt securities in 2019?
Facts: 1,102; 12,258; 4,240; 451
Derivation: (4,240+1,102)/(12,258+451) 
Answer: 0.42