Operator

Good afternoon, ladies and gentlemen, and welcome to the Mitek Reports Fiscal Second Quarter 2026 Financial Results.

[Operator Instructions] This call is being recorded on Thursday, May 7, 2026. I would now like to turn the conference call over to Mr. Ryan Flanagan with IRC. Please go ahead.

Ryan Flanagan

Thank you, operator. Good afternoon, and thank you for joining us today to discuss Mitek's Fiscal Second Quarter 2026 financial results.

Joining me today are Chief Executive Officer, Ed West; and Chief Financial Officer, Dave Lyle. Please note that today's call will include forward-looking statements and because these statements are based on the company's current intent, expectations and projections, they are not guarantees of future performance, and a variety of factors could cause actual results to differ materially. A description of these risks and uncertainties can be found in our 10-Q filing dated May 7, 2026, and our other SEC filings.

These forward-looking statements include, but are not limited to, our expectations around customer demand for our products and services, expansion of our Check Fraud Defender or CFD, data consortium, the ongoing stability of our check verification business, our growth and investment plans, expected improvements in gross profit and unit economics, improvement to operating leverage and scale, expected free cash flow conversion rates and our FY '26 financial outlook and guidance.

Except as required by law, we do not undertake any obligation to update these forward-looking statements. This call will also include references to non-GAAP adjusted results. Please reference this afternoon's press release and our Investor