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Mitek Systems vs Palo Alto Networks: revenue, profit, margins and growth compared

Mitek Systems brought in $179.7M of revenue in fiscal 2025, Palo Alto Networks $11.5B in fiscal 2026. Revenue changed by +4.4% at Mitek Systems and +24.5% at Palo Alto Networks on the year before, so Palo Alto Networks grew faster. Mitek Systems kept 4.9% of its revenue as net profit, Palo Alto Networks 2.7%. Free cash flow was $54.2M at Mitek Systems and $4.1B at Palo Alto Networks.

Side by side, latest fiscal year

MITKPANW
Fiscal year endedFY2025 (September 30, 2025)FY2026 (July 31, 2026)
Revenue$179.7M$11.5B
Revenue growth+4.4%+24.5%
Net income$8.8M$307M
Net margin4.9%2.7%
Free cash flow$54.2M$4.1B
Free cash flow margin30.2%35.8%
Earnings per share (diluted)$0.19$0.40
Cash$154.2M$2.5B
Debt$152.2Mn/a
Price to earnings93.0936.9
Market value$796.9M$305.4B
Dividend yieldn/an/a
Rank by revenue in sector#387 of 530 · Technology#55 of 530 · Technology

Over the years

Revenue
MITK FY2018: $63.6MMITK FY2019: $84.6MMITK FY2020: $101.3MMITK FY2021: $119.8MMITK FY2022: $144.8MMITK FY2023: $172.6MMITK FY2024: $172.1MMITK FY2025: $179.7MPANW FY2019: $2.9BPANW FY2020: $3.4BPANW FY2021: $4.3BPANW FY2022: $5.5BPANW FY2023: $6.9BPANW FY2024: $8BPANW FY2025: $9.2BPANW FY2026: $11.5BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MITK $179.7MPANW $11.5B
Net income
MITK FY2018: -$11.8MMITK FY2019: -$724KMITK FY2020: $7.8MMITK FY2021: $8MMITK FY2022: $3.7MMITK FY2023: $8MMITK FY2024: $3.3MMITK FY2025: $8.8MPANW FY2019: -$81.9MPANW FY2020: -$267MPANW FY2021: -$498.9MPANW FY2022: -$267MPANW FY2023: $439.7MPANW FY2024: $2.6BPANW FY2025: $1.1BPANW FY2026: $307MFY18FY19FY20FY21FY22FY23FY24FY25FY26
MITK $8.8MPANW $307M
Net margin
MITK FY2018: -18.6%MITK FY2019: -0.9%MITK FY2020: 7.7%MITK FY2021: 6.7%MITK FY2022: 2.6%MITK FY2023: 4.7%MITK FY2024: 1.9%MITK FY2025: 4.9%PANW FY2019: -2.8%PANW FY2020: -7.8%PANW FY2021: -11.7%PANW FY2022: -4.9%PANW FY2023: 6.4%PANW FY2024: 32.1%PANW FY2025: 12.3%PANW FY2026: 2.7%FY18FY19FY20FY21FY22FY23FY24FY25FY26
MITK 4.9%PANW 2.7%
Revenue growth
MITK FY2019: +33.1%MITK FY2020: +19.8%MITK FY2021: +18.2%MITK FY2022: +20.9%MITK FY2023: +19.2%MITK FY2024: -0.3%MITK FY2025: +4.4%PANW FY2020: +17.5%PANW FY2021: +24.9%PANW FY2022: +29.3%PANW FY2023: +25.3%PANW FY2024: +16.5%PANW FY2025: +14.9%PANW FY2026: +24.5%FY19FY20FY21FY22FY23FY24FY25FY26
MITK +4.4%PANW +24.5%
Free cash flow
MITK FY2018: $1.3MMITK FY2019: $13.2MMITK FY2020: $23.3MMITK FY2021: $36MMITK FY2022: $20MMITK FY2023: $30.6MMITK FY2024: $30.3MMITK FY2025: $54.2MPANW FY2019: $924.4MPANW FY2020: $821.3MPANW FY2021: $1.4BPANW FY2022: $1.8BPANW FY2023: $2.6BPANW FY2024: $3.1BPANW FY2025: $3.5BPANW FY2026: $4.1BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MITK $54.2MPANW $4.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about Mitek Systems and Palo Alto Networks

Which is bigger by revenue, Mitek Systems or Palo Alto Networks?

Palo Alto Networks is bigger by revenue: $11.5B in fiscal 2026, against $179.7M for Mitek Systems in fiscal 2025.

Which keeps more of its revenue as profit, Mitek Systems or Palo Alto Networks?

Mitek Systems had a net margin of 4.9% in fiscal 2025; Palo Alto Networks had 2.7% in fiscal 2026.

Which grew revenue faster, Mitek Systems or Palo Alto Networks?

In their latest fiscal years revenue changed by +4.4% at Mitek Systems and +24.5% at Palo Alto Networks.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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