<SEC-DOCUMENT>0001193125-16-533955.txt : 20160607
<SEC-HEADER>0001193125-16-533955.hdr.sgml : 20160607
<ACCEPTANCE-DATETIME>20160407170133
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ACCESSION NUMBER:		0001193125-16-533955
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160407

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MITEK SYSTEMS INC
		CENTRAL INDEX KEY:			0000807863
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
		IRS NUMBER:				870418827
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		8911 BALBOA AVE.
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123
		BUSINESS PHONE:		858-309-1700

	MAIL ADDRESS:	
		STREET 1:		8911 BALBOA AVE.
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;7, 2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporate
Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F. Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D. 20529 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mail Stop 4561 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Craig D. Wilson, Sr. Asst. Chief
Accountant </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Mitek Systems, Inc. </B></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Form 10-K for the fiscal year ended September&nbsp;30, 2015
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Filed December&nbsp;7, 2015 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Form 10-Q for the quarterly period ended December&nbsp;31, 2015 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>File February&nbsp;5, 2016 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>File No.&nbsp;001-35231 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
Mr.&nbsp;Wilson: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mitek Systems, Inc., a Delaware corporation (the &#147;<B>Company</B>&#148;), respectfully provides the following
responses to the comments set forth in the comment letter of the staff (the &#147;<B>Staff</B>&#148;) of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (the &#147;<B>Commission</B>&#148;) dated March&nbsp;28, 2016
(the &#147;<B>Comment Letter</B>&#148;) relating to the above-referenced report of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For convenience, the numbered paragraphs
of this letter correspond to the numbered paragraphs of the Comment Letter and the text of the Staff&#146;s comments appear in italics below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations Overview, page 22 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"><I>We note that your overview, which is substantially identical to the business overview as well as the MD&amp;A overview in your Form 10-Q filed February&nbsp;5, 2016, focuses on industry trends and product offering
descriptions. The MD&amp;A overview should not merely duplicate disclosure in the business section and generally should not remain static from one period to the next. Rather, the overview should provide an executive-level discussion of the most
significant matters with which management is concerned in evaluating your financial condition and operating results. It should also discuss material opportunities, challenges and risks and how management is responding to those concerns during the
relevant period. In this regard, we note your discussion in your 2016 first quarter earnings call, for example, that you expect your Mobile Verify and Mobile Fill solutions to exponentially expand your addressable market, drive higher average
selling prices, and increase revenue. Please confirm that you will provide conforming disclosure in future filings. Refer also to your responses to staff comments 3 and 4 in your letter dated February&nbsp;16, 2011. </I></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Response: </B>The Company confirms that it will provide conforming disclosure in future filings, and acknowledges its responses to staff
comments 3 and 4 in our letter to the Commission dated February&nbsp;16, 2011. The Company has recently added additional resources, including the appointment of general counsel, with experience and expertise and will provide conforming disclosures
in future filings. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Definitive Proxy Statement on Schedule 14A filed January&nbsp;27, 2016 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Information Regarding our Executive Officers </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Summary
Compensation Table, page 29 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>2.</I></TD>
<TD ALIGN="left" VALIGN="top"><I>We note that you provided disclosure for your principal executive officer, your principal financial officer and only one other named executive officer. As you know, Item&nbsp;402(a)(3)(iii) of Regulation S-K requires
that you provide disclosure for your three most highly compensated executive officers, other than the principal executive and financial officers, who were serving at the end of the last completed fiscal year. Please tell us how you determined that
no other individual is a named &#147;executive officer&#148; as defined in Exchange Act Rule 3b-7. In this regard, the executive profiles page of your website suggests that you may have additional executive officers. </I></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Response: </B>The Company respectfully advises the Staff that in connection with its preparation and filing of its proxy statement for the
2016 annual meeting of stockholders, the Company reviewed the definition of &#147;executive officer&#148; as set forth in Exchange Act Rule 3b-7 and determined that, other than its President and Chief Executive Officer, Chief Financial Officer, and
Chief Revenue Officer, it did not have any other executive officers during the 2015 fiscal year. During 2014, several of the Company&#146;s executive officers left the Company, and their respective duties and responsibilities were assumed by the
Company&#146;s President and Chief Executive Officer, Chief Financial Officer, and Chief Revenue Officer. In early 2016, the Company hired additional employees to its executive team and promoted certain individuals to executive roles. Therefore,
based on the Company&#146;s current management team, the Company anticipates listing additional named executive officers in its future filings, in accordance with Item&nbsp;402(a)(3)(iii) of Regulation S-K. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Certain Relationships and Related Transactions, and Director Independence, page 38 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><I>In future filings, please provide the disclosure required by Item&nbsp;404(b) of Regulation S-K with respect to your policies and procedures for the review, approval, or ratification of your related party
transactions. </I> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Response: </B>The Company confirms that it will, in its future filings, provide the disclosure
required by Item&nbsp;404(b) of Regulation S-K with respect to our policies and procedures for the review, approval, or ratification of our related party transactions.<B> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company acknowledges that: (i)&nbsp;the Company is responsible for the adequacy and accuracy of the disclosure in the filing;
(ii)&nbsp;Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filing; and (iii)&nbsp;the Company may not assert Staff comments as a defense in any
proceeding initiated by the Commission or any person under the federal securities laws of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Please do not hesitate to
call me at (858)&nbsp;309-1723, or the Company&#146;s General Counsel, Jason Gray, at (858)&nbsp;309-1782, with any questions or further comments you may have regarding the responses above. </P>
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<TD VALIGN="top">Sincerely, Mitek Systems, Inc.</TD></TR>
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<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">/s/ James B. DeBello</TD></TR>
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<TD HEIGHT="8"></TD></TR>
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<TD VALIGN="top">James B. DeBello</TD></TR>
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<TD HEIGHT="8"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Chief Executive Officer and Chairman</TD></TR>
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