diff --git a/MaterialComponents.podspec b/MaterialComponents.podspec
index b05e065e272..b485a22c2f7 100644
--- a/MaterialComponents.podspec
+++ b/MaterialComponents.podspec
@@ -2,7 +2,7 @@ load 'scripts/generated/icons.rb'
 
 Pod::Spec.new do |mdc|
   mdc.name         = "MaterialComponents"
-  mdc.version      = "109.3.0"
+  mdc.version      = "109.3.1"
   mdc.authors      = "The Material Components authors."
   mdc.summary      = "A collection of stand-alone production-ready UI libraries focused on design details."
   mdc.homepage     = "https://github.com/material-components/material-components-ios"
diff --git a/MaterialComponentsBeta.podspec b/MaterialComponentsBeta.podspec
index 575396a38b5..716372a5b8a 100644
--- a/MaterialComponentsBeta.podspec
+++ b/MaterialComponentsBeta.podspec
@@ -1,6 +1,6 @@
 Pod::Spec.new do |mdc|
   mdc.name         = "MaterialComponentsBeta"
-  mdc.version      = "109.3.0"
+  mdc.version      = "109.3.1"
   mdc.authors      = "The Material Components authors."
   mdc.summary      = "A collection of stand-alone alpha UI libraries that are not yet guaranteed to be ready for general production use. Use with caution."
   mdc.homepage     = "https://github.com/material-components/material-components-ios"
diff --git a/MaterialComponentsEarlGreyTests.podspec b/MaterialComponentsEarlGreyTests.podspec
index 2c7b7f6f2a5..8e3183f8440 100644
--- a/MaterialComponentsEarlGreyTests.podspec
+++ b/MaterialComponentsEarlGreyTests.podspec
@@ -1,6 +1,6 @@
 Pod::Spec.new do |s|
   s.name         = "MaterialComponentsEarlGreyTests"
-  s.version      = "109.3.0"
+  s.version      = "109.3.1"
   s.authors      = "The Material Components authors."
   s.summary      = "This spec is an aggregate of all the Material Components EarlGrey tests."
   s.description  = "This spec is made for use in the MDC Catalog."
diff --git a/MaterialComponentsExamples.podspec b/MaterialComponentsExamples.podspec
index 5063fbcac88..505bde44ea8 100644
--- a/MaterialComponentsExamples.podspec
+++ b/MaterialComponentsExamples.podspec
@@ -1,6 +1,6 @@
 Pod::Spec.new do |s|
   s.name         = "MaterialComponentsExamples"
-  s.version      = "109.3.0"
+  s.version      = "109.3.1"
   s.authors      = "The Material Components authors."
   s.summary      = "This spec is an aggregate of all the Material Components examples."
   s.description  = "This spec is made for use in the MDC Catalog. Used in conjunction with CatalogByConvention we create our Material Catalog."
diff --git a/MaterialComponentsSnapshotTests.podspec b/MaterialComponentsSnapshotTests.podspec
index 2275a6ebb3c..fef8f393c4a 100644
--- a/MaterialComponentsSnapshotTests.podspec
+++ b/MaterialComponentsSnapshotTests.podspec
@@ -53,7 +53,7 @@ end
 
 Pod::Spec.new do |s|
   s.name         = "MaterialComponentsSnapshotTests"
-  s.version      = "109.3.0"
+  s.version      = "109.3.1"
   s.authors      = "The Material Components authors."
   s.summary      = "This spec is an aggregate of all the Material Components snapshot tests."
   s.homepage     = "https://github.com/material-components/material-components-ios"
diff --git a/VERSION b/VERSION
index 6b2693394f1..d62ef9f89eb 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-109.3.0
+109.3.1
diff --git a/catalog/MDCCatalog/Info.plist b/catalog/MDCCatalog/Info.plist
index 3d066bc2274..a2e5a3c875b 100644
--- a/catalog/MDCCatalog/Info.plist
+++ b/catalog/MDCCatalog/Info.plist
@@ -15,11 +15,11 @@
 	<key>CFBundlePackageType</key>
 	<string>APPL</string>
 	<key>CFBundleShortVersionString</key>
-	<string>109.3.0</string>
+	<string>109.3.1</string>
 	<key>CFBundleSignature</key>
 	<string>????</string>
 	<key>CFBundleVersion</key>
-	<string>109.3.0</string>
+	<string>109.3.1</string>
 	<key>LSRequiresIPhoneOS</key>
 	<true/>
 	<key>UIAppFonts</key>
diff --git a/catalog/MDCDragons/Info.plist b/catalog/MDCDragons/Info.plist
index 7464602519f..5db388341f2 100644
--- a/catalog/MDCDragons/Info.plist
+++ b/catalog/MDCDragons/Info.plist
@@ -15,9 +15,9 @@
 	<key>CFBundlePackageType</key>
 	<string>APPL</string>
 	<key>CFBundleShortVersionString</key>
-	<string>109.3.0</string>
+	<string>109.3.1</string>
 	<key>CFBundleVersion</key>
-	<string>109.3.0</string>
+	<string>109.3.1</string>
 	<key>LSRequiresIPhoneOS</key>
 	<true/>
 	<key>UILaunchStoryboardName</key>
diff --git a/catalog/MaterialCatalog/MaterialCatalog.podspec b/catalog/MaterialCatalog/MaterialCatalog.podspec
index 91977c8d990..5e6f7fc3bbc 100644
--- a/catalog/MaterialCatalog/MaterialCatalog.podspec
+++ b/catalog/MaterialCatalog/MaterialCatalog.podspec
@@ -1,6 +1,6 @@
 Pod::Spec.new do |s|
   s.name         = "MaterialCatalog"
-  s.version      = "109.3.0"
+  s.version      = "109.3.1"
   s.summary      = "Helper Objective-C classes for the MDC catalog."
   s.description  = "This spec is made for use in the MDC Catalog."
   s.homepage     = "https://github.com/material-components/material-components-ios"
diff --git a/components/LibraryInfo/src/MDCLibraryInfo.m b/components/LibraryInfo/src/MDCLibraryInfo.m
index 18ee43e8f38..010c609e08b 100644
--- a/components/LibraryInfo/src/MDCLibraryInfo.m
+++ b/components/LibraryInfo/src/MDCLibraryInfo.m
@@ -19,7 +19,7 @@
 // This string is updated automatically as a part of the release process and should not be edited
 // manually. Do not rename this constant or change the formatting without updating the release
 // scripts.
-static NSString const *MDCLibraryInfoVersionString = @"109.3.0";
+static NSString const *MDCLibraryInfoVersionString = @"109.3.1";
 
 @implementation MDCLibraryInfo
 
diff --git a/components/LibraryInfo/tests/unit/LibraryInfoTests.m b/components/LibraryInfo/tests/unit/LibraryInfoTests.m
index 30d9552253f..e8da593299b 100644
--- a/components/LibraryInfo/tests/unit/LibraryInfoTests.m
+++ b/components/LibraryInfo/tests/unit/LibraryInfoTests.m
@@ -26,7 +26,7 @@ - (void)testVersionFormat {
   // Given
 
   // This regex pattern does the following:
-  // Accept: "109.3.0", etc.
+  // Accept: "109.3.1", etc.
   // Reject: "0.0.0", "1.2", "1", "-1.2.3", "Hi, I'm a version 1.2.3", "1.2.3 is my version", etc.
   //
   // Note the major version must be >= 1 since "0.0.0" is used as the version when something goes
diff --git a/demos/supplemental/RemoteImageServiceForMDCDemos.podspec b/demos/supplemental/RemoteImageServiceForMDCDemos.podspec
index cfb8310c0d5..bc2c748010b 100644
--- a/demos/supplemental/RemoteImageServiceForMDCDemos.podspec
+++ b/demos/supplemental/RemoteImageServiceForMDCDemos.podspec
@@ -1,6 +1,6 @@
 Pod::Spec.new do |s|
   s.name         = "RemoteImageServiceForMDCDemos"
-  s.version      = "109.3.0"
+  s.version      = "109.3.1"
   s.summary      = "A helper image class for the MDC demos."
   s.description  = "This spec is made for use in the MDC demos. It gets images via url."
   s.homepage     = "https://github.com/material-components/material-components-ios"