Meridianlink, Inc. ( (MLNK) ) has released its Q3 earnings. Here is a breakdown of the information Meridianlink, Inc. presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
MeridianLink, Inc. is a prominent provider of cloud-based digital lending, account opening, background screening, and data verification software solutions, primarily serving financial institutions and consumer reporting agencies. The company leverages a unified data platform to assist clients in identifying growth opportunities and improving compliance and customer experiences.
In its latest earnings report for the third quarter of 2024, MeridianLink reported revenues of $80.4 million, reflecting a 5% increase from the previous year. The company’s lending software solutions contributed $63.0 million, marking a 7% year-over-year growth, despite challenges posed by the current macroeconomic environment.
Key financial metrics from the quarter included an operating income of $2.6 million and a non-GAAP operating income of $18.0 million. The company recorded a net loss of $7.1 million but achieved an adjusted EBITDA of $33.8 million. Notably, MeridianLink returned $31.3 million to stockholders through stock repurchases.
Strategically, MeridianLink’s land and expand approach has continued to drive demand, with notable successes such as the implementation of its mortgage solution at Broadway Bank, which significantly reduced loan processing times. The company also completed a secondary public offering to increase liquidity and attract new investors.
Looking ahead, MeridianLink has issued guidance for the fourth quarter and full year 2024, with revenue expectations ranging from $313.0 million to $317.0 million for the year. The company remains focused on delivering durable growth through its digital solutions and strategic initiatives.
