The following is a summary of the MeridianLink, Inc. (MLNK) Q1 2024 Earnings Call Transcript:

Financial Performance:

• MeridianLink reported Q1 2024 GAAP revenues of $77.8 million, a 1% growth year-over-year.

• Adjusted EBITDA was $31.8 million, up 27% year-on-year, surpassing the company's forecast.

• Lower subscription revenues were balanced by higher service and other revenues.

• Management successfully managed expenses, leading to improvement on EBITDA despite macroeconomic challenges.

• First quarter GAAP gross margin and non-GAAP adjusted gross margin were 66% and 74%, respectively.

• GAAP Operating income was $3.4 million, with Non-GAAP Operating income at $16.3 million.

Business Progress:

• The company reported strong performance for its end-to-end lending platform, MeridianLink One, and has been successful in onboarding new clients.

• Expansion of the platform capabilities included the launch of a new data analytics and reporting tool, MeridianLink Insight Lite.

• A significant cross-selling win was noted with a large financial institution adding MeridianLink mortgage tools to their portfolio, indicating successful execution of their land-and-expand strategy.

• The company hosted a successful conference with significant new partnerships and integrations in their pipeline.

• With the appointment of a new CFO and a healthy balance sheet, the company believes it is well-positioned to face macro headwinds in the upcoming quarters.

More details: MeridianLink IR

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