MeridianLink Swings To Q1 Profit

(RTTNews) - MeridianLink, Inc. (MLNK) Thursday reported first-quarter net income of $7.5 million or $0.09 per share, compared to a net loss of $1.7 million or $0.03 per share last year.

Adjusted net income for the quarter was $13.7 million or $0.17 per share, up from $9.2 million or $0.17 per shares last year.

Revenues for the quarter rose 7% to $72.8 million from $67.8 million last year.

Analysts polled by Thomson Reuters expected an earnings of $0.07 per share and revenues of $68.79 million for the quarter.

"We saw a strong start to 2022, once again exceeding guidance in Q1, with GAAP revenue up 7% year-over-year to $72.8 million, lending software solutions revenue up 14% year-over-year to $49.2 million and 47% adjusted EBITDA margins," said Nicolaas Vlok, chief executive officer of MeridianLink.

MeridianLink's Board of Directors has approved a stock repurchase program with authorization to purchase up to $75 million of common stock.

Looking forward to the second quarter, the company expects revenue of $71.5 million to $73.5 million and adjusted EBITDA of $25.0 million to $27.0 million. Analysts currently estimates revenues of $72.86 million for the quarter.

For the full year 2022, the company now expects revenues of $289.0 million to $293.0 million and adjusted EBITDA of $112.0 million to $116.0 million. Analysts currently estimate revenues of $289.91 million for the year.

Previously, the company expected revenue of $288.0 million to $292.0 million and adjusted EBITDA of $112.0 million to $116.0 million.