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Sep 30, 2022
MeridianLink Q3 2022 Earnings Report
MeridianLink's Q3 2022 performance was marked by revenue growth and progress in cloud migration.
Key Takeaways
MeridianLink reported a 7% year-over-year increase in revenue to $71.8 million for Q3 2022, driven by strength in digital lending. The company completed its cloud migration ahead of schedule and announced the acquisition of OpenClose.
Revenue increased by 7% year-over-year to $71.8 million.
Lending software solutions revenue grew 17% year-over-year to $52.4 million.
The company achieved 36% adjusted EBITDA margins.
MeridianLink completed the migration of MeridianLink One functionality to the public cloud ahead of schedule.
MeridianLink
MeridianLink
Forward Guidance
The company issued fourth quarter financial guidance and updated full year 2022 financial guidance.
Positive Outlook
- Revenue is expected to be in the range of $65.0 million to $67.0 million for Q4 2022.
- Adjusted EBITDA is expected to be in the range of $19.0 million to $21.0 million for Q4 2022.
- Revenue is expected to be in the range of $282.5 million to $284.5 million for the full year 2022.
- Adjusted EBITDA is expected to be in the range of $107.0 million to $109.0 million for the full year 2022.