MeridianLink 3T Revenue Up 29% YoY

Costa Mesa-based MeridianLink, which provides cloud-based software for small financial institutions, said third quarter revenue was $ 67.4 million, an increase of 29% year over year. ‘other, exceeding analysts’ estimates.

The company (NYSE: MLNK) also reported Adjusted EBITDA of $ 31 million, while it recorded an operating loss of $ 8.8 million. The average of the eight analysts cited by Yahoo Finance reported revenue of $ 63.1 million for the three-month period ended September 30.

MeridianLink, which began trading on the New York Stock Exchange in July, has added more than 60 new and existing clients to MeridianLink Portal, its consumer loan and digital point-of-sale solutions. It is aimed in particular at credit unions and regional banks, mortgage lenders and specialist loan providers.

“The strong performance this quarter shows that financial institutions and consumer news agencies repeatedly choose us to better serve their clients by accelerating their digital transformation,” said Managing Director Nicolaas Vlok. “The adoption of the MeridianLink portal by over 60 new and existing customers underscores this demand.

Shares of MeridianLink rose 3.6% to $ 25.63 each, giving the company a market cap of $ 2.1 billion.

For more details on the latest earnings from OC’s tech companies, please see the November 15 edition of the Business Journal.

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