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MeridianLink(MLNK) - 2024 Q4 - Annual Results
MLNKMeridianLink(MLNK)2025-03-06 21:07

Financial Performance - Fourth quarter revenue reached 79.4million,representinga779.4 million, representing a 7% year-over-year growth[1] - Full year 2024 revenue totaled 316.3 million, a 4% increase year-over-year[6] - The company expects full year 2025 revenue to be in the range of 326.0millionto326.0 million to 334.0 million[12] - Total revenues for Q4 2024 reached 79,437thousand,representinga779,437 thousand, representing a 7% increase from 74,579 thousand in Q4 2023[24] - Subscription fees contributed 65,208thousandinQ42024,upfrom65,208 thousand in Q4 2024, up from 61,999 thousand in Q4 2023, marking a growth of 4%[26] Profitability Metrics - Non-GAAP operating income was 17.8million,or2217.8 million, or 22% of revenue, while GAAP operating loss was (0.2) million[6] - Adjusted EBITDA for the fourth quarter was 33.4million,accountingfor4233.4 million, accounting for 42% of revenue[6] - Non-GAAP operating income for Q4 2024 was 17,828 million, up from 15,209millioninQ42023,representinga1715,209 million in Q4 2023, representing a 17% increase[35] - Net loss for Q4 2024 was 7,745 million, a significant improvement compared to a net loss of 29,574millioninQ42023[36]−AdjustedEBITDAfortheyearendedDecember31,2024,reached29,574 million in Q4 2023[36] - Adjusted EBITDA for the year ended December 31, 2024, reached 130,704 million, compared to 112,990millionin2023,reflectinganincreaseof15.7112,990 million in 2023, reflecting an increase of 15.7%[36] - Non-GAAP net income for the year ended December 31, 2024, was 18,026 million, compared to a loss of 15,543millionin2023[35]−Non−GAAPbasicnetincomepershareforQ42024was15,543 million in 2023[35] - Non-GAAP basic net income per share for Q4 2024 was 0.08, compared to a loss of 0.29pershareinQ42023[35]−Thenetlossmarginimprovedto(10)0.29 per share in Q4 2023[35] - The net loss margin improved to (10)% in Q4 2024 from (40)% in Q4 2023, showing a positive trend in profitability[36] Cash Flow and Liquidity - Cash and cash equivalents increased to 92,765 thousand as of December 31, 2024, compared to 80,441thousandattheendof2023[32]−Thecompany’scashflowsfromoperatingactivitiesfortheyearendedDecember31,2024,were80,441 thousand at the end of 2023[32] - The company’s cash flows from operating activities for the year ended December 31, 2024, were 77,802 thousand, compared to 67,964thousandin2023,showinga14.567,964 thousand in 2023, showing a 14.5% increase[32] - Net cash provided by operating activities for Q4 2024 was 13,813 million, compared to 12,478millioninQ42023,representinganincreaseof10.712,478 million in Q4 2023, representing an increase of 10.7%[41] - Free cash flow for Q4 2024 reached 12,050 million, up from 9,636millioninQ42023,markingagrowthof25.59,636 million in Q4 2023, marking a growth of 25.5%[41] - Total net cash provided by operating activities for the year ended December 31, 2024, was 77,802 million, compared to 67,964millionin2023,reflectingayear−over−yearincreaseof14.067,964 million in 2023, reflecting a year-over-year increase of 14.0%[41] - Total free cash flow for the year ended December 31, 2024, was 70,343 million, up from 57,771millionin2023,indicatingagrowthof21.857,771 million in 2023, indicating a growth of 21.8%[41] Expenses and Investments - Operating expenses for Q4 2024 were 52,986 thousand, up from 42,764thousandinQ42023,reflectinga2442,764 thousand in Q4 2023, reflecting a 24% increase[24] - Research and development expenses for the year ended December 31, 2024, totaled 39,454 million, down from 47,517millionin2023,indicatingareductionof16.947,517 million in 2023, indicating a reduction of 16.9%[40] - General and administrative expenses for Q4 2024 were 32,393 million, an increase from 22,481millioninQ42023,representinga4422,481 million in Q4 2023, representing a 44% rise[40] - Capitalized software costs decreased from 2,246 million in Q4 2023 to 1,609millioninQ42024[41]−Capitalexpendituresalsosawadeclinefrom1,609 million in Q4 2024[41] - Capital expenditures also saw a decline from 596 million in Q4 2023 to 154millioninQ42024[41]DebtandAssets−Long−termdebtincreasedto154 million in Q4 2024[41] Debt and Assets - Long-term debt increased to 464,922 thousand in 2024 from 420,004thousandin2023,representinga10.7420,004 thousand in 2023, representing a 10.7% rise[22] - Total assets decreased to 961,333 thousand in 2024 from 996,251thousandin2023[22]StrategicInitiatives−MeridianLinkachievedrecordbookingsinthefourthquarter,drivenbydemandforMeridianLink®One[2]−ThecompanylaunchedanewShare−of−Walletadd−onforMeridianLink®Consumer,resultinginconversionratesofupto9996,251 thousand in 2023[22] Strategic Initiatives - MeridianLink achieved record bookings in the fourth quarter, driven by demand for MeridianLink® One[2] - The company launched a new Share-of-Wallet add-on for MeridianLink® Consumer, resulting in conversion rates of up to 9%[6] - A new partnership with ScoreNavigator was announced, enhancing credit report analysis for customers[6] - The Board of Directors approved a stock repurchase program authorizing up to 129.5 million of common stock[1] Litigation and Settlements - The company incurred $1.5 million in settlements related to litigation during the year ended December 31, 2024[36]