Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 7, 2024

MeridianLink, Inc.

(Exact name of registrant as specified in its charter)


Delaware	001-40680	82-4844620
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

3560 Hyland Avenue, Suite 200

Costa Mesa, CA 92626

(Address of principal executive offices and Zip Code)

(714) 708-6950

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	MLNK	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On November 7, 2024, MeridianLink, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2024. A copy of this press release is furnished as Exhibit 99.1 and is incorporated by reference herein.

Item 7.01 Regulation FD Disclosure.

On November 7, 2024, the Company issued a press release announcing its financial results for the third quarter ended September 30, 2024. A copy of this press release is furnished as Exhibit 99.1 and is incorporated by reference herein.

The Company also furnishes herewith, as Exhibit 99.2, a presentation, dated November 2024, to be given to investors and others and made available on the Company's investor relations website at ir.meridianlink.com.

The information contained in this Item 2.02 and 7.01 of this Current Report on Form 8-K, including the Exhibit 99.1 and 99.2 attached hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.			Exhibit Description

99.1			Press Release dated November 7 , 2024 announcing the financial results for the third quarter ended September 30, 2024 .

99.2			Investor Presentation Materials.

104			Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	MERIDIANLINK, INC.
Date: November 7, 2024
	By:	/s/ Elias Olmeta
		Elias Olmeta
		Chief Financial Officer

Exhibit 99.1

MeridianLink Reports Third Quarter 2024 Results

Third quarter revenue of $80.4 million grows 5% year-over-year driven by lending software solutions revenue of $63.0 million, reflecting growth of 7% year-over-year

COSTA MESA, Calif., November 7, 2024 — MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, today announced financial results for the third quarter ended September 30, 2024.

“Our solid third quarter performance highlights our disciplined execution as a leading vertical SaaS company and proven ability to deliver durable growth,” said Nicolaas Vlok, chief executive officer of MeridianLink®. “While our performance is muted by the current macro environment, we have skilled teams that deliver an end-to-end, digital lending platform through MeridianLink® One and value-added partner integrations that continue to drive performance.”

Quarterly Financial Highlights:

•Revenue of $80.4 million, an increase of 5% year-over-year

•Lending software solutions revenue of $63.0 million, an increase of 7% year-over-year

•Operating income of $2.6 million, or 3% of revenue, and non-GAAP operating income of $18.0 million, or 22% of revenue

•Net loss of $(7.1) million, or (9)% of revenue, and adjusted EBITDA of $33.8 million, or 42% of revenue

•Cash flows from operations of $20.6 million, or 26% of revenue, and free cash flow of $18.7 million, or 23% of revenue

•MeridianLink returned $31.3 million to stockholders via 1.4 million of stock repurchases

Business and Operating Highlights:

•MeridianLink’s land and expand strategy generated solid demand from customers leaning into their digital progression, choosing both mortgage and consumer lending solutions to outcompete for consumers in an increasingly digital market.

•We announced the successful go-live of Broadway Bank, one of the largest privately-owned banks in Texas with more than $5.5 billion in assets, on MeridianLink® Mortgage, resulting in a decrease in their loan processing time by up to six days.

•In the quarter, we completed a secondary public offering of 6 million shares of common stock held by certain funds managed by Thoma Bravo, increasing our public float and providing greater liquidity for our stock, as well as attracting new investors.

Business Outlook

Based on information as of today, November 7, 2024, the Company issues fourth quarter financial guidance and updates full year 2024 financial guidance as follows:

Fourth Quarter Fiscal 2024:

•Revenue is expected to be in the range of $76.0 million to $80.0 million

•Adjusted EBITDA is expected to be in the range of $29.5 million to $32.5 million

Full Year 2024:

•Revenue is expected to be in the range of $313.0 million to $317.0 million

•Adjusted EBITDA is expected to be in the range of $127.0 million to $130.0 million

Conference Call Information

MeridianLink will hold a conference call to discuss its third quarter results today, November 7, 2024, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). The conference call can be accessed by dialing (800) 549-8228 from North America toll-free or the International number of (289) 819-1520 with Conference ID 58111. A live webcast of the conference call can be accessed from the investor relations page of MeridianLink’s website at ir.meridianlink.com. An archived replay of the webcast will be available at the same website following the conclusion of the call. A telephonic replay will be available until 8:59 p.m. Pacific Time (11:59 p.m. Eastern Time) on Thursday, November 14, 2024, by dialing (888) 660-6264 from North America or the International number of (289) 819-1325 with Playback Passcode 58111.

MeridianLink uses its investor relations website (https://ir.meridianlink.com), press releases, SEC filings, public conference calls and webcasts, blog posts on its website, as well as its social media channels, such as its LinkedIn page (www.linkedin.com/company/meridianlink), X (formerly Twitter) feed (@meridianlink), and Facebook page (www.facebook.com/MeridianLink/), as a means of disclosing material information and for complying with its disclosure obligations under Regulation FD. Information contained on or accessible through the websites is not incorporated by reference into this release, and links for these websites are inactive textual references only.

For More Information:

Press Contact

Sydney Wishnow

(508) 808-9060

meridianlinkPR@clyde.us

Investor Relations Contact

Gianna Rotellini

(714) 332-6357

InvestorRelations@meridianlink.com

About MeridianLink

MeridianLink® (NYSE: MLNK) empowers financial institutions and consumer reporting agencies to drive efficient growth. MeridianLink’s cloud-based digital lending, account opening, background screening, and data verification software solutions leverage shared intelligence from a unified data platform, MeridianLink® One, to enable customers of all sizes to identify growth opportunities, effectively scale up, and support compliance efforts, all while powering an enhanced experience for staff and consumers alike.

For more than 25 years, MeridianLink has prioritized the democratization of lending for consumers, businesses, and communities. Learn more at www.meridianlink.com.

Operational Measures Definitions

We reference bookings, which is an internal operational measure of the business. Bookings is defined as the total of the minimum annual contracted value for newly sold capabilities of our software-as-a-service, or SaaS, products over a given time period, inclusive of any corresponding vendor fees owed to Third Parties.

Non-GAAP Financial Measures

To supplement the financial measures presented in accordance with generally accepted accounting principles, or GAAP, we provide certain non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin; non-GAAP operating income (loss); non-GAAP net income (loss); non-GAAP cost of revenue; non-GAAP sales and marketing expenses; non-GAAP research and development expenses; non-GAAP general and administrative expenses; and free cash flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Rather, we believe that these non-GAAP financial measures, when viewed in addition to and not in lieu of our reported GAAP financial results, provide investors with additional meaningful information to assess our financial performance and trends, enable comparison of financial results between periods, and allow for greater transparency with respect to key metrics utilized internally in analyzing and operating our business. The following definitions are provided:

•Non-GAAP operating income (loss): GAAP operating income (loss), excluding the impact of share-based compensation, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, restructuring related costs, expenses related to debt modification, charges in connection with litigation unrelated to our core business, and expenses for services performed by a third party consultant relating to efforts to remediate our material weakness.

•Non-GAAP net income (loss): GAAP net income (loss), excluding the impact of share-based compensation, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, restructuring related costs, expenses related to debt modification, charges in connection with litigation unrelated to our core business, expenses for services performed by a third party consultant relating to efforts to remediate our material weakness, and the effect of income taxes, including the partial valuation allowance, on non-GAAP items. The effects of income taxes on non-GAAP items reflect a fixed long-term projected tax rate of 24%.

The Company employs a structural long-term projected non-GAAP income tax rate of 24% for greater consistency across reporting periods, eliminating effects of items not directly related to the Company's operating structure that may vary in size and frequency. This long-term projected non-GAAP income tax rate is determined by analyzing a mix of historical and projected tax filing positions, assumes no additional acquisitions during the projection period or include the impact from the partial deferred tax asset valuation allowance, and takes into account various factors, including the Company’s anticipated tax structure, its tax positions in different jurisdictions, and current impacts from key U.S. legislation where the Company operates. We will reevaluate this tax rate, as necessary, for significant events such as significant alterations in the U.S. tax environment, substantial changes in the Company’s geographic earnings mix due to acquisition activity, or other shifts in the Company’s strategy or business operations.

•Adjusted EBITDA: net income (loss) before interest expense, taxes, depreciation and amortization, share-based compensation expense, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, restructuring related costs, expenses related to debt modification, charges in connection with litigation unrelated to our core business, expenses for services performed by a third party consultant relating to efforts to remediate our material weakness, and deferred revenue reductions from purchase accounting for acquisitions prior to the adoption of ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which we early adopted on January 1, 2022 on a prospective basis. Deferred revenue from acquisitions prior to the adoption of ASU 2021-08 was recognized on a straight line basis through December 31, 2023.

•Non-GAAP cost of revenue: GAAP cost of revenue, excluding the impact of share-based compensation, employer payroll taxes on employee stock transactions, and amortization of developed technology.

•Non-GAAP operating expenses: GAAP operating expenses, excluding the impact of share-based compensation, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, expenses related to debt modification, charges in connection with litigation unrelated to our core business, expenses for services performed by a third party consultant relating to efforts to remediate our material weakness, and depreciation and amortization, as applicable.

•Free cash flow: GAAP cash flow from operating activities less GAAP purchases of property and equipment (Capital Expenditures) and capitalized costs related to developed technology (Capitalized Software).

Reconciliations to comparable GAAP financial measures are available in the accompanying schedules, which are posted as part of this earnings release on our website. No reconciliation is provided with respect to certain forward-looking non-GAAP financial measures as the GAAP measures are not accessible on a forward-looking basis. We cannot reliably predict all necessary components or their impact to reconcile such financial measures without unreasonable effort. The events necessitating a non-GAAP adjustment are inherently unpredictable and may have a significant impact on our future GAAP financial results.

Forward-Looking Statements

This release contains, and our above-referenced conference call and webcast will contain, statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Generally, these statements can be identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions, although not all forward-looking statements contain these identifying words. Further, statements describing our strategy, outlook, guidance, plans, intentions, or goals are also forward-looking statements. These forward-looking statements reflect our predictions, expectations, or forecasts, including, but not limited to, statements regarding, and guidance with respect to, our strategy, our future financial and operational performance, future economic and market conditions, our strategic initiatives, our leadership transition and plans, our stock repurchase programs, including the execution and amount of repurchases, the status of litigation matters, including expected or contemplated settlements,

associated timing, and estimated fees and expenses, our ability to retain and attract customers and product partners, the benefit to us and our customers of integrations with our product partners, our development or delivery of new or enhanced solutions and anticipated results of those solutions for our customers, our ability to effectively implement, integrate, and service our customers, our market size and growth opportunities, our competitive positioning, projected costs, technological capabilities and plans, and objectives of management. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks related to our business and industry, as well as those set forth in Item 1A. Risk Factors, or elsewhere, in our Annual Report on Form 10-K for the most recently ended fiscal year, any updates in our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K, and our other SEC filings. These forward-looking statements are based on reasonable assumptions as of the date hereof. The plans, intentions, or expectations disclosed in our forward-looking statements may not be achieved, and you should not rely upon forward-looking statements as predictions of future events. We undertake no obligation, other than as required by applicable law, to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Condensed Consolidated Balance Sheets

(unaudited)

(in thousands, except share and per share data)


	As of
	September 30, 2024		December 31, 2023

Assets
Current assets:
Cash and cash equivalents	$	82,266	$	80,441

Accounts receivable, net	38,868		32,412
Prepaid expenses and other current assets	12,309		11,574
Total current assets	133,443		124,427
Property and equipment, net	2,362		3,337
Right of use assets, net	639		1,140
Intangible assets, net	214,125		251,060

Goodwill	610,063		610,063
Other assets	7,311		6,224
Total assets	$	967,943	$	996,251

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	6,165	$	4,405
Accrued liabilities	31,914		30,673
Deferred revenue	29,767		17,224
Current portion of debt, net of debt issuance costs	3,773		3,542
Total current liabilities	71,619		55,844
Debt, net of debt issuance costs	466,137		420,004
Deferred tax liabilities, net	11,369		10,823
Long-term deferred revenue	160		792
Other long-term liabilities	336		541
Total liabilities	$	549,621	$	488,004
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $0.001 par value; 50,000,000 shares authorized; zero shares issued and outstanding at September 30, 2024 and December 31, 2023	—		—
Common stock, $0.001 par value; 600,000,000 shares authorized, 75,107,642 and 78,447,701 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	126		129
Additional paid-in capital	692,285		654,634
Accumulated deficit	(274,089)		(146,516)
Total stockholders’ equity	418,322		508,247
Total liabilities and stockholders’ equity	$	967,943	$	996,251

Condensed Consolidated Statements of Operations

(unaudited)

(in thousands, except share and per share data)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenues, net	$	80,369	$	76,488	$	236,861	$	229,038
Cost of revenues:
Subscription and services	22,790		22,488		67,507		69,973
Amortization of developed technology	4,860		4,524		14,392		13,488
Total cost of revenues	27,650		27,012		81,899		83,461
Gross profit	52,719		49,476		154,962		145,577
Operating expenses:
General and administrative	29,649		23,218		84,065		70,182
Research and development	10,019		11,248		29,409		36,814
Sales and marketing	10,492		9,441		32,495		26,212


Restructuring related costs	—		—		4,179		3,621

Total operating expenses	50,160		43,907		150,148		136,829
Operating income	2,559		5,569		4,814		8,748
Other (income) expense, net:
Interest and other income	(1,371)		(1,342)		(3,963)		(2,596)
Interest expense	10,165		9,780		29,544		28,127

Total other expense, net	8,794		8,438		25,581		25,531
Loss before income taxes	(6,235)		(2,869)		(20,767)		(16,783)
Provision for (benefit from) income taxes	816		(800)		1,260		(3,818)
Net loss	$	(7,051)	$	(2,069)	$	(22,027)	$	(12,965)




Net loss per share:
Basic	$	(0.09)	$	(0.03)	$	(0.29)	$	(0.16)
Diluted	$	(0.09)	$	(0.03)	$	(0.29)	$	(0.16)
Weighted average common stock outstanding:
Basic	75,631,670		81,073,915		76,495,022		80,883,310
Diluted	75,631,670		81,073,915		76,495,022		80,883,310

Net Revenues by Major Source

(unaudited)

(in thousands)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Subscription fees	$	67,344	$	64,613	$	199,202	$	194,788
Professional services	10,146		8,706		28,715		26,143
Other	2,879		3,169		8,944		8,107
Total	$	80,369	$	76,488	$	236,861	$	229,038

Net Revenues by Solution Type

(unaudited)

(in thousands)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Lending software solutions	$	63,005	$	58,949	$	185,552	$	172,728
Data verification software solutions	17,364		17,539		51,309		56,310
Total	$	80,369	$	76,488	$	236,861	$	229,038
% Growth attributable to:
Lending software solutions	5%				5%
Data verification software	—%				(2)%
Total % growth	5%				3%
___________

Percent Revenue Related to the Mortgage Loan Market

(unaudited)


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023
Lending software solutions	10%	12%	11%	12%
Data verification software	56%	57%	56%	60%
Total % revenue related to mortgage loan market	20%	22%	20%	24%

Condensed Consolidated Statements of Cash Flows

(unaudited)

(in thousands)


	Nine Months Ended September 30,
	2024		2023
Cash flows from operating activities:
Net loss	$	(22,027)	$	(12,965)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	43,689		43,388
Provision for expected credit losses	604		627
Amortization of debt issuance costs	747		897
Share-based compensation expense	34,683		22,216
Deferred income taxes	546		(4,507)
Loss on disposal of property and equipment	90		—




Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(7,060)		(1,726)
Prepaid expenses and other assets	(1,896)		(4,595)
Accounts payable	1,758		3,632
Accrued liabilities	944		(782)
Deferred revenue	11,911		9,301

Net cash provided by operating activities	63,989		55,486
Cash flows from investing activities:
Capitalized software additions	(5,483)		(7,004)
Purchases of property and equipment	(213)		(347)
Return of escrow deposit	—		30,000
Funds received in connection with former business combination	—		1,219

Acquisition, net of cash acquired – Beanstalk Networks LLC	—		326



Net cash (used in) provided by investing activities	(5,696)		24,194
Cash flows from financing activities:
Repurchases of common stock	(104,847)		(35,660)
Proceeds from exercise of stock options	4,728		1,633
Proceeds from employee stock purchase plan	944		793
Taxes paid related to net share settlement of restricted stock units	(2,910)		(1,403)
Principal payments of debt	(3,468)		(3,263)
Payments of deferred offering costs	(75)		—





Proceeds from debt	50,000		—
Payments of debt issuance costs	(840)		—




Net cash used in financing activities	(56,468)		(37,900)
Net increase in cash and cash equivalents	1,825		41,780
Cash and cash equivalents, beginning of period	80,441		55,780
Cash and cash equivalents, end of period	$	82,266	$	97,560


Supplemental disclosures of cash flow information:
Cash paid for interest	$	28,988	$	27,498
Cash paid for income taxes	455		2,610
Non-cash investing and financing activities:
Shares withheld with respect to net settlement of restricted stock units	2,910		1,403
Purchase price allocation adjustment for Beanstalk Networks LLC acquisition	—		757
Excise taxes payable included in repurchases of common stock	704		162
Share-based compensation expense included in capitalized software additions	206		219
Purchase price allocation adjustment related to income tax effects for StreetShares acquisition	—		245
Purchases of property and equipment included in accounts payable and accrued liabilities	46		611

Vesting of restricted stock awards and restricted stock units	2		4

Reconciliation from GAAP to Non-GAAP Results

(unaudited)

(in thousands, except share and per share data)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023

Operating income	$	2,559	$	5,569	$	4,814	$	8,748
Add: Share-based compensation expense	14,254		8,322		34,690		22,879
Add: Employer payroll taxes on employee stock transactions	301		150		1,231		598
Add: Expenses associated with public offering	416		—		2,114		—
Add: Litigation-related charges(1)	—		—		1,864		—
Add: Expenses related to debt modification	—		—		473		—
Add: Restructuring related costs(2)	—		—		4,179		3,621
Add: Expenses associated with material weakness remediation(3)	507		—		507		—
Non-GAAP operating income	$	18,037	$	14,041	$	49,872	$	35,846
Operating margin	3%		7%		2%		4%
Non-GAAP operating margin	22%		18%		21%		16%

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023

Net loss	$	(7,051)	$	(2,069)	$	(22,027)	$	(12,965)
Add: Share-based compensation expense	14,254		8,322		34,690		22,879
Add: Employer payroll taxes on employee stock transactions	301		150		1,231		598
Add: Expenses associated with public offering	416		—		2,114		—
Add: Litigation-related charges(1)	(172)		—		1,692		—
Add: Expenses related to debt modification	—		—		473		—
Add: Restructuring related costs(2)	—		—		4,179		3,621
Add: Expenses associated with material weakness remediation(3)	507		—		507		—


Subtract: Income tax effect on non-GAAP items(4)	(3,673)		(2,033)		(10,773)		(6,504)
Non-GAAP net income(4)	$	4,582	$	4,370	$	12,086	$	7,629
Non-GAAP basic net income per share	$	0.06	$	0.05	$	0.16	$	0.09
Non-GAAP diluted net income per share	$	0.06	$	0.05	$	0.15	$	0.09
Weighted average shares used to compute Non-GAAP basic net income per share	75,631,670		81,073,915		76,495,022		80,883,310
Weighted average shares used to compute Non-GAAP diluted net income per share	79,373,207		83,716,804		79,961,158		83,331,901
Net loss margin	(9)%		(3)%		(9)%		(6)%
Non-GAAP net income margin	6%		6%		5%		3%

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023

Net loss	$	(7,051)	$	(2,069)	$	(22,027)	$	(12,965)
Interest expense	10,165		9,780		29,544		28,127
Taxes	816		(800)		1,260		(3,818)
Depreciation and amortization	14,593		14,433		43,689		43,388
Share-based compensation expense	14,254		8,322		34,690		22,879
Employer payroll taxes on employee stock transactions	301		150		1,231		598

Expenses associated with public offering	416		—		2,114		—
Litigation-related charges(1)	(172)		—		1,692		—
Expenses related to debt modification	—		—		473		—
Restructuring related costs(2)	—		—		4,179		3,621
Expenses associated with material weakness remediation(3)	507		—		507		—


Deferred revenue reduction from purchase accounting for acquisitions prior to 2022	—		19		—		58


Adjusted EBITDA	$	33,829	$	29,835	$	97,352	$	81,888
Net loss margin	(9)%		(3)%		(9)%		(6)%
Adjusted EBITDA margin	42%		39%		41%		36%

(1) Litigation-related charges pertains to litigation settlements and related legal fees. During the nine months ended September 30, 2024, we incurred $1.5 million related to estimated settlements of class action lawsuits and $0.4 million related to third-party legal fees directly related to the settlements. During the three months ended September 30, 2024, we recognized $0.2 million gain on a favorable litigation settlement. The gain was recognized in interest and other income on our condensed consolidated statements of operations.

(2) Restructuring related costs for the nine months ended September 30, 2024 and 2023 are inclusive of net acceleration (forfeitures) of share-based compensation associated with restructuring in the amount of $0.0 million and ($0.7 million), respectively.

(3) Expenses for services performed by a third party consultant related to efforts to remediate our previously identified material weakness.

(4) The amounts presented for the periods ended September 30, 2023 in our reconciliation of net loss to Non-GAAP net income are corrected from our previously disclosed Non-GAAP net income for those periods. The previously disclosed income tax effects on non-GAAP items for the periods ended September 30, 2023 were inadvertently expressed as positive numbers, where such figures should have been expressed as negative numbers.

Reconciliation from GAAP to Non-GAAP Results

(unaudited)

(in thousands)


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Cost of revenue	$	27,650	$	27,012	$	81,899	$	83,461
Less: Share-based compensation expense	1,252		910		3,397		2,919
Less: Employer payroll taxes on employee stock transactions	55		26		200		135
Less: Amortization of developed technology	4,860		4,524		14,392		13,488
Non-GAAP cost of revenue	$	21,483	$	21,552	$	63,910	$	66,919
Cost of revenue as a % of revenue	34%		35%		35%		36%
Non-GAAP cost of revenue as a % of revenue	27%		28%		27%		29%


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
General and administrative	$	29,649	$	23,218	$	84,065	$	70,182
Less: Share-based compensation expense	8,502		4,443		19,687		11,938
Less: Employer payroll taxes on employee stock transactions	118		59		460		217
Less: Expenses associated with public offering	416		—		2,114		—
Less: Litigation-related charges	—		—		1,864		—
Less: Expenses related to debt modification	—		—		473		—
Less: Expenses associated with material weakness remediation	507		—		507		—
Less: Depreciation expense	326		490		1,065		1,480
Less: Amortization of intangibles	9,407		9,419		28,232		28,420
Non-GAAP general & administrative	$	10,373	$	8,807	$	29,663	$	28,127
General and administrative as a % of revenue	37%		30%		35%		31%
Non-GAAP general and administrative as a % of revenue	13%		12%		13%		12%


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Research and development	$	10,019	$	11,248	$	29,409	$	36,814
Less: Share-based compensation expense	2,630		1,709		6,663		5,368
Less: Employer payroll taxes on employee stock transactions	77		38		323		163
Non-GAAP research and development	$	7,312	$	9,501	$	22,423	$	31,283
Research and development as a % of revenue	12%		15%		12%		16%
Non-GAAP research and development as a % of revenue	9%		12%		9%		14%


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Sales and marketing	$	10,492	$	9,441	$	32,495	$	26,212
Less: Share-based compensation expense	1,870		1,260		4,943		2,654
Less: Employer payroll taxes on employee stock transactions	51		27		248		83
Non-GAAP sales and marketing	$	8,571	$	8,154	$	27,304	$	23,475
Sales and marketing as a % of revenue	13%		12%		14%		11%
Non-GAAP sales and marketing as a % of revenue	11%		11%		12%		10%


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net cash provided by operating activities	$	20,595	$	21,301	$	63,989	$	55,486
Less: Capitalized software	1,799		2,442		5,483		7,004
Less: Capital expenditures	61		42		213		347
Free cash flow	$	18,735	$	18,817	$	58,293	$	48,135
Net cash provided by operating actives as a % of revenue	26%		28%		27%		24%
Free cash flow as a % of revenue	23%		25%		25%		21%

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. Forward-Looking Statements and Disclaimers 2 Information in this presentation and the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. All statements other than statements of historical fact included in this presentation and the accompanying oral presentation, including statements regarding, and guidance with respect to, our strategy, future operations, financial position, projected costs, our future financial and operational performance, prospects, market size and growth opportunities, future economic conditions, competitive position, strategic initiatives, development or delivery of new or enhanced solutions, technological capabilities, plans, and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. These forward-looking statements reflect our predictions, expectations, or forecasts. Actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks related to economic and market conditions, including interest rate fluctuations; our ability to retain and attract customers; our ability to expand and evolve our offerings, features, and functionalities or respond to rapid technological changes; our ability to identify and integrate strategic initiatives; our leadership transition and plans; our realignment plan, including expected associated timing, benefits, and costs; our stock repurchase programs, including the execution and amount of repurchases; our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; the status of litigation matters, including expected or contemplated settlements, associated timing, and estimated fees and expenses; our ability to compete in a highly-fragmented and competitive landscape; market demand for our products and solutions; our ability to effectively implement, integrate, and service our customers; our ability to retain and attract product partners; the benefit to us and our customers of integrations with our product partners; our commercial disputes, including potential losses related thereto; our future financial performance, including, but not limited to, trends in revenue, costs of revenue, gross profit or gross margin, operating expenses, and number of customers; and our high levels of indebtedness; as well as those set forth in Item 1A. Risk Factors, or elsewhere, in our Annual Report on Form 10-K for the most recently ended fiscal year, any updates in our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K, and our other SEC filings. These forward-looking statements are based on reasonable assumptions as of the date hereof. The plans, intentions, or expectations disclosed in our forward-looking statements may not be achieved, and you should not rely upon forward-looking statements as predictions of future events. We undertake no obligation, other than as required by applicable law, to update any forward-looking statements, whether as a result of new information, future events, or otherwise. Information in this presentation and the accompanying oral presentation, including any statements regarding MeridianLink’s customer data and other metrics, is based on data and analyses from various sources as of December 31, 2023, unless otherwise indicated. This presentation contains statistical data, estimates, and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation. MeridianLink uses its investor relations website (https://ir.meridianlink.com), press releases, SEC filings, public conference calls and webcasts, blog posts on its website, as well as its social media channels, such as its LinkedIn page (www.linkedin.com/company/meridianlink), X (formerly Twitter) feed (@meridianlink), and Facebook page (www.facebook.com/MeridianLink/), as a means of disclosing material information and for complying with its disclosure obligations under Regulation FD. Information contained on or accessible through the websites is not incorporated by reference into this presentation, and links for these websites are inactive textual references only. Copyright Notice: All copyrightable text and graphics, the selection, arrangement, and presentation of all materials (including information in the public domain) are ©2024 MeridianLink, Inc. All rights reserved. This presentation includes trademarks, which are protected under applicable intellectual property laws and are the property of MeridianLink, Inc. or its subsidiaries. This presentation may also contain trademarks, service marks, copyrights, and trade names of other companies, which are the property of their respective owners and are used for reference purposes only. Such use should not be construed as an endorsement of the platform and products of MeridianLink. Solely for convenience, trademarks and trade names may appear without the ® or symbols, but such references are not intended to indicate that, with respect to our intellectual property, we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks and trade names.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 3 Q3’24 in Review • Delivered solid Q3 results driven by ACV release • Adj. EBITDA margin of 42% exceeded expectations as we proactively managed spend in an uncertain environment • Strengthened management team with promotion of Larry Katz to President and onboarding of Elias Olmeta to CFO • Continued execution of “land and expand” strategy as customers choose MeridianLink® One for their digital transformation • Multiple high-value cross-sell deals across consumer and mortgage • Steady roster of new logos selected multiple modules on our configurable MeridianLink One platform • Returned $31.3M to stockholders via stock repurchases

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 4 Q3 2024 Financial Highlights Solid third quarter results against continued challenging macro backdrop Adjusted EBITDA, Adjusted Gross Profit, and Free Cash Flow are non-GAAP measures. For a definition and reconciliation of non-GAAP measures, please refer to the Appendix. YoY growth represents year-over-year growth from Q3’23 to Q3’24. (1) Adj. gross profit is calculated by subtracting non-GAAP cost of revenue from net revenues. Adj. gross margin represents adj. gross profit as a percentage of revenues. (2) Adj. EBITDA margin represents adj. EBITDA as a percentage of revenues. (3) Free cash flow margin represents free cash flow as a percentage of revenues. $80.4M Total Revenue 5% YoY growth 23% Free Cash Flow Margin(3) (129)bps YoY growth 73% Adj. Gross Margin(1) 145bps YoY growth 42% Adj. EBITDA Margin(2) 309bps YoY growth GROWTH & SCALE ATTRACTIVE MARGIN AND CASH FLOW PROFILE

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 5 Q3 2024 Business & Operating Highlights NEW LOGO WINSCROSS-SELL MOMENTUM PLATFORM ROI E X I S T I N G MeridianLink One Credit Union Customer with $750M A U M Debt Optimization solution The implementation of MeridianLink® Mortgage enabled centralization of loan operations on MeridianLink One and reduced its loan processing time by up to six days 6 DAYS $370M AUM new logo credit union customer chose five modules in the initial sale to embrace its digital transformation with one platform Personal Credit Card VehicleAccount Opening Indirect Lending This customer consolidated five disparate mortgage systems onto one solution. Across mortgage and consumer, this customer now has six modules in total on MeridianLink One 6 MODULES

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. % Mortgage $8 $8 $10 $10 Q3'23A Q3'24A 56%57% $18 $17 $52 $56 $7 $7 Q3'23A Q3'24A 10%12% $59 $63 $65 $67 $9 $10 $3 $3 Q3'23A Q3'24A 84%84% $76 $80 6 Q3 2024 Revenue Drivers Revenue by Source ($ millions) % Subscription Professional Services OtherSubscription Fees Lending Software Solutions Data Verification Software Solutions % Mortgage MortgageNon-Mortgage MortgageNon-Mortgage Revenue by Solution Type Note: Financial data as of the three months ended September 30th, 2023 or September 30th, 2024 as noted. Subtotals may not add to totals due to rounding.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. $52 $55 $58 $56 $59 $59 $61 $62 $63 $49 $49 $51 $48 $52 $52 $54 $55 $56 Q3 2022A Q4 2022A Q1 2023A Q2 2023A Q3 2023A Q4 2023A Q1 2024A Q2 2024A Q3 2024A 7 Lending Solutions Growing High Single-Digits at Scale Lending Software Solutions Revenue Non-Mortgage Lending Software Solutions Revenue % YoY Non-Mortgage Lending Software Solutions Revenue Growth¹ ($ millions) (1) YoY Growth is calculated as the quarter financial performance divided by financial performance of the same quarter in the prior year. % YoY Lending Software Solutions Revenue Growth¹ 21% 23% 13% 1% 6% 5% 6% 14% 17% 26% 18% 8% 12% 8% 5% 11% 9% 7%

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. $30 $34 39% 42% Q3'23A Q3'24A $55 $59 72% 73% Q3'23A Q3'24A 8 Attractive Margin Profile Driven by Cost Discipline Adj. Gross Profit ($ millions) Adj. EBITDA ($ millions) Adj. EBITDA Adj. EBITDA Margin Note: Adj. gross profit and adj. EBITDA are non-GAAP measures. Adj. gross profit is calculated by subtracting non-GAAP cost of revenue from net revenues. Adj. gross profit margin represents adj. gross profit as a percentage of revenues. Adj. EBITDA margin represents adj. EBITDA as a percentage of revenues. For a definition and reconciliation of non-GAAP cost of revenue and adj. EBITDA, please refer to the Appendix. Adj. Gross Profit Adj. Gross Profit Margin $111 $113 39% 37% FY2022A FY2023A $202 $217 70% 72% FY2022A FY2023A

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. $9 $10 12% 13% Q3'23A Q3'24A $10 $7 12% 9% Q3'23A Q3'24A $8 $9 11% 11% Q3'23A Q3'24A $35 $36 12% 12% FY2022A FY2023A 9 Investing in Future Growth & Transformation Non-GAAP Research & DevelopmentNon-GAAP Sales & Marketing ($ millions)($ millions) S&M % of Revenue R&D % of Revenue Note: For a definition and reconciliation of non-GAAP operating expenses, please refer to the Appendix. Non-GAAP General & Administrative ($ millions) G&A % of Revenue $21 $32 7% 11% FY2022A FY2023A $36 $40 13% 13% FY2022A FY2023A

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. $19 $19 25% 23% Q3'23A Q3'24A $14 $18 18% 22% Q3'23A Q3'24A Note: Non-GAAP operating income and Free Cash Flow are non-GAAP measures. Non-GAAP operating margin represents non-GAAP operating income as a percentage of revenues. Free Cash Flow margin represents Free Cash Flow as a percentage of revenues. For a definition and reconciliation of non-GAAP operating income and Free Cash Flow, please refer to the Appendix. 10 Strong Operating Income & Free Cash Flow Conversion Non-GAAP Operating Income Free Cash Flow ($ millions) Non-GAAP Operating Income Non-GAAP Operating Margin Free Cash Flow Free Cash Flow Margin ($ millions) $56 $51 19% 17% FY2022A FY2023A $65 $58 23% 19% FY2022A FY2023A

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 11 Guidance Update Guidance Update Three Months Ended December 31, 2024 Year Ended December 31, 2024 ($ in thousands) Q4 2023A Low (Estimated) High (Estimated) 2023A Low (Estimated) High (Estimated) Revenue $74,579 $76,000 $80,000 $303,617 $313,000 $317,000 % Growth 6% 2% 7% 5% 3% 4% Adj. EBITDA(1) 31,102 29,500 32,500 112,990 127,000 130,000 % Growth 34% (5)% 4% 2% 12% 15% % Margin(1) 42% 39% 41% 37% 41% 41% Note: This financial information has been prepared by and is the responsibility of our management. Our independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to this preliminary financial data or the accounting treatment thereof and does not express an opinion or any other form of assurance with respect thereto. (1) Adj. EBITDA is a non-GAAP measure. Adj. EBITDA margin represents Adj. EBITDA as a percentage of revenues. No reconciliation is provided with respect to certain forward-looking non-GAAP financial measures as the GAAP measures are not accessible on a forward-looking basis. We cannot reliably predict all necessary components or their impact to reconcile such financial measures without unreasonable effort.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 13 Q3 2024 Performance ($ in thousands) Q3 2023A Q3 2024A Delta Consolidated Statements of Operations Data Revenue $76,488 $80,369 $3,881 Gross profit 49,476 52,719 3,243 % Gross margin 64.7% 65.6% 0.9% Net (loss) (2,069) (7,051) (4,982) % Net (loss) margin (2.7)% (8.8)% (6.1)% Non-GAAP Financial Data Adj. EBITDA(1) 29,835 33,829 3,994 % Adj. EBITDA margin(1) 39.0% 42.1% 3.1% Free cash flow(2) 18,817 18,735 (82) % Free cash flow margin(2) 24.6% 23.3% (1.3)% Note: This financial information has been prepared by and is the responsibility of our management. Our independent registered public accounting firm has not audited, reviewed or performed any procedures with respect to this preliminary financial data or the accounting treatment thereof and does not express an opinion or any other form of assurance with respect thereto. (1) Adj. EBITDA is a non-GAAP measure. Adj. EBITDA margin represents Adj. EBITDA as a percentage of revenues. For a definition and reconciliation of Adj. EBITDA, please refer to the Appendix. (2) Free cash flow is a non-GAAP measure. Free cash flow margin represents free cash flow as a percentage of revenues. For a definition and reconciliation of free cash flow, please refer to the Appendix.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED.©2024 MERIDIA LINK, INC. ALL IGHTS RESERVED. Non-GAAP Financial Measures 14 To supplement the financial measures presented in accordance with United States generally accepted accounting principles, or GAAP, we provide certain non-GAAP financial measures, such as adjusted EBITDA and adjusted EBITDA margin; non-GAAP operating income (loss); non-GAAP net income (loss); non-GAAP cost of revenue; non-GAAP sales and marketing expenses; non-GAAP research and development expenses; non-GAAP general and administrative expenses; and Free Cash Flow. The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Rather, we believe that these non-GAAP financial measures, when viewed in addition to and not in lieu of our reported GAAP financial results, provide investors with additional meaningful information to assess our financial performance and trends, enable comparison of financial results between periods, and allow for greater transparency with respect to key metrics utilized internally in analyzing and operating our business. The following definitions are provided: • Non-GAAP operating income (loss): GAAP operating income (loss), excluding the impact of share-based compensation, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, restructuring related costs, expenses related to debt modification, charges in connection with litigation unrelated to our core business, and expenses for services performed by a third party consultant relating to efforts to remediate our material weakness. • Adjusted EBITDA: net income (loss) before interest expense, taxes, depreciation and amortization, share-based compensation expense, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, restructuring related costs, expenses related to debt modification, charges in connection with litigation unrelated to our core business, expenses for services performed by a third party consultant relating to efforts to remediate our material weakness, and deferred revenue reductions from purchase accounting for acquisitions prior to the adoption of ASU 2021-08, “Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers,” which we early adopted on January 1, 2022 on a prospective basis. Deferred revenue from acquisitions prior to the adoption of ASU 2021-08 was recognized on a straight line basis through December 31, 2023.Non-GAAP cost of revenue: GAAP cost of revenue, excluding the impact of share-based compensation, employer payroll taxes on employee stock transactions, and amortization of developed technology. • Non-GAAP operating expenses: GAAP operating expenses, excluding the impact of share-based compensation, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, expenses related to debt modification, charges in connection with litigation unrelated to our core business, expenses for services performed by a third party consultant relating to efforts to remediate our material weakness, and depreciation and amortization, as applicable. • Free cash flow: GAAP cash flow from operating activities less GAAP purchases of property and equipment (Capital Expenditures) and capitalized costs related to developed technology (Capitalized Software). Reconciliations to comparable GAAP financial measures are available in the accompanying schedules, which are included in the Appendix of this presentation. No reconciliation is provided with respect to certain forward-looking non-GAAP financial measures as the GAAP measures are not accessible on a forward-looking basis. We cannot reliably predict all necessary components or their impact to reconcile such financial measures without unreasonable effort. The events necessitating a non-GAAP adjustment are inherently unpredictable and may have a significant impact on our future GAAP financial results.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 15 Financial Reconciliations ($ in thousands) 2022A 2023A Q3’23A Q3’24A Reconciliation of Net Income (Loss) to Adjusted EBITDA(1) Net income (loss) $1,294 ($42,539) ($2,069) ($7,051) (+) Interest expense, net 24,227 38,158 9,780 10,165 (+/-) Tax expense (benefit)3 4,130 23,943 (800) 816 (+) Depreciation & amortization 53,982 57,829 14,433 14,593 (+) Share-based compensation expense 22,761 31,213 8,322 14,254 (+) Employer payroll taxes on employee stock transactions 350 687 150 301 (+) Expenses associated with public offering – – – 416 (+) Litigation-related charges4 – – – (172) (+) Restructuring related costs5 – 3,621 – – (+) Material weakness remediation6 – – – 507 (+) Sponsor and third-party acquisition related costs 4,228 – – – (+) Deferred revenue reduction from purchase accounting for acquisitions prior to 2022 227 78 19 – Adjusted EBITDA(1) $111,199 $112,990 $29,835 $33,829 Net income (loss) margin 0% (14)% (3)% (9)% Adjusted EBITDA margin(2) 39% 37% 39% 42% Non-GAAP Adjusted EBITDA(1) (1) We define Adj. EBITDA as net income (loss) before interest expense, taxes, depreciation and amortization, share-based compensation expense, employer payroll taxes on employee stock transactions, expenses associated with our secondary offering, restructuring related costs, expenses related to debt modification, charges in connection with litigation unrelated to our core business, and deferred revenue reductions from purchase accounting. (2) Adj. EBITDA margin represents Adj. EBITDA as a percentage of revenues. (3) Taxes reflects a one-time non-cash tax expense of $29.4 million recorded during the quarter ended December 31, 2023, for the recognition of a partial valuation allowance on certain deferred tax assets. (4) Litigation-related charges pertains to litigation settlements and related legal fees. During the nine months ended September 30, 2024, we incurred $1.5 million related to estimated settlements of class action lawsuits and $0.4 million related to third- party legal fees directly related to the settlements. During the three months ended September 30, 2024, we recognized $0.2 million gain on a favorable litigation settlement. The gain was recognized in interest and other income on our condensed consolidated statements of operations. (5) Restructuring related costs for the year ended December 31, 2023 is inclusive of net acceleration (forfeitures) of share-based compensation associated with restructuring in the amount of $(663) thousand. (6) Expenses for services performed by a third party consultant related to efforts to remediate our previously identified material weakness.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 16 Financial Reconciliations (Cont’d) ($ in thousands) 2022A 2023A Q3’23A Q3’24A Revenues, net $288,046 $303,617 $76,488 $80,369 Cost of revenue 106,331 108,491 27,012 27,650 (-) Share-based compensation expense 4,630 3,848 910 1,252 (-) Employer payroll taxes on employee stock transactions 127 157 26 55 (-) Amortization of developed technology 15,553 18,129 4,524 4,860 Non-GAAP cost of revenue 86,021 86,357 21,552 21,483 Adjusted gross profit $202,025 $217,260 $54,936 $58,886 GAAP gross margin 63% 64% 65% 66% Adjusted gross margin 70% 72% 72% 73% Adjusted Gross Profit ($ in thousands) 2022A 2023A Q3’23A Q3’24A Operating income (loss) $28,588 $15,533 $5,569 $2,559 (+) Share-based compensation expense 22,761 31,213 8,322 14,254 (+) Employer payroll taxes on employee stock transactions 350 687 150 301 (+) Expenses associated with public offering – – – 416 (+) Sponsor and third-party acquisition related costs 4,228 – – – (+) Restructuring related costs(1) – 3,621 – – (+) Material weakness remediation(2) – – – 507 Non-GAAP operating income $55,927 $51,054 $14,041 $18,037 GAAP operating margin 10% 5% 7% 3% Non-GAAP operating margin 19% 17% 18% 22% Non-GAAP Operating Income Note: Adj. gross profit is a non-GAAP Measure. Adj. gross profit is calculated by subtracting non-GAAP cost of revenue from net revenues. Adj. gross profit margin represents adj. gross profit as a percentage of revenues. (1) Restructuring related costs for the year ended December 31, 2023 is inclusive of net acceleration (forfeitures) of share-based compensation associated with restructuring in the amount of $(663) thousand. (2) Expenses for services performed by a third party consultant related to efforts to remediate our previously identified material weakness.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 17 Financial Reconciliations (Cont’d) ($ in thousands) 2022A 2023A Q3’23A Q3’24A Sales and marketing $23,658 $35,792 $9,441 $10,492 (-) Share-based compensation expense 2,160 3,849 1,260 1,870 (-) Employer payroll taxes on employee stock transactions 40 95 27 51 Non-GAAP sales and marketing $21,458 $31,848 $8,154 $8,571 GAAP sales and marketing as a % of revenue 8% 12% 12% 13% Non-GAAP sales and marketing as a % of revenue 7% 10% 11% 11% Non-GAAP Sales and Marketing Expense ($ in thousands) 2022A 2023A Q3’23A Q3’24A Research and development $42,592 $47,517 $11,248 $10,019 (-) Share-based compensation expense 6,472 7,060 1,709 2,630 (-) Employer payroll taxes on employee stock transactions 102 189 38 77 Non-GAAP research and development $36,018 $40,268 $9,501 $7,312 GAAP research and development as a % of revenue 15% 16% 15% 12% Non-GAAP research and development as a % of revenue 13% 13% 12% 9% Non-GAAP Research and Development Expense ($ in thousands) 2022A 2023A Q3’23A Q3’24A General and administrative $82,649 $92,663 $23,218 $29,649 (-) Share-based compensation expense 9,499 16,456 4,443 8,502 (-) Employer payroll taxes on employee stock transactions 81 246 59 118 (-) Expenses associated with public offering – – – 416 (-) Material weakness remediation(1) – – – 507 (-) Depreciation expense 2,319 1,860 490 326 (-) Amortization of intangibles 36,110 37,840 9,419 9,407 Non-GAAP general and administrative $34,640 $36,261 $8,807 $10,373 GAAP general and administrative as a % of revenue 29% 31% 30% 37% Non-GAAP general and administrative as a % of revenue 12% 12% 12% 13% Non-GAAP General and Administrative Expense (1) Expenses for services performed by a third party consultant related to efforts to remediate our previously identified material weakness.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 18 Balance Sheet Highlights ($ in thousands) 2022A 2023A Q3’24A Total current assets $128,132 $124,427 $133,443 Property and equipment, net 4,245 3,337 2,362 Intangible assets, net 297,475 251,060 214,125 Goodwill 608,657 610,063 610,063 Other assets 20,648 7,364 7,950 Total assets $1,059,157 $996,251 $967,943 Total current liabilities $54,199 $55,844 $71,619 Long-term debt, net of debt issuance costs 423,404 420,004 466,137 Other liabilities 2,463 12,156 11,865 Total liabilities $480,066 $488,004 $549,621 Total stockholders’ equity 579,091 508,247 418,322 Total liabilities and stockholders’ equity $1,059,157 $996,251 $967,943

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 19 FCF & Net Leverage ($ in thousands) 2022A 2023A Q3’23A Q3’24A 2021 Term loan $431,738 $427,388 $428,475 $473,919 (-) Debt issuance costs 4,829 3,842 4,006 4,009 (-) Cash and cash equivalents 55,780 80,441 97,560 82,266 Net Leverage $371,129 $343,105 $326,909 $387,644 LTM Adjusted EBITDA 111,199 112,990 105,059 128,454 Leverage multiple 3.3x 3.0x 3.1x 3.0x ($ in thousands) 2022A 2023A Q3’23A Q3’24A Net cash provided by operating activities $74,587 $67,964 $21,301 $20,595 (-) Capital expenditures 1,136 943 42 61 (-) Capitalized software 8,228 9,250 2,442 1,799 Non-GAAP free cash flow $65,223 $57,771 $18,817 $18,735 Net cash provided by operating activities as a % of revenue 26% 22% 28% 26% Free cash flow as a % of revenue 23% 19% 25% 23% Free Cash Flow Net Leverage

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 20 Financial Supplement Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Lending software solutions $195.5 $193.7 $ 191.1 $189.2 $188.1 $186.4 $185.5 $182.3 $166.2 Data verification software solutions $63.8 $63.6 $ 65.3 $68.4 $69.3 $71.3 $73.4 $77.1 $81.8 Total $259.3 $257.3 $ 256.4 $257.5 $257.4 $257.7 $258.9 $259.4 $248.1 Annual Recurring Revenue (ARR)¹ Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Lending software solutions 101.9% 101.9% 101.1% 101.4% 106.0% 108.9% 113.3% 113.1% 109.1% Data verification software solutions 92.0% 89.9% 90.3% 88.5% 84.3% 83.5% 84.0% 87.0% 89.9% Total 99.2% 98.6% 98.1% 97.5% 98.8% 100.0% 102.6% 103.4% 101.8% Net Retention Rate² Organic Customer Growth Rate4 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Lending software solutions 1,531 1,544 1,555 1,567 1,588 1,594 1,603 1,606 1,519 Data verification software solutions 430 430 430 429 435 436 430 427 431 Total 1,961 1,974 1,985 1,996 2,023 2,030 2,033 2,033 1,950 Total Customer³ Count Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Lending software solutions (3.6)% (3.1%) (3.0)% (2.4)% (0.9)% 0.1% 1.5% 2.8% 3.3% Data verification software solutions (1.1)% (1.4%) 0.0% 0.5% 0.9% 2.1% 1.9% 0.5% 0.0% Total (3.1)% (2.8%) (2.4)% (1.8)% (0.5)% 0.5% 1.6% 2.3% 2.5% (1) Annual Recurring Revenue, or ARR, is calculated as the total subscription fee revenues calculated in the latest twelve-month measurement period for those revenue-generating entities in place throughout the entire twelve-month measurement period plus the subscription fee revenues calculated on an annualized basis from new entity activations in the measurement period. (2) ARR Net Retention Rate is calculated as the total ARR in the latest twelve-month period from the revenue-generating entities in place as of the prior-year period, expressed as a percentage of the total ARR for the prior-year period from the same cohort of entities. (3) Customer defined as a legal entity that has a contractual relationship with us to use our software solutions. (4) Organic Customer Growth Rate is the percentage increase in the number of total customers on the last day of the measurement period compared to the number of total customers on the day twelve months prior to the measurement date, which measures the change in total customers, net of both customer terminations and customer additions between the respective measurement periods.

Cover	Nov. 07, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Nov. 07, 2024
Entity Registrant Name	MeridianLink, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40680
Entity Tax Identification Number	82-4844620
Entity Address, Address Line One	3560 Hyland Avenue, Suite 200
Entity Address, City or Town	Costa Mesa
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92626
City Area Code	714
Local Phone Number	708-6950
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MLNK
Security Exchange Name	NYSE
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001834494
Amendment Flag	false