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): August 8, 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 August 8, 2024, MeridianLink, Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended June 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 August 8, 2024, the Company issued a press release announcing its financial results for the second quarter ended June 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 August 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 August 8, 2024 announcing the financial results for the second quarter ended June 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: August 8, 2024
	By:	/s/ Laurence E. Katz
		Laurence E. Katz
		Chief Financial Officer

Exhibit 99.1

MeridianLink Reports Second Quarter 2024 Results

Second quarter revenue of $78.7 million grows 4% year-over-year driven by lending software solutions revenue of $61.6 million, reflecting growth of 11% year-over-year

COSTA MESA, Calif., August 8, 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 second quarter ended June 30, 2024.

“Our second quarter performance highlights the resilience of our business model, continued demand for MeridianLink® One, and our disciplined execution as a leading vertical SaaS company,” said Nicolaas Vlok, chief executive officer of MeridianLink®. “Our lending software solutions continue to perform well in the face of macroeconomic headwinds due to the power of our platform. New and existing customers continue to partner with MeridianLink to execute a digital lending strategy that wins in the market.”

Quarterly Financial Highlights:

•Revenue of $78.7 million, an increase of 4% year-over-year

•Lending software solutions revenue of $61.6 million, an increase of 11% year-over-year

•Operating loss of $(1.1) million, or (1)% of revenue, and non-GAAP operating income of $15.5 million, or 20% of revenue

•Net loss of $(9.7) million, or (12)% of revenue, and adjusted EBITDA of $31.8 million, or 40% of revenue

•Cash flows from operations of $14.4 million, or 18% of revenue, and free cash flow of $12.4 million, or 16% of revenue

•MeridianLink returned $29.9 million to stockholders via 1.6 million of stock repurchases

Business and Operating Highlights:

•MeridianLink named Larry Katz President of the Company and will welcome Elias Olmeta as our new Chief Financial Officer on August 26, 2024. Mr. Katz will continue to serve as Chief Financial Officer until Mr. Olmeta starts. With these leadership changes, we are enhancing our industry expertise and aligning our customer-facing organization to further scale the business.

•New and existing customers chose MeridianLink One to enhance their lending solutions, including a MeridianLink® Consumer customer who adopted MeridianLink® Mortgage, Mortgage Access, and our Debt Optimization solution.

•MeridianLink announced 3Rivers Federal Credit Union’s successful go-live on MeridianLink® Access and Opening, resulting in a significant decrease in loan application times.

•We enhanced our product capabilities through a new integration between MeridianLink® Insight and Collect that provides customers with advanced analytics to run their businesses, including a new payment propensity index.

•To offer our customers innovative AI capabilities, we partnered with Conductiv, a leader in providing missing, permissioned data to meet underwriting guidelines, helping customers achieve up to a 47% increase in approval rates without increasing losses.

Business Outlook

Based on information as of today, August 8, 2024, the Company issues third quarter financial guidance and updates full year 2024 financial guidance as follows:

Third Quarter Fiscal 2024:

•Revenue is expected to be in the range of $78.0 to $81.0

•Adjusted EBITDA is expected to be in the range of $30.0 to $33.0

Full Year 2024:

•Revenue is expected to be in the range of $312.0 to $318.0

•Adjusted EBITDA is expected to be in the range of $123.0 to $128.0

Conference Call Information

MeridianLink will hold a conference call to discuss its second quarter results today, August 8, 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 49245. 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, August 15, 2024, by dialing (888) 660-6264 from North America or the International number of (289) 819-1325 with Playback Passcode 49245.

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.

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 sponsor and third-party acquisition-related costs.

•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, 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, 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, expenses related to debt modification, charges in connection with litigation unrelated to our core business, 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
	June 30, 2024		December 31, 2023

Assets
Current assets:
Cash and cash equivalents	$	93,009	$	80,441

Accounts receivable, net	35,924		32,412
Prepaid expenses and other current assets	11,323		11,574
Total current assets	140,256		124,427
Property and equipment, net	2,664		3,337
Right of use assets, net	806		1,140
Intangible assets, net	226,525		251,060

Goodwill	610,063		610,063
Other assets	6,622		6,224
Total assets	$	986,936	$	996,251

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	6,035	$	4,405
Accrued liabilities	30,608		30,673
Deferred revenue	28,337		17,224
Current portion of debt, net of debt issuance costs	3,768		3,542
Total current liabilities	68,748		55,844
Debt, net of debt issuance costs	467,073		420,004
Deferred tax liabilities, net	10,928		10,823
Long-term deferred revenue	261		792
Other long-term liabilities	390		541
Total liabilities	$	547,400	$	488,004
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $0.001 par value; 50,000,000 shares authorized; zero shares issued and outstanding at June 30, 2024 and December 31, 2023	—		—
Common stock, $0.001 par value; 600,000,000 shares authorized, 75,773,928 and 78,447,701 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	126		129
Additional paid-in capital	675,191		654,634
Accumulated deficit	(235,781)		(146,516)
Total stockholders’ equity	439,536		508,247
Total liabilities and stockholders’ equity	$	986,936	$	996,251

Condensed Consolidated Statements of Operations

(unaudited)

(in thousands, except share and per share data)


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenues, net	$	78,676	$	75,415	$	156,492	$	152,550
Cost of revenues:
Subscription and services	23,373		23,984		44,717		47,485
Amortization of developed technology	4,803		4,510		9,532		8,964
Total cost of revenues	28,176		28,494		54,249		56,449
Gross profit	50,500		46,921		102,243		96,101
Operating expenses:
General and administrative	29,237		24,409		54,416		46,964
Research and development	9,905		11,754		19,390		25,566
Sales and marketing	11,467		8,558		22,003		16,771


Restructuring related costs	988		717		4,179		3,621

Total operating expenses	51,597		45,438		99,988		92,922
Operating (loss) income	(1,097)		1,483		2,255		3,179
Other (income) expense, net:
Interest and other income	(1,636)		(784)		(2,592)		(1,254)
Interest expense	9,797		9,316		19,379		18,347

Total other expense, net	8,161		8,532		16,787		17,093
Loss before income taxes	(9,258)		(7,049)		(14,532)		(13,914)
Provision for (benefit from) income taxes	412		(1,819)		444		(3,018)
Net loss	$	(9,670)	$	(5,230)	$	(14,976)	$	(10,896)




Net loss per share:
Basic	$	(0.13)	$	(0.06)	$	(0.19)	$	(0.13)
Diluted	$	(0.13)	$	(0.06)	$	(0.19)	$	(0.13)
Weighted average common stock outstanding:
Basic	76,527,803		80,911,113		76,923,824		80,786,427
Diluted	76,527,803		80,911,113		76,923,824		80,786,427

Net Revenues by Major Source

(unaudited)

(in thousands)


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Subscription fees	$	65,946	$	63,770	$	131,858	$	130,175
Professional services	9,559		9,002		18,569		17,437
Other	3,171		2,643		6,065		4,938
Total	$	78,676	$	75,415	$	156,492	$	152,550

Net Revenues by Solution Type

(unaudited)

(in thousands)


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Lending software solutions	$	61,644	$	55,778	$	122,547	$	113,779
Data verification software solutions	17,032		19,637		33,945		38,771
Total	$	78,676	$	75,415	$	156,492	$	152,550
% Growth attributable to:
Lending software solutions	8%				6%
Data verification software	(4)%				(3)%
Total % growth	4%				3%
___________

Percent Revenue Related to the Mortgage Loan Market

(unaudited)


	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Lending software solutions	10%	13%	11%	12%
Data verification software	55%	61%	56%	61%
Total % revenue related to mortgage loan market	20%	26%	20%	25%

Condensed Consolidated Statements of Cash Flows

(unaudited)

(in thousands)


	Six Months Ended June 30,
	2024		2023
Cash flows from operating activities:
Net loss	$	(14,976)	$	(10,896)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	29,096		28,955
Provision for expected credit losses	561		441
Amortization of debt issuance costs	464		669
Share-based compensation expense	20,429		13,893
Deferred income taxes	105		(4,192)
Loss on disposal of property and equipment	6		—




Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(4,073)		(2,640)
Prepaid expenses and other assets	(197)		(2,395)
Accounts payable	1,675		2,955
Accrued liabilities	(277)		(1,663)
Deferred revenue	10,581		9,058

Net cash provided by operating activities	43,394		34,185
Cash flows from investing activities:
Capitalized software additions	(3,684)		(4,562)
Purchases of property and equipment	(152)		(305)
Return of escrow deposit	—		30,000


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



Net cash (used in) provided by investing activities	(3,836)		25,459
Cash flows from financing activities:
Repurchases of common stock	(73,788)		(5,145)
Proceeds from exercise of stock options	722		1,025
Proceeds from employee stock purchase plan	944		793
Taxes paid related to net share settlement of restricted stock units	(1,676)		(1,050)
Principal payments of debt	(2,278)		(2,175)
Payments of deferred offering costs	(74)		—





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




Net cash used in financing activities	(26,990)		(6,552)
Net increase in cash and cash equivalents	12,568		53,092
Cash and cash equivalents, beginning of period	80,441		55,780
Cash and cash equivalents, end of period	$	93,009	$	108,872


Supplemental disclosures of cash flow information:
Cash paid for interest	$	18,893	$	17,955
Cash paid for income taxes	433		2,577
Non-cash investing and financing activities:
Shares withheld with respect to net settlement of restricted stock units	1,676		—

Excise taxes payable included in repurchases of common stock	505		—
Share-based compensation expense included in capitalized software additions	138		136
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	—		3

Vesting of restricted stock awards and restricted stock units	1		5

Reconciliation from GAAP to Non-GAAP Results

(unaudited)

(in thousands, except share and per share data)


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

Operating (loss) income	$	(1,097)	$	1,483	$	2,255	$	3,179
Add: Share-based compensation expense	12,500		9,367		20,436		14,556
Add: Employer payroll taxes on employee stock transactions	508		322		930		448
Add: Expenses associated with public offering	308		—		1,698		—
Add: Litigation-related charges	1,864		—		1,864		—
Add: Expenses related to debt modification	473		—		473		—
Add: Restructuring related costs(2)	988		717		4,179		3,621

Non-GAAP operating income	$	15,544	$	11,889	$	31,835	$	21,804
Operating margin	(1)%		2%		1%		2%
Non-GAAP operating margin	20%		16%		20%		14%


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

Net loss	$	(9,670)	$	(5,230)	$	(14,976)	$	(10,896)
Add: Share-based compensation expense	12,500		9,367		20,436		14,556
Add: Employer payroll taxes on employee stock transactions	508		322		930		448
Add: Expenses associated with public offering	308		—		1,698		—
Add: Litigation-related charges	1,864		—		1,864		—
Add: Expenses related to debt modification	473		—		473		—
Add: Restructuring related costs(2)	988		717		4,179		3,621


Subtract: Income tax effect on non-GAAP items	(3,994)		(2,497)		(7,099)		(4,470)
Non-GAAP net income	$	2,977	$	2,679	$	7,505	$	3,259
Non-GAAP basic net income per share	$	0.04	$	0.03	$	0.10	$	0.04
Non-GAAP diluted net income per share	$	0.04	$	0.03	$	0.09	$	0.04
Weighted average shares used to compute Non-GAAP basic net income per share	76,527,803		80,911,113		76,923,824		80,786,427
Weighted average shares used to compute Non-GAAP diluted net income per share	79,291,173		83,487,132		80,020,336		82,994,599
Net loss margin	(12)%		(7)%		(10)%		(7)%
Non-GAAP net income margin	4%		4%		5%		2%


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023

Net loss	$	(9,670)	$	(5,230)	$	(14,976)	$	(10,896)
Interest expense	9,797		9,316		19,379		18,347
Taxes	412		(1,819)		444		(3,018)
Depreciation and amortization	14,573		14,424		29,096		28,955
Share-based compensation expense	12,500		9,367		20,436		14,556
Employer payroll taxes on employee stock transactions	508		322		930		448

Expenses associated with public offering	308		—		1,698		—
Litigation-related charges(1)	1,864		—		1,864		—
Expenses related to debt modification	473		—		473		—
Restructuring related costs(2)	988		717		4,179		3,621


Deferred revenue reduction from purchase accounting for acquisitions prior to 2022	—		19		—		39


Adjusted EBITDA	$	31,753	$	27,116	$	63,523	$	52,052
Net loss margin	(12)%		(7)%		(10)%		(7)%
Adjusted EBITDA margin	40%		36%		41%		34%

(1) Litigation-related charges pertains to litigation settlements and related legal fees. During the three months ended June 30, 2024, $1.5 million relates to estimated settlements of class action lawsuits and $0.4 million relates to third-party legal fees directly related to the settlements.

(2) Restructuring related costs for the three months ended June 30, 2024 and 2023 are inclusive of net acceleration (forfeitures) of share-based compensation associated with restructuring in the amount of $0.1 million and ($0.4 million), respectively, and for the six months ended June 30, 2024 and 2023 $0.0 million and ($0.7 million), respectively.

Reconciliation from GAAP to Non-GAAP Results

(unaudited)

(in thousands)


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of revenue	$	28,176	$	28,494	$	54,249	$	56,449
Less: Share-based compensation expense	1,363		1,157		2,145		2,009
Less: Employer payroll taxes on employee stock transactions	97		88		144		109
Less: Amortization of developed technology	4,803		4,510		9,532		8,964
Non-GAAP cost of revenue	$	21,913	$	22,739	$	42,428	$	45,367
Cost of revenue as a % of revenue	36%		38%		35%		37%
Non-GAAP cost of revenue as a % of revenue	28%		30%		27%		30%


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
General and administrative	$	29,237	$	24,409	$	54,416	$	46,964
Less: Share-based compensation expense	6,792		5,231		11,185		7,494
Less: Employer payroll taxes on employee stock transactions	206		107		343		158
Less: Expenses associated with public offering	308		—		1,698		—
Less: Litigation-related charges	1,864		—		1,864		—
Less: Expenses related to debt modification	473		—		473		—
Less: Depreciation expense	363		495		739		990
Less: Amortization of intangibles	9,407		9,419		18,825		19,001
Non-GAAP general & administrative	$	9,824	$	9,157	$	19,289	$	19,321
General and administrative as a % of revenue	37%		32%		35%		31%
Non-GAAP general and administrative as a % of revenue	12%		12%		12%		13%


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Research and development	$	9,905	$	11,754	$	19,390	$	25,566
Less: Share-based compensation expense	2,531		1,875		4,033		3,658
Less: Employer payroll taxes on employee stock transactions	125		97		246		125
Non-GAAP research and development	$	7,249	$	9,782	$	15,111	$	21,783
Research and development as a % of revenue	13%		16%		12%		17%
Non-GAAP research and development as a % of revenue	9%		13%		10%		14%


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Sales and marketing	$	11,467	$	8,558	$	22,003	$	16,771
Less: Share-based compensation expense	1,814		1,104		3,073		1,395
Less: Employer payroll taxes on employee stock transactions	80		30		197		56
Non-GAAP sales and marketing	$	9,573	$	7,424	$	18,733	$	15,320
Sales and marketing as a % of revenue	15%		11%		14%		11%
Non-GAAP sales and marketing as a % of revenue	12%		10%		12%		10%


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net cash provided by operating activities	$	14,356	$	6,104	$	43,394	$	34,185
Less: Capitalized software	1,847		2,638		3,684		4,562
Less: Capital expenditures	60		171		152		305
Free cash flow	$	12,449	$	3,295	$	39,558	$	29,318
Net cash provided by operating actives as a % of revenue	18%		8%		28%		22%
Free cash flow as a % of revenue	16%		4%		25%		19%

©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 Q2’24 in Review • Named Larry Katz President of the Company and announced Elias Olmeta will join as Chief Financial Officer on August 26th • Delivered strong Q2 results against continued challenging macro • Performance demonstrated resilient business model & disciplined execution • Successfully executed our “land and expand strategy” • Strong sales activity due to MeridianLink® One enabling digital progression • Provided numerous platform enhancements & partner integrations • Returned $29.9M to stockholders via share repurchases with $61.3M in repurchase authorization remaining

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 4 Q2 2024 Financial Highlights Strong second 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 Q2’23 to Q2’24. (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. $78.7M Total Revenue 4% YoY growth 16% Free Cash Flow Margin(3) 1,145bps YoY growth 72% Adj. Gross Margin(1) 230bps YoY growth 40% Adj. EBITDA Margin(2) 440bps YoY growth GROWTH & SCALE ATTRACTIVE MARGIN AND CASH FLOW PROFILE

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 5 97% of FIs Plan to Enhance Their Lending Capabilities Over Next Two Years Software investment growth to drive required digitalization and optimization, empowering mid-market FIs to more effectively compete DIGITAL PRIORITIZATION 80% of banks and CUs plan to increase technology spend over next 2 years Source: “2024 Strategic Priorities Benchmark Study: AI Brings Data Strategy Front and Center,” Jack Henry, May 2024; “State of Digital Lending”, Digital Banking Report, August 2024 19% of financial institutions plan to enable digital lending within 1 year Top Three Strategic Priorities Over the next two years, what are your top three strategic priorities? TOTAL BANKS CREDIT UNIONS 54% 72% 44% Growing Deposits 43% 53% 36% Increasing Operational Efficiency 38% 45% 34% Growing Loans

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 6 Q2 2024 Business & Operating Highlights PLATFORM ENHANCEMENTSPLATFORM DEMAND PLATFORM ROI Credit union customer added MeridianLink Mortgage, Mortgage Access, and Debt Optimization to their use of MeridianLink One $2B AUM After going live with MeridianLink Access and Opening, 3Rivers FCU cut down app processing times from Enabled by Conductiv and MeridianLink One, Everwise Credit Union achieved up to a 47% lift in approval rates without increasing losses With our new integration between MeridianLink Insight and MeridianLink Collect, customers can access advanced analytics to run their businesses, including a new payment propensity index for receiving payment on delinquent cases $3B AUM Bank new logo win on the home equity and credit card modules of MeridianLink Consumer TO48 hours 2 hours 47%

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 7 Q2 2024 Revenue Drivers Revenue by Source ($ millions) % Subscription Professional Services OtherSubscription Fees Lending Software Solutions Data Verification Software Solutions % Mortgage MortgageNon-Mortgage % Mortgage MortgageNon-Mortgage $64 $66 $9 $10 $3 $3 Q2'23A Q2'24A 84%85% $75 $79 $48 $55 $7 $6 Q2'23A Q2'24A 10%13% $56 $62 $8 $8 $12 $9 Q2'23A Q2'24A 55%61% $20 $17 Revenue by Solution Type Note: Financial data as of the three months ended June 30th, 2023 or June 30th, 2024 as noted. Subtotals may not add to totals due to rounding.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. $52 $52 $55 $58 $56 $59 $59 $61 $62 $48 $49 $49 $51 $48 $52 $52 $54 $55 Q2 2022A Q3 2022A Q4 2022A Q1 2023A Q2 2023A Q3 2023A Q4 2023A Q1 2024A Q2 2024A 8 Lending Solutions Growing High Single-Digits at Scale Lending Software Solutions Revenue Non-Mortgage Lending Software Solutions Revenue % YoY Non-Mortgage Lending Software Solutions Revenue Growth¹ ($ 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 14% 16% 21% 23% 13% 1% 6% 5% 6% 14% 17% 26% 18% 8% 12% 8% 5% 11%

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. $27 $32 36% 40% Q2'23A Q2'24A 9 Attractive Margin Profile Driven by Cost Discipline Adj. Gross Profit ($ 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 $53 $57 70% 72% Q2'23A Q2'24A

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. $35 $36 12% 12% FY2022A FY2023A 10 Investing in Future Growth & Transformation Non-GAAP Research & DevelopmentNon-GAAP Sales & Marketing ($ 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 $7 $10 10% 12% Q2'23A Q2'24A $36 $40 13% 13% FY2022A FY2023A $10 $7 13% 9% Q2'23A Q2'24A $9 $10 12% 12% Q2'23A Q2'24A

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 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. 11 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 $12 $16 16% 20% Q2'23A Q2'24A $65 $58 23% 19% FY2022A FY2023A $3 $124% 16% Q2'23A Q2'24A

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 12 Guidance Update Guidance Update Three Months Ended September 30, 2024 Year Ended December 31, 2024 ($ in thousands) Q3 2023A Low (Estimated) High (Estimated) 2023A Low (Estimated) High (Estimated) Revenue $76,488 $78,000 $81,000 $303,617 $312,000 $318,000 % Growth 7% 2% 6% 5% 3% 5% Adj. EBITDA(1) 29,835 30,000 33,000 112,990 123,000 128,000 % Growth 0% 1% 11% 2% 9% 13% % Margin(1) 39% 38% 41% 37% 39% 40% 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. 14 Q2 2024 Performance ($ in thousands) Q2 2023A Q2 2024A Delta Consolidated Statements of Operations Data Revenue $75,415 $78,676 $3,261 Gross profit 46,921 50,500 3,579 % Gross margin 62% 64% 2% Net (loss) (5,230) (9,670) (4,440) % Net (loss) margin (7)% (12)% (5)% Non-GAAP Financial Data Adj. EBITDA(1) 27,116 31,753 4,637 % Adj. EBITDA margin(1) 36% 40% 4% Free cash flow(2) 3,295 12,449 9,154 % Free cash flow margin(2) 4% 16% 12% 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 15 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 sponsor and third-party acquisition-related costs. • 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, 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, 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, litigation related charges not related to our core business, 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. 16 Financial Reconciliations ($ in thousands) 2022A 2023A Q2’23A Q2’24A Reconciliation of Net Income (Loss) to Adjusted EBITDA(1) Net income (loss) $1,294 ($42,539) ($5,230) ($9,670) (+) Interest expense, net 24,227 38,158 9,316 9,797 (+/-) Tax expense3 4,130 23,943 (1,819) 412 (+) Depreciation & amortization 53,982 57,829 14,424 14,573 (+) Share-based compensation expense 22,761 31,213 9,367 12,500 (+) Employer payroll taxes on employee stock transactions 350 687 322 508 (+) Expenses associated with public offering – – – 308 (+) Litigation-related charges4 – – – 1,864 (+) Expenses related to debt modification – – – 473 (+) Restructuring related costs5 – 3,621 717 988 (+) 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 $27,116 $31,753 Net income (loss) margin 0% (14)% (7)% (12)% Adjusted EBITDA margin(2) 39% 37% 36% 40% 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 three months ended June 30, 2024, $1.5 million relates to estimated settlements of class action lawsuits and $0.4 million relates to third-party legal fees directly related to the settlements. (5) Restructuring related costs for the year ended December 31, 2023 and the three months ended June 30, 2024 are inclusive of net acceleration (forfeitures) of share-based compensation associated with restructuring in the amount of $(663) thousand and $126 thousand, respectively.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 17 Financial Reconciliations (Cont’d) ($ in thousands) 2022A 2023A Q2’23A Q2’24A Revenues, net $288,046 $303,617 $75,415 $78,676 Cost of revenue 106,331 108,491 28,494 28,176 (-) Share-based compensation expense 4,630 3,848 1,157 1,363 (-) Employer payroll taxes on employee stock transactions 127 157 88 97 (-) Amortization of developed technology 15,553 18,129 4,510 4,803 Non-GAAP cost of revenue 86,021 86,357 22,739 21,913 Adjusted gross profit $202,025 $217,260 $52,676 $56,763 GAAP gross margin 63% 66% 62% 64% Adjusted gross margin 70% 72% 70% 72% Adjusted Gross Profit ($ in thousands) 2022A 2023A Q2’23A Q2’24A Operating income (loss) $28,588 $15,533 $1,483 ($1,097) (+) Share-based compensation expense 22,761 31,213 9,367 12,500 (+) Employer payroll taxes on employee stock transactions 350 687 322 508 (+) Expenses associated with public offering – – – 308 (+) Litigation-related charges(1) – – – 1,864 (+) Expenses related to debt modification – – – 473 (+) Sponsor and third-party acquisition related costs 4,228 – – – (+) Restructuring related costs(2) – 3,621 717 988 Non-GAAP operating income $55,927 $51,054 $11,889 $15,544 GAAP operating margin 10% 5% 2% (1)% Non-GAAP operating margin 19% 17% 16% 20% 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) Litigation-related charges pertains to litigation settlements and related legal fees. During the three months ended June 30, 2024, $1.5 million relates to estimated settlements of class action lawsuits and $0.4 million relates to third-party legal fees directly related to the settlements. (2) Restructuring related costs for the year ended December 31, 2023 and the three months ended June 30, 2024 are inclusive of net acceleration (forfeitures) of share-based compensation associated with restructuring in the amount of $(663) thousand and $126 thousand, respectively.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 18 Financial Reconciliations (Cont’d) ($ in thousands) 2022A 2023A Q2’23A Q2’24A Sales and marketing $23,658 $35,792 $8,558 $11,467 (-) Share-based compensation expense 2,160 3,849 1,104 1,814 (-) Employer payroll taxes on employee stock transactions 40 95 30 80 Non-GAAP sales and marketing $21,458 $31,848 $7,424 $9,573 GAAP sales and marketing as a % of revenue 8% 12% 11% 15% Non-GAAP sales and marketing as a % of revenue 7% 10% 10% 12% Non-GAAP Sales and Marketing Expense ($ in thousands) 2022A 2023A Q2’23A Q2’24A Research and development $42,592 $47,517 $11,754 $9,905 (-) Share-based compensation expense 6,472 7,060 1,875 2,531 (-) Employer payroll taxes on employee stock transactions 102 189 97 125 Non-GAAP research and development $36,018 $40,268 $9,782 $7,249 GAAP research and development as a % of revenue 15% 16% 16% 13% Non-GAAP research and development as a % of revenue 13% 13% 13% 9% Non-GAAP Research and Development Expense ($ in thousands) 2022A 2023A Q2’23A Q2’24A General and administrative $82,649 $92,663 $24,409 $29,237 (-) Share-based compensation expense 9,499 16,456 5,231 6,792 (-) Employer payroll taxes on employee stock transactions 81 246 107 206 (-) Expenses associated with public offering – – – 308 (-) Litigation-related charges(1) – – – 1,864 (-) Expenses associated with debt modification – – – 473 (-) Depreciation expense 2,319 1,860 495 363 (-) Amortization of intangibles 36,110 37,840 9,419 9,407 Non-GAAP general and administrative $34,640 $36,261 $9,157 $9,824 GAAP general and administrative as a % of revenue 29% 31% 32% 37% Non-GAAP general and administrative as a % of revenue 12% 12% 12% 12% Non-GAAP General and Administrative Expense (1) Litigation-related charges pertains to litigation settlements and related legal fees. During the three months ended June 30, 2024, $1.5 million relates to estimated settlements of class action lawsuits and $0.4 million relates to third-party legal fees directly related to the settlements.

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 19 Balance Sheet Highlights ($ in thousands) 2022A 2023A Q2’24A Total current assets $128,132 $124,427 $140,256 Property and equipment, net 4,245 3,337 2,664 Intangible assets, net 297,475 251,060 226,525 Goodwill 608,657 610,063 610,063 Other assets 20,648 7,364 7,428 Total assets $1,059,157 $996,251 $986,936 Total current liabilities $54,199 $55,844 $68,748 Long-term debt, net of debt issuance costs 423,404 420,004 467,073 Other liabilities 2,463 12,156 11,579 Total liabilities $480,066 $488,004 $547,400 Total stockholders’ equity 579,091 508,247 439,536 Total liabilities and stockholders’ equity $1,059,157 $996,251 $986,936

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 20 FCF & Net Leverage ($ in thousands) 2022A 2023A Q2’23A Q2’24A 2021 Term loan $431,738 $427,388 $429,563 $475,109 (-) Debt issuance costs 4,829 3,842 4,210 4,268 (-) Cash and cash equivalents 55,780 80,441 108,872 93,009 Net Leverage $371,129 $343,105 $316,481 $377,832 LTM Adjusted EBITDA 111,199 112,990 101,103 124,460 Leverage multiple 3.3x 3.0x 3.1x 3.0x ($ in thousands) 2022A 2023A Q2’23A Q2’24A Net cash provided by operating activities $74,587 $67,964 $6,104 $14,356 (-) Capital expenditures 1,136 943 171 60 (-) Capitalized software 8,228 9,250 2,638 1,847 Non-GAAP free cash flow $65,223 $57,771 $3,295 $12,449 Net cash provided by operating activities as a % of revenue 26% 22% 8% 18% Free cash flow as a % of revenue 23% 19% 4% 16% Free Cash Flow Net Leverage

©2024 MERIDIANLINK, INC. ALL RIGHTS RESERVED. 21 Financial Supplement Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Lending software solutions $193.7 $ 191.1 $189.2 $188.1 $186.4 $185.5 $182.3 $166.2 $160.0 Data verification software solutions $63.6 $ 65.3 $68.4 $69.3 $71.3 $73.4 $77.1 $81.8 $85.1 Total $257.3 $ 256.4 $257.5 $257.4 $257.7 $258.9 $259.4 $248.1 $245.1 Annual Recurring Revenue (ARR)¹ Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Lending software solutions 101.9% 101.1% 101.4% 106.0% 108.9% 113.3% 113.1% 109.1% 107.8% Data verification software solutions 89.9% 90.3% 88.5% 84.3% 83.5% 84.0% 87.0% 89.9% 92.1% Total 98.6% 98.1% 97.5% 98.8% 100.0% 102.6% 103.4% 101.8% 101.7% Net Retention Rate² Organic Customer Growth Rate4 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Lending software solutions 1,544 1,555 1,567 1,588 1,594 1,603 1,606 1,519 1,510 Data verification software solutions 430 430 429 435 436 430 427 431 427 Total 1,974 1,985 1,996 2,023 2,030 2,033 2,033 1,950 1,937 Total Customer³ Count Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Q2 2022 Lending software solutions (3.1%) (3.0)% (2.4)% (0.9)% 0.1% 1.5% 2.8% 3.3% 2.9% Data verification software solutions (1.4%) 0.0% 0.5% 0.9% 2.1% 1.9% 0.5% 0.0% 0.2% Total (2.8%) (2.4)% (1.8)% (0.5)% 0.5% 1.6% 2.3% 2.5% 2.3% (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	Aug. 08, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Aug. 08, 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