Costa Mesa-based MeridianLink Inc., which provides software for credit unions and other financial firms, reported first-quarter revenue of $77.1 million, above analysts’ estimates and a 6% increase over the same period a year earlier.
Net loss for the period was $5.7 million compared with the $7.5 million gain reported a year earlier.
The company (NYSE: MLNK) projects revenue of up to $79 million in the current quarter, which would be well above analysts’ estimates of $76.5 million.
“Given the macro backdrop, we believe this performance is a fantastic achievement,” MeridianLink CEO Nicolaas Vlok said in a statement announcing the results.
MeridianLink was unchanged in after-hours trading after closing down 5% at $14.35 per share for a market cap of $1.2 billion.
For further details, see the May 15 print edition.