MeridianLink Inc., a provider of software platforms for credit unions and smaller financial entities, says it expects consumer lending will continue momentum in 2023 but at a slower pace compared to last year.
The Costa Mesa-based company (NYSE: MLNK) reported on Nov. 1 that its third-quarter revenue grew 7% on annual basis to $76.5 million, matching analysts’ estimates.
“Since the beginning of the year when we’ve restructured our sales or our services organization and created practice areas, we’ve seen a continued increase in productivity and ability to deliver,” Chief Executive Nicolaas Vlok told stock analysts shortly after the earnings were released.
The company’s shares rose 2% to $16.20 apiece for a market cap of $1.3 billion in after-hours trading.
“We anticipated the market headwinds that our customers would face through the year, and the team has remained steadfast in serving customers,” Chief Financial Officer Sean Blitchok told analysts.
The company reaffirmed full-year guidance for revenue expected in the range of $302 million to $306 million. Adjusted EBITDA is expected to be in the range of $104 million to $108 million for the full year.
