MeridianLink, Inc.

I will now like to turn the conference over to your first speaker today, Gianna Rotellini. Gianna, please go ahead.

Good afternoon, and welcome to MeridianLink's first quarter fiscal year 2025 earnings call. We will be discussing the results announced in our press release issued after the market closed today. With me today are MeridianLink's Chief Executive Officer, Nicholas Block, President Larry Katz, and Chief Financial Officer, Elias Olmeda. Before we begin, I'd like to remind you that today's conference call will include forward-looking statements based on the company's current expectations. These forward-looking statements are subject to a number of significant risks and uncertainties, and our actual results may differ materially. For a discussion of the risks, uncertainties, and other factors that could affect our future financial results in business, Please refer to the disclosure in today's earnings release and the periodic reports and filings we file from time to time with the Securities and Exchange Commission. All of our statements are made based on information available to us as of today and, except as required by law, we assume no obligation to update any such statements. Please note that, other than revenue, cash and cash equivalents, and cash flow from operations, All numbers in our remarks are on a non-GAAP basis unless otherwise stated. A reconciliation to comparable GAAP metrics can be found in today's earnings presentation, which is available on our investor relations website and as an exhibit to the form 8K furnished with the SEC just before this call. Our earnings presentation is available for you to download and reference throughout our prepared remarks. With that, let me turn the call over to Nicholas.

Thank you, Gianna. Good afternoon and thanks for joining us today. We are pleased with our first quarter results. Meridian Link achieved 81.5 million in total revenue or a 5% growth year over year and adjusted EBITDA of 34.8 million, a 43% adjusted EBITDA margin. Our quarterly results highlight our focus and success operating the business in an increasingly uncertain macroeconomic environment. Earlier today, we announced that Larry Katz, our president, will assume the role of CEO, effective October 1st. After six rewarding years at the helm of MeridianLink and multiple prior CEO roles, I intend to focus my time on private company boards and investment activities. This transition has been carefully planned, and I look forward to continuing to work alongside Larry and the entire MeridianLink team over the next four and a half months. I have enjoyed every moment of leading this great organization since I took the helm from Tim Nguyen, our co-founder back in late 2019. As part of these changes, Tim has transitioned to a strategic advisor role and will continue to provide Larry with a strategic insight from which I greatly benefited. Together, we have expanded the business meaningfully. growing revenue from approximately 150 million in 2019 to 330 million at the midpoint of our guidance for 2025. We migrated our solutions from on-premise to the cloud and established our platform, Meridian Link One, as the market leader, and we grew our customer base to nearly 2,000 financial institutions and CRAs. We have built our partner marketplace to be one of the most robust in the market. And today, over 600 partners are part of our growing ecosystem. We continue to innovate across both consumer and mortgage to automate more aspects of the lending process, helping our customers drive deposit growth, speed decisioning, fuel efficiency, and ultimately enable their workforce to focus on their core differentiator, fostering long-term relationships with their consumers. And we've made significant investments to transform and scale our go-to-market organization to deliver more value at greater speed. We've accomplished a lot over the years, but I firmly believe that MeridianLink's best days are ahead. Now, Larry will lead us into the next chapter for MeridianLink. He's an operator with deep experience in both consumer finance and SaaS. and at companies that have operated at scale. He's a great cultural fit for our organization and highly aligned with our mission and values. In the last year, he had a big impact on several critical aspects of the business. First, he's brought operational rigor to many parts of our business, driving the development and prioritization of our objectives for 2025. He has improved our financial discipline and transparency, and he has further clarified our build-buy partner strategy. Second, he's invested the time and established strong relationships with all of our stakeholders, including customers, partners, shareholders, and the team. Over the last year, he's met with many of our customers across the country and reaffirmed our commitment to both customer success and making it easier to do business with us. Just last week, Larry successfully led the company through our annual user conference, MeridianLink Live, welcoming over 1,300 customers, prospects, partners, and teammates in attendance. He hosted our first-ever customer advisory board, and the feedback was overwhelmingly positive. Throughout the week, our customers shared our excitement regarding our platform and ecosystem growth. our product roadmap, and Larry's laser focus on driving better outcomes for our community banks, credit unions, and credit reporting agencies alike. And third, Larry is a recognized leader in our organization. Among other successes, he has helped bring greater focus and leadership to the commercial team, which became evident through our record annual bookings and new logo momentum we achieved closing out 2024. he has also been focused on the development of our talent. He's brought in key leadership that can scale and accelerate the business to meet the opportunities ahead, including outstanding hires like Elias and our new Chief Strategy Officer, Troy Coggiola. I wouldn't have made this decision now if I didn't have the confidence that Larry is the right person to lead the next chapter. He is ready now, and I know our employees will join me and my excitement for Larry to take on this role. I'm thrilled for him to start his journey as CEO, and I'll be there for the transition, just as Tim was for me. To close, I would like to thank you, our investors and analysts. I have enjoyed getting to know so many of you throughout my tenure. I've learned from you, and I'm working hard to use your input to make myself and our company significantly stronger and better. I'm excited to stay involved with the company as a board member and significant shareholder. With that, I will turn it over to Larry.