ModusLink Stock Price, News & Analysis

MeridianLink (NYSE: MLNK), a provider of software platforms for financial institutions and consumer reporting agencies, announced it will release its third quarter 2024 financial results after market close on Thursday, November 7, 2024. The company will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) on the same day. The earnings call will be accessible via phone and webcast, with replay options available through November 14, 2024.

MeridianLink (NYSE: MLNK) announced that Wes Zauner, VP of Product, will present at Jack Henry Connect 2024 in Phoenix, AZ. The session, 'Getting Ready for Tomorrow: Practical Steps to Digital Progression', will showcase MeridianLink's Digital Progression Model, which helps financial institutions assess their digital state and identify growth opportunities.

The presentation will focus on five key areas for digital growth: Consumer Experience, Data-Centricity, Share-of-Wallet Growth, Instant Decisioning, and Process Automation. MeridianLink's model, built on 25 years of experience, aims to help banks and credit unions meet modern consumer expectations.

MeridianLink and Jack Henry have partnered for over 15 years, providing solutions for account opening, loan origination, and cross-selling. Attendees can visit Booth 919 to learn more about MeridianLink's offerings.

MeridianLink (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, has announced the pricing of a secondary offering of 6,000,000 shares of its common stock. The offering is being made by certain funds managed by Thoma Bravo, L.P. (the Selling Stockholders). The underwriter, J.P. Morgan Securities , has been granted a 30-day option to purchase up to an additional 900,000 shares.

The offering consists entirely of shares sold by the Selling Stockholders, with MeridianLink not receiving any proceeds. It is expected to close on September 30, 2024, subject to customary conditions. The shares will be offered through various methods, including direct sales, brokerage transactions, and negotiated deals. The offering is being made pursuant to an effective shelf registration statement on Form S-3 filed with the SEC.

MeridianLink (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, has announced the launch of an underwritten secondary public offering of 6,000,000 shares of its common stock. The offering is being made by certain funds managed by Thoma Bravo, L.P., with an additional 30-day option to purchase up to 900,000 shares. J.P. Morgan Securities is acting as the underwriter and sole book-running manager for the offering.

The company will not receive any proceeds from the sale of shares. The offering is being made pursuant to an effective shelf registration statement on Form S-3 filed with the SEC. Potential investors are advised to read the prospectus and related documents for complete information about the company and the offering.

MeridianLink's 2024 State of Digital Lending report, in collaboration with The Digital Banking Report, reveals significant challenges in digital lending despite increased mobile applications. Key findings include:

- 65% of loan applications now submitted via mobile, up from 34% in 2019
- Over 50% of organizations claim a fully digital lending process
- 90% offer online loan applications, but only 65% provide mobile options
- Consumer ability to complete online applications dropped from 76% (2021) to 57% (2024)
- Completion rates vary: 81% for credit cards, 65% for auto loans, 35% for mortgages, 17% for small business loans

The report emphasizes the need for financial institutions to rethink processes and embrace digital lending to meet modern consumer expectations.

MeridianLink, Inc. (NYSE: MLNK) announced significant efficiency gains for Broadway Bank through the implementation of MeridianLink® Mortgage. The San Antonio-based bank has reduced loan processing time by up to six days, improving banker productivity and client satisfaction. The platform has automated four manual administrative processes and implemented improved customer data reporting tools.

Broadway Bank also utilizes MeridianLink® Consumer, part of the MeridianLink® One platform, to consolidate data from all channels into a single origination point. Since early 2023, the bank has seen significant improvements in account opening and application decisioning processes. Customers have reported high satisfaction levels, citing quick document uploads and timely responses from the bank.

MeridianLink, Inc. (NYSE: MLNK), a leading provider of modern software platforms for financial institutions and consumer reporting agencies, has appointed Elias Olmeta as its new Chief Financial Officer. Olmeta, with over 30 years of experience as a financial leader, succeeds Larry Katz, who has transitioned to the role of President. Olmeta's extensive background includes CFO positions at Vistage Worldwide and Mitchell International, where he drove growth, profitability, and digital transformation initiatives.

CEO Nicolaas Vlok expressed confidence in Olmeta's ability to contribute to MeridianLink's future success in democratizing lending. Olmeta's expertise in scaling SaaS companies and his experience in finance, corporate development, and operations leadership are expected to support the company's growth strategy and market share expansion.

MeridianLink (NYSE: MLNK) reported a second quarter revenue of $78.7 million, marking a 4% year-over-year increase. Lending software solutions drove this growth, contributing $61.6 million, up 11% year-over-year. Despite this growth, the company faced an operating loss of $1.1 million and a net loss of $9.7 million. However, non-GAAP operating income stood at $15.5 million, and adjusted EBITDA reached $31.8 million, representing 40% of revenue.

MeridianLink generated $14.4 million in cash flows from operations and $12.4 million in free cash flow. Additionally, the company repurchased $29.9 million worth of stock. Leadership changes were announced, with Larry Katz named President and Elias Olmeta appointed as the new CFO, effective August 26, 2024.

The company provides Q3 2024 guidance with revenue expectations between $78.0 to $81.0 million and adjusted EBITDA between $30.0 to $33.0 million. For the full year 2024, revenue is projected to be between $312.0 to $318.0 million, and adjusted EBITDA between $123.0 to $128.0 million.

MeridianLink (NYSE: MLNK) has announced key changes to its executive leadership team. Larry Katz, currently CFO, has been appointed as the new President of the company. Katz brings over 25 years of experience in technology and banking, having held leadership positions at StubHub, Genesys, JPMorgan Chase, and The Walt Disney Company.

Additionally, Elias Olmeta will join MeridianLink as the new Chief Financial Officer on August 26, 2024. Olmeta has extensive experience as CFO in SaaS and Services businesses, including roles at Mitchell International and Vistage Worldwide.

These appointments aim to strengthen MeridianLink's executive team and drive the company's next phase of growth. The current President of Go-To-Market, Chris Maloof, will be stepping down on August 31, 2024, to pursue opportunities outside the industry.