MeridianLink (MLNK) Q2 2025 earnings summary

Executive summary

• Revenue grew 8% year-over-year to $166.1 million for the six months ended June 30, 2025, led by Lending Software Solutions growth.

• Net loss narrowed to $7.7 million for the six months, with Q2 net loss at $3.0 million.

• Gross profit increased 8% year-over-year to $110.8 million, with Q2 gross profit at $57.1 million.

• A definitive merger agreement was signed in August 2025 to be acquired for $2.0 billion ($20.00 per share), pending approvals.

• CEO transition announced, with Laurence E. Katz (Larry Katz) to become CEO effective October 1, 2025.

Financial highlights

• Q2 2025 revenue was $84.6 million, up 8% from Q2 2024, with lending software revenue up 12% and data verification down 7%.

• Adjusted EBITDA for Q2 2025 was $38.4 million (45% margin), up from $31.8 million in Q2 2024.

• Gross margin for Q2 2025 was 67.5%, up from 64.2% in Q2 2024.

• Cash flow from operations for the first half of 2025 was $61.5 million; Q2 free cash flow margin was 20%.

• Non-GAAP net income for Q2 2025 was $10.3 million (12% margin), up from $3.0 million year-over-year.

Outlook and guidance

• The company suspended full-year 2025 guidance due to the pending acquisition.

• The pending merger is expected to impact future reporting; no material impact anticipated from recent tax legislation.

• Management is monitoring macroeconomic conditions, including elevated interest rates and inflation.