highlights joining finally for for I'll provide detail, start quarter, thanks results for then recap And highlights more I in providing again, XXXX. Nicolaas. full-year and us our the the financial second giving Thanks, guidance of the by the quarter everyone will today. model and our to before
of were we and balance year. professional year As from generated fees, our quarter, coming total the with XX% in of $XX.X first X% revenues quarter revenue first Nicolaas mentioned, other. million, the services up subscription over
was adjusted income $XX non-GAAP EBITDA $XX.X was Our and operating GAAP our million, was operating $XX.X million. million, income
quick usage-based model. reminder, a recurring we As a SaaS revenue have
and monthly charge. of lower for Our Typically, in that transaction an usually not exchange the renew to commit or fees sign the commitments, are receive any incremental applications customers of without commitment they cancelable contracts, minimum auto unit per at reports. years, end which is three monthly monthly customers purchases higher pricing In over annual term. long-term penalty and
to platform's lending XX% and once customers we software the quarter, for our over with revenue verification success. we We and customers year. naturally grow more our Our solutions year drives our accounted solutions. both ability grew and are more nearly XX% installed with volume provide effective software of and total In lending revenue data make can their solutions is aligned used first and efficient so software it
anticipated year-over-year decreased impact as come software the mortgage-related year-over-year. which revenues, solutions, verification from lending remainder the of data from Excluding slowdown XX% grew software X% The declined. our solutions revenues mortgage-related our revenues in revenues
rates interest market pulled forward the our previously we revenues, XX% loan generated the First in from mortgage as of than overall expected quarter mortgage demand. believe some revenues surge more
our of X% and revenues solution Specifically, revenues quarter. data our tied of verification products in our solutions the mortgage-focused software were XX% lending software to first
our enabling our revenue partners we to standard find growth win The the to more in customers. While volumes our the we the in saw our existing of revenue solutions and penetration additional year-over-year share came mortgage, customers, to our customers, growth continue drivers, of items continue to points augment to from part market. as new data and them tied from the is to this quarter added market increased seven software majority module data with to increased of primarily business our solutions as verification outperformed provide value ways
of a combination we through drive additional of our partner of growth marketplace products. our We bring and developed as further to capabilities expect expansion delivery customers M&A, organically to
Moving QX was was in XX%. profitability. Adjusted for Gross margin compensation, stock-based margin gross our to XX%.
adjusted was first our we spent last We XX% and continue invest organic and and quarter efforts growth XX%. marketing drive to to X% adjusted stock-based sales Compared marketing margin acceleration. compensation. spend, more this our additional more R&D, in year, sales for in the With to R&D in and EBITDA
to will growth. the We year our invest to underlying across accelerate continue
quarter quarter $XX.X end $XX.X Turning the or XX% to and was cash the the of first flow margin. the $XX.X We with cash up million sheet cash the Operating and million million statement. equivalents, cash flow flow quarter. in fourth balance free $XXX.X unrestricted was cash ended and free million, from cash first flow in a
in pipeline in pursue market rise call acquisitions, the to QX continue business, since guidance the XXXX. of to for generate repurchase and year to mortgage the rapid for an $XX the or remains conclude million funds update continue the now full-year see can the and common I We our of the rates volumes, decrease momentum we be and interest robust. recently Despite stock. strong shares under of providing to up will our that used repurchase by in associated overall, deleverage capacity start authorized invest in expected
second expected revenue and quarter, in of second estimated between compared an to be This $XX.X $XX.X million revenue to to contributed quarter. in XXXX. of quarter the the for increase MeridianLink estimated of our just X% or million revenue $XX.X market the $XX.X period X% year-over-year. In million total XXXX, the same third represents million to the ago under is year of mortgage For a
contribute quarter range. basis, XXXX. market million of our for approximately EBITDA the of between less estimated at of representing mortgage expected than EBITDA is XX% a of the to be the revenue non-GAAP second expect margins second We million, the $XX On quarter adjusted to and $XX XX% midpoint
throughout to intend was initiatives to bring spend acquired adjusted to due This $X quarter EBITDA well StreetShares remainder to our primarily in year. the MeridianLink underspending our QX While reported in includes the in approximately quarter, guidance, One. fully solution recently previous outlined the our million as we this plans the market part of came accelerate and of per above
earlier EBITDA as is representing spending lower will XXXX. $XXX XXXX, margins at On of a of the EBITDA range. represents XX% full-year compared Nicolaas. of midpoint to between annual be million anticipated growth period $XXX year-over-year the increases areas million to future the expected basis, total be reflects our $XXX.X and $XXX year-over-year. in in adjusted an estimated The in same margin This for revenue full-year For increase non-GAAP and approximately is to estimated that $XXX estimated drive described X% the million, million X% XXXX expected by between million, to
lead to and current to we expand continue in the cloud both require more investment focus that product convert will in capacity items to both expense returns. on our We to will future and revenue in investment services that the suite, expect bookings the enhance to development
of forecast activity the mortgage normalization the of appears market in balance to As well we XXXX, be the lending underway.
a and of meaningful performance our percentage from continue subtracting being XXs, low software We expected minor in headwind XXXX, data software in from MeridianLink drag expect in five Overall, ahead. lending decrease the verification percentage more XXXX. in growth quarters mortgage-related the this to on down a revenue to more points in than XX% is XXXX to the of
rates While business to decline this forecast, move than start building more of time. faster year, at than previously is have we some higher have the the we anticipated the reduction for we been our as seen counter
strength as non-mortgage the continue We the have for take new I adding our in happy With guidance any quarter. year will whole, no doubt therefore, value our and recent we provide, increasing which over Nicolaas providing that ongoing to the to most are clients, Operator? year and year of and solutions grew more we that, customers a revenue for XX% reflects our MeridianLink questions.
