Meridian Holdings (MRDN) Financial Statements & Analysis

Meridian Holdings (MRDN) Income Statement

Meridian Holdings reported revenue of $182.86M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 21.0% from $151.12M a year earlier. Meridian Holdings posted a net loss of $89.90M, compared with a net loss of $1.48M a year earlier. Gross margin was 56.6% and operating margin -2.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $50.19M, up 16.1% from the same quarter a year earlier.

Meridian Holdings Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Meridian Holdings Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2022	FY 2021	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Oct 2023	Dec 2022	Oct 2022	Dec 2021	Apr 2021	Jan 2021	Jul 2019	Jul 2018	Jul 2017
Revenue & Gross Profit
Revenue	182.86	151.12	92.99	92.99	74.93	36.03	60.37	60.37	5.22	2.88	0.92	0.12
Cost of Revenue	79.41	62.54	24.75	24.75	19.41	26.87	14.62	14.62	2.00	0.02	0.07	0.05
Gross Profit	103.46	88.57	9.87	68.24	9.16	9.16	-	45.75	3.22	2.86	0.84	0.07
Operating Expenses
Research & Development	0.00	0.00	-	0.00	-	0.02	-	0.20	0.05	0.00	0.00	0.00
Selling, General & Administrative	97.92	78.10	52.59	52.28	25.23	8.97	19.98	20.29	2.78	0.79	0.59	0.32
Operating Expenses	107.08	85.83	10.40	54.18	8.97	8.97	-	31.45	2.82	1.05	1.83	0.32
Operating Income	-3.62	2.74	-0.53	14.06	0.19	0.19	-	14.30	0.40	1.81	-0.99	-0.25
Other Income/Expense
Interest Income	0.24	0.22	0.06	0.10	0.01	0.01	-	-	0.00	0.01	0.00	0.00
Interest Expense	4.58	3.52	0.04	0.04	-	0.00	-	0.00	0.01	0.05	0.16	0.41
Other Income/Expense	-89.23	-1.54	0.04	1.40	0.27	0.27	-	-0.14	0.00	-0.04	-0.33	2.05
Income
Income Before Tax	-97.19	1.21	15.47	15.47	17.09	0.46	14.16	14.16	0.40	1.77	-1.32	1.80
Income Tax Expense	-5.21	2.62	0.68	1.57	0.42	0.42	-	1.21	0.00	0.00	0.00	0.00
Net Income	-89.90	-1.48	-1.17	13.70	-0.25	-0.25	-	12.87	0.40	1.77	-1.32	1.80
Net Income - Continuous Operations	-91.98	-1.41	13.89	13.70	-	-0.25	-	12.87	0.40	1.77	-1.32	1.80
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-	-	-
EBITDA	-77.46	13.53	19.18	20.92	20.58	0.87	18.16	18.16	0.41	1.82	-1.16	2.54
EBIT	-92.61	2.74	13.76	-	15.97	-	14.30	-	-	-	-	-
Depreciation & Amortization	9.17	6.37	1.90	5.42	-	0.41	-	3.86	0.00	0.00	0.11	0.33
Earnings Per Share
Basic EPS	-8.00	-	2.00	5.00	-	-	-	-	-	1.00	-2.00	72.00
Diluted EPS	-8.00	-	-	5.00	-	-	-	-	-	1.00	-2.00	2.00
Basic Shares Outstanding	11.59	9.46	6.96	2.95	2.34	2.34	-	1.99	2.63	1.58	0.64	0.03
Diluted Shares Outstanding	11.59	9.46	6.96	2.95	2.34	2.34	-	2.69	2.63	2.32	0.64	1.00

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Meridian Holdings Financial Statements

What was Meridian Holdings's revenue in fiscal 2025?

Meridian Holdings reported revenue of $182.86M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 21.0% from $151.12M a year earlier.

Is Meridian Holdings profitable?

No. Meridian Holdings reported a net loss of $89.90M in fiscal 2025. In fiscal 2024 it lost $1.48M.

What is Meridian Holdings's operating margin?

Meridian Holdings's operating income was −$3.62M on revenue of $182.86M in fiscal 2025, an operating margin of -2.0%, compared with 1.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition