Meridian Holdings, Inc. MRDN

13.36 0.12 0.91% as of 25 Sep
Market cap
$167.7M
P/E
0.0×
Growth Flags show if company had growth for consecutive years,
Insider Buys alert about insiders buying in the last 12 month

Insider Decisions

Total buys 0.05
Total sells 1.86
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — 3 — — — — — — — — — —
Sell — 1 2 — — 4 3 2 2 — — —
Insider Ownership 78.84%

Capital & Financial Ratios

Market Cap 167.68
Revenue 197.19
Net Income (83.86)
Free Cash Flow 20.90
Net Debt (7.10)
Current Ratio 0.59
Debt/Equity 0.20
P/E ratio 0.00
P/S ratio 0.86
P/B ratio 3.30
Past 5Y EPS Growth 44.63%
This Y EPS Growth 109.41%
Next Y EPS Growth 57.53%
Next 5Y EPS Growth —
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 17 30 18 17
Receivables 4 7 9 9
Inventory 2 4 6 5
Other 2 3 2 3
23 45 35 35
2023 2024 2025 Q'26
Payables 3 13 21 24
ST’ Debt — 17 11 10
Other 1 26 19 18
4 64 60 60
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 69.84% 81.31% 60.57%
Cash Flow 55.71% 81.96% 125.67%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 20.63% 15.83%

Revenue

Mar Jun Sep Dec Year
’26 50 50 — — —
’25 43 43 47 50 183
’24 25 39 41 59 151
’23 — — — 61 93
’23 — 23 22 — 44
’22 — — — — 36
’21 — — — — 9
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 5 8 — — —
’25 8 2 7 8 25
’24 4 3 5 17 24
’23 — — — 23 24
’23 — 10 15 — 2
’22 — — — — 3
’21 — — — — 1
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 4 6 — — —
’25 4 (4) 4 7 12
’24 2 (2) (3) 8 2
’23 — — — 10 11
’23 — 4 7 — 2
’22 — — — — 2
’21 — — — — 1
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.18 0.17 — — —
’25 (0.02) (0.36) 0.00 (7.09) (7.76)
’24 0.57 0.00 (0.36) (0.24) (0.12)
’23 — — — 1.94 2.00
’23 — 0.53 0.51 — (0.40)
’22 — — — — 0.02
’21 — — — — 0.24
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
270.00 1.80 1.80 1.80 1.80 48.00 22.68 23.40 22.68 8.44

Analyst estimates 2026–2028

Powerpack
Low Price
6,075,000.00 270.00 5.40 12.60 93.00 168.60 128.64 53.57 75.24 31.20
High Price
— — — — 2 17 30 31 1,200 1,200
Employees
0 0 0 0 0 1 1 0 0 0
Revenue/Emp
0 0 1 3 4 9 36 93 151 183
Revenue
0.00% 58.33% 92.14% 99.24% 96.75% 35.17% 25.43% 73.38% 58.61% 56.58%
Gross Margin
(10) 2 (1) 2 2 1 0 15 1 (97)
EBT
(50,031.00%) 1,500.92% (143.96%) 61.41% 54.97% 6.94% 1.29% 16.63% 0.80% (53.15%)
EBT Margin
(10) 2 (1) 2 2 1 0 14 (1) (92)
Net Income
5 0 0 0 0 0 0 5 11 15
Depreciation
13.33 0.36 0.12 1.84 0.19 4.69 15.43 13.37 15.98 15.78
Revenue/Sh
(6,761.24) 6.00 (0.17) 1.13 0.07 0.33 0.02 2.00 (0.12) (7.76)
Earnings/Sh
0.87 (0.05) 0.04 0.93 0.05 0.64 1.19 3.41 2.53 2.19
Cash Flow/Sh
0.00 0.00 0.00 0.00 0.00 (0.06) (0.16) (1.88) (2.32) (1.18)
Capex/Sh
0.87 (0.05) 0.04 0.93 0.05 0.58 1.02 1.52 0.20 1.01
Free CF/Sh
(2,654.27) (4.62) (0.17) 0.66 0.13 9.51 12.76 8.63 11.52 4.17
Book Value/Sh
0 0 8 2 19 2 2 7 9 12
Shares
0.00 0.55 0.00 2,571.43 312.31 257.12 42.34 140.80 0.00 0.00
PE Ratio
0.00 334.71 393.59 5.92 27.88 233.39 23.35 2.13 1.37 0.61
PS Ratio
0.00 0.00 0.00 16.52 19.76 115.08 28.23 3.35 2.06 2.30
PB Ratio
0.00 334.40 393.04 5.68 26.72 231.61 22.93 1.91 1.38 0.60
EV/Sales
(100.37) (1,114.67) 1,708.69 19.33 61.61 1,700.68 345.33 10.05 41.57 9.43
EV/FCF
0 0 0 1 1 1 3 24 24 25
Op' Cash Flow
— — — — — 0 0 (13) (22) (14)
Capex
0 0 0 1 1 1 2 11 2 12
FCF
(4) (2) (1) 1 2 19 17 9 (18) (24)
Working Cap'
2 1 1 1 0 0 0 — 32 17
Total Debt
2 1 0 (1) (2) (17) (15) (20) 2 (1)
Net Debt
(4) (2) (1) 1 2 19 30 60 109 48
Sh' Equity
(81,351.22%) 2,053.71% (160.80%) 92.54% 52.16% 3.78% (0.94%) 23.74% (1.01%) (54.19%)
ROA
0.00% 0.00% 0.00% 337.31% 0.00% 19.96% 0.80% 21.73% 1.55% (126.72%)
ROIC
251.32% (117.25%) 98.29% (1,149.29%) 78.18% 4.03% (1.03%) 30.09% (1.75%) (114.31%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Meridian Holdings, Inc. (MRDN) key facts

  • Meridian Holdings, Inc. (MRDN) is a Gambling company in the Consumer Cyclical sector, listed on Nasdaq.
  • Meridian Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $182.9 million, up 21.0% from fiscal 2024.
  • As of September 25, 2026, MRDN traded at $13.36, a market capitalization of $167.7 million.
  • Return on equity was −114.3% and debt-to-equity 0.20.

Source: company filings (standardised) and stockrow calculations.

Meridian Holdings, Inc. (MRDN) Latest News

News by impact score

Fine-tune

21 Sep

3

Meridian Holdings' Expanse Studios will exhibit at the Global Gaming Expo (G2E) in Las Vegas Sept. 28–Oct. 1, 2026, booth 4233. Expanse develops proprietary casino content for Meridian and third-party operators, with about 100 titles distributed to more than 1,800 casino brands and certifications in 15+ regulated markets, including Malta, Portugal, Sweden, Croatia, Romania, Bulgaria, Estonia, Latvia and Slovenia. At G2E, it will showcase its latest slots and crash games. Over the past year, Expanse expanded with new operator/aggregator partnerships and more jurisdictional certifications, enabling deployment under commercial agreements as signed. Meetings can be arranged via [email protected] or [email protected], or at booth 4233. Meridian, a B2B and B2C gaming group, operates Expanse and GMAG in its B2B division and Meridianbet in its B2C arm. Certifications in 15+ markets and expanded partnerships could broaden MRDN's addressable market and revenue opportunities.

4 Sep

3

Meridian Holdings subsidiary Expanse Studios signs distribution agreement with Casino Portoroz to enter Slovenian market. Subsidiary market entry via distribution deal offers moderate expansion opportunities without transforming core operations.

30 Jul

3

Meridian Holdings, Inc. reported 16% year-over-year revenue growth driven by record new customer registrations during the FIFA event. Revenue increase from elevated customer sign-ups points to moderately positive effects on near-term financial results and market perception.

29 Jul

4

Meridian Holdings Inc (MRDN) reported record revenue in its Q2 2026 earnings call. Record revenue signals major positive shift in financial performance and investor outlook for Meridian Holdings Inc.

3

Meridian Holdings, Inc. (MRDN) announces leadership team to drive next stage of global expansion. Leadership announcement for global expansion may moderately affect operations and market sentiment without guaranteed fundamental trajectory change.

3 transcript

Meridian Holdings, Inc. held its Q2 earnings call, covering financial results, operational updates and forward guidance for the company. Q2 earnings and guidance updates can moderately shift near-term investor sentiment and valuation without fundamentally changing long-term trajectory.

3

Meridian Holdings, Inc. (MRDN) reported its second quarter 2026 financial results. Quarterly earnings releases supply performance data that can shift investor sentiment and short-term valuation.

21 Jul

3

Meridian Holdings, Inc. (MRDN) sponsors high profile UFC MMA event distributed internationally. International UFC sponsorship delivers brand exposure likely to lift short-term visibility and sentiment without shifting core operations.

1 May

4

Meridian Holdings Inc. (MRDN) beat earnings expectations, leading analysts to issue new forecasts. Beating earnings expectations signals robust financial performance, likely prompting upward analyst revisions and boosting stock trajectory.

29 Apr

4

Meridian Holdings, Inc. (MRDN) issued 2Q26 revenue guidance projecting 18%-23% year-over-year growth. Strong forward revenue growth guidance signals robust future performance and likely enhances investor sentiment.

28 Apr

4

Meridian Holdings (NASDAQ:MRDN) Q1 results show growing profitability and improved balance sheet stability. Strong Q1 profitability growth and balance sheet improvements indicate significant positive momentum for future financial performance and investor sentiment.

3

Meridian Holdings, Inc. (MRDN) reported its Q1 2026 financial results. Quarterly financial results influence key financial performance and investor sentiment with moderate impact.

15 Apr

4

Expanse Studios launches proprietary jackpot and tournament system, enhancing gaming offerings for Meridian Holdings, Inc. (MRDN). Proprietary jackpot and tournament system launch marks a major strategic product innovation strengthening MRDN's competitive position.

14 Apr

4

Analyst maintains Buy rating on Meridian Holdings (NASDAQ:MRDN) due to record revenue and balance sheet transformation offsetting near-term headwinds. Record revenue and balance sheet transformation represent major financial improvements that could significantly boost investor sentiment and company trajectory.

9 Apr

4

Expanse Studios, part of Meridian Holdings, secures regulatory certification to enter Portugal's iGaming market, enabling legal operations and expansion into a key European jurisdiction. Market entry certification in Portugal opens new revenue streams and strengthens competitive positioning in Europe's regulated iGaming sector.

7 Apr

3

Analysts argue Meridian Holdings (MRDN) noncash charge conceals positive underlying business trends. Noncash charge downplayed as masking positive trends, likely to moderately lift investor sentiment and financial outlook.

31 Mar

4

Meridian Holdings Inc (MRDN) Q4 2025 earnings call highlights record revenue amidst challenges. Record Q4 2025 revenue represents a significant financial milestone likely to enhance investor sentiment and future performance.

4

Meridian Holdings, Inc. (MRDN) reported record fourth quarter revenue of $49.6 million and record full-year 2025 revenue of $182.9 million. Record revenues indicate strong financial performance likely to enhance investor sentiment and future market valuation.

25 Mar

4

Meridianbet (MRDN) launched a redesigned betting platform in Malta, incorporating additional AI tools and new betting features. Redesigned platform with AI tools and new betting features marks a major upgrade to core operations, boosting competitiveness and user engagement.

19 Mar

3

Gamma Resources announces debt settlement and exercises of warrants by insiders. Debt settlement strengthens balance sheet while insider warrant exercises indicate confidence in future prospects.

13 Mar

3

Expanse Studios enters content deployment partnership with Stake, positioning Meridian Holdings (MRDN) for expanded market reach. Partnership enables broader content distribution, moderately enhancing MRDN's revenue potential and competitive stance.

10 Mar

4

Expanse Studios, part of Meridian Holdings, Inc. (MRDN), secures certification to enter the regulated iGaming markets of Estonia and Latvia, enabling market expansion and new revenue opportunities. Certification unlocks entry into two new regulated European markets, significantly enhancing MRDN's geographic reach and growth potential.

9 Mar

3

Meridian Holdings, Inc. (MRDN) virtual meeting with management produced positive takeaways. Positive management takeaways signal moderate improvements in operations and investor sentiment.

4 Mar

4

Expanse Studios, part of Golden Matrix Group, Inc. (GMGI), launches proprietary Bonus Bet feature to enhance iGaming offerings. Proprietary Bonus Bet launch by Expanse Studios bolsters GMGI's product innovation and competitive positioning in iGaming.

3 Mar

3

Meridian Holdings Inc., formerly Golden Matrix Group, Inc., announces commencement of trading under new ticker MRDN. Rebranding from Golden Matrix Group to Meridian Holdings with new ticker MRDN signals potential strategic shifts influencing market sentiment and company trajectory.

2 Mar

4

Institutional confidence in Golden Matrix Group (GMGI) strengthened in Q4 2025. Strengthened institutional confidence indicates major positive shifts in investor sentiment and market dynamics for GMGI.

27 Feb

4

Expanse Studios announces multi-market European partnership with ESA Gaming to expand Golden Matrix Group (GMGI) offerings across key regulated markets. Multi-market European partnership via Expanse Studios represents a major strategic expansion boosting GMGI's international revenue and competitive positioning.

24 Feb

3

Golden Matrix Group, Inc. (GMGI) previews earnings by prioritizing solid fundamentals over market hype. Earnings preview emphasizing fundamentals over hype moderately influences financial performance expectations and investor sentiment.

23 Feb

3

Golden Matrix Group's Expanse Studios portfolio has launched on the licensed Meridianbet.be platform in Belgium, expanding its iGaming content distribution into the regulated Belgian market. Entry into Belgium's regulated market via a key platform strengthens GMGI's European footprint and potential revenue streams without fundamentally transforming its overall trajectory.

17 Feb

3

Expanse Studios launches the first celebrity-branded slot game ‘VASO Psycho’ featuring MMA icon Vaso Bakocevic. Celebrity-branded slot launch boosts product innovation and competitive appeal but impact is moderated by iGaming market dynamics.

stockrow.com/MRDN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com