Meridian Holdings Inc. MRDN R2K

Communication Services · Electronic Gaming & Multimedia · United States

Meridian Holdings Inc., a business-to-business and business-to-consumer gaming technology company, provides casino, sportsbook, and competition products in Central and South America, Europe, and Africa. It develops and licenses gaming platforms; and provides online sports betting and gaming operations under various brands, including Meridianbet, Expanse Studios, MexPlay, R Kings Competitions, Classics For A Cause, and GMAG. Meridian Holdings Inc. is based in Las Vegas, Nevada.

Market & Price

Market Cap

$147.15M

Current Price

$11.63

High / Low (52W)

$23.04 / $6.07

Beta

1.41

Valuation

Stock P/E

Industry PE

23.46

Forward P/E

PEG Ratio

Book Value

$3.86

Price to Book

3.01

P/S

0.77

EV/EBITDA

11.69

Dividend Yield

Profitability & Returns

ROCE

ROE

-110.01%

ROA

-0.42%

Profit Margin

-45.94%

Op Margin

6.30%

EPS (Latest Qtr)

$0.18

EPS (TTM)

$-7.56

Balance Sheet & Liquidity

Debt/Equity

0.37

Quick Ratio

0.47

Current Ratio

0.57

Debt

$18.89M

Total Assets

$118.08M

Current Assets

$35.44M

Working Capital

$-24.13M

Ownership

Promoter Holding

82.95%

Chg in Prom Hold

FII / Inst Holding

4.09%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$151.16M

Total Revenue (TTM)

$190.24M

EBITDA

$12.94M

Free Cash Flow

$4.78M

Operating Cash Flow

$22.77M

Shares Outstanding

12.65M

Gross Margin

56.46%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

60.57%

Profit 5Y

-2,521.85%

Revenue (YoY)

17.30%

Earnings (YoY)

PROS

Compounding revenue at 60.6% over 5 years.
Generates positive free cash flow.

CONS

Earnings shrank at -2521.9% CAGR over 5 years.
Trading 49.5% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Communication Services).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	MRDN Meridian Holdings Inc. R2K	11.63	-	$147.15M	-	-	-110.01%	60.57%	-2,521.85%
2	GOOGL Alphabet Inc. NDXSPXAI	380.34	28.99	$4.61T	0.23%	32.40%	38.88%	12.51%	30.14%
3	META Meta Platforms, Inc. NDXSPXAI	632.51	22.99	$1.61T	0.33%	26.87%	32.93%	19.89%	37.61%
4	NFLX Netflix, Inc. NDXSPXAI	86.02	27.75	$362.21B	-	30.26%	48.49%	12.64%	34.71%
5	APP AppLovin Corporation NDXSPXAI	613.09	53.17	$205.96B	-	70.20%	-	24.84%	609.87%
6	TMUS T-Mobile US, Inc. NDXSPX	187.53	19.93	$202.95B	2.18%	9.27%	18.02%	3.53%	61.90%
7	VZ Verizon Communications Inc. SPX	47.81	11.66	$199.63B	5.92%	8.59%	17.20%	0.33%	-6.86%
8	DIS The Walt Disney Company SPX	101.83	16.29	$176.83B	1.47%	8.46%	11.01%	4.51%	58.00%
9	T AT&T Inc. SPX	24.80	8.16	$172.32B	4.48%	9.23%	18.37%	1.34%	119.18%

Quarterly Results

Figures in USD.

Metric	Jan 2015	Apr 2015	Oct 2015	Jan 2016	Apr 2016	Oct 2016	Jan 2017	Apr 2017	Oct 2017	Jan 2018	Apr 2018	Oct 2018	Jan 2019	Apr 2019	Jul 2019	Oct 2019	Jan 2020	Apr 2020	Jul 2020	Oct 2020	Jan 2021	Apr 2021	Jul 2021	Jan 2022	Apr 2022	Jul 2022	Jan 2023	Apr 2023	Jun 2023	Jul 2023	Sep 2023	Jan 2024	Mar 2024	Jun 2024	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	633	2.12K	162.77K	287.25K	362.28K	308.51K	203.20K	514.06K	920.70K	1.95M	2.64M	3.25M	8.88M	8.48M	9.10M	10.78M	10.31M	22.58M	11.31M	22.21M	11.84M	24.85M	39.42M	40.99M	42.72M	43.25M	47.32M	49.58M	50.10M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18.53M	18.87M	20.93M	21.08M	21.96M
Gross Profit	0	-	0	0	-	-	-	-	30.00K	30.00K	345.15K	569.17K	644.56K	522.32K	1.12M	849.65K	851.72K	703.27K	650.69K	872.42K	996.62K	1.15M	1.21M	2.02M	2.54M	2.48M	2.44M	2.06M	16.54M	2.14M	16.09M	3.38M	17.69M	21.69M	22.40M	24.20M	24.38M	26.39M	28.50M	28.14M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24.30M	26.68M	26.77M	29.32M	24.99M
Operating Income	-828.56K	-246.97K	-251.24K	-642.72K	-658.28K	-57.67K	-121.22K	-32.71K	-65.75K	-77.01K	-19.99K	356.64K	407.14K	293.24K	-	548.83K	443.43K	234.59K	93.36K	41.61K	29.76K	141.47K	510.78K	403.96K	758.53K	729.31K	-328.95K	-490.73K	3.93M	-892.10K	3.23M	279.20K	3.69M	125.11K	-976.38K	-106.02K	-2.30M	-387.62K	-826.04K	3.16M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.47M	2.05M	5.12M	-89.09M	5.68M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.47M	1.48M	510.64K	1.12M	353.73K
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-594.27K	-3.24M	615.44K	-93.97M	2.86M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-336.05K	490.38K	201.64K	-5.56M	696.13K
Net Income	-1.05M	-389.53K	-1.63M	-1.66M	-22.48M	1.26M	169.89K	200.23K	-458.04K	84.48K	-35.25K	332.00K	421.79K	279.32K	736.79K	545.89K	438.80K	229.74K	85.62K	30.56K	52.16K	127.99K	484.61K	413.67K	701.45K	679.65K	-443.52K	-533.75K	3.72M	-965.63K	3.48M	74.50K	3.99M	64.92K	-3.41M	-231.61K	-3.58M	566.01K	-86.65M	2.26M
Diluted EPS	0.00	-	-	-	-15.12	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.03	0.02	0.00	0.01	0.00	0.00	0.00	0.00	0.01	0.01	0.02	0.02	-0.01	-0.01	0.04	-0.03	0.04	0.00	0.05	0.00	-0.03	-0.02	-0.36	0.00	-7.09	0.18
R&D Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	18.67K	28.89K	21.22K	68.05K	20.21K	1.20K	570	-	-	-	-	-	-	-	-	-	0	-	-	-	228.82K

Profit & Loss (Annual)

Figures in USD.

Metric	Jul 2009	Jul 2010	Jul 2011	Jul 2012	Jul 2013	Jul 2014	Jul 2015	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jan 2021	Oct 2021	Oct 2022	Oct 2023	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	20.00K	120.00K	0	452.77K	5.22M	11.29M	-	44.17M	92.99M	151.12M	182.86M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34.31M	24.75M	62.54M	79.41M
Gross Profit	-	-	-	-	-	0	0	20.00K	70.00K	843.80K	2.86M	3.22M	-	-	9.87M	68.24M	88.57M	103.46M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.40M	54.18M	84.47M	107.08M
Operating Income	-	-	-	-227.70K	-163.40K	-518.38K	-2.04M	-5.20M	-250.44K	-990.95K	1.81M	399.32K	-	-	-526.25K	14.06M	4.10M	-3.62M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.27K	20.92M	15.52M	-77.46M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12.40K	36.16K	3.52M	4.58M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-489.44K	15.47M	1.21M	-97.19M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	683.31K	1.57M	2.62M	-5.21M
Net Income	-102.80K	-7.50M	-6.30M	-298.29K	-471.97K	-1.38M	-2.62M	-10.01M	1.80M	-1.32M	1.77M	398.08K	-	-	-1.17M	13.70M	-1.48M	-89.90M
Diluted EPS	-	-	-	-0.01	-0.01	-0.01	-	-45.08	0.00	-0.17	0.06	0.01	-	-	-0.36	1.92	-0.16	-7.76
R&D Expense	-	-	-	-	-	-	-	-	-	0	0	47.56K	-	23.09K	-	-	6.07M	7.10M

Compounded Sales Growth

5 Years:	60.57%
1 Year:	17.30%

Compounded Profit Growth

5 Years:	-2,521.85%
1 Year:	-

Stock Price Performance

1 Year:	-47.89%
6 Months:	+23.15%
3 Months:	+67.10%
1 Month:	+42.87%

Balance Sheet (Annual)

Figures in USD.

Metric	Jul 2008	Jul 2009	Jul 2010	Jul 2011	Jul 2012	Jul 2013	Jul 2014	Jul 2015	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jan 2020	Jan 2021	Oct 2021	Oct 2022	Dec 2022	Oct 2023	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	-	47.59K	102.61K	86.69K	164.88K	148.12K	12.30K	87.67K	819.87K	3.01M	3.71M	13.81M	-	-	-	35.58M	79.85M	213.72M	118.08M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22.85M	26.93M	45.07M	35.44M
Cash & Equivalents	-	-	52.15K	47.11K	15.62K	14	636	0	2.30K	25.17K	446.58K	1.73M	1.86M	11.71M	-	-	-	17.10M	20.41M	30.13M	18.08M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.71M	133.91K	3.94M	5.52M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.55M	2.67M	6.06M	7.95M
Total Liabilities	-	-	-	129.75K	291.13K	339.76K	1.09M	2.97M	3.99M	1.62M	2.16M	1.97M	1.23M	552.61K	-	-	-	4.48M	19.87M	104.77M	69.74M
Current Liabilities	-	-	-	129.75K	291.13K	339.76K	1.09M	2.97M	3.99M	1.62M	2.16M	1.83M	1.23M	552.61K	-	-	-	4.48M	17.57M	63.55M	59.57M
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.36M	6.59M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	59.09K	4.15M	39.35M	23.39M
Total Equity	-9.09K	482	-35.24K	-82.16K	-188.52K	-	-929.63K	-2.82M	-3.98M	-1.54M	-1.34M	1.03M	2.47M	13.26M	-	-	47.06M	31.10M	59.03M	105.07M	46.55M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.01M	3.02M	10.78M	12.64M

Cash Flows (Annual)

Figures in USD.

Metric	Jul 2011	Jul 2012	Jul 2013	Jul 2014	Jul 2015	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jan 2021	Oct 2022	Oct 2023	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-250.39K	-224.87K	-256.81K	-612.07K	-2.01M	1.30K	-15.13K	302.72K	1.45M	1.88M	-	2.21M	23.69M	23.92M	25.36M
Investing Cash Flow	-	-6.97K	-	0	0	-	-	0	0	192	-	-95.96K	-13.07M	-37.43M	-22.00M
Financing Cash Flow	250.00K	193.43K	241.35K	612.69K	2.01M	1.00K	38.00K	118.70K	-167.42K	7.97M	-	-32.32K	-4.15M	27.71M	-19.40M
Capital Expenditure	-	1.97K	-	-	-	-	-	-	-	-	-	-65.25K	-13.09M	-21.99M	-13.65M
Free Cash Flow	-	-222.90K	-	-	-	-	-	-	-	-	-	2.14M	10.60M	1.92M	11.71M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	2.08M	6.47M	14.19M	-16.05M
Share Buybacks	-	-	-	-	-	-	-	-	-	-	0	32.32K	-	-	3.00M
Dividends Paid	-	-	-	-	-	-	-	-	-	-	-	-	1.80M	769.53K	144.78K

Ratios (Annual)

Figures in %.

Metric	Jul 2009	Jul 2010	Jul 2011	Jul 2012	Jul 2013	Jul 2014	Jul 2015	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jan 2021	Oct 2021	Oct 2022	Oct 2023	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	100.0%	58.3%	-	631.7%	61.7%	-	-	22.3%	73.4%	58.6%	56.6%
Operating Margin %	-	-	-	-	-	-	-	-25,981.8%	-208.7%	-	400.3%	7.6%	-	-	-1.2%	15.1%	2.7%	-2.0%
Net Margin %	-	-	-	-	-	-	-	-50,031.2%	1,500.9%	-	390.9%	7.6%	-	-	-2.7%	14.7%	-1.0%	-49.2%
ROE %	-21,328.6%	21,270.6%	7,673.7%	158.2%	-	148.5%	92.8%	251.3%	-117.2%	98.3%	171.3%	3.0%	-	-	-3.8%	23.2%	-1.4%	-193.1%
ROCE %	-	-	-	120.8%	64.6%	55.8%	72.3%	130.5%	16.3%	73.9%	153.8%	3.0%	-	-	-1.7%	22.6%	2.7%	-6.2%

Shareholding Pattern

Insiders

82.95%

Institutions

4.09%

Public Float

23.99%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Topline Capital Management, LLC	1.11%	140.27K	$1.63M
2	Blackrock Inc.	0.75%	95.24K	$1.11M
3	Geode Capital Management, LLC	0.56%	70.77K	$823.01K
4	Whetstone Capital Advisors, LLC	0.50%	63.32K	$736.40K
5	Vanguard Capital Management LLC	0.21%	26.30K	$305.90K
6	Vanguard Fiduciary Trust Co	0.12%	15.34K	$178.35K
7	UBS Group AG	0.11%	14.47K	$168.25K
8	Northern Trust Corporation	0.11%	14.15K	$164.55K
9	Susquehanna International Group, LLP	0.09%	11.19K	$130.19K
10	Vanguard Portfolio Management LLC	0.08%	10.43K	$121.24K

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MRDN · Communication Services