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Meridian Holdings, Inc. MRDN Q4 2025 Annual earnings

Reported March 31, 2026 · Before market open

Revenue$49.6MMiss by $3.3MDiluted EPS-$7.09Miss by $7.13
Revenue estimate$52.9M
EPS estimate$0.04

Next report

Aug 5, 2026 (in a month)
Revenue estimate$52.4M
EPS estimate$0.15

Financials

Q4 2025

Income statement

See full
Revenue$49.6M+8.1%
Gross profit$28.5M+6.4%
Operating income-$93.4M—
Net income-$88.7M-4,208%
EPS (diluted)-$7.74-4,453%

Balance sheet

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Cash & equivalents$18.1M-40.0%
Total debt$23.4M-39.6%
Total equity$46.5M-55.7%
Total assets$118.1M-44.8%

Cash flow

See full
Operating cash flow$8.2M-50.5%
CapEx$1.8M-44.7%
Free cash flow$6.4M-51.9%

Valuation & ratios

Valuation

as of 07/02/26
See full
Market cap$176.12M—
Enterprise value$178.78M—
P/S0.9×—

Profitability

See full
Gross margin56.6%-2.0pp
Operating margin-52.6%-54.5pp
Net margin-50.3%-51.3pp
FCF margin10.5%—

Returns & leverage

See full
Return on equity-121.4%-123pp
Debt / equity0.5×+0.1×
Current ratio0.6×-0.1×

Segments

By geography

See full
Europe UK Excl$28.8M+13.9%
GB$8.8M-4.7%
Africa$4.4M+18.8%
Asia Pacific$2.9M-17.1%
Central And South America$2.5M+34.8%

Versus estimates

Revenue

Q4 2025$49.6MMiss by $3.3M
Q3 2025$47.3MMiss by $5.5MQ2 2025$43.2MMiss by $6.8MQ1 2025$42.7MMiss by $394.0KQ4 2024$45.9MBeat by $2.7MQ3 2024$41.0M

Diluted EPS

Q4 2025-$7.09Miss by $7.13
Q3 2025$0.05Beat by $0.06Q2 2025-$0.03Miss by $0.03Q1 2025-$0.02Miss by $0.03Q4 2024-$0.01Miss by $0.02Q3 2024-$0.03

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Questions, answered.

When did Meridian Holdings, Inc. report Q4 2025 earnings?
Meridian Holdings, Inc. (MRDN) reported Q4 2025 earnings on March 31, 2026 before market open.
What were Meridian Holdings, Inc. 's Q4 2025 revenue and EPS?
Meridian Holdings, Inc. reported revenue of $49.6M and diluted EPS of $-7.09 for Q4 2025.
Did Meridian Holdings, Inc. beat estimates in Q4 2025?
Revenue missed the consensus estimate of $52.9M by $3.3M. EPS missed the consensus estimate of $0.04 by $7.13.
How did Meridian Holdings, Inc. 's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 8.1% from $45.9M a year earlier and diluted EPS declined 70800.0% from $-0.01.
Where can I find Meridian Holdings, Inc. 's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001477932-26-001762) and the 10-K periodic report (0001477932-26-001750) directly on SEC EDGAR. The filing index links above go to sec.gov.