Quarterly ResultApr 28, 2026, 07:02 AM
MRDN Q1 Revenue +17% to $50.1M; Net Income $2.2M; Adj. EBITDA +26%
AI Summary
Meridian Holdings Inc. reported strong Q1 2026 financial results, achieving GAAP profitability for the first time under the Meridian Holdings brand with a net income of $2.2 million. Revenue increased 17% year-over-year to $50.1 million, in line with guidance, while Adjusted EBITDA rose 26% to $6.3 million, exceeding targets. The company also significantly strengthened its balance sheet, reducing net debt by 62% year-over-year to $13.4 million and achieving a net debt leverage of 0.53x. Meridianbet Group revenue grew 26% YoY, and the company issued Q2 2026 revenue guidance of $51 million to $53 million.
Key Highlights
- Returned to GAAP profitability with net income of $2.2 million ($0.18 diluted EPS).
- Revenue increased 17% YoY to $50.1 million, in line with guidance.
- Adjusted EBITDA rose 26% YoY to $6.3 million, exceeding guidance.
- Net debt reduced 62% YoY to $13.4 million; net debt leverage 0.53x.
- Meridianbet Group revenue up 26% YoY to $34.9 million.
- Expanse Studios expanded operator network to 1,519 sites, added 6 new titles.
- RKings & Classics for a Cause combined revenue $12.1 million, up 9% YoY.
- Issued Q2 2026 revenue guidance of $51 million to $53 million.
Price Impact
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