Quarterly ResultApr 28, 2026, 06:57 AM
MRDN Q1 Revenue +17.3% to $50.1M; EPS $0.18; Reverse Split
AI Summary
Meridian Holdings Inc. reported a significant turnaround in Q1 2026, with revenues increasing by 17.3% to $50.1 million and net income attributable to MRDN reaching $2.26 million, compared to a loss in the prior year. Basic EPS improved to $0.18 from a loss of $0.02. The company also completed a 1-for-12 reverse stock split and changed its name to Meridian Holdings Inc., effective March 3, 2026.
Key Highlights
- Reverse stock split (1-for-12) and name change to Meridian Holdings Inc. effective March 3, 2026.
- Q1 2026 revenues increased 17.3% to $50.1 million from $42.7 million in Q1 2025.
- Net income attributable to MRDN was $2.26 million in Q1 2026, up from a $0.23 million loss in Q1 2025.
- Basic EPS attributable to MRDN was $0.18 in Q1 2026, compared to $(0.02) in Q1 2025.
- Gross profit rose to $28.1 million in Q1 2026 from $24.2 million in Q1 2025.
- Cash and cash equivalents were $16.2 million as of March 31, 2026, down from $18.1 million at Dec 31, 2025.
- Net cash provided by operating activities decreased to $5.16 million in Q1 2026 from $7.74 million in Q1 2025.