Meridian (NASDAQ:MRDN) Posts Quarterly Earnings Results

Meridian (NASDAQ:MRDN) posted its quarterly earnings data on Tuesday. The company reported $0.18 earnings per share for the quarter, FiscalAI reports. Meridian had a negative net margin of 49.16% and a negative return on equity of 87.11%. The firm had revenue of $50.10 million for the quarter.

Here are the key takeaways from Meridian’s conference call:

• First GAAP profitable quarter — net income of $2.2M ($0.18/share) and Adjusted EBITDA of $6.3M, which exceeded prior guidance.
• Top-line growth — revenue rose 17% YoY to $50.1M, led by Meridianbet ($34.9M, +26%) with strong user metrics (registrations +41%, active users +21%, depositors +27%).
• Stronger balance sheet and cash flow — total debt down 54% YoY, net debt down 62%, cash $16.2M, operating cash flow $5.2M and net leverage ~0.53x adjusted EBITDA.
• Brazil scaling risk — Brazil is strategically important but heavily regulated; onboarding/KYC and post-license requests have slowed monetization and mean near-term returns may be delayed.
• Mixed segment outlook — GMAG revenue declined 18% while MexPlay registrations surged 271%, and Expanse Studios is expanding distribution but awaits material approvals in New Jersey and Ontario that could be catalysts if granted.

Meridian Price Performance

Meridian stock traded up $1.80 during trading hours on Thursday, reaching $9.94. The stock had a trading volume of 128,435 shares, compared to its average volume of 25,282. The firm has a market cap of $125.65 million, a PE ratio of -1.33 and a beta of 0.28. Meridian has a 52 week low of $5.80 and a 52 week high of $23.76. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.14.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on shares of Meridian in a report on Tuesday, April 7th. They set a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Meridian has an average rating of “Sell” and an average target price of $21.60.

Insider Transactions at Meridian

In other Meridian news, CEO Anthony Brian Goodman sold 4,603 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $6.34, for a total value of $29,183.02. Following the sale, the chief executive officer owned 523,659 shares of the company’s stock, valued at $3,319,998.06. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 48,753 shares of company stock valued at $337,871. 9.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Meridian

A number of large investors have recently added to or reduced their stakes in the company. Marex Group plc bought a new stake in Meridian in the 2nd quarter worth $26,000. State Street Corp grew its holdings in Meridian by 25.6% in the 4th quarter. State Street Corp now owns 99,899 shares of the company’s stock worth $80,000 after acquiring an additional 20,343 shares during the last quarter. Susquehanna International Group LLP grew its holdings in Meridian by 33.7% in the 3rd quarter. Susquehanna International Group LLP now owns 114,409 shares of the company’s stock worth $129,000 after acquiring an additional 28,819 shares during the last quarter. Virtu Financial LLC bought a new stake in Meridian in the 3rd quarter worth $33,000. Finally, Marshall Wace LLP bought a new stake in Meridian in the 2nd quarter worth $57,000. Institutional investors own 2.74% of the company’s stock.

Meridian Company Profile

Meridian Holdings Inc is engaged in the online gaming and betting business, providing sports betting, online casino, and gaming operations across multiple jurisdictions in Europe, Africa, and Central and South America. The company has three reportable segments: MeridianBet Group, GMAG, and RKings & CFAC. The MeridianBet Group segment includes retail and online sports betting, casinos, and related gaming operations. The GMAG segment focuses on the resale of third-party gaming content, mainly serving customers in the Asia-Pacific region.