SequelSEC

Meridian Holdings Inc./NV MRDN

Services-Prepackaged Software · CIK 0001437925 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$182.86M
Fiscal year ended 2025-12-31
Operating income
-$96.17M
Fiscal year ended 2025-12-31
Free cash flow
$19.17M
Fiscal year ended 2025-12-31

Meridian Holdings Inc./NV (MRDN) reported revenue of $182.86M and net income of -$91.98M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from Meridian Holdings Inc./NV’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Prepackaged Software.

Income

Meridian Holdings Inc./NV income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312023-10-312022-10-312021-10-312021-01-312019-07-312018-07-312017-07-31
Revenue$182.86M$151.12M$92.99M$44.17M$36.03M$11.29M$5.22M$452.77K$0$120.00K
Cost of revenue$79.41M$62.54M$24.75M$34.31M$26.87M$7.01M$2.00MUnavailable$72.00K$50.00K
Gross profit$103.46M$88.57M$68.24M$9.87M$9.16MUnavailable$3.22MUnavailable$843.80K$70.00K
Operating income-$96.17M$2.74M$13.76M-$526.25K$192.49KUnavailable$399.32K$1.81M-$990.95K-$250.44K
Net income-$91.98M-$1.41M$13.70M-$1.17M$44.03KUnavailable$398.08K$1.77M-$1.32M$1.80M
Research & development$7.10M$6.07MUnavailableUnavailable$23.09KUnavailable$47.56K$0$0Unavailable
Weighted-average diluted sharesshares 11.59Mshares 9.46Mshares 83.48Mshares 35.42Mshares 28.04MUnavailableshares 31.59Mshares 4.14Bshares 1.16Bshares 1.80B
Pretax income-$97.19M$1.21M$15.47M-$489.44K$463.08KUnavailable$398.08KUnavailableUnavailableUnavailable
Income tax expense-$5.21M$2.62M$1.57M$683.31K$419.05KUnavailable$0UnavailableUnavailableUnavailable
Diluted EPS$-7.76$-0.16$0.16$-0.03$-0.01Unavailable$0.01$0.06$-0.17$0.00
Selling, general & administrative$199.63M$85.83M$54.48MUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrativeUnavailableUnavailableUnavailable$8.43M$6.13MUnavailable$566.59KUnavailable$186.04K$385
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Meridian Holdings Inc./NV balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312023-10-312022-10-312021-10-312021-01-312019-07-312018-07-312017-07-31
Cash & equivalentsUnavailableUnavailableUnavailableUnavailable$14.95M$16.80M$11.71M$1.73M$446.58K$25.17K
Total assets$118.08M$213.72M$79.85M$35.58M$32.57M$20.46M$13.81M$3.01M$819.87K$87.67K
Current assets$35.44M$45.07M$26.93M$22.85M$19.29M$20.04M$13.81M$3.01M$819.87K$87.67K
Total liabilities$69.74M$104.77M$19.87M$4.48M$2.77M$1.53M$552.61K$1.97M$2.16M$1.62M
Current liabilities$59.57M$63.55M$17.57M$4.48M$2.72M$1.35M$552.61K$1.83M$2.16M$1.62M
Total equity incl. NCI$48.34M$108.95M$59.99M$31.10M$29.80M$18.93M$13.26M$1.03M-$1.34M-$1.54M
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Inventory$5.52M$3.94M$133.90K$1.71M$1.15M$0$0UnavailableUnavailableUnavailable
Accounts receivable$7.95M$6.06M$2.67M$3.55M$2.64M$1.76M$1.04M$264.56K$10.00K$62.50K
Goodwill$8.45M$71.25MUnavailable$10.38M$10.45M$0UnavailableUnavailableUnavailableUnavailable
Long-term debt$6.59M$14.36M$0UnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

Meridian Holdings Inc./NV cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312023-10-312022-10-312021-10-312021-01-312019-07-312018-07-312017-07-31
Operating cash flow$25.36M$23.92M$23.69M$2.21M$2.77MUnavailable$1.88M$1.45M$302.72K-$15.13K
Capital expenditures$6.18M$7.16M$5.74M$12.46K$36.76KUnavailableUnavailableUnavailableUnavailableUnavailable
Investing cash flow-$22.00M-$37.43M-$13.07M-$95.96K-$4.41MUnavailable$192$0$0Unavailable
Financing cash flow-$19.40M$27.71M-$4.15M-$32.32K$32.00KUnavailable$7.97M-$167.42K$118.70K$38.00K
Net change in cash-$12.05M$9.72M$7.30M$2.15M-$1.85MUnavailable$9.85M$1.28M$421.41K$22.87K
Stock-based compensation$4.09M$4.71MUnavailable$2.18M$2.66MUnavailable$1.91M$206.84K$107.30KUnavailable
Common dividends paid$144.78K$769.53K$1.80MUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchases$3.00MUnavailableUnavailable$32.32K$0UnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortizationUnavailable$442.32K$1.90M$439.93K$384.59KUnavailableUnavailableUnavailable$107.30K$327.65K

Derived

Meridian Holdings Inc./NV derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312023-10-312022-10-312021-10-312021-01-312019-07-312018-07-312017-07-31
Free cash flow$19.17M$16.75M$17.95M$2.19M$2.73MUnavailableUnavailableUnavailableUnavailableUnavailable
Gross margin56.6%58.6%73.4%22.3%25.4%UnavailableUnavailable631.7%UnavailableUnavailable
Operating margin-52.6%1.8%14.8%-1.2%0.5%UnavailableUnavailable400.3%UnavailableUnavailable
FCF margin10.5%11.1%19.3%5.0%7.6%UnavailableUnavailableUnavailableUnavailableUnavailable
SBC / revenue2.2%3.1%Unavailable4.9%7.4%UnavailableUnavailableUnavailableUnavailableUnavailable
Current ratio0.59x0.71x1.53x5.10x7.10x14.86x25.00x1.65x0.38x0.05x
Revenue YoY growth21.0%62.5%Unavailable22.6%219.3%UnavailableUnavailableUnavailable-100.0%Unavailable
Net margin-50.3%-0.9%14.7%-2.7%0.1%Unavailable7.6%390.9%UnavailableUnavailable
R&D / revenue3.9%4.0%UnavailableUnavailableUnavailableUnavailableUnavailable0.0%UnavailableUnavailable
CapEx / revenue3.4%4.7%6.2%0.0%0.1%UnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt / equity0.14xUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailable216.7%10.2%Unavailable90.5%Unavailable0.0%UnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MRDN in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-04-28View SEC filing
10-K · Filed 2026-03-31View SEC filing
10-Q · Filed 2025-10-30View SEC filing
10-Q · Filed 2025-08-06View SEC filing
10-Q · Filed 2025-05-08View SEC filing
10-K · Filed 2025-03-24View SEC filing

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Reconciliation checks needing review

2 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

gross profit bridgeinconsistent2021-10-31

Withheld: gross profit could not be reconciled with the rest of this filer’s statement.

gross profit bridgeinconsistent2019-07-31

Withheld: cost revenue, gross profit could not be reconciled with the rest of this filer’s statement.