Valuation, from the filing
| Public float | $36.07M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $2.85 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 0.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.7× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
1703.1× earnings today, against a median of 44.3× across 4 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2022-04-30 | $74.98M | 1703.1× | |
| 2020-07-31 | $34.88M | 87.6× | |
| 2019-01-31 | $1.62M | 0.9× | |
| 2017-01-31 | $84.52K | 0.0× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Services-Prepackaged Software filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| R&D / revenue | 3.9% | 6th | |
| SBC / revenue | 2.2% | 7th | |
| Current ratio | 0.59x | 18th | |
| CapEx / revenue | 3.4% | 81th | |
| Long-term debt / equity | 0.14x | 22th | |
| Operating margin | -52.6% | 22th | |
| Net margin | -50.3% | 24th | |
| Revenue YoY growth | 21.0% | 73th | |
| Gross margin | 56.6% | 29th | |
| FCF margin | 10.5% | 40th |
Meridian Holdings Inc./NV (MRDN) reported revenue of $190.24M and net income of -$89.58M for the fiscal year ended 2026-03-31. This page shows 1 annual period 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
| Metric | 2026-03-31 |
|---|---|
| Revenue | $190.24M |
| Cost of revenue | $82.84M |
| Gross profit | $107.40M |
| Operating income | -$92.91M |
| Net income | -$89.58M |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | -$93.73M |
| Income tax expense | -$4.17M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $200.31M |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-03-31 |
|---|---|
| Cash & equivalents | Unavailable |
| Total assets | $111.87M |
| Current assets | $30.48M |
| Total liabilities | $61.44M |
| Current liabilities | $53.26M |
| Total equity incl. NCI | $50.43M |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $4.86M |
| Accounts receivable | $5.50M |
| Goodwill | $8.84M |
| Long-term debt | $4.85M |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-03-31 |
|---|---|
| Operating cash flow | $22.77M |
| Capital expenditures | Unavailable |
| Investing cash flow | -$19.13M |
| Financing cash flow | -$18.98M |
| Net change in cash | -$13.43M |
| Stock-based compensation | $3.30M |
| Common dividends paid | Unavailable |
| Common share repurchases | Unavailable |
| Depreciation & amortization | Unavailable |
Derived
| Metric | 2026-03-31 |
|---|---|
| Free cash flow | Unavailable |
| Gross margin | 56.5% |
| Operating margin | -48.8% |
| FCF margin | Unavailable |
| SBC / revenue | 1.7% |
| Current ratio | 0.57x |
| Revenue YoY growth | 12.6% |
| Net margin | -47.1% |
| R&D / revenue | Unavailable |
| CapEx / revenue | Unavailable |
| Long-term debt / equity | 0.10x |
| Effective tax rate | Unavailable |
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
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.