Meridian (NASDAQ:MRDN) Releases Earnings Results

Posted by Brian Himes on Nov 10th, 2026

Meridian (NASDAQ:MRDN – Get Free Report) posted its earnings results on Tuesday. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($1.19), FiscalAI reports. The company had revenue of $45.96 million for the quarter. Meridian had a negative return on equity of 117.87% and a negative net margin of 41.41%.

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

Q3 results weakened: revenue fell 3% year over year to $46 million and Adjusted EBITDA dropped to $0.4 million from $4.8 million. Meridian reported a $13.3 million net loss, including $11.5 million in non-cash impairment charges.
Meridian suspended Brazilian operations after a regulatory ban and does not expect to resume them during 2026; it wrote off the related license and assets. The company says it will maintain a minimal local presence and pursue legal options, but the outcome remains uncertain.
The company generated $17.7 million in operating cash flow over the first nine months, repaid $9 million of debt, and reduced net debt for a seventh consecutive quarter. Online casino revenue grew 21% over that period, while online sports betting revenue increased 12%.
Meridian forecast 2026 revenue of $195 million–$198 million, with the outlook assuming no Brazil operations and continued lower revenue from RKings and Classics for a Cause. Management said it is focused on improving margins and controlling costs to return to first-half profitability.

Meridian Price Performance

NASDAQ MRDN traded down $1.80 during trading hours on Tuesday, reaching $6.40. The company’s stock had a trading volume of 41,410 shares, compared to its average volume of 49,244. The firm has a fifty day simple moving average of $11.81 and a 200-day simple moving average of $11.39. The stock has a market cap of $81.15 million, a P/E ratio of -0.95 and a beta of 0.73. Meridian has a 52 week low of $5.80 and a 52 week high of $16.09.

Institutional Investors Weigh In On Meridian

A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Meridian in the 2nd quarter valued at approximately $255,000. Bank of America Corp DE bought a new stake in shares of Meridian in the second quarter worth $262,000. Man Group plc bought a new stake in shares of Meridian in the second quarter worth $466,000. Hsbc Holdings PLC bought a new stake in shares of Meridian in the second quarter worth $515,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Meridian in the second quarter valued at $2,593,000. 2.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Meridian from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 28th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $21.60.

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Meridian Company Profile

(Get Free Report)

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.