Meridian Holdings (MRDN)
NASDAQ:MRDN
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Meridian Holdings
(NASDAQ:MRDN)
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Rating:56Neutral
Price Target:
$15.00
▲(1446.39% Upside)
Action:Reiterated
Date:06/13/26
The score is held back primarily by weak financial performance driven by large losses and negative free cash flow, despite manageable leverage. Technicals are comparatively strong with an uptrend across moving averages, though overbought signals raise pullback risk. Valuation is constrained by negative earnings, while the Nasdaq compliance event modestly reduces structural risk.
Positive Factors
High gross margin
A ~57% gross margin indicates durable product economics and pricing power in core offerings. Strong gross margins provide a cushion against operating variability, support reinvestment in content or platforms, and improve prospects for returning to profitability as revenues scale.
Negative Factors
Large operating losses
Run-rate operating losses and a roughly -50% net margin represent structural profitability issues. Sustained heavy losses erode retained earnings, risk forced cost cuts or dilution, and indicate core economics or cost structure require corrective action to restore durable profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
A ~57% gross margin indicates durable product economics and pricing power in core offerings. Strong gross margins provide a cushion against operating variability, support reinvestment in content or platforms, and improve prospects for returning to profitability as revenues scale.
Read all positive factors
Meridian Holdings (MRDN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$181.49M
Dividend YieldN/A
Average Volume (3M)216.26K
Price to Earnings (P/E)―
Beta (1Y)0.43
Revenue Growth12.58%
EPS Growth-1164.13%
CountryUS
Employees1,200
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-6.93
Shares Outstanding12,669,479
10 Day Avg. Volume270,124
30 Day Avg. Volume216,256
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)2.39
Price to Sales (P/S)0.61
P/FCF Ratio9.51
Enterprise Value/Market Cap0.82
Enterprise Value/Revenue0.79
Enterprise Value/Gross Profit1.39
Enterprise Value/Ebitda-1.90
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.67
Revenue Forecast (FY)$210.90M
Meridian Holdings Business Overview & Revenue Model
Company Description
Meridian Holdings Inc. specializes in providing a diverse array of offerings within the casino, sportsbook, and competitive gaming industries. The company operates under several key brands, including R Kings Competitions, MexPlay, and GM-AG. Its o...
Meridian Holdings Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
56
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Oct 2023 | Oct 2022 | Apr 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 190.24M | 182.86M | 151.12M | 44.17M | 36.03M | 60.37M |
| Gross Profit | 107.40M | 103.46M | 88.57M | 9.87M | 9.16M | 45.75M |
| EBITDA | -78.92M | -77.46M | 15.52M | ― | 609.12K | 18.16M |
| Net Income | -87.41M | -89.90M | -1.48M | -1.17M | 44.03K | 12.87M |
Balance Sheet | ||||||
| Total Assets | 111.87M | 118.08M | 213.72M | 35.58M | 32.57M | 20.46M |
| Cash, Cash Equivalents and Short-Term Investments | 16.23M | 18.08M | 30.46M | 17.10M | 14.95M | 16.80M |
| Total Debt | 18.89M | 23.39M | 39.35M | 59.09K | 154.86K | 282.23K |
| Total Liabilities | 61.44M | 69.74M | 104.77M | 4.48M | 2.77M | 1.53M |
| Stockholders Equity | 48.73M | 46.55M | 105.07M | 31.10M | 26.80M | 18.93M |
Cash Flow | ||||||
| Free Cash Flow | 11.17M | 11.71M | 1.92M | 10.60M | 2.61M | 13.28M |
| Operating Cash Flow | 22.77M | 25.36M | 23.92M | 23.69M | 2.77M | 21.16M |
| Investing Cash Flow | -19.13M | -22.00M | -37.43M | -13.07M | -4.41M | -8.55M |
| Financing Cash Flow | -18.98M | -19.40M | 27.71M | -4.15M | 32.00K | 4.05M |
Meridian Holdings Technical Analysis
Positive
0.97
Price Trends
9.83
Positive
8.92
Positive
9.97
Positive
Market Momentum
0.92
Negative
71.57
Negative
74.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRDN, the sentiment is Positive. The current price of 0.97 is below the 20-day moving average (MA) of 11.77, below the 50-day MA of 9.83, and below the 200-day MA of 9.97, indicating a bullish trend. The MACD of 0.92 indicates Negative momentum. The RSI at 71.57 is Negative, neither overbought nor oversold. The STOCH value of 74.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MRDN.
Meridian Holdings Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $49.97M | 9.24 | 13.22% | ― | ― | ― | |
56 Neutral | $181.49M | -2.07 | -102.80% | ― | 12.58% | -1164.13% | |
54 Neutral | $75.93M | -2.07 | -15.65% | ― | -15.86% | -16.59% | |
48 Neutral | $134.69M | -2.06 | -55.16% | ― | 21.25% | -77.13% |
* Communication Services Sector Average
MRDN
Meridian Holdings
14.33
-5.12
-26.31%
NCTY
The9
4.72
-3.27
-40.93%
GDC
GD Culture Group
0.10
-2.59
-96.32%
SKLZ
Skillz
8.63
2.41
38.75%
MYPS
PLAYSTUDIOS
0.59
-0.83
-58.38%
GMHS
Gamehaus Holdings
0.87
-0.86
-49.65%
Meridian Holdings Corporate Events
Delistings and Listing ChangesRegulatory Filings and ComplianceStock Split
Meridian Holdings Regains Nasdaq Compliance After Reverse Split
Positive
Mar 18, 2026
On December 31, 2025, Meridian Holdings Inc. disclosed it had received notice from Nasdaq that its shares had traded below the $1.00 minimum bid price requirement for 34 consecutive business days between November 11 and December 30, 2025, putting ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.