Meridian Holdings (MRDN)
NASDAQ:MRDN
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Meridian Holdings
(NASDAQ:MRDN)
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Rating:46Neutral
Price Target:
$7.50
▲(673.20% Upside)
Action:ReiteratedDate:03/31/26
The score is held down mainly by weakened financial quality (large TTM losses and negative free cash flow despite strong revenue growth) and bearish technicals (below major moving averages with weak momentum). A high P/E without dividend support further pressures the risk/reward profile.
Positive Factors
Revenue Growth
Sustained ~21% revenue growth indicates strong customer adoption and durable market demand for Meridian's gaming content and platform offerings. This top-line expansion improves scale economics, supports longer-term investments in product and distribution, and underpins recovery potential over months.
Negative Factors
Profitability Decline
Meaningful operating and net losses in the trailing period reflect elevated operating costs or heavy investment that have eroded profitability. Persistent losses degrade return on capital, strain retained earnings, and heighten the execution risk that revenue growth fails to translate into sustainable bottom-line results.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained ~21% revenue growth indicates strong customer adoption and durable market demand for Meridian's gaming content and platform offerings. This top-line expansion improves scale economics, supports longer-term investments in product and distribution, and underpins recovery potential over months.
Read all positive factors
Meridian Holdings (MRDN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$86.84M
Dividend YieldN/A
Average Volume (3M)216.26K
Price to Earnings (P/E)―
Beta (1Y)0.20
Revenue Growth53.06%
EPS Growth-196.63%
CountryUS
Employees1,200
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)N/A
Shares Outstanding12,641,023
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 Ratio4.39
Enterprise Value/Market Cap1.06
Enterprise Value/Revenue0.50
Enterprise Value/Gross Profit0.89
Enterprise Value/Ebitda-0.95
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.05
Revenue Forecast (FY)$211.34M
Meridian Holdings Business Overview & Revenue Model
Company Description
Meridian Holdings, Inc. engages in offering casino, sportsbook, and competition products. Its brands include R Kings Competitions, MexPlay, and GM-AG. It operates through the Business-to-business (B2B) and Business-to-consumer (B2C) segments. The ...
How the Company Makes Money
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Meridian Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
48
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Oct 2023 | Oct 2022 | Apr 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 182.86M | 151.12M | 44.17M | 36.03M | 60.37M |
| Gross Profit | 103.46M | 88.57M | 9.87M | 9.16M | 45.75M |
| EBITDA | -96.17M | 15.52M | ― | 609.12K | 18.16M |
| Net Income | -91.98M | -1.48M | -1.17M | 44.03K | 12.87M |
Balance Sheet | |||||
| Total Assets | 118.08M | 213.72M | 35.58M | 32.57M | 20.46M |
| Cash, Cash Equivalents and Short-Term Investments | 18.08M | 30.46M | 17.10M | 14.95M | 16.80M |
| Total Debt | 23.39M | 39.35M | 59.09K | 154.86K | 282.23K |
| Total Liabilities | 69.74M | 104.77M | 4.48M | 2.77M | 1.53M |
| Stockholders Equity | 46.55M | 105.07M | 31.10M | 26.80M | 18.93M |
Cash Flow | |||||
| Free Cash Flow | 25.36M | 1.92M | 2.14M | 2.61M | 13.28M |
| Operating Cash Flow | 25.36M | 23.92M | 2.21M | 2.77M | 21.16M |
| Investing Cash Flow | -22.00M | -37.43M | -95.96K | -4.41M | -8.55M |
| Financing Cash Flow | -19.40M | 27.71M | -32.32K | 32.00K | 4.05M |
Meridian Holdings Technical Analysis
Negative
0.97
Price Trends
7.97
Negative
8.70
Negative
12.12
Negative
Market Momentum
-0.35
Positive
38.07
Neutral
13.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRDN, the sentiment is Negative. The current price of 0.97 is below the 20-day moving average (MA) of 8.30, below the 50-day MA of 7.97, and below the 200-day MA of 12.12, indicating a bearish trend. The MACD of -0.35 indicates Positive momentum. The RSI at 38.07 is Neutral, neither overbought nor oversold. The STOCH value of 13.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $46.69M | 12.87 | 17.80% | ― | ― | ― | |
49 Neutral | $58.58M | -2.86 | -15.36% | ― | -17.17% | -51.88% | |
46 Neutral | $86.84M | -1.21 | -92.01% | ― | 53.06% | -196.63% | |
45 Neutral | $38.77M | -0.96 | -52.48% | ― | -8.99% | -117.83% |
* Communication Services Sector Average
MRDN
Meridian Holdings
6.87
-15.69
-69.55%
NCTY
The9
5.33
-5.12
-49.00%
GDC
GD Culture Group
3.01
0.70
30.30%
SKLZ
Skillz
2.49
-1.34
-34.99%
MYPS
PLAYSTUDIOS
0.46
-0.82
-64.38%
GMHS
Gamehaus Holdings
1.02
-0.50
-32.89%
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.