Meridian Holdings Inc. (MRDN)

From the record

Meridian Holdings Inc.'s filings since 2017 show 5 warning events of 3 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2026-01-02); an auditor change (8-K item 4.01, the latest 2017-03-08); a late-report notice (Form NT 10-K or NT 10-Q, 3 times, the latest 2018-06-14) (its current reports).

From the record

Meridian Holdings Inc.'s 10 filed years say what it did: revenue went from $120 thousand in fiscal 2017 to $183 million in fiscal 2025, up 138.8% a year; it rose in 7 of 8 years; the deepest fall was 100% from fiscal 2017 to fiscal 2018; net income was positive in 5 of 9 of those years (its annual reports).

From the record

Over the 2 fiscal years to 2025-12-31, Meridian Holdings Inc.'s diluted share count grew about 87.9% a year, and dividends and buybacks returned about 8% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 39 sales (4 under scheduled 10b5-1 plans) and 4 purchases of their own stock on the open market in the year to 2026-09-30, buying about $53 thousand (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Meridian Holdings Inc. lost about 198 cents for every dollar of shareholders' money, and gross profitability: its products earned about 88 cents per dollar of everything the company owns. Leverage: it owed about 61 cents per dollar of assets, and net share issuance: its share count grew 22.5% over the year (the filed statements).

From the record

Meridian Holdings Inc.'s standing among 218 graded names in its industry family: revenue of $183 million in fiscal 2025 ranks in the bottom 35% by size; a net margin of -50.3% ranks in the bottom 20%; revenue growth of 92.5% a year over the last 3 filed years ranks in the top 3% (its annual reports).

From the record

Meridian Holdings Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Milosevic, Zoran (CEO of Meridian Subsidiaries, as filed), filing under that title since 2024-04-11, 2.6 years (bottom 34% of its family); the 7 officers and directors filing in the last fifteen months have been on the record a median of 2.6 years (bottom 6%); 16 officer or director changes were reported on Form 8-K since 2023-11-13, against the 7 people in charge now (bottom 1%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

Meridian Holdings Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $18 million against debt of $7 million leaves 9.7% of its assets as net cash, bottom 42% of its family; cash from operations less capital spending is 10.5% of revenue (bottom 43%); a gross margin of 56.6% (bottom 32%); research spending of 3.9% of revenue (bottom 6%) (its annual report).

From the record

Meridian Holdings Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 92.5% a year over the last three filed years against 138.8% over all 10, slowing (bottom 3% of its family); the newest year grew 21% (top 29%); research spending grew 176.9% a year (top 1%); capital spending grew 1650.4% a year (top 1%) (its annual reports). Meridian Holdings Inc. reported 3 lines of business in fiscal 2025: Meridian Bet Group at $125 million (68%), R Kings and CFAC at $44 million (24%), GMAG at $15 million (8%) (its annual report).

From the record

Meridian Holdings Inc.'s newest year against its own record: revenue of $183 million in fiscal 2025 came in 57.7% below the $433 million its prior three years' pace pointed to (bottom 3% of its family); net income of $92 million against a prior three-year average of $4 million (bottom 2%); a net margin of -50.3% against 3.7% before (bottom 7%) (its annual reports).