Meridian Holdings reports record FY2025 revenue $182.9M, net loss $92M on $91.8M impairment

Meridian Holdings Inc./NV

2026-Q1 EPS reported $0.18 revenue$50,103,870

Q4 revenue $49.6M (+8% YoY); FY revenue $182.9M (+21% YoY).
Net loss $88.4M Q4 ($7.09 diluted) and $92M FY ($7.76) primarily from $91.8M non-cash goodwill impairment.
Adjusted EBITDA $19.4M FY vs $22.2M prior year; Q4 $4.6M vs $6.5M.
Cash $18.1M; total debt down 51% to $34.7M; net debt leverage <0.9x.
Q1 2026 preliminary: revenue ~$50M (+17%), Adj. EBITDA ~$6.1M (+9%).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Meridian Holdings Inc./NV updated its the fourth quarter and full-year ended December 31, 2025 guidance (initiated).

Period: the fourth quarter and full-year ended December 31, 2025
Guidance: initiated
Result: reported results

Exact text from the filing

On March 31, 2026, Meridian Holdings Inc. (the “Company”, “we” and “us”) issued a press release disclosing its results of operations for the twelve-month period ended December 31, 2025.

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Source: SEC EDGAR

accession 0001477932-26-001762

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