---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-26-001762"
form_type: "8-K"
ticker: "MRDN"
cik: "0001437925"
company_name: "Meridian Holdings Inc./NV"
filed_at: "2026-03-31T23:59:59+00:00"
generated_at: "2026-05-15T08:08:20.507515+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%).

## SEC filing metadata
- accession: 0001477932-26-001762
- form_type: 8-K
- ticker: MRDN
- cik: 0001437925
- company_name: Meridian Holdings Inc./NV
- filed_at: 2026-03-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437925/000147793226001762/0001477932-26-001762-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437925/000147793226001762/meridian_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-26-001762
- JSON: https://secwatch.observer/filing/0001477932-26-001762.json
- Plain text: https://secwatch.observer/filing/0001477932-26-001762.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437925/000147793226001762/0001477932-26-001762-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.