secwatch.observer — SEC 8-K summary
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Issuer:     Meridian Holdings Inc./NV (MRDN)
CIK:        0001437925
Form:       8-K
Filed at:   2026-03-31T23:59:59+00:00
Accession:  0001477932-26-001762
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437925/000147793226001762/0001477932-26-001762-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437925/000147793226001762/meridian_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-26-001762

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