Meridian Holdings Inc./NV MRDN
The information included in this Report on Form 10-K should be read in conjunction with the consolidated financial statements and related notes in "Item 8. Financial Statements and Supplemental Data" of this Report.
Our logo and some of our trademarks and tradenames are used in this Report. This Report also includes trademarks, tradenames and service marks that are the property of others. Solely for convenience, trademarks, tradenames, and service marks referred to in this Report may appear without the ®, ™ and SM symbols. References to our trademarks, tradenames and service marks are not intended to indicate in any way that we will not assert to the fullest extent under applicable law our rights or the rights of the applicable licensors if any, nor that respective owners to other intellectual property rights will not assert, to the fullest extent under applicable law, their rights thereto. We do not intend the use or display of other companies' trademarks and trade names to imply a relationship with, or endorsement or sponsorship of us by, any other companies.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- Europe (UK-Excl.)
- United Kingdoms
- Africa
- Asia Pacific
- Central and South America
- Australia
| Region | FY2025 | FY2024 |
|---|---|---|
| Europe (UK-Excl.) | $102.5M | $89.6M |
| United Kingdoms | $35.1M | $27.8M |
| Africa | $15.5M | $12.6M |
| Asia Pacific | $12.2M | $11.2M |
| Central and South America | $8.9M | $5.3M |
| Australia | $8.7M | $4.6M |
As the company reported it, from the “SEGMENT REPORTING AND GEOGRAPHIC INFORMATION (Details 1)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Revenue by segment
- MeridianBet Group
- RKings & CFAC
- Gmag
| Segment | FY2025 |
|---|---|
| MeridianBet Group | $124.6M |
| RKings & CFAC | $43.8M |
| Gmag | $14.5M |
As the company reported it, from the “SEGMENT REPORTING AND GEOGRAPHIC INFORMATION (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $182.9M | $151.1M | $93.0M | $35.2M | $11.3M | $5.2M | $452.8K | $0 | $120.0K | $20.0K |
| Cost of revenue | $79.4M | $62.5M | $24.8M | $26.9M | $7.0M | $2.0M | $22.0K | $72.0K | $50.0K | — |
| Gross profit | $103.5M | $88.6M | $68.2M | $9.2M | $4.3M | $3.2M | $2.9M | $843.8K | $70.0K | $20.0K |
| R&D | $7.1M | $6.1M | — | $23.1K | — | $47.6K | $0 | $0 | — | — |
| SG&A | $199.6M | $85.8M | $54.5M | $6.1M | — | $566.6K | — | $186.0K | $385 | $261.7K |
| Total operating expenses | $24.0M | — | $10.4M | $9.0M | — | $2.8M | $1.0M | $1.8M | $320.4K | $5.2M |
| Operating income | -$96.2M | $2.7M | $13.8M | $192.5K | — | $399.3K | $1.8M | -$990.9K | -$250.4K | -$5.2M |
| Interest expense | $4.6M | $3.5M | $36.2K | $0 | — | $11.9K | $45.4K | $162.0K | $413.7K | $4.6M |
| Pre-tax income | -$97.2M | $1.2M | $15.5M | $463.1K | — | $398.1K | — | — | — | — |
| Income tax | $5.2M | $2.6M | $1.6M | $419.0K | — | $0 | — | — | — | — |
| Net income | -$92.0M | -$1.4M | $13.7M | $44.0K | — | $398.1K | $1.8M | -$1.3M | $1.8M | -$10.0M |
| EPS, basic | -7.76 | -0.16 | 0.16 | -0.01 | — | 0.02 | 0.09 | -0.17 | 0.04 | -45.08 |
| EPS, diluted | -7.76 | -0.16 | 0.16 | -0.01 | — | 0.01 | 0.06 | -0.17 | 0.00 | -45.08 |
| Shares, diluted (wtd. avg.) | 11.6M | 9.5M | 83.5M | 28.0M | — | 31.6M | 18.8M | 7.7M | 1.80B | 221,956 |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $18.1M | $30.1M | $20.4M | $13.1M | $16.8M | $11.7M | $1.7M | $446.6K | $25.2K | $2.3K |
| Receivables | $8.0M | $6.1M | $2.7M | $2.6M | $1.8M | $1.0M | $791.3K | $10.0K | $62.5K | $10.0K |
| Inventory | $5.5M | $3.9M | $133.9K | $1.1M | $0 | — | — | — | — | — |
| Total current assets | $35.4M | $45.1M | $26.9M | $19.3M | $20.0M | $13.8M | $3.7M | $819.9K | $87.7K | $12.3K |
| Property, plant and equipment | $29.0M | $27.4M | $27.8M | $72.4K | $0 | — | — | — | — | — |
| Goodwill | $8.5M | $71.2M | $10.4M | $10.5M | $0 | — | — | — | — | — |
| Other intangibles | $26.5M | $56.4M | $15.1M | $2.6M | $135.3K | — | — | — | — | — |
| Total assets | $118.1M | $213.7M | $79.9M | $32.6M | $20.5M | $13.8M | $3.7M | $819.9K | $87.7K | $12.3K |
| Accounts payable | $20.6M | $12.9M | $11.3M | $1.4M | $1.1M | $78.9K | $25.6K | $14.4K | $21.1K | $36.0K |
| Short-term debt | $10.6M | $16.8M | $0 | — | — | — | — | — | — | — |
| Total current liabilities | $59.6M | $63.6M | $17.6M | $2.7M | $1.3M | $552.6K | $1.2M | $2.2M | $1.6M | $4.0M |
| Long-term debt | $6.6M | $14.4M | $0 | — | — | — | — | — | — | — |
| Total liabilities | $69.7M | $104.8M | $19.9M | $2.8M | $1.5M | $552.6K | $1.2M | $2.2M | $1.6M | $4.0M |
| Retained earnings | -$33.1M | $57.0M | $59.3M | -$24.7M | -$24.4M | -$25.1M | -$25.5M | -$28.2M | -$26.9M | -$28.7M |
| Total equity | $46.5M | $105.1M | $60.0M | $47.1M | $18.9M | $13.3M | $1.0M | -$1.3M | -$1.5M | -$4.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $25.4M | $23.9M | $23.7M | $2.8M | — | $1.9M | $1.5M | $302.7K | -$15.1K | $1.3K |
| Depreciation and amortisation | $6.0M | $4.4M | $3.5M | $22.8K | — | $0 | — | — | — | — |
| Stock-based compensation | $4.1M | $4.7M | $2.2M | $2.7M | — | $1.9M | $206.8K | $107.3K | — | — |
| Capital expenditure | $6.2M | $7.2M | $5.7M | $36.8K | — | — | — | — | — | — |
| Investing cash flow | -$22.0M | -$37.4M | -$13.1M | -$4.4M | — | $192 | $0 | $0 | — | — |
| Financing cash flow | -$19.4M | $27.7M | -$4.2M | $32.0K | — | $8.0M | -$167.4K | $118.7K | $38.0K | $1.0K |
| Dividends paid | $144.8K | $769.5K | $1.8M | — | — | — | — | — | — | — |
| Buybacks | $3.0M | — | $32.3K | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001477932-26-002676.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.0K | $120.0K | $0 | $452.8K | $5.2M | $11.3M | $35.2M | $93.0M | $151.1M | $182.9M |
| Gross profit | $20.0K | $70.0K | $843.8K | $2.9M | $3.2M | $4.3M | $9.2M | $68.2M | $88.6M | $103.5M |
| Net income | -$10.0M | $1.8M | -$1.3M | $1.8M | $398.1K | — | $44.0K | $13.7M | -$1.4M | -$92.0M |
Recent filings and events
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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