Meridian Holdings Inc (MRDN) Income Statement
MRDN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMRDN revenue and net income
Where MRDN's revenue goes
2025Each bar shows an amount and its share of revenue. MRDN kept −49.2% of revenue as net income.
MRDN profit margins
MRDN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +21.0% | +71.8% | +103.6% | — |
| Gross profit | +16.8% | +124.3% | +100.1% | — |
| Operating income | −188.4% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −16,340.0% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MRDN quarterly EPS vs estimates
Meridian beat the analyst EPS estimate in 4 of the last 6 quarters. Next report: October 29, 2026 (estimate $0.14).
MRDN income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $182.9M | $151.1M | $93.0M | $36.0M | $60.4M | $5.2M | $2.9M | $915,804 | $120,000 | $20,000 |
| Cost of revenue | $79.4M | $62.5M | $24.8M | $26.9M | $14.6M | $2.0M | $21,998 | $72,003 | $50,000 | $0 |
| Gross profit | $103.5M | $88.6M | $68.2M | $9.2M | $45.8M | $3.2M | $2.9M | $843,801 | $70,000 | $20,000 |
| Research & development | — | — | — | $23,092 | $199,650 | $47,558 | — | — | — | — |
| Sales, general & admin | $97.9M | $78.1M | $52.3M | $9.0M | $25.8M | $2.8M | $788,460 | $591,936 | $320,436 | $382,097 |
| Total operating expenses | $107.1M | $84.5M | $54.2M | $9.0M | $31.5M | $2.8M | $1.0M | $1.8M | $320,436 | $5.2M |
| Operating income | −$3.6M | $4.1M | $14.1M | $192,492 | $14.3M | $399,325 | $1.8M | −$990,947 | −$250,436 | −$5.2M |
| Interest income | $240,723 | $218,145 | $97,820 | — | — | — | — | — | — | — |
| Interest expense | $4.6M | $3.5M | $36,163 | $9,190 | $51,159 | $11,852 | $45,350 | $162,041 | $413,655 | $4.6M |
| Income before taxes | −$97.2M | $1.2M | $15.5M | $463,077 | $14.2M | $398,080 | $1.8M | −$1.3M | $1.8M | −$10.0M |
| Income taxes | −$5.2M | $2.6M | $1.6M | $419,049 | $1.2M | $10,241 | $42,417 | $1.7M | −$2.5M | $4.8M |
| Net income | −$89.9M | −$1.5M | $13.7M | −$250,038 | $12.9M | $398,080 | $1.8M | −$1.3M | $1.8M | −$10.0M |
| EBITDA | −$77.5M | $15.5M | $20.9M | $870,512 | $18.2M | $409,932 | $1.8M | −$1.2M | $2.5M | −$779,729 |
| EPS (diluted) | −$8.12 | $0.05 | −$0.24 | −$0.53 | $0.44 | $0.02 | $1.07 | −$0.18 | −$0.50 | −$988628.25 |
| Gross margin | 56.6% | 58.6% | 73.4% | 25.4% | 75.8% | 61.7% | 99.2% | 92.1% | 58.3% | 100.0% |
| Operating margin | −2.0% | 2.7% | 15.1% | 0.5% | 23.7% | 7.6% | 62.9% | −108.2% | −208.7% | −25,981.8% |
| Net margin | −49.2% | −1.0% | 14.7% | −0.7% | 21.3% | 7.6% | 61.4% | −144.0% | 1,500.9% | −50,031.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $50.2M | $50.1M | $49.6M | $47.3M | $43.2M | $42.7M | $45.9M | $41.0M | $39.4M | $32.1M | $11.8M | $11.3M |
| Cost of revenue | $23.3M | $22.0M | $21.1M | $20.9M | $18.9M | $18.5M | $19.1M | $18.6M | $17.7M | $12.4M | $8.5M | $9.2M |
| Gross profit | $26.9M | $28.1M | $28.5M | $26.4M | $24.4M | $24.2M | $26.8M | $22.4M | $21.7M | $19.7M | $3.4M | $2.1M |
| Sales, general & admin | $24.4M | $25.0M | $23.4M | $26.8M | $7.9M | $22.1M | $19.0M | $23.4M | $1.2M | $13.6M | $3.1M | $3.0M |
| Total operating expenses | $24.4M | $25.0M | $29.3M | $26.8M | $26.7M | $24.3M | $26.9M | $23.4M | $21.6M | $17.8M | $3.1M | $3.0M |
| Operating income | $2.4M | $3.2M | −$826,037 | −$387,621 | −$2.3M | −$106,017 | −$99,146 | −$976,383 | $125,112 | $1.9M | $279,204 | −$892,099 |
| Interest income | $35,133 | $5,999 | $117,867 | $62,036 | $16,884 | $43,936 | $55,122 | — | — | — | — | — |
| Interest expense | $300,185 | $353,726 | $1.1M | $510,636 | $1.5M | $1.5M | $2.7M | $790,193 | $32,484 | — | $600 | $7,624 |
| Income before taxes | $2.6M | $2.9M | −$94.0M | $615,438 | −$3.2M | −$594,270 | −$2.1M | −$1.4M | $540,595 | $2.4M | $336,685 | −$884,544 |
| Income taxes | $623,120 | $696,134 | −$5.6M | $201,636 | $490,377 | −$336,053 | −$52,421 | $1.9M | $524,969 | $403,333 | $262,180 | $81,084 |
| Net income | $2.2M | $2.3M | −$86.6M | $566,014 | −$3.6M | −$231,608 | −$2.1M | −$3.4M | $64,925 | $2.0M | $74,505 | −$965,628 |
| EBITDA | $5.6M | $5.7M | −$89.1M | $5.1M | $2.0M | $4.5M | $3.9M | $2.5M | $573,079 | $4.1M | $458,725 | −$754,699 |
| EPS (diluted) | $0.17 | $0.18 | −$7.74 | $0.00 | −$0.36 | −$0.02 | −$0.20 | −$0.34 | $0.01 | $0.57 | $0.26 | −$0.32 |
| Gross margin | 53.5% | 56.2% | 57.5% | 55.8% | 56.4% | 56.6% | 58.4% | 54.7% | 55.0% | 61.3% | 28.5% | 18.9% |
| Operating margin | 4.9% | 6.3% | −1.7% | −0.8% | −5.3% | −0.2% | −0.2% | −2.4% | 0.3% | 5.9% | 2.4% | −7.9% |
| Net margin | 4.3% | 4.5% | −174.8% | 1.2% | −8.3% | −0.5% | −4.6% | −8.3% | 0.2% | 6.3% | 0.6% | −8.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MRDN's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MRDN financial results
In fiscal year 2025 (ended December 31, 2025), Meridian reported revenue of $182.9 million, up 21.0% from the year before. It had a net loss of $89.9 million, a net profit margin of −49.2%. Diluted earnings per share came to −$8.12. Over five years revenue grew at an average rate of 103.6% a year.
See the MRDN stock overview for the latest quote and news, or the MRDN chart for price history and technical indicators.
MRDN income statement FAQ
What is Meridian's annual revenue?
Meridian reported total revenue of $182.9 million for fiscal year 2025, which ended on December 31, 2025. That was up 21.0% from $151.1 million the previous year.
Is Meridian profitable?
No. Meridian reported a net loss of $89.9 million in fiscal 2025, a net profit margin of −49.2%; its operating margin was −2.0%.
What is Meridian's gross margin?
Meridian's gross margin was 56.6% in fiscal 2025: for every $100 of revenue, Meridian kept $57 after the direct cost of its products and services.
How fast is Meridian growing?
Revenue grew 103.6% a year on average over the last five fiscal years, from $5.2 million to $182.9 million.
What are Meridian's earnings per share?
Meridian earned $-8.12 per diluted share in fiscal 2025, compared with $0.05 a year earlier.
When will Meridian report its next earnings?
Meridian is expected to report results for the quarter ending September 30, 2026 on October 29, 2026 before the market opens.
When does Meridian's fiscal year end?
Meridian's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.