Curated News
By: NewsRamp Editorial Staff
July 29, 2026
Meridian Holdings Q2 Revenue Up 16%, Net Income Positive
TLDR
- Meridian Holdings achieved second consecutive GAAP profit and reduced net debt 65%, signaling strong financial health and growth.
- Revenue grew 16% to $50.2M with adjusted EBITDA up 43%, driven by record customer registrations and disciplined cost management.
- Strong customer growth and debt reduction create a more stable company, benefiting employees, partners, and communities served.
- First-half revenue surpassed $100M for the first time, a milestone driven by record new customer registrations and World Cup activity.
Impact - Why it Matters
Meridian Holdings' strong financial results indicate robust demand for online sports betting and gaming services, even amid challenging industry conditions. The company's consecutive quarters of GAAP profitability and significant debt reduction signal improved financial health and operational efficiency. For investors and stakeholders, this performance suggests that Meridian is well-positioned to capitalize on growth opportunities in regulated markets, including potential expansion through its Expanse Studios and B2B offerings. The company's ability to attract new customers and manage costs effectively underscores its competitive edge in a rapidly evolving gaming landscape.
Summary
Meridian Holdings Inc. (NASDAQ: MRDN) reported a strong second quarter in 2026, with revenue climbing 16% year-over-year to $50.2 million, driven by record new customer registrations and double-digit growth in wagering and deposit volumes. The company achieved its second consecutive quarter of GAAP profitability, posting net income attributable to MRDN of $2.2 million, or $0.17 per diluted share, compared to a net loss of $3.6 million in the same period last year. Adjusted EBITDA surged 43% to $5.9 million, while the company strengthened its balance sheet by reducing total debt by 45% year-over-year to $26.7 million, with cash and cash equivalents of $17.3 million. Net debt fell 65% to $9.4 million, and net debt leverage dropped to 0.39x. The company's first-half 2026 revenue surpassed $100 million for the first time in its history.
The Meridianbet Group segment, which accounts for 71% of total revenue, grew 23% year-over-year to $35.8 million, with operating income up 91%. New customer registrations surged 37%, and betting gross gaming revenue rose 37% despite an unfavorable sporting results backdrop. The Expanse Studios proprietary game studio saw revenue jump 138% year-over-year and expanded its distribution through partnerships, including a North American deal with Bragg Gaming. Combined revenue from RKingsCompetitions and Classics for a Cause increased 4% to $10.8 million, while GMAG revenue held steady at $3.6 million, with its MexPlay online casino growing 31%. The company expects constant currency revenue growth of 8% to 10% in the second half of 2026, with the fourth quarter anticipated to be the strongest due to major sporting events and holiday wagering.
Management highlighted operational discipline and technology integration as key drivers. Interim CEO William Scott noted the company's focus on sustained profitable growth, while Meridianbet Group CEO Zoran Milosevic emphasized the strength of the customer engine and the potential of newly acquired World Cup customers. For more details, the earnings call replay is available at the Meridian Holdings investor relations website. The original release can be found on NEWMEDIAWIRE.
Source Statement
This curated news summary relied on content disributed by NewMediaWire. Read the original source here, Meridian Holdings Q2 Revenue Up 16%, Net Income Positive
