---
title: "Meridian | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 50.19 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294200987.md"
datetime: "2026-07-29T11:35:25.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294200987.md)
  - [en](https://longbridge.com/en/news/294200987.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294200987.md)
---

# Meridian | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 50.19 M

Revenue: As of FY2026 Q2, the actual value is USD 50.19 M, missing the estimate of USD 52.42 M.

EPS: As of FY2026 Q2, the actual value is USD 0.17.

EBIT: As of FY2026 Q2, the actual value is USD 2.85 M.

### Financial Highlights for Second Quarter 2026

#### Overall Performance

Meridian Holdings Inc. reported revenue of $50.2 million, an increase of 16% year-over-year . Net income attributable to Meridian Holdings Inc. was $2.2 million, compared to a net loss of - $3.6 million in the prior-year period . Gross profit reached $26.9 million, up 10% year-over-year, with a gross margin of 53.5%, which was down from 56.4% in the prior-year period . Adjusted EBITDA increased 43% year-over-year to $5.9 million, up from $4.1 million in the prior-year period, with the Adjusted EBITDA margin expanding by approximately 222 basis points to 11.8% . Operating cash flow was $7.8 million, compared to $2.4 million generated in the prior-year period . Total debt was reduced by 45% year-over-year to $26.7 million, while cash and cash equivalents stood at $17.3 million . Net debt decreased 65% year-over-year to $9.4 million, resulting in a net debt leverage of 0.39x . Interest expense declined approximately 80% .

#### First Half 2026 Performance

For the first half of 2026, Meridian Holdings Inc. achieved revenue of $100.3 million, up 17% year-over-year . Net income attributable to Meridian Holdings Inc. for the six months ended June 30, 2026, was $4,425,845, compared to a net loss of - $3,815,953 in the prior-year period . Gross profit for the six months was $54,999,160 . Income from operations was $5,597,059, compared to a loss from operations of - $2,410,867 in the prior-year period . Adjusted EBITDA for the six months ended June 30, 2026, was $12,210,593, up from $9,136,593 in the prior-year period . Net cash provided by operating activities for the six months was $12,954,795, compared to $10,117,167 in the prior-year period .

#### Segment Performance

-   **Meridianbet Group**: Revenue grew 23% year-over-year to $35.8 million, accounting for 71% of total Company revenue . Segment operating income increased 91% year-over-year to $6.1 million . New customer registrations surged 37% year-over-year, first-time depositors were up 24%, and total deposit volume increased 24% . Betting gross gaming revenue grew 37% year-over-year .
-   **Expanse Studios (within Meridianbet Group)**: Revenue expanded 138% year-over-year, and gross gaming revenue increased 90% year-over-year . The studio also secured new market certifications in Latvia, Colombia, Portugal, and Slovenia .
-   **RKings Competitions Ltd. and Classics For A Cause Pty Ltd**: Combined revenue was $10.8 million, up 4% year-over-year, representing 22% of Company revenue . RKings’ revenue increased approximately 5% year-over-year to $7.0 million . Classics for a Cause saw new users grow approximately 28% year-over-year, with active VIP subscriptions remaining above 10,000 .
-   **GMAG**: Revenue remained flat at $3.6 million, representing 7% of Company revenue . The segment deployed 2,382 new games, a 13% year-over-year increase . MexPlay, the segment’s Mexico-facing online casino, reported revenue growth of 31%, new customer registrations up 50% year-over-year, and first-time depositors up 53% .

### Outlook and Guidance

For the second half of 2026, Meridian Holdings Inc. anticipates constant currency revenue growth of approximately 8% to 10% year-over-year . The fourth quarter is expected to be the strongest of the year, driven by a concentration of major sporting events and holiday-period wagering activity .

### Related Stocks

- [MRDN.US](https://longbridge.com/en/quote/MRDN.US.md)

## Related News & Research

- [Paramount Skydance amends 8-K to correct pro forma financial statement table in Exhibit 99.3](https://longbridge.com/en/news/294873320.md)
- [American Resources files amended 8-K detailing auditor change timeline after GreenGrowth withdraws 2025 opinion](https://longbridge.com/en/news/294229412.md)
- [Key facts: Hubbell (HUBB) raises 2026 sales to 16%–18%; files 8‑K](https://longbridge.com/en/news/294167258.md)
- [BioCryst amends 8-K, estimates $6.2 million-$7.5 million in one-time severance costs for discovery shutdown plan](https://longbridge.com/en/news/294811169.md)
- [Harvard Apparatus Regenerative Technology amends 8-K to reclassify CEO $300,000 bridge note disclosure under Item 1.01](https://longbridge.com/en/news/294728038.md)