Meridian Holdings Q1 revenue rises 17% on Meridianbet segment strength

Meridian Holdings

28/04/2026 21:20

Overview

US digital gaming firm's Q1 revenue rose 17% yr/yr

Company returned to profitability with Q1 net income after prior-year loss

Adjusted EBITDA for Q1 grew 26% yr/yr; Meridianbet segment drove revenue gains

Outlook

Company sees Q2 2026 revenue between $51 mln and $53 mln

Result Drivers

MERIDIANBET SEGMENT - Main revenue driver with 26% yr/yr growth and nearly 70% of total revenue

USER GROWTH - New customer registrations in Meridianbet up 41% yr/yr; depositors and active users also increased

DELEVERAGING - Net debt reduced to $13.4 mln from $35.4 mln a year earlier, improving financial flexibility

Company press release: ID:nACSjH8SLa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$50.10 mln
$50.01 mln (2 Analysts)
Q1 Net Income
Beat
$2.30 mln
$800,000 (1 Analyst)
Q1 Adjusted EBITDA
Beat
$6.30 mln
$6.10 mln (1 Analyst)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the online services peer group is "hold."

Wall Street's median 12-month price target for Meridian Holdings Inc is $17.00, about 135.5% above its April 27 closing price of $7.22

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 15 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)