# Meridian Holdings Q2 2026 shows stronger earnings and improving financial position

- Link: https://www.directorstalkinterviews.com/meridian-holdings-q2-2026-shows-stronger-earnings-and-improving-financial-position/4121261216
- Published: 2026-08-26T13:49:00+01:00
- Author: Amilia Stone

Meridian Holdings reported a solid Q2 2026, with revenue growth, higher adjusted
EBITDA, positive GAAP net income and stronger operating cash flow.

Revenue reached $50.2 million, up 16.1% year on year. Gross profit increased 10.2%
to $26.9 million, while adjusted EBITDA rose 43% to $5.9 million. GAAP net income
reached $2.2 million, compared with a $3.6 million loss a year earlier.

Operating performance improved despite the lower gross margin. Operating income 
reached $2.4 million compared with an operating loss of $2.3 million in Q2 2025.
SG&A expenses declined 8.5% while revenue grew 16.1%, showing improved operating
leverage.

Cash generation was also strong. Operating cash flow increased 228% year on year
to $7.8 million.

The balance sheet continued to improve. Key debt positions fell to $34.6 million
from $63.6 million a year earlier. Net debt declined to $9.4 million, while the 
company ended the quarter with $17.3 million in cash. Net debt leverage stood at
0.39 times.

This gives Meridian more flexibility to fund growth while continuing to manage its
remaining obligations.

Meridian also changed its senior management structure. Zoran Milošević became Group
CEO after leading Meridianbet since 2008. He has been with the business since 2003
and has experience across marketing, risk management and business development.

William Scott moved from Interim CEO to CFO while remaining Executive Chairman. 
His experience in financial management, capital markets and regulated gaming gives
the company continuity in financial strategy, balance sheet management and capital
allocation.

Meridianbet generated $36 million of revenue in Q2, up 23% year on year. The business
also recorded strong customer acquisition during the FIFA World Cup. Meridianbet
added 516,000 new customers, up 37%, while first-time depositors increased 24% to
89,900. Total deposit volume also rose 24%. Operating income increased 91% to $6.1
million, with a gross margin of 66%.

_**Meridian Holdings plc **(formally Golden Matrix Group, Inc.) (Nasdaq:MRDN) positions
itself as a leader in the iGaming technology space, offering casino, sportsbook,
and competition products and combining cutting-edge solutions with a strong portfolio
of partnerships to drive growth and innovation in the digital gaming market._

Share on: