Meridian Holdings Q2 2026: What happens when the bettors win, but the company still grows?

Meridian Holdings Inc. (NASDAQ: MRDN) reported a 16% year-over-year revenue increase to $50.2 million in Q2 2026, with adjusted EBITDA up 43% to $5.9 million, despite a World Cup period unusually favorable to bettors and over $1.2 million in casino payouts. The company achieved GAAP profitability for the second consecutive quarter, with a net income of $2.2 million, compared to a $3.6 million net loss a year prior. This growth, even under challenging conditions, highlights the strength of its diversified business model, which includes proprietary game development and B2B aggregation, reducing reliance on single sports outcomes or markets.

“The underlying growth in our customer base and handle is the clearest measure of the momentum in this business,”

said Zoran Milosevic, CEO of Meridian Holdings. Operating cash flow rose to $7.8 million, and net debt fell by 65% to $9.4 million, marking the sixth consecutive quarter of deleveraging.