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Meridian (MRDN) Financials

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$13.33 -0.32 (-2.34%)
As of 04:00 PM Eastern
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Annual Income Statements for Meridian

Annual Income Statements for Meridian

This table shows Meridian's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2021 2022 2023 2024 2025
Period end date 7/31/2014 7/31/2015 7/31/2016 7/31/2017 7/31/2018 7/31/2019 1/31/2021 10/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -1.38 -3.65 -10 1.80 -1.65 1.77 0.40 -0.54 14 -1.41 -92
Consolidated Net Income / (Loss)		 -1.38 -2.62 -10 1.80 -1.32 1.77 0.40 0.04 14 -1.41 -92
Net Income / (Loss) Continuing Operations		 -1.38 -3.65 -10 1.80 -1.65 1.77 0.40 0.04 14 -1.41 -92
Total Pre-Tax Income 		-1.38 -3.06 -10 1.80 -1.32 1.77 0.40 0.46 15 1.21 -97
Total Operating Income		 -0.52 -2.04 -5.20 -0.25 -0.99 1.81 0.40 0.19 14 2.74 -96
Total Gross Profit		 0.00 0.00 0.02 0.07 0.84 2.86 3.22 9.16 68 89 103
Total Revenue		 0.00 0.00 0.02 0.12 0.92 2.88 5.22 36 93 151 183
Operating Revenue		 0.00 0.00 0.02 0.12 0.92 2.88 5.22 36 93 151 183
Total Cost of Revenue		 0.00 0.00 0.00 0.05 0.07 0.02 2.00 27 25 63 79
Operating Cost of Revenue		 0.00 - 0.00 0.05 0.07 0.02 2.00 27 25 63 79
Total Operating Expenses		 0.52 2.04 5.17 0.32 1.83 1.05 2.82 8.97 54 86 200
Selling, General & Admin Expense		 0.33 1.87 0.31 0.07 0.25 0.38 2.78 8.97 54 86 200
Total Other Income / (Expense), net		 -0.86 -1.02 -4.81 2.05 -0.33 -0.04 -0.00 0.27 1.84 -1.54 -1.02
Interest Expense		 0.60 0.80 1.85 -0.44 0.16 0.04 0.01 0.00 0.04 3.52 4.58
Interest & Investment Income		 - - - - - - - 0.01 0.10 0.22 0.24
Other Income / (Expense), net		 -0.27 -0.22 -2.96 1.61 -0.17 -0.01 0.01 0.26 1.78 1.77 3.32
Income Tax Expense		 0.00 - - - - - 0.00 0.42 1.57 2.62 -5.21
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - - 0.00 0.59 0.19 0.07 -2.08
Basic Earnings per Share		 ($0.01) $0.00 ($45.08) $0.04 ($0.17) $0.09 - ($0.01) $0.16 ($0.16) ($7.76)
Weighted Average Basic Shares Outstanding		 255.48M 3.19B 221.96K 49.83M 7.73M 18.76M 19.95M 28.04M 83.48M 9.46M 11.59M
Diluted Earnings per Share		 ($0.01) $0.00 ($45.08) $0.00 ($0.17) $0.06 - ($0.01) $0.16 ($0.16) ($7.76)
Weighted Average Diluted Shares Outstanding		 255.48M 3.19B 0.00 1.80B 7.73M 27.59M 31.59M 28.04M 83.48M 9.46M 11.59M
Weighted Average Basic & Diluted Shares Outstanding		 255.48M 3.19B 33.29M 369.23M 2.84B 2.85B 23.29M - 36.25M 132.09M 12.64M

Quarterly Income Statements for Meridian

This table shows Meridian's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.48 7.04 3.99 0.06 -3.41 1.79 -0.26 -3.58 0.57 -89 2.17
Consolidated Net Income / (Loss)		 3.52 7.55 3.95 0.02 -3.30 1.72 -0.26 -3.73 0.41 -88 2.17
Net Income / (Loss) Continuing Operations		 3.52 7.10 3.95 0.02 -3.30 1.80 -0.26 -3.73 0.41 -88 2.17
Total Pre-Tax Income 		3.84 7.79 4.23 0.54 -1.43 1.76 -0.59 -3.24 0.62 -94 2.86
Total Operating Income		 3.23 6.93 3.69 0.13 -0.98 3.32 -0.11 -2.30 -0.39 -93 3.16
Total Gross Profit		 16 33 18 22 22 41 24 24 26 28 28
Total Revenue		 22 37 25 39 41 59 43 43 47 50 50
Operating Revenue		 22 37 25 39 41 59 43 43 47 50 50
Total Cost of Revenue		 6.12 4.26 7.16 18 19 18 19 19 21 21 22
Operating Cost of Revenue		 6.12 4.26 7.16 18 19 18 19 19 21 21 22
Total Operating Expenses		 13 26 14 22 23 38 24 27 27 122 25
Selling, General & Admin Expense		 13 26 14 22 23 38 24 27 27 122 25
Total Other Income / (Expense), net		 0.61 1.00 0.54 0.42 -0.46 -1.55 -0.49 -0.94 1.00 -0.60 -0.29
Interest Expense		 0.00 0.01 0.00 0.03 0.79 2.70 1.47 1.48 0.51 1.12 0.35
Interest & Investment Income		 0.03 0.05 0.03 0.07 0.06 0.05 0.04 0.02 0.06 0.12 0.01
Other Income / (Expense), net		 0.59 0.95 0.51 0.38 0.28 1.09 0.94 0.53 1.45 0.40 0.05
Income Tax Expense		 0.32 0.69 0.28 0.52 1.86 -0.03 -0.34 0.49 0.20 -5.56 0.70
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.04 - -0.08 -0.10 0.11 - -0.03 -0.30 -0.15 -1.58 -0.09
Basic Earnings per Share		 $0.04 $0.09 $0.05 $0.00 ($0.03) $0.02 ($0.02) ($0.03) $0.00 ($7.66) $0.18
Weighted Average Basic Shares Outstanding		 83.48M 83.48M 83.48M 120.58M 121.51M 113.51M 10.98M 137.97M 139.77M 11.59M 12.64M
Diluted Earnings per Share		 $0.04 $0.09 $0.05 $0.00 ($0.03) $0.02 ($0.02) ($0.03) $0.00 ($7.66) $0.18
Weighted Average Diluted Shares Outstanding		 83.48M 83.48M 83.48M 128.46M 121.51M 113.51M 10.98M 137.97M 142.76M 11.59M 12.79M
Weighted Average Basic & Diluted Shares Outstanding		 36.13M 36.25M 36.62M 120.84M 128.90M 132.09M 138.39M 139.48M 141.24M 12.64M 12.67M

Annual Cash Flow Statements for Meridian

This table details how cash moves in and out of Meridian's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2021 2022 2023 2024 2025
Period end date 7/31/2014 7/31/2015 7/31/2016 7/31/2017 7/31/2018 7/31/2019 1/31/2021 10/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.00 -0.00 0.00 0.02 0.42 1.28 9.85 -1.85 7.30 9.72 -12
Net Cash From Operating Activities		 -0.61 -2.01 0.00 -0.02 0.30 1.45 1.88 2.77 24 24 25
Net Cash From Continuing Operating Activities		 -0.46 -1.60 -7.94 0.09 0.08 3.16 4.19 2.68 24 24 25
Net Income / (Loss) Continuing Operations		 -1.38 -2.62 -10 1.80 -1.32 1.77 0.40 -0.04 14 -1.41 -92
Consolidated Net Income / (Loss)		 -1.38 -2.62 -10 1.80 -1.32 1.77 0.40 -0.04 14 -1.41 -92
Depreciation Expense		 0.00 0.00 4.67 0.33 - - 0.00 0.41 3.52 4.42 5.98
Amortization Expense		 - - 0.00 - - 0.00 0.00 - 1.90 6.37 9.17
Non-Cash Adjustments To Reconcile Net Income		 0.86 0.58 0.26 -2.47 1.67 0.15 1.97 2.56 -0.95 8.22 99
Changes in Operating Assets and Liabilities, net		 -0.09 0.03 5.07 0.32 -0.05 1.24 1.82 -0.24 5.16 6.31 2.79
Net Cash From Investing Activities		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -4.41 -13 -37 -22
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -4.41 -13 -37 -22
Purchase of Property, Plant & Equipment		 0.00 - - - - - 0.00 -0.04 -5.74 -7.16 -6.18
Acquisitions		 - - - - - - 0.00 -4.11 0.00 -24 -8.56
Purchase of Investments		 - - - - - - - - -0.02 0.02 -5.43
Divestitures		 - - - - - - - - 0.00 17 0.00
Other Investing Activities, net		 - - - - 0.00 0.00 0.00 -0.26 -7.35 -24 -1.82
Net Cash From Financing Activities		 0.61 2.01 0.00 0.04 0.12 -0.17 7.97 0.03 -4.15 28 -19
Net Cash From Continuing Financing Activities		 0.61 2.01 0.00 0.04 0.12 -0.17 7.97 0.03 -4.15 28 -19
Repayment of Debt		 -0.00 0.00 - 0.00 -0.04 -0.17 -0.51 - -2.35 -6.15 -24
Repurchase of Common Equity		 - - - - - - - 0.00 0.00 -0.12 -0.12
Payment of Dividends		 - - - - - - - - -1.80 -0.77 -0.14
Issuance of Debt		 0.61 2.01 0.00 0.04 0.04 - - - 0.00 26 2.15
Issuance of Common Equity		 0.00 0.00 0.00 - 0.12 0.00 8.47 - 0.00 8.75 2.96
Other Financing Activities, net		 - - - 0.00 0.00 0.00 0.01 0.03 0.00 0.03 0.00
Effect of Exchange Rate Changes		 - - - - 0.00 - -0.00 -0.25 0.83 -4.47 4.00
Cash Interest Paid		 - - - - 0.00 0.00 0.04 0.00 0.04 1.35 1.79
Cash Income Taxes Paid		 - - - - 0.00 0.00 0.00 0.55 1.99 3.92 4.03

Quarterly Cash Flow Statements for Meridian

This table details how cash moves in and out of Meridian's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 0.43 4.07 1.22 11 5.58 13 -0.46 -7.53 -0.09 -3.96 -1.84
Net Cash From Operating Activities		 5.16 8.37 4.46 -1.90 4.76 17 7.74 2.38 7.03 8.21 5.16
Net Cash From Continuing Operating Activities		 5.16 8.21 4.46 -1.90 4.76 16 7.74 2.38 7.03 8.21 5.16
Net Income / (Loss) Continuing Operations		 3.52 2.01 3.95 0.02 -3.30 -2.08 0.00 -3.73 0.41 -88 0.00
Depreciation Expense		 0.93 0.85 1.20 0.83 1.15 1.24 1.44 1.34 1.41 1.79 1.44
Amortization Expense		 0.42 0.54 0.44 1.91 1.96 2.06 2.15 2.47 2.58 1.97 1.03
Non-Cash Adjustments To Reconcile Net Income		 0.04 -0.92 0.22 1.51 2.48 6.87 1.81 2.51 0.68 94 2.59
Changes in Operating Assets and Liabilities, net		 0.25 5.73 -1.35 -6.17 2.48 7.67 2.34 -0.21 1.95 -1.29 0.10
Net Cash From Investing Activities		 -2.31 -5.34 -2.25 -8.94 -11 -16 -5.34 -6.56 -3.20 -6.90 -2.47
Net Cash From Continuing Investing Activities		 -2.31 -5.39 -2.25 -8.94 -11 2.16 -5.34 -6.56 -3.20 -6.90 -2.47
Acquisitions		 -1.55 4.26 -1.32 15 -10 - -2.77 -3.93 -2.25 0.38 -2.21
Purchase of Investments		 0.01 -0.03 0.01 0.00 -0.01 -0.02 -0.01 -0.02 -0.00 -5.40 0.00
Sale of Property, Plant & Equipment		 - - - - - - -1.11 - - - 0.04
Other Investing Activities, net		 - -7.35 0.00 -23 1.97 -32 -1.46 -0.15 -0.10 -0.12 -0.29
Net Cash From Financing Activities		 -0.95 -1.09 0.82 22 9.55 -5.00 -5.00 -9.30 -2.82 -2.28 -4.57
Net Cash From Continuing Financing Activities		 -0.95 -1.09 0.82 22 9.55 -5.00 -5.00 -9.30 -2.82 -2.28 -4.57
Repayment of Debt		 -0.47 -0.71 -0.57 -0.98 -1.55 -0.57 -5.00 -11 -3.83 -4.26 -4.57
Other Financing Activities, net		 - - - - - -2.47 0.00 - - - -0.00
Effect of Exchange Rate Changes		 -1.47 2.12 -1.80 -0.30 1.78 - 2.14 5.96 -1.10 -3.00 0.04
Cash Interest Paid		 0.00 0.00 0.00 0.03 0.06 1.26 0.51 0.47 0.43 0.37 0.28
Cash Income Taxes Paid		 -0.02 1.06 0.49 1.16 1.06 1.21 0.76 1.17 1.12 0.98 0.71

Annual Balance Sheets for Meridian

This table presents Meridian's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2021 2022 2023 2024 2025
Period end date 7/31/2014 7/31/2015 7/31/2016 7/31/2017 7/31/2018 7/31/2019 10/31/2021 10/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.16 0.15 0.01 0.09 0.82 3.01 20 33 80 214 118
Total Current Assets		 0.08 0.06 0.01 0.09 0.82 3.01 20 19 27 45 35
Cash & Equivalents		 0.00 0.00 0.00 0.03 0.45 1.73 17 15 20 30 18
Accounts Receivable		 - 0.00 0.01 0.06 0.37 1.27 3.07 3.05 3.07 6.73 8.42
Inventories, net		 - - - - - - 0.00 1.15 0.13 3.94 5.52
Prepaid Expenses		 0.00 - - 0.00 0.00 - 0.11 0.08 0.33 0.96 0.65
Current Deferred & Refundable Income Taxes		 - - - - - - - - 1.00 0.73 0.60
Other Current Assets		 - - - - - - 0.06 0.05 1.99 2.58 2.17
Plant, Property, & Equipment, net		 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.07 28 27 29
Total Noncurrent Assets		 0.00 0.09 0.00 0.00 0.00 0.00 0.42 13 25 141 54
Goodwill		 - - - - - - 0.00 10 15 128 35
Other Noncurrent Operating Assets		 0.00 0.09 - - - - 0.28 0.15 9.99 14 19
Total Liabilities & Shareholders' Equity		 0.16 0.15 0.01 0.09 0.82 3.01 20 33 80 214 118
Total Liabilities		 1.08 2.97 3.99 1.62 2.16 1.97 1.53 2.77 20 105 70
Total Current Liabilities		 1.09 2.97 3.99 1.62 2.16 1.83 1.35 2.72 18 64 60
Short-Term Debt		 - 2.36 0.40 0.05 0.03 1.06 - - 0.00 17 11
Accounts Payable		 0.02 0.08 0.88 1.20 0.89 0.57 1.18 1.40 11 13 21
Current Deferred Revenue		 - - - - - - 0.00 0.18 0.00 1.10 1.11
Current Deferred & Payable Income Tax Liabilities		 - - - - - - 0.00 0.33 3.39 3.77 5.01
Other Current Liabilities		 0.48 0.53 2.46 0.22 1.09 0.17 0.10 0.70 2.88 28 22
Total Noncurrent Liabilities		 0.58 0.00 0.00 0.00 0.00 0.15 0.18 0.06 2.29 41 10
Long-Term Debt		 0.58 - - - 0.00 - - - 0.00 14 6.59
Other Noncurrent Operating Liabilities		 - - - - 0.00 0.15 0.18 0.06 2.29 27 3.58
Total Equity & Noncontrolling Interests		 -0.93 -2.82 -3.98 -1.54 -1.34 1.03 19 30 60 109 48
Total Preferred & Common Equity		 -0.93 -2.82 -3.98 -1.54 -1.34 1.03 19 27 59 105 47
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -0.93 -2.82 -3.98 -1.54 -1.34 1.03 19 27 59 105 47
Common Stock		 15 16 25 25 27 27 43 52 3.05 50 83
Retained Earnings		 -16 -19 -29 -27 -28 -26 -24 -25 59 57 -33
Treasury Stock		 - - - - - - - - 0.00 -0.12 -0.24
Accumulated Other Comprehensive Income / (Loss)		 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.21 -3.31 -8.09 -3.75
Other Equity Adjustments		 - - 0.00 0.00 - - - - 0.00 5.92 0.68
Noncontrolling Interest		 - - - - - - 0.00 3.00 0.95 3.88 1.79

Quarterly Balance Sheets for Meridian

This table presents Meridian's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 4/30/2023 7/31/2023 1/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 35 35 37 192 213 214 210 210 112
Total Current Assets		 22 22 24 49 57 46 39 39 30
Cash & Equivalents		 16 16 17 33 38 30 22 22 16
Accounts Receivable		 3.92 4.25 4.33 7.99 9.16 7.47 7.65 7.67 5.98
Inventories, net		 1.86 1.52 2.38 3.34 4.41 4.88 4.76 5.68 4.86
Prepaid Expenses		 0.18 0.12 0.14 1.51 1.37 1.03 1.19 0.96 0.67
Current Deferred & Refundable Income Taxes		 - - - 0.43 0.30 0.59 0.72 0.67 0.47
Other Current Assets		 0.05 0.05 0.05 2.46 3.01 2.29 2.51 2.12 2.28
Plant, Property, & Equipment, net		 0.07 0.06 0.04 28 29 28 29 29 27
Total Noncurrent Assets		 13 13 13 115 128 140 142 142 54
Goodwill		 10 10 10 105 117 128 129 129 35
Other Noncurrent Operating Assets		 0.11 0.08 0.34 10 10 13 13 13 19
Total Liabilities & Shareholders' Equity		 35 35 37 192 213 214 210 210 112
Total Liabilities		 3.95 4.09 4.95 101 115 102 85 83 61
Total Current Liabilities		 3.94 4.09 4.69 51 69 62 64 64 53
Short-Term Debt		 - - - 6.03 17 15 11 11 8.03
Accounts Payable		 2.05 2.43 2.87 9.39 12 17 17 19 19
Current Deferred Revenue		 0.27 0.27 0.13 - 1.25 1.15 1.16 1.07 1.08
Current Deferred & Payable Income Tax Liabilities		 0.58 0.23 0.66 3.20 3.31 2.79 3.64 4.00 4.48
Other Current Liabilities		 0.73 0.73 0.74 33 35 26 31 30 21
Total Noncurrent Liabilities		 0.01 0.00 0.26 50 46 40 22 18 8.18
Long-Term Debt		 - - - 22 18 13 11 8.75 4.85
Other Noncurrent Operating Liabilities		 0.01 0.00 0.26 27 28 26 10 9.52 3.32
Total Equity & Noncontrolling Interests		 31 31 32 90 99 112 125 127 50
Total Preferred & Common Equity		 31 31 32 90 94 109 121 124 49
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 31 31 32 90 94 109 121 124 49
Common Stock		 56 57 58 32 38 58 70 73 83
Retained Earnings		 -26 -27 -26 63 59 57 53 54 -31
Treasury Stock		 -0.03 - - - -0.00 -0.12 -0.12 -0.12 -0.24
Accumulated Other Comprehensive Income / (Loss)		 0.04 0.12 0.12 -5.41 -3.60 -6.72 -2.52 -3.19 -4.08
Other Equity Adjustments		 - - - 0.15 0.24 0.38 0.36 0.44 0.68
Noncontrolling Interest		 0.00 0.00 - 0.86 4.33 3.85 3.70 3.55 1.70

Annual Metrics And Ratios for Meridian

This table displays calculated financial ratios and metrics derived from Meridian's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2021 2022 2023 2024 2025
Period end date 7/31/2014 7/31/2015 7/31/2016 7/31/2017 7/31/2018 7/31/2019 1/31/2021 10/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 343,848,674.00 3,472,433,130.00 13,925,616.00 97,806,673.00 2,292,904,757.00 2,845,318,757.00 21,332,636.00 28,182,575.00 36,134,932.00 - 141,237,872.00
DEI Adjusted Shares Outstanding		 343,848,674.00 3,472,433,130.00 13,925,616.00 97,806,673.00 2,292,904,757.00 2,845,318,757.00 21,332,636.00 28,182,575.00 36,134,932.00 - 11,769,823.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -0.72 0.02 0.00 0.00 0.02 -0.02 0.38 - -7.82
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -0.36 -1.43 -3.64 -0.25 -0.69 1.81 0.40 0.02 12 -3.20 -67
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 20.61% -2.28% -102.76%
Earnings before Interest and Taxes (EBIT)		 -0.78 -2.26 -8.16 1.36 -1.16 1.81 0.41 0.45 16 4.51 -93
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.78 -2.26 -3.48 1.69 -1.16 1.81 0.41 0.86 21 15 -78
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -0.12 -1.30 -0.77 -2.07 -0.45 -0.34 0.00 -13 -12 -74 -4.27
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.34 -0.46 -3.33 -1.51 -1.76 0.39 2.13 15 40 110 47
Increase / (Decrease) in Invested Capital		 -0.24 -0.12 -2.87 1.82 -0.25 2.15 0.00 13 25 70 -63
Book Value per Share		 $0.00 $0.00 ($0.29) ($0.02) $0.00 $0.00 $0.89 $0.95 $1.63 $0.82 $0.33
Tangible Book Value per Share		 $0.00 $0.00 ($0.29) ($0.02) $0.00 $0.00 $0.88 $0.49 $1.22 ($0.18) $0.08
Total Capital		 -0.35 -0.46 -3.59 -1.48 -1.31 2.10 19 30 60 140 66
Total Debt		 0.58 2.36 0.40 0.05 0.03 1.06 0.00 0.00 0.00 31 17
Total Long-Term Debt		 0.58 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14 6.59
Net Debt		 0.58 2.36 0.39 0.03 -0.42 -0.67 -17 -15 -20 1.03 -0.91
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 5.74 7.16 6.18
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.02 -0.55 -3.59 -1.51 -1.76 0.51 1.90 1.62 -11 -32 -32
Debt-free Net Working Capital (DFNWC)		 -1.01 -0.55 -3.59 -1.48 -1.31 2.24 19 17 9.36 -1.69 -14
Net Working Capital (NWC)		 -1.01 -2.91 -3.98 -1.54 -1.34 1.18 19 17 9.36 -18 -24
Net Nonoperating Expense (NNE)		 1.02 1.19 6.37 -2.05 0.62 0.04 0.00 -0.03 -1.53 -1.79 25
Net Nonoperating Obligations (NNO)		 0.59 2.36 0.65 0.03 -0.42 -0.64 -17 -15 -20 1.03 -0.91
Total Depreciation and Amortization (D&A)		 0.00 0.00 4.67 0.33 0.00 0.00 0.00 0.41 5.42 11 15
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.01) $0.00 ($0.30) $0.04 $0.00 $0.00 $0.00 $0.00 ($0.03) ($0.01) ($7.76)
Adjusted Weighted Average Basic Shares Outstanding		 255.48M 3.47B 33.29M 49.83M 1.16B 2.81B 0.00 28.04M 35.42M 113.51M 11.59M
Adjusted Diluted Earnings per Share		 ($0.01) $0.00 ($0.30) $0.00 $0.00 $0.00 $0.00 $0.00 ($0.03) ($0.01) ($7.76)
Adjusted Weighted Average Diluted Shares Outstanding		 255.48M 3.47B 33.29M 1.80B 1.16B 4.14B 0.00 28.04M 35.42M 113.51M 11.59M
Adjusted Basic & Diluted Earnings per Share		 ($0.01) $0.00 ($0.30) $0.04 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 3.05B 3.19B 33.29M 369.23M 2.84B 2.85B 0.00 0.00 36.25M 132.09M 12.64M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.36 -1.43 -3.64 -0.18 -0.69 1.27 0.28 0.13 12 1.92 -67
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Meridian

This table displays calculated financial ratios and metrics derived from Meridian's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 36,134,932.00 36,134,932.00 36,615,932.00 36,615,932.00 120,841,977.00 - 132,087,080.00 138,391,378.00 139,483,065.00 141,237,872.00 12,641,023.00
DEI Adjusted Shares Outstanding		 36,134,932.00 36,134,932.00 36,615,932.00 36,615,932.00 120,841,977.00 - 132,087,080.00 138,391,378.00 139,483,065.00 11,769,823.00 12,641,023.00
DEI Earnings Per Adjusted Shares Outstanding		 0.10 0.19 0.11 0.00 -0.03 - 0.00 -0.03 0.00 -7.54 0.17
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 144.02% 290.95% 130.57% 74.57% 84.57% 57.28% 71.92% 9.72% 15.43% - 17.28%
EBITDA Growth		 391.51% 695.41% 3,140.98% -51.65% -53.40% -16.87% -24.33% -37.32% 109.88% - 28.29%
EBIT Growth		 403.43% 573.44% 1,460.43% -87.86% -118.34% -44.06% -80.16% -452.94% 252.05% - 285.53%
NOPAT Growth		 353.48% 631.06% 1,597.45% -99.90% -123.07% -46.53% -102.15% -44,713.29% 61.87% - 3,320.27%
Net Income Growth		 158.96% 410.47% 545.19% -99.58% -193.62% -77.19% -106.54% -23,982.57% 112.56% - 939.66%
EPS Growth		 100.00% 250.00% 600.00% -100.00% -175.00% -77.78% -100.00% 0.00% 100.00% - 1,000.00%
Operating Cash Flow Growth		 9,365.44% 7,434.80% 1,009.88% -119.52% -7.72% 98.32% 73.62% 224.84% 47.63% - -33.39%
Free Cash Flow Firm Growth		 116.42% -32.44% 223.42% -4,823.84% -4,121.35% -263.90% -2,716.85% 42.24% 63.74% - 169.00%
Invested Capital Growth		 6.80% 166.60% -1.58% 469.56% 546.73% 177.86% 649.03% 45.74% 30.64% - -57.68%
Revenue Q/Q Growth		 -1.64% 68.52% -33.60% 58.61% 4.00% 43.60% -27.42% 1.22% 9.41% - 1.06%
EBITDA Q/Q Growth		 -22.97% 79.49% -36.98% -44.51% -25.76% 220.21% -42.64% -54.03% 148.59% - 106.36%
EBIT Q/Q Growth		 -8.02% 106.65% -46.72% -88.01% -239.01% 730.19% -81.11% -313.25% 159.89% - 103.45%
NOPAT Q/Q Growth		 -16.07% 113.19% -45.42% -99.90% -18,999.13% 594.19% -102.20% -2,074.04% 83.85% - 103.66%
Net Income Q/Q Growth		 -5.28% 114.36% -47.66% -99.60% -21,190.68% 152.23% -115.00% -1,345.25% 111.09% - 102.45%
EPS Q/Q Growth		 0.00% 125.00% -44.44% -100.00% 0.00% 166.67% -100.00% 0.00% 100.00% - 102.35%
Operating Cash Flow Q/Q Growth		 -47.09% 62.15% -46.74% -142.72% 350.13% 248.45% -53.37% -69.28% 195.79% - -37.19%
Free Cash Flow Firm Q/Q Growth		 34.81% -1,010.15% 120.02% -2,023.24% -14.76% 17.64% -43.96% 57.55% 27.96% - 2,979.81%
Invested Capital Q/Q Growth		 -2.27% 168.19% -62.47% 479.06% 10.97% 15.22% 1.17% 12.67% -0.53% - -0.74%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 72.46% 88.62% 71.19% 55.02% 54.65% 69.84% 56.63% 56.37% 55.77% - 56.17%
EBITDA Margin		 23.26% 24.78% 23.52% 8.23% 5.87% 13.10% 10.35% 4.70% 10.68% - 11.32%
Operating Margin		 14.54% 18.52% 14.87% 0.32% -2.38% 5.63% -0.25% -5.33% -0.82% - 6.30%
EBIT Margin		 17.18% 21.06% 16.90% 1.28% -1.71% 7.49% 1.95% -4.11% 2.25% - 6.41%
Profit (Net Income) Margin		 15.85% 20.16% 15.89% 0.04% -8.04% 2.92% -0.60% -8.63% 0.87% - 4.33%
Tax Burden Percent		 91.74% 96.84% 93.34% 2.89% 230.22% 97.64% 43.45% 115.13% 67.24% - 75.70%
Interest Burden Percent		 100.57% 98.83% 100.73% 107.39% 204.56% 39.97% -71.33% 182.44% 57.84% - 89.17%
Effective Tax Rate		 8.26% 8.86% 6.66% 97.11% 0.00% -1.87% 0.00% 0.00% 32.76% - 24.30%
Return on Invested Capital (ROIC)		 60.82% 57.67% 99.22% 0.02% -4.32% 11.60% -0.47% -6.10% -0.90% - 11.46%
ROIC Less NNEP Spread (ROIC-NNEP)		 57.34% 50.73% 96.16% -0.10% 22.78% 28.69% 1.53% 99.59% -25.22% - 21.39%
Return on Net Nonoperating Assets (RNNOA)		 -30.30% -19.97% -50.20% 0.02% -3.39% -3.29% -0.20% -1.85% 0.62% - -0.59%
Return on Equity (ROE)		 30.53% 37.70% 49.01% 0.04% -7.71% 8.30% -0.66% -7.95% -0.28% - 10.87%
Cash Return on Invested Capital (CROIC)		 23.51% -45.46% 110.22% -115.67% -134.05% -98.42% -154.06% -39.53% -28.41% - -1.08%
Operating Return on Assets (OROA)		 32.73% 34.85% 50.63% 1.40% -1.96% 7.71% 2.63% -3.53% 1.90% - 7.49%
Return on Assets (ROA)		 30.20% 33.35% 47.60% 0.04% -9.23% 3.01% -0.81% -7.42% 0.74% - 5.05%
Return on Common Equity (ROCE)		 29.05% 36.04% 49.01% 0.04% -7.45% 8.07% -0.64% -7.79% -0.27% - 10.50%
Return on Equity Simple (ROE_SIMPLE)		 12.68% 0.00% 58.27% 0.00% 0.00% 0.00% -5.18% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 2.96 6.32 3.45 0.00 -0.68 3.38 -0.07 -1.61 -0.26 -65 2.39
NOPAT Margin		 13.34% 16.88% 13.88% 0.01% -1.67% 5.74% -0.17% -3.73% -0.55% - 4.77%
Net Nonoperating Expense Percent (NNEP)		 3.48% 6.95% 3.06% 0.12% -27.10% -17.10% -2.00% -105.69% 24.33% - -9.93%
Return On Investment Capital (ROIC_SIMPLE)		 - 10.53% 10.73% 0.00% -0.51% 2.41% -0.05% -1.09% -0.18% -99.77% 3.77%
Cost of Revenue to Revenue		 27.54% 11.38% 28.81% 44.98% 45.35% 30.16% 43.37% 43.63% 44.23% - 43.83%
SG&A Expenses to Revenue		 57.92% 70.10% 56.33% 54.70% 57.03% 64.20% 56.88% 61.70% 56.59% - 49.87%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 57.92% 70.10% 56.33% 54.70% 57.03% 64.20% 56.88% 61.70% 56.59% - 49.87%
Earnings before Interest and Taxes (EBIT)		 3.82 7.88 4.20 0.50 -0.70 4.41 0.83 -1.78 1.06 -93 3.21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5.17 9.27 5.84 3.24 2.41 7.71 4.42 2.03 5.05 -89 5.67
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.38 1.45 3.17 0.98 0.88 0.67 0.65 0.50 0.33 - 5.27
Price to Tangible Book Value (P/TBV)		 5.76 1.95 5.19 0.00 0.00 0.00 0.00 0.00 0.00 - 18.80
Price to Revenue (P/Rev)		 1.61 0.92 0.95 0.71 0.58 0.47 0.41 0.35 0.22 - 1.35
Price to Earnings (P/E)		 22.98 6.26 5.61 6.03 10.78 0.00 0.00 0.00 0.00 - 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 4.35% 15.98% 17.83% 16.59% 9.28% 0.00% 0.00% 0.00% 0.00% - 0.00%
Enterprise Value to Invested Capital (EV/IC)		 5.99 1.67 5.69 0.98 0.88 0.69 0.65 0.51 0.33 - 5.42
Enterprise Value to Revenue (EV/Rev)		 1.36 0.71 0.79 0.68 0.59 0.50 0.43 0.37 0.23 - 1.34
Enterprise Value to EBITDA (EV/EBITDA)		 10.09 3.16 3.13 3.59 4.05 4.92 5.25 5.10 2.70 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 14.77 4.27 4.21 5.14 7.07 16.70 63.62 0.00 65.81 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 20.57 5.36 5.19 6.78 12.32 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 5.73 2.80 3.04 5.24 5.36 3.15 2.68 2.05 1.23 - 11.21
Enterprise Value to Free Cash Flow (EV/FCFF)		 26.33 0.00 5.12 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.31 0.36 0.29 0.25 0.18 0.15 - 0.26
Long-Term Debt to Equity		 0.00 0.00 0.00 0.25 0.18 0.13 0.12 0.09 0.07 - 0.10
Financial Leverage		 -0.53 -0.39 -0.52 -0.17 -0.15 -0.11 -0.13 -0.02 -0.02 - -0.03
Leverage Ratio		 1.13 1.25 1.14 1.87 1.92 1.74 1.74 1.87 1.88 - 2.00
Compound Leverage Factor		 1.13 1.24 1.15 2.00 3.93 0.69 -1.24 3.40 1.08 - 1.78
Debt to Total Capital		 0.00% 0.00% 0.00% 23.94% 26.35% 22.24% 20.26% 15.26% 13.38% - 20.35%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 5.07% 13.07% 11.98% 10.70% 7.58% 7.42% - 12.69%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 18.87% 13.28% 10.25% 9.55% 7.68% 5.96% - 7.67%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 1.59% 0.00% 0.72% 3.24% 2.77% 2.73% 2.51% 2.42% - 2.69%
Common Equity to Total Capital		 100.00% 98.41% 100.00% 75.34% 70.42% 75.00% 77.01% 82.23% 84.20% - 76.96%
Debt to EBITDA		 0.00 0.00 0.00 1.21 1.70 2.04 2.06 1.78 1.28 - -0.17
Net Debt to EBITDA		 0.00 0.00 0.00 -0.19 -0.15 0.07 -0.08 0.03 -0.16 - 0.04
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.95 0.86 0.94 0.97 0.89 0.57 - -0.06
Debt to NOPAT		 0.00 0.00 0.00 2.29 5.17 -9.73 -38.60 -9.22 -9.68 - -0.20
Net Debt to NOPAT		 0.00 0.00 0.00 -0.35 -0.46 -0.32 1.51 -0.15 1.19 - 0.05
Long-Term Debt to NOPAT		 0.00 0.00 0.00 1.80 2.61 -4.49 -18.20 -4.64 -4.31 - -0.07
Altman Z-Score		 17.12 5.26 15.25 1.62 1.41 1.45 1.50 1.43 1.38 - 3.67
Noncontrolling Interest Sharing Ratio		 4.84% 4.40% 0.00% 0.71% 3.35% 2.86% 2.66% 2.12% 3.49% - 3.41%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 5.40 1.53 5.16 0.95 0.82 0.71 0.74 0.61 0.61 - 0.57
Quick Ratio		 4.99 1.34 4.61 0.80 0.69 0.58 0.60 0.47 0.46 - 0.42
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.02 -18 3.69 -71 -81 -67 -96 -41 -30 -2.31 67
Operating Cash Flow to CapEx		 673.50% 368.15% 478.19% -322.11% 193.95% 521.16% 698.89% 96.38% 827.40% - 0.00%
Free Cash Flow to Firm to Interest Expense		 499.76 -1,588.65 843.49 -2,182.85 -102.98 -24.84 -65.57 -27.64 -57.78 - 188.19
Operating Cash Flow to Interest Expense		 1,274.90 722.00 1,019.88 -58.63 6.03 6.15 5.26 1.60 13.77 - 14.57
Operating Cash Flow Less CapEx to Interest Expense		 1,085.61 525.88 806.60 -76.83 2.92 4.97 4.51 -0.06 12.11 - 14.68
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.91 1.65 3.00 1.09 1.15 1.03 1.35 0.86 0.85 - 1.17
Accounts Receivable Turnover		 19.06 30.34 26.20 20.81 21.28 30.83 28.66 22.11 21.29 - 28.31
Inventory Turnover		 20.60 38.63 11.82 13.56 16.08 30.72 20.37 18.53 15.33 - 17.01
Fixed Asset Turnover		 919.28 6.67 1,805.15 8.91 9.76 5.47 12.25 6.08 6.17 - 6.93
Accounts Payable Turnover		 13.46 3.90 9.44 6.17 6.49 5.16 7.29 5.70 5.02 - 4.57
Days Sales Outstanding (DSO)		 19.15 12.03 13.93 17.54 17.15 11.84 12.74 16.51 17.15 - 12.89
Days Inventory Outstanding (DIO)		 17.72 9.45 30.89 26.93 22.70 11.88 17.92 19.70 23.81 - 21.46
Days Payable Outstanding (DPO)		 27.11 93.60 38.68 59.20 56.21 70.70 50.08 64.00 72.77 - 79.81
Cash Conversion Cycle (CCC)		 9.76 -72.12 6.14 -14.74 -16.37 -46.98 -19.43 -27.79 -31.82 - -45.45
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 15 40 15 86 95 110 111 125 125 47 47
Invested Capital Turnover		 4.56 3.42 7.15 2.45 2.59 2.02 2.68 1.64 1.63 - 2.40
Increase / (Decrease) in Invested Capital		 0.94 25 -0.24 71 81 70 96 39 29 -63 -64
Enterprise Value (EV)		 88 66 84 84 84 75 73 65 41 - 255
Market Capitalization		 105 86 102 88 83 70 70 60 40 - 257
Book Value per Share		 $0.86 $1.63 $0.88 $2.45 $0.78 $0.82 $0.82 $0.88 $0.89 $0.33 $0.35
Tangible Book Value per Share		 $0.50 $1.22 $0.54 ($0.43) ($0.19) ($0.18) ($0.14) ($0.06) ($0.04) $0.08 $0.10
Total Capital		 31 60 32 119 134 140 141 147 147 66 63
Total Debt		 0.00 0.00 0.00 28 35 31 29 23 20 17 13
Total Long-Term Debt		 0.00 0.00 0.00 22 18 14 13 11 8.75 6.59 4.85
Net Debt		 -16 -20 -17 -4.38 -3.14 1.03 -1.12 0.37 -2.41 -0.91 -3.35
Capital Expenditures (CapEx)		 0.77 2.27 0.93 0.59 2.46 3.19 1.11 2.47 0.85 1.76 -0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1.86 -11 2.21 -30 -34 -32 -31 -36 -36 -32 -31
Debt-free Net Working Capital (DFNWC)		 18 9.36 20 3.27 4.77 -1.69 -0.99 -13 -14 -14 -15
Net Working Capital (NWC)		 18 9.36 20 -2.76 -13 -18 -16 -25 -25 -24 -23
Net Nonoperating Expense (NNE)		 -0.56 -1.23 -0.50 -0.01 2.61 1.66 0.18 2.12 -0.67 23 0.22
Net Nonoperating Obligations (NNO)		 -16 -20 -17 -4.38 -3.14 1.03 -1.12 0.37 -2.41 -0.91 -3.35
Total Depreciation and Amortization (D&A)		 1.35 1.39 1.64 2.74 3.11 3.30 3.59 3.81 3.99 3.76 2.46
Debt-free, Cash-free Net Working Capital to Revenue		 2.85% -11.88% 2.06% -23.85% -23.57% -21.06% -18.14% -20.57% -20.33% - -16.28%
Debt-free Net Working Capital to Revenue		 27.63% 10.06% 18.21% 2.64% 3.34% -1.12% -0.59% -7.77% -8.02% - -7.75%
Net Working Capital to Revenue		 27.63% 10.06% 18.21% -2.23% -8.92% -12.23% -9.51% -14.23% -14.10% - -11.97%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.03) $0.09 $0.00 $0.00 ($0.03) $0.02 $0.00 ($0.03) $0.00 ($91.92) $0.18
Adjusted Weighted Average Basic Shares Outstanding		 36.13M 83.48M 36.28M 120.58M 121.51M 113.51M 131.73M 137.97M 139.77M 965.76K 12.64M
Adjusted Diluted Earnings per Share		 ($0.03) $0.09 $0.00 $0.00 ($0.03) $0.02 $0.00 ($0.03) $0.00 ($91.92) $0.18
Adjusted Weighted Average Diluted Shares Outstanding		 36.13M 83.48M 38.78M 128.46M 121.51M 113.51M 131.73M 137.97M 142.76M 965.76K 12.79M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($91.92) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 36.13M 36.25M 36.62M 120.84M 128.90M 132.09M 138.39M 139.48M 141.24M 1.05M 12.67M
Normalized Net Operating Profit after Tax (NOPAT)		 2.96 6.32 3.45 0.09 -0.68 2.32 -0.07 -1.61 -0.26 -65 2.39
Normalized NOPAT Margin		 13.34% 16.88% 13.88% 0.22% -1.67% 3.94% -0.17% -3.73% -0.55% - 4.77%
Pre Tax Income Margin		 17.28% 20.82% 17.02% 1.37% -3.49% 2.99% -1.39% -7.50% 1.30% - 5.72%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 942.22 680.06 960.93 15.50 -0.89 1.63 0.57 -1.20 2.08 - 9.08
NOPAT to Interest Expense		 731.81 544.91 788.87 0.11 -0.86 1.25 -0.05 -1.09 -0.51 - 6.76
EBIT Less CapEx to Interest Expense		 752.92 483.94 747.65 -2.70 -3.99 0.45 -0.19 -2.86 0.42 - 9.19
NOPAT Less CapEx to Interest Expense		 542.51 348.79 575.59 -18.09 -3.97 0.07 -0.80 -2.75 -2.17 - 6.86
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 12.95% 0.00% 17.09% 13.99% -54.58% 0.00% 0.51% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 12.95% 0.00% 17.09% 14.01% -63.31% 0.00% 0.51% -2.15% - 0.00%

Financials Breakdown Chart

Key Financial Trends

Meridian (NASDAQ: MRDN) had a very difficult end to 2025, with a sharp reversal from the prior-year profit trend. Revenue grew modestly year over year in Q4 2025, but expenses rose much faster, pushing the company to a large operating loss and a sizable net loss. Cash flow remained positive from operations, but profitability and balance sheet leverage look strained.

  • Q4 2025 operating cash flow was $8.2 million, showing the business still generated cash from core operations despite the reported loss.
  • Revenue increased to $49.6 million in Q4 2025 from $47.3 million in Q3 2025, indicating some top-line growth at the end of the year.
  • Gross profit improved to $28.5 million in Q4 2025, up from $26.4 million in Q3 2025.
  • The company ended Q3 2025 with $22.0 million in cash and equivalents, which provides some near-term liquidity.
  • Non-cash items, including depreciation and amortization, continue to support operating cash flow, which can help offset reported accounting losses.
  • Balance sheet equity remained positive at $127.1 million in Q3 2025, despite high liabilities.
  • Q4 2025 operating income fell to a loss of $93.4 million, compared with a loss of just $0.4 million in Q3 2025 and a profit in late 2024.
  • Selling, general and administrative expense surged to $121.9 million in Q4 2025, far above revenue and the main driver of the loss.
  • Q4 2025 net loss attributable to common shareholders was $88.7 million, or -$7.66 per share.
  • The balance sheet shows heavy leverage, with $82.7 million of total liabilities against $123.5 million of common equity in Q3 2025.
  • Cash and equivalents declined from $29.7 million in Q1 2025 to $22.0 million in Q3 2025, while debt remained significant, including $10.9 million of short-term debt and $8.7 million of long-term debt in Q3 2025.
  • Compared with Q4 2024, when the company earned $1.8 million in net income, Q4 2025 reflects a major deterioration in operating performance.

Looking at the full year trend, Meridian’s results were volatile. In early and mid-2024, the company generated meaningful profits and cash flow, but by 2025 the income statement weakened sharply. Revenue did rise from Q1 2025 through Q4 2025, but rising operating costs and especially SG&A overwhelmed that growth.

For retail investors, the key takeaway is that Meridian is still producing operating cash, but profitability has broken down. The business appears to be carrying a high cost structure and a leveraged balance sheet, which may keep pressure on the stock until management shows sustained margin improvement and tighter expense control.

07/22/26 03:54 PM ETAI Generated. May Contain Errors.

Meridian Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Meridian's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Meridian's net income appears to be on an upward trend, with a most recent value of -$91.98 million in 2025, rising from -$1.38 million in 2014. The previous period was -$1.41 million in 2024. See Meridian's forecast for analyst expectations on what's next for the company.

Meridian's total operating income in 2025 was -$96.17 million, based on the following breakdown:
  • Total Gross Profit: $103.46 million
  • Total Operating Expenses: $199.63 million

Over the last 10 years, Meridian's total revenue changed from $0.00 in 2014 to $182.86 million in 2025, a change of 18,286,337,300.0%.

Meridian's total liabilities were at $69.74 million at the end of 2025, a 33.4% decrease from 2024, and a 6,335.4% increase since 2014.

In the past 10 years, Meridian's cash and equivalents has ranged from $0.00 in 2015 to $30.13 million in 2024, and is currently $18.08 million as of their latest financial filing in 2025.

Over the last 10 years, Meridian's book value per share changed from 0.00 in 2014 to 0.33 in 2025, a change of -12,307.4%.


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Financial statements for NASDAQ:MRDN last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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