Meridian Holdings posted a $13.3 million Q3 loss as non-cash impairments and a Brazilian market exit weighed on results, though the company achieved its seventh consecutive quarter of net debt reduction.
The Q3 2026 results are weaker than anticipated: revenue fell 3% to $46 million and the company reported a net loss of $13.3 million, or $1.05 per share, driven by $11.5 million of non-cash impairments. Management suspended Brazilian operations after the fixed-odds betting ban and wrote off the $5.5 million Brazilian gaming license, with the outlook assuming no Brazil revenue for the rest of 2026. Offsetting positives are 10% nine-month revenue growth to $146.3 million, a seventh consecutive quarter of net debt reduction and $17.7 million of operating cash flow, but the surprise loss and loss
Meridian Holdings reported a $13.3 million net loss for Q3 2026, driven by $11.5 million in non-cash impairment charges, including a $5.5 million write-off of its Brazilian gaming license. Quarterly revenue declined 3% to $46 million, impacted by customer-favorable sports results and a 15% drop in online sports betting revenue. Despite these headwinds, the company maintained strong cash generation with $17.7 million in operating cash flow over nine months.
The loss of $13.3 million, or $1.05 per share, was mainly caused by $11.5 million of non-cash impairment charges, including a $5.5 million write-off of the Brazilian gaming license after Brazil banned fixed-odds betting, plus $5.9 million of goodwill impairment in the GMAG/RKings/Classics for a Cause unit.
Yes: over the first nine months revenue grew 10% to $146.3 million, online casino revenue rose 21%, operating cash flow was $17.7 million, and net debt was reduced for the seventh consecutive quarter, though Q3 revenue itself declined 3% to $46 million.