Meridian (MRDN)
Market Price (4/30/2026): $7.73 | Market Cap: $97.7 MilSector: Communication Services | Industry: Interactive Home Entertainment
Meridian (MRDN)
Market Price (4/30/2026): $7.73Market Cap: $97.7 MilSector: Communication ServicesIndustry: Interactive Home Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 13% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Attractive yieldFCF Yield is 11% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology. | Weak multi-year price returns2Y Excs Rtn is -123%, 3Y Excs Rtn is -140% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -89% Key risksMRDN key risks include [1] navigating complex and evolving regulations across its diverse operational markets in Europe, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 13% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Attractive yieldFCF Yield is 11% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology. |
| Weak multi-year price returns2Y Excs Rtn is -123%, 3Y Excs Rtn is -140% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.2% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -89% |
| Key risksMRDN key risks include [1] navigating complex and evolving regulations across its diverse operational markets in Europe, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Meridian (MRDN) stock has lost about 15% since 12/31/2025 because of the following key factors:
1. A 1-for-12 reverse stock split was executed in March 2026 to regain Nasdaq minimum bid compliance. This action, undertaken after Nasdaq notified Meridian Holdings of non-compliance on December 31, 2025, due to its sub-$1.00 closing bid price, often signals underlying financial distress and can lead to negative investor sentiment and a decline in stock value. The company successfully regained compliance by March 17, 2026.
2. Meridian Holdings' Q4 2025 financial results underperformed expectations. The fourth-quarter performance was impacted by unfavorable margins late in the quarter and foreign exchange headwinds, contributing to a GAAP net loss. This loss was further exacerbated by a substantial non-cash impairment charge related to goodwill and intangible assets. These factors, becoming apparent to the market after December 31, 2025, likely contributed to a downward pressure on the stock.
Show more
1. A 1-for-12 reverse stock split was executed in March 2026 to regain Nasdaq minimum bid compliance. This action, undertaken after Nasdaq notified Meridian Holdings of non-compliance on December 31, 2025, due to its sub-$1.00 closing bid price, often signals underlying financial distress and can lead to negative investor sentiment and a decline in stock value. The company successfully regained compliance by March 17, 2026.
2. Meridian Holdings' Q4 2025 financial results underperformed expectations. The fourth-quarter performance was impacted by unfavorable margins late in the quarter and foreign exchange headwinds, contributing to a GAAP net loss. This loss was further exacerbated by a substantial non-cash impairment charge related to goodwill and intangible assets. These factors, becoming apparent to the market after December 31, 2025, likely contributed to a downward pressure on the stock.
Show more
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -15.3% change in MRDN stock from 12/31/2025 to 4/29/2026 was primarily driven by a -13.4% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.61 | 8.14 | -15.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 179 | 190 | 6.2% |
| P/S Multiple | 0.6 | 0.5 | -13.4% |
| Shares Outstanding (Mil) | 12 | 13 | -7.9% |
| Cumulative Contribution | -15.3% |
Market Drivers
12/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| MRDN | -15.3% | |
| Market (SPY) | 5.2% | 17.1% |
| Sector (XLC) | -1.8% | 25.3% |
Fundamental Drivers
The -40.0% change in MRDN stock from 9/30/2025 to 4/29/2026 was primarily driven by a -40.0% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.56 | 8.14 | -40.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 173 | 190 | 10.1% |
| P/S Multiple | 0.9 | 0.5 | -40.0% |
| Shares Outstanding (Mil) | 11 | 13 | -9.0% |
| Cumulative Contribution | -40.0% |
Market Drivers
9/30/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| MRDN | -40.0% | |
| Market (SPY) | 8.0% | 13.3% |
| Sector (XLC) | -2.0% | 18.9% |
Fundamental Drivers
The -65.6% change in MRDN stock from 3/31/2025 to 4/29/2026 was primarily driven by a -70.5% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.64 | 8.14 | -65.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 138 | 190 | 37.7% |
| P/S Multiple | 1.8 | 0.5 | -70.5% |
| Shares Outstanding (Mil) | 11 | 13 | -15.4% |
| Cumulative Contribution | -65.6% |
Market Drivers
3/31/2025 to 4/29/2026| Return | Correlation | |
|---|---|---|
| MRDN | -65.6% | |
| Market (SPY) | 29.3% | 18.5% |
| Sector (XLC) | 21.0% | 19.9% |
Fundamental Drivers
The -74.4% change in MRDN stock from 3/31/2023 to 4/29/2026 was primarily driven by a -78.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312023 | 4292026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.80 | 8.14 | -74.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 38 | 190 | 401.5% |
| P/S Multiple | 2.3 | 0.5 | -76.8% |
| Shares Outstanding (Mil) | 3 | 13 | -78.0% |
| Cumulative Contribution | -74.4% |
Market Drivers
3/31/2023 to 4/29/2026| Return | Correlation | |
|---|---|---|
| MRDN | -74.4% | |
| Market (SPY) | 81.5% | 12.2% |
| Sector (XLC) | 105.5% | 7.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MRDN Return | -7% | -60% | -5% | -18% | -60% | -22% | -91% |
| Peers Return | 20% | -25% | -11% | -7% | -6% | -26% | -48% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 90% |
Monthly Win Rates [3] | |||||||
| MRDN Win Rate | 42% | 25% | 33% | 50% | 17% | 50% | |
| Peers Win Rate | 63% | 43% | 50% | 50% | 52% | 15% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| MRDN Max Drawdown | -27% | -69% | -23% | -20% | -63% | -37% | |
| Peers Max Drawdown | -14% | -37% | -28% | -19% | -31% | -29% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: BIO, QGEN, QDEL, TMO, DHR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/29/2026 (YTD)
How Low Can It Go
| Event | MRDN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -86.0% | -25.4% |
| % Gain to Breakeven | 614.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -46.6% | -33.9% |
| % Gain to Breakeven | 87.1% | 51.3% |
| Time to Breakeven | 38 days | 148 days |
| 2018 Correction | ||
| % Loss | -98.7% | -19.8% |
| % Gain to Breakeven | 7400.0% | 24.7% |
| Time to Breakeven | 847 days | 120 days |
Compare to BIO, QGEN, QDEL, TMO, DHR
In The Past
Meridian's stock fell -86.0% during the 2022 Inflation Shock from a high on 4/29/2021. A -86.0% loss requires a 614.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Meridian (MRDN)
N/A
AI Analysis | Feedback
- A regional bank similar to a smaller PNC or KeyBank.
- Like a local version of Wells Fargo, focused on specific communities.
AI Analysis | Feedback
Meridian (MRDN) provides the following major services:
- Commercial Banking: Offers various lending solutions, including commercial real estate loans, commercial and industrial loans, and construction loans to businesses.
- Retail Banking: Provides a full suite of deposit products such as checking, savings, money market, and certificates of deposit, along with residential mortgages for individual customers.
- Treasury Management: Delivers specialized cash management solutions, including online banking, remote deposit capture, and wire transfer services for businesses.
- Wealth Management: Offers financial planning, investment management, and trust services to help individuals and businesses manage their assets.
AI Analysis | Feedback
Meridian (MRDN) operated as a bank holding company for Meridian Bank prior to its acquisition. As a financial institution, it primarily served a diversified client base rather than having a few specific "major customers" in the traditional sense. Banks generate revenue from a broad range of financial products and services offered to many individuals and businesses.
Meridian Bank served the following categories of customers:
- Individuals: Providing retail banking services such as checking accounts, savings accounts, mortgages, home equity loans, and other personal banking products.
- Small to Medium-sized Businesses: Offering commercial loans, lines of credit, treasury management services, and business deposit accounts to a diverse range of local and regional companies, including professional practices.
- Commercial Real Estate Investors and Developers: Providing financing solutions for various commercial real estate projects and investments.
AI Analysis | Feedback
nullAI Analysis | Feedback
```html William Scott, President, Executive Chairman of the Board and Interim Chief Executive Officer Mr. Scott was appointed CEO in December 2025 and has a tenure of less than a year. He directly owns 0.033% of the company's shares. Weiting Feng, Chief Operating Officer, Director, Chief Financial Officer and Principal Accounting Officer Ms. Feng also serves as a Director for Meridian Holdings Inc. Zoran Milosevic, Chief Executive Officer, MeridianBet Group Mr. Milosevic is the CEO of MeridianBet Group, which is the B2C division of Meridian Holdings Inc., operating in online sports betting and gaming across multiple international markets. ```AI Analysis | Feedback
Key Risks to Meridian Holdings Inc. (MRDN)
- Regulatory and Legal Risks in the Global Gaming and Betting Industry: Meridian Holdings Inc. operates a significant portion of its business through Meridianbet Group, an online sports betting and gaming operator licensed in multiple jurisdictions across Europe, Africa, and South America. The company's success is heavily reliant on navigating complex and evolving regulatory landscapes in these diverse markets. Changes in governmental regulations, stricter licensing requirements, increased taxation, or adverse legal decisions in any of its operational regions could significantly impact its ability to operate, increase compliance costs, and potentially limit its market reach or profitability. For instance, countries like Brazil are transitioning to formal regulatory frameworks, which, while potentially reducing structural uncertainty, also introduce new compliance demands.
- Intense Competition and Market Dynamics in the Online Gaming and Betting Sector: The online gaming and betting industry is characterized by intense competition. Meridian Holdings Inc. competes through its B2C online sports betting and gaming offerings and its B2B technology and content licensing. The broader gaming sector has recently experienced "valuation headwinds," indicating a challenging market environment. Failure to continually innovate its gaming platforms and content, effectively attract and retain users, or secure B2B clients amidst aggressive competition could lead to erosion of market share, reduced revenue growth, and decreased profitability.
- Dependence on Sustained Operational Execution and Financial Performance: Following its corporate rebranding and significant restructuring, including the acquisition of Meridianbet Group, Meridian Holdings Inc. faces heightened investor scrutiny on its financial performance. The company's ability to consistently deliver on key financial metrics such as revenue trajectory across regulated markets, adjusted EBITDA consistency, net income sustainability, cash flow dynamics, and balance sheet discipline is crucial. Any failure to meet operational execution goals or achieve anticipated financial results post-restructuring could negatively impact investor confidence and the company's valuation.
AI Analysis | Feedback
null
AI Analysis | Feedback
Meridian Holdings Inc. (NASDAQ: MRDN) operates as a B2B and B2C gaming technology company with a presence across multiple international markets, primarily in Europe, Africa, and South America. The company's main products and services include online sports betting, iGaming platforms (casino games, slots), online casinos, raffle ticket businesses, and subscription-based digital memberships and trade promotion lotteries. Here are the addressable market sizes for Meridian Holdings' main products and services by region:Global Online Gambling and iGaming Markets:
- The global online gambling market is projected to reach USD 153.57 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 11.7%.
- The broader global online gaming market (including video games) was valued at USD 225.28 billion in 2025 and is projected to grow to USD 501.91 billion by 2034, with a CAGR of 9.4%.
- The global iGaming platform market is expected to be worth approximately USD 333.5 billion by 2034, growing from USD 88.4 billion in 2024 at a CAGR of 14.2% from 2025 to 2034.
Regional Market Sizes:
- Europe (Online Sports Betting and iGaming Platforms): Europe's online gambling revenue is estimated to be around €52.3 billion (approximately USD 57 billion) in 2025, with an annual growth rate of about 11%. Europe held a dominant share of over 42.8% in the global iGaming Platform Market in 2024, representing USD 37.83 billion in revenue. The region's total online gambling value is projected to reach USD 122 billion by 2034.
- Africa (Online Sports Betting and Online Casinos): The Nigerian betting industry alone is valued at over $2 billion and is expected to reach $4.7 billion over the next decade. The Middle East & Africa online gaming market reached USD 14.04 billion in 2025 and is expected to reach USD 15.85 billion in 2026.
- South America (Online Sports Betting and Online Casinos): The online gambling market in Brazil is projected to generate around $1.97 billion in revenue in 2024, with an expected annual growth rate of 16.51% from 2024 to 2028.
- Mexico (Regulated Online Casino - Mexplay, and Online Gambling): The Mexico online gambling market generated USD 1,616.9 million in 2024 and is expected to reach USD 3,156.5 million by 2030, with a CAGR of 11.9% from 2025 to 2030. Specifically, the online casino market in Mexico is anticipated to reach US$ 943.7 million by 2030, growing at a CAGR of 13.6% from 2025 to 2030. Another estimate for the Mexico online gambling market is $830 million in 2025, with a projected CAGR of 15.36% from 2025 to 2033.
- United Kingdom (Raffle Ticker Business - RKings Competitions): The UK market for prize draws and competitions (PDCs), which includes raffles, is estimated to have an annual spend of £1.3 billion (ranging from £700 million to £2.1 billion) as of November 2023. The broader UK lottery market generated USD 17,241.8 million in 2024 and is expected to reach USD 26,312.6 million by 2030, growing at a CAGR of 7.4% from 2025 to 2030.
- Australia (Subscription-based Digital Memberships and Trade Promotion Lotteries - Classics for a Cause): The Australia online gambling market size reached USD 6130.48 million in 2025 and is projected to reach almost USD 13101.06 million by 2035, growing at a CAGR of 7.89% between 2026 and 2035. Another report indicates the Australia online gambling market size was USD 5.5 billion in 2025, estimated to reach USD 9.0 billion by 2034 with a CAGR of 5.67% from 2026-2034. The lotteries industry in Australia is estimated to grow to $13.5 billion by 2023-24.
AI Analysis | Feedback
Meridian (NASDAQ: MRDN) is expected to drive future revenue growth over the next 2-3 years through several key initiatives focused on expanding its market presence, leveraging its integrated gaming platforms, and growing its product offerings.
The following are 3-5 expected drivers of future revenue growth:
- International Expansion in Regulated Markets: Meridian is actively pursuing expansion in regulated markets, with a particular focus on regions like Brazil, which is transitioning towards a formal regulatory framework. The company has reported strong user acquisition metrics, including significant increases in registrations and deposit activity, within these expanding international markets.
- Growth in Online Casino and Raffle Operations: The company anticipates continued revenue growth from its online casino and raffle operations. This is supported by the consistent expansion of its online casino offerings, including the launch of over 2,500 new games.
- Leveraging B2B Gaming Technology and Content Licensing: Meridian's B2B division, which includes game developer Expanse Studios and the iGaming platform GMAG, is focused on developing, licensing, and distributing proprietary gaming platforms to a global client base. This segment is a key driver for revenue generation through technology and content licensing to other operators.
- Integration and Geographic Footprint Expansion from Meridianbet Group Acquisition: The acquisition of Meridianbet Group in 2024 significantly expanded Meridian's geographic footprint across various regulated jurisdictions in Europe, Africa, and South America. The ongoing integration of Meridianbet Group's operations and its broader reach are expected to contribute to increased revenue.
- Vertical Integration and In-house Game Development: Meridian's vertically integrated structure, particularly its in-house game development capabilities, is expected to enhance gross margins by reducing reliance on third-party royalty payments. This strategic advantage allows the company to offer more competitive products and potentially drive higher revenue through proprietary content.
AI Analysis | Feedback
Share Repurchases
- Golden Matrix Group, Inc., the company now known as Meridian Holdings Inc., announced an Equity Buyback program for $3 million worth of its shares in December 2025.
Share Issuance
- Meridian Holdings Inc. completed a 1-for-12 reverse stock split effective March 3, 2026, which reduced its outstanding shares from approximately 151.7 million to 12.6 million and authorized shares from 300 million to 25 million.
- The company, under its former name Golden Matrix Group, established an at-the-market (ATM) program allowing it to sell up to US$13.0 million of common stock.
- As of a March 2026 filing, 332,166 shares, valued at US$609,376, had been issued under the ATM program, leaving US$19.39 million in total capacity, subject to a US$13.0 million immediate ceiling.
Outbound Investments
- Meridian Holdings Inc. acquired 100% of Meridianbet Group in 2024, an acquisition that significantly expanded its geographic footprint across Europe, Africa, and South America.
- The acquisition of Meridianbet Group involved both cash and stock consideration.
- The company's other subsidiaries include RKings Competitions in the UK, Mexplay in Mexico, and Classics for a Cause in Australia.
Capital Expenditures
- Meridian Holdings maintained a solid cash position of $22 million as of Q3 2025, supporting ongoing investment in platform innovation and geographic expansion.
Trade Ideas
Select ideas related to MRDN.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03272026 | META | Meta Platforms | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 8.8% | 8.8% | 0.0% |
| 03062026 | CARG | CarGurus | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.2% | 1.2% | -8.3% |
| 02282026 | QDEL | QuidelOrtho | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | -27.7% | -27.7% | -35.0% |
| 02132026 | YELP | Yelp | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.9% | 17.9% | -5.7% |
| 02132026 | TRIP | Tripadvisor | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 10.9% | 10.9% | -3.9% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 106.21 |
| Mkt Cap | 7.2 |
| Rev LTM | 2,657 |
| Op Inc LTM | 369 |
| FCF LTM | 411 |
| FCF 3Y Avg | 415 |
| CFO LTM | 593 |
| CFO 3Y Avg | 596 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.0% |
| Rev Chg 3Y Avg | -0.4% |
| Rev Chg Q | 3.8% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | 1.9% |
| Op Inc Chg 3Y Avg | -5.9% |
| Op Mgn LTM | 13.3% |
| Op Mgn 3Y Avg | 14.1% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 19.1% |
| CFO/Rev 3Y Avg | 19.1% |
| FCF/Rev LTM | 14.3% |
| FCF/Rev 3Y Avg | 15.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 7.2 |
| P/S | 3.1 |
| P/Op Inc | 17.9 |
| P/EBIT | 10.2 |
| P/E | 13.0 |
| P/CFO | 12.3 |
| Total Yield | 3.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.8% |
| 3M Rtn | -21.7% |
| 6M Rtn | -22.6% |
| 12M Rtn | -15.2% |
| 3Y Rtn | -30.6% |
| 1M Excs Rtn | -15.3% |
| 3M Excs Rtn | -24.0% |
| 6M Excs Rtn | -28.5% |
| 12M Excs Rtn | -43.4% |
| 3Y Excs Rtn | -104.6% |
Price Behavior
Price Behavior
| Market Price | $8.14 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 01/25/2017 | |
| Distance from 52W High | -65.0% | |
| 50 Days | 200 Days | |
| DMA Price | $7.57 | $10.93 |
| DMA Trend | down | down |
| Distance from DMA | 7.6% | -25.5% |
| 3M | 1YR | |
| Volatility | 106.9% | 82.6% |
| Downside Capture | 0.98 | 1.03 |
| Upside Capture | 116.61 | 10.61 |
| Correlation (SPY) | 13.7% | 16.3% |
MRDN Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.42 | 1.29 | 1.59 | 0.90 | 0.80 | 0.68 |
| Up Beta | -4.88 | -3.36 | 0.60 | 0.58 | 0.89 | 0.76 |
| Down Beta | 2.07 | 2.70 | 1.19 | 1.01 | 0.71 | 0.93 |
| Up Capture | 120% | 182% | 170% | 7% | 3% | 3% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 17 | 24 | 52 | 106 | 329 |
| Down Capture | -33% | 144% | 201% | 151% | 128% | 94% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 25 | 39 | 74 | 141 | 403 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRDN | |
|---|---|---|---|---|
| MRDN | -66.1% | 82.4% | -0.95 | - |
| Sector ETF (XLC) | 23.3% | 13.2% | 1.33 | 19.2% |
| Equity (SPY) | 31.5% | 12.5% | 1.93 | 16.7% |
| Gold (GLD) | 35.2% | 27.2% | 1.09 | -5.4% |
| Commodities (DBC) | 46.7% | 18.1% | 1.99 | -2.7% |
| Real Estate (VNQ) | 12.8% | 13.4% | 0.65 | 6.7% |
| Bitcoin (BTCUSD) | -19.6% | 42.1% | -0.40 | 10.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRDN | |
|---|---|---|---|---|
| MRDN | -41.5% | 86.1% | -0.25 | - |
| Sector ETF (XLC) | 9.9% | 20.7% | 0.39 | 8.5% |
| Equity (SPY) | 13.1% | 17.1% | 0.60 | 11.9% |
| Gold (GLD) | 20.1% | 17.8% | 0.92 | -3.0% |
| Commodities (DBC) | 14.6% | 19.1% | 0.63 | 3.4% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 9.0% |
| Bitcoin (BTCUSD) | 8.1% | 56.2% | 0.36 | 4.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRDN | |
|---|---|---|---|---|
| MRDN | -50.3% | 257.4% | 0.74 | - |
| Sector ETF (XLC) | 9.5% | 22.3% | 0.50 | 6.9% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 5.3% |
| Gold (GLD) | 13.4% | 15.9% | 0.70 | 1.6% |
| Commodities (DBC) | 9.6% | 17.7% | 0.45 | 3.2% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 3.4% |
| Bitcoin (BTCUSD) | 67.5% | 66.9% | 1.07 | 3.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/31/2026 | -3.2% | -8.3% | |
| 10/30/2025 | 2.0% | 2.0% | -17.6% |
| 8/6/2025 | -3.2% | -10.3% | -36.7% |
| 3/24/2025 | 3.5% | 3.0% | 7.1% |
| 11/12/2024 | -3.4% | -12.4% | -31.4% |
| 8/13/2024 | 3.2% | 14.3% | 6.9% |
| 6/4/2024 | -10.2% | -35.1% | -52.8% |
| 3/14/2024 | 0.7% | 3.1% | -12.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 8 | 4 |
| # Negative | 8 | 11 | 14 |
| Median Positive | 2.9% | 6.2% | 4.7% |
| Median Negative | -3.5% | -8.3% | -16.9% |
| Max Positive | 5.0% | 14.3% | 7.1% |
| Max Negative | -10.2% | -35.1% | -52.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 01/31/2024 | 03/14/2024 | 10-Q |
| 10/31/2023 | 01/17/2024 | 10-K |
| 07/31/2023 | 09/07/2023 | 10-Q |
| 04/30/2023 | 06/14/2023 | 10-Q |
| 01/31/2023 | 03/16/2023 | 10-Q |
| 10/31/2022 | 01/30/2023 | 10-K |
| 07/31/2022 | 09/07/2022 | 10-Q |
| 04/30/2022 | 06/03/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 51.00 Mil | 52.00 Mil | 53.00 Mil | 20.4% | Higher New | Actual: 43.20 Mil for Q2 2025 | |
Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 52.70 Mil | 53.20 Mil | 53.70 Mil | Higher New | |||
| 2025 Revenue | 186.00 Mil | 186.50 Mil | 187.00 Mil | 0 | Affirmed | Guidance: 186.50 Mil for 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Goodman, Anthony Brian | Direct | Sell | 4232026 | 6.34 | 4,603 | 29,183 | 3,319,998 | Form | |
| 2 | Goodman, Anthony Brian | Direct | Sell | 4232026 | 6.90 | 404 | 2,788 | 3,645,008 | Form | |
| 3 | Goodman, Anthony Brian | Direct | Sell | 4232026 | 6.92 | 3,876 | 26,822 | 3,658,369 | Form | |
| 4 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 6.93 | 6,900 | 47,817 | 3,690,516 | Form | |
| 5 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 6.90 | 100 | 690 | 3,722,150 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.