Filing Flows › Meridian (MRBK) › Q1 2025
Meridian (MRBK) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Meridian (MRBK) reported revenue of $27.1M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -17% from the quarter before. Operating margin was 11.6%, net earnings $2.4M (8.9% of revenue).
Meridian, Q1 2025: revenue $27.1M (+10% year over year), operating margin 11.6%, net earnings $2.4M, operating cash flow $18.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.1M | -17% | +10% |
| Operating profit | $3.1M | -59% | -11% |
| Net earnings | $2.4M | -57% | -10% |
| Operating cash flow | $18.1M | — | — |
| Free cash flow | $17.9M | — | — |
What changed
Revenue was $27.1M in Q1 2025, up 10% year over year and down 17% from the previous quarter.
Operating profit was $3.1M, a 11.6% margin (down 2.8 points year over year). Operating profit fell $408K even though revenue rose $2.5M versus a year earlier, so costs grew faster than sales. Total costs grew 14% against revenue growth of 10%. The fastest-growing cost line was Credit loss provision (+82%). Net earnings were $2.4M, down 10% year over year. The effective tax rate was 23.7%.
Operating cash flow was $18.1M, 755% of net earnings. Non-cash charges added back $118K of share-based compensation. Working capital and other items added $15.6M. Capital expenditures of $259K left free cash flow of $17.9M.
Questions
What was Meridian's revenue in the first quarter 2025?
Meridian (MRBK) reported revenue of $27.1M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -17% from the quarter before.
Was Meridian profitable in the first quarter 2025?
Operating profit was $3.1M (11.6% of revenue) and net earnings $2.4M.
Source: Meridian 10-Q on SEC EDGAR.