MRLN
Merlin, Inc.NASDAQ
Industrials • Aerospace & Defense
$0.87+12.22%
Close Nov 6, 2026
- Market cap
- $79.42M
- 1 month
- -36.0%
- 3 months
- -80.4%
- 1 year
- —
- Dividend, last 12 mo
- None in the last year
- Last ex-date
- Nov 5, 2021 · $0.14
- Next-quarter EPS estimate
- -$0.30Quarter to Sep 30, 2026 · 4 analysts · revenue $2.23M · 0.0% in 30d
- Short interest
- 26.2% of float11.8M shares · settled Oct 15, 2026 · -3.4% since Sep 30, 2026 · FINRA
Fundamentals · trailing 12 months to Jun 30, 2026
- Revenue
- —
- Net income
- -$147.56M
- Free cash flow
- -$89.68M
- Book value
- $62.57M
- Total debt
- $2.19M
- P/E
- —
- Price / sales
- —
- Price / book
- 1.3×
- FCF yield
- -112.9%
- Net margin
- —
EODHD (TTM) · as of Nov 6, 2026
End-of-day close from stored market data, not a live quote.
About Merlin, Inc.
Merlin, Inc., an aerospace and defense technology company, develops AI-powered autonomous flight software and systems for aircraft in the United States and New Zealand. The company provides an aircraft-agnostic, AI-powered software platform that enables autonomous flight for both legacy and next-generation airborne systems.
Read more
Its main product, the Merlin Pilot, is an integrated hardware and software solution that manages navigation, communication with air traffic control, obstacle avoidance, and real-time decision-making using sensor technologies and natural language processing. The company supports both military and civil aviation programs, offering solutions for missions such as cargo transport and national security operations. It collaborates with partners and regulatory bodies to conduct flight trials and support the certification of autonomous flight systems. The company serves defense organizations, commercial aviation clients, government agencies, regulators, and air cargo operators. The company was founded in 2018 and is based in Boston, Massachusetts.
- Website
- merlinlabs.com
- Headquarters
- Boston, MA, United States
- Listed
- Nov 12, 2003
- Fiscal year ends
- December
Company profile from EODHD, stored Nov 3, 2026.
Quarterly results
The last 8 fiscal quarters as reported (EODHD). Year over year compares the same quarter a year earlier.
| Quarter | Revenue | YoY | Gross margin | Op. income | Net income |
|---|---|---|---|---|---|
| Jun 2026filed Aug 14, 2026 | $2.2M | -29.4% | 4.7% | -$33.5M | -$58.4M |
| Mar 2026filed May 15, 2026 | $1.0M | +15.4% | -63.7% | -$27.0M | -$90.4M |
| Dec 2025filed Mar 12, 2026 | — | — | — | -$1.3M | $1.2M |
| Sep 2025filed Sep 30, 2025 | $1.9M | — | -105.0% | -$2.6M | $83.7K |
| Jun 2025filed Jun 30, 2025 | $3.1M | — | 1.3% | -$357.8K | $2.3M |
| Mar 2025filed May 1, 2025 | $868.0K | — | 17.7% | -$11.4M | -$12.7M |
| Dec 2024filed Dec 31, 2024 | $862.0K | — | -110.0% | -$12.3M | -$13.4M |
| Sep 2024filed Dec 9, 2024 | — | — | — | -$47.4K | -$47.4K |
Fiscal years · last 3
| Fiscal year | Revenue | YoY | Gross margin | Op. income | Net income |
|---|---|---|---|---|---|
| Dec 2025filed Mar 12, 2026 | — | — | — | -$4.5M | $6.0M |
| Dec 2024filed Dec 31, 2024 | $1.2M | +22.5% | -591.6% | -$54.0M | -$55.3M |
| Dec 2023filed Dec 31, 2023 | $1.0M | — | 26.7% | -$38.4M | -$36.5M |
Short-interest history
FINRA reports open short positions for a settlement date. The publication date is later. These are reported positions, with a separate date for each observation.
Compare the reported short exposure around the dates you bought, sold or watched MRLN. A long position benefits from price rises; a short position benefits from falls. A change in these counts does not predict either move.
Settlement Oct 15, 2026
11,751,277 shares short
-418,844 shares (-3.4%) vs Sep 30, 2026
26.2% of the stored float. Published Oct 26, 2026.
Settlement Sep 30, 2026
12,170,121 shares short
+1,633,228 shares (+15.5%) vs Sep 15, 2026
27.2% of the stored float. Published Oct 9, 2026.
Settlement Sep 15, 2026
10,536,893 shares short
+642,580 shares (+6.5%) vs Aug 31, 2026
36.8% of the stored float. Published Sep 24, 2026.
Settlement Aug 31, 2026
9,894,313 shares short
+1,239,736 shares (+14.3%) vs Aug 14, 2026
34.5% of the stored float. Published Sep 10, 2026.
Settlement Aug 14, 2026
8,654,577 shares short
-202,734 shares (-2.3%) vs Jul 31, 2026
Share of float unavailable. Published Aug 25, 2026.
Settlement Jul 31, 2026
8,857,311 shares short
+1,594,311 shares (+22%) vs Jul 15, 2026
Share of float unavailable. Published Aug 11, 2026.
Change = this settlement’s shares short − the previous recorded settlement’s shares short; percentage change divides by that earlier count. A zero earlier count has no percentage change. Split-spanning counts are left uncompared. Float percentages use the stored settlement observation, not today’s float.
Source: stored FINRA equity short-interest records, up to six settlements from the last 240 days. FINRA data and reporting dates · How to read short interest
Dividends and stock splits
See the recorded cash amounts and dates behind MRLN’s income, and the splits that change its share count. Dates below are stored event records, not confirmation of a payment to your account.
Cash-dividend records
The newest stored ex-date is Nov 5, 2021. These are historical records; a current dividend schedule is unavailable.
USD 0.14 per share
Ex-dividend date: Nov 5, 2021
Recorded pay date: Nov 18, 2021 (past date)
Cash dividend · Polygon event record
USD 0.14 per share
Ex-dividend date: Aug 6, 2021
Recorded pay date: Aug 19, 2021 (past date)
Cash dividend · Polygon event record
USD 0.14 per share
Ex-dividend date: May 7, 2021
Recorded pay date: May 20, 2021 (past date)
Cash dividend · Polygon event record
USD 0.14 per share
Ex-dividend date: Feb 5, 2021
Recorded pay date: Feb 18, 2021 (past date)
Cash dividend · Polygon event record
USD 0.14 per share
Ex-dividend date: Nov 6, 2020
Recorded pay date: Nov 19, 2020 (past date)
Cash dividend · Polygon event record
USD 0.14 per share
Ex-dividend date: Aug 7, 2020
Recorded pay date: Aug 20, 2020 (past date)
Cash dividend · Polygon event record
Up to six Polygon cash-dividend events, including recorded ex-dates within the next 120 days. Amounts retain their recorded currency and decimal precision. Historical amounts are not restated to a common split basis, annualized, or converted to dollars.
For a long holding, compare the ex-date with when you held the shares and check the pay date against your broker’s cash history. Owning the stock today does not establish past entitlement. For a short holding, a dividend can create a payment obligation to the share lender.
Ex-dates and special dividend rules · Short-sale dividend obligations · Dividend data definitions
Split history
No qualified split events are stored. This does not establish that the stock has never split.
Up to six stored split dates through Nov 7, 2026. Equivalent vendor ratios are combined; conflicting ratios are left out. This history may be incomplete.
A split changes the share count and per-share price basis; it does not by itself add investment value. Put your holding’s earlier and later share counts on the same basis before comparing them. This applies to both long shares and shares owed on a short position.
How stock splits workPortfolio context
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Smart money context
Holder IQ: MEDIUM
16 smart-money holders: institutions with a high Holder IQ
Q2 2026, filed Sep 22, 2026
Smart-money 13F trend: accumulating (light)
Unlock crowding heatmapUnlock filer discoveryInsider context
Sentiment: unknown
No recent insider trades detected.
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What it means for you
Sign in to read your holdings or watchlist context. No personal position or direction is inferred.
What happened
No directional recent-activity label is available. This context label is separate from the scored insider signal read.
Why it can matter
A count of reported activity describes a sample, not purchase conviction, an insider’s intent or a future price move. Neutral is not an all-clear, and absent direction is not neutral evidence.
How we got this
The current context rule reads at most 50 nonduplicate issuer/share-class records filed in the last 90 days. It counts a bullish direction or purchase code P toward bullish, and a bearish direction or sale code S toward bearish. A side must exceed the opposite count by more than two to set its label; otherwise nonzero directional counts produce neutral. Calculation unavailable for this saved label: its counts, exact records, as-of time and rule version are not supplied here. Do not substitute the separate scored read’s different window or denominator.
Where the data comes from
Stored SEC Forms 3/4/5 insider-signal records, ordered by filing date with amendment duplicates excluded. Filing date is not transaction date. The last-trade line locates recent reported activity; it does not date or reconstruct the complete count.
Red flags: 0
Read the insider context evidence
What it means for you
Sign in to read your holdings or watchlist context. No personal position or direction is inferred.
What happened
No directional recent-activity label is available. This context label is separate from the scored insider signal read.
Why it can matter
A count of reported activity describes a sample, not purchase conviction, an insider’s intent or a future price move. Neutral is not an all-clear, and absent direction is not neutral evidence.
How we got this
The current context rule reads at most 50 nonduplicate issuer/share-class records filed in the last 90 days. It counts a bullish direction or purchase code P toward bullish, and a bearish direction or sale code S toward bearish. A side must exceed the opposite count by more than two to set its label; otherwise nonzero directional counts produce neutral. Calculation unavailable for this saved label: its counts, exact records, as-of time and rule version are not supplied here. Do not substitute the separate scored read’s different window or denominator.
Where the data comes from
Stored SEC Forms 3/4/5 insider-signal records, ordered by filing date with amendment duplicates excluded. Filing date is not transaction date. The last-trade line locates recent reported activity; it does not date or reconstruct the complete count.
Largest 13-F holders · Q2 2026
62 filers reported a long position in MRLN for Q2 2026. 13-F holdings are filed up to 45 days after the quarter ends.
The top 10 hold
85%
of the 15.6M shares 13-F filers reported
Moves vs Q1 2026
4 added0 trimmed
5 new · 1 unchanged
Net shares held
+73.1%
across the 5 holders with a comparable Q1 2026 book
| Rank | Holder | Value | Shares | Shares vs Q1 2026 |
|---|---|---|---|---|
| 1 | Alyeska Investment Group, L.P. | $42.1M · 7.4M shares | 7.4M | New |
| 2 | BAILLIE GIFFORD & CO | $11.5M · 2M shares | 2M | Unchanged |
| 3 | UBS Group AG | $5.9M · 1M shares | 1M | +279% |
| 4 | BlackRock, Inc. | $4.1M · 711.9K shares | 711.9K | New |
| 5 | XTX Topco Ltd | $2.5M · 431.9K shares | 431.9K | +1,353.8% |
| 6 | GEODE CAPITAL MANAGEMENT, LLC | $2.4M · 426.8K shares | 426.8K | +753.5% |
| 7 | VANGUARD CAPITAL MANAGEMENT LLC | $2.2M · 391.8K shares | 391.8K | New |
| 8 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2M · 358.6K shares | 358.6K | New |
| 9 | JANE STREET GROUP, LLC | $1.6M · 280.8K shares | 280.8K | +435.4% |
| 10 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1.3M · 224.4K shares | 224.4K | New |
Sign in to see each holder’s Holder IQ, factor-adjusted Holder IQ and rank, and compare these holders with all scored filers. Available on every plan.
Sign in5% holder filings (13D / 13G)
Holders of more than 5% of MRLN file with the SEC within days. A 13D holder may seek to influence the company; a 13G holder is passive. Each holder’s latest filing from the last three years.
| Filed | Holder | % of class |
|---|---|---|
| Oct 13, 2026 | Inflection Point Fund I, LP13G · passive | 9.9% |
| Sep 18, 2026 | FR Capital Holdings LP13G · passive · amended | 1%under 5% |
| Aug 14, 2026 | Bleichroeder Sponsor 1 LLC13G · passive · amended | 8.2% |
| Aug 13, 2026 | Ayrton Capital LLC13G · passive · amended | 2.12%under 5% |
| Aug 12, 2026 | CIK 186017113G · passive · amended | 9.6% |
| May 15, 2026 | Alyeska Investment Group, L.P.13G · passive | 9.9% |
| May 15, 2026 | MERUS GLOBAL INVESTMENTS, LLC13G · passive · amended | 0%under 5% |
| May 15, 2026 | HIGHBRIDGE CAPITAL MANAGEMENT LLC13G · passive · amended | 0%under 5% |
| May 8, 2026 | Quiet Capital Management, LLC13G · passive | 16.24% |
| Mar 23, 2026 | George Matthew Spencer13D · activist | 17.7% |
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