Merlin, Inc. (MRLN)

NASDAQ: MRLN · Real-Time Price · USD

1.130

+0.166 (17.17%)

At close: Nov 13, 2026, 4:00 PM EST

1.100

-0.030 (-2.65%)

After-hours: Nov 13, 2026, 7:59 PM EST

Merlin Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	161.44	59.34	37.2	50.49
Short-Term Investments	0.18	0.33	0.38	0.55
Cash & Short-Term Investments	161.63	59.67	37.57	51.03
Cash Growth	140.92%	58.82%	-26.38%	-
Receivables	1.2	0.37	0.54	0.02
Prepaid Expenses	4.24	3.33	1.04	1.6
Other Current Assets	-	7.56	-	-
Total Current Assets	167.07	70.93	39.15	52.65
Property, Plant & Equipment	16.67	8.09	9.94	9.63
Other Long-Term Assets	2.71	1.56	0.11	0.13
Total Assets	186.44	80.58	49.19	62.42

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Accounts Payable	5.69	3.15	1.29	1.4
Accrued Expenses	7.45	7.94	2.68	1.84
Short-Term Debt	-	29.11	-	-
Current Portion of Long-Term Debt	-	19.27	14.22	1
Current Portion of Leases	1.24	0.66	0.71	0.53
Current Unearned Revenue	-	-	0.11	-
Other Current Liabilities	0.07	4.17	5.17	-
Total Current Liabilities	14.44	64.3	24.19	4.77
Long-Term Debt	-	12.78	21.67	1.28
Long-Term Leases	1.2	0.33	0.65	1
Other Long-Term Liabilities	26.52	76.77	3.59	2.83
Total Liabilities	42.16	154.18	50.1	9.87

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Common Stock	0.01	0	0	0
Additional Paid-In Capital	599.76	15.49	4.01	2.2
Retained Earnings	-626.06	-551.05	-135.53	-80.28
Total Common Equity	-26.29	-535.56	-131.52	-78.07
Shareholders' Equity	144.29	-73.6	-0.91	52.54
Total Liabilities & Equity	186.44	80.58	49.19	62.42

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Total Debt	2.43	62.15	37.26	3.81
Net Cash (Debt)	159.19	-2.48	0.31	47.22
Net Cash Growth	1250.70%	-	-99.34%	-
Net Cash Per Share	8.42	-0.48	0.06	10.55
Filing Date Shares Outstanding	102.42	5.31	5.17	4.48
Total Common Shares Outstanding	101.69	5.31	5.17	4.48
Working Capital	152.62	6.63	14.96	47.89
Book Value Per Share	-0.26	-100.93	-25.44	-17.44
Tangible Book Value	-26.29	-535.56	-131.52	-78.07
Tangible Book Value Per Share	-0.26	-100.93	-25.44	-17.44
Machinery	-	11.86	11.79	9.91
Leasehold Improvements	-	0.43	0.39	0.37