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 Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue reached ~$3.5 million, up 58% sequentially, while adjusted EBITDA loss narrowed. Funded USSOCOM and AFRICOM awards advanced autonomy programs, and 2027 cost plans target runway into 2029 without capital raises.
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Q2 2026 saw strong cash reserves, no debt, and key milestones in defense and civil aviation, including CDR completion for the C-130J and SOI 3 certification. Revenue rose to $2.2M, with a net loss of $58.4M, and guidance anticipates $4–6M in H2 2026 revenue.
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First quarter as a public company saw revenue growth, major technical milestones, and a strong cash position after new financing. Product launch of Condor targets both civil and defense markets, with certification and commercial partnerships as key focus areas.