MRLN · Merlin, Inc.
Substantial doubt about the company's ability to continue as a going concern.
“These measures may significantly alter our future business plans and could cause significant delays in the development of our products and ultimately our financial condition and ability to operate as a going concern in future periods.”View the 10-Q filed Aug 14, 2026
Key customers — 90% of revenue (the three months ended March 31, 2026)
“During the three months ended March 31, 2026 and 2025, the Company generated $1,002 and $868 in revenue, with a significant amount (> 90%) of this revenue coming from the U.S. government (refer to Note 4. Revenue Recognition from Contracts with Customers for further information).”
Price & Indicators
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TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | -$27.8M | Second Quarter 2026 | — |
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| Cash, cash equivalents, and short-term investments | $183M | May 1, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Aerospace & Defense — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MRLN
this stock
Merlin, Inc.
|
$357.27M | -69.1% | — | — | 8.8% |
|
SPCX
Space Exploration Technologies Corp
|
$1.88T | — | — | — | 1.6% |
|
GE
General Electric Co
|
$369.61B | +15.6% | +18.5% | 42.0 | 1.4% |
|
RTX
RTX Corp
|
$302.11B | +20.1% | +17.1% | 39.5 | 1.3% |
|
EADSF
Airbus SE/ADR
|
$195.50B | +5.8% | — | — | 0.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MRLN | -20.3% | -0.6% | -68.5% | -12.1% | -69.1% |
| SPY | -0.4% | +2.9% | +11.6% | +3.0% | +12.8% |
| vs SPY | -19.9% | -3.5% | -80.0% | -15.0% | -81.9% |