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MRLN · Merlin, Inc.

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$3.76 -0.67 (-15.05%) At close · Aug 14
Going-concern doubt — flagged Aug 14, 2026

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
Customer concentration — key customers 90% of revenue

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).”
View the 10-Q filed May 15, 2026
Market Cap
$379.51M
Shares
101.07M

Price & Indicators

Indicators
Price
Panels
Event markers
20d MA 50d MA 200d MA Earnings Filing Insider Congress Investor day
Close$3.76 Open$4.15 Day$3.61–4.15 52W close$3.31–16.09 Avg vol 30d1.4M Short int8.9M · 8.8% float · 6.1d Short vol54% Last earningsAug 13, 2026 DataDec 2024–Aug 2026 Filing10-Q · Aug 14

Up next

FQ3-26 quarter ends
~Sep 30, 2026 Est
Latest filing: 10-Q
filed Aug 14, 2026

Equibles Rating

blended score · not investment advice
Overall
Sell
SellHoldBuy
Technical Sell Momentum Weak Sentiment Neutral Fundamentals Limited Quant / Vol Very High
Market backdrop VIX 14.3 · calm Equity put/call 0.52
Technical
price trend
Sell
50 / 200-day cross No cross
Price vs 200-day avg −57%
below
Price vs 50-day avg −24%
below
RSI (14) 41
neutral
MACD trend Positive
52-week position 3%
near low
Momentum
relative strength
Weak
1-month return +5%
trailing
6-month return −64%
trailing
YTD return −65%
this year
Relative strength −78%
vs S&P · 6-mo
Sentiment
smart money
Neutral
Trend (MA cross) No cross
50d $5 › 200d $9 — 200d above 50d
Institutional flow Accumulating
+114% holders QoQ · +44 funds added
Insider flow Flat
No net insider activity over 90 days
Short interest Rising
8.76% of float · ▲ +22.0% MoM · 6.1 days cover
Volume signal Reversal watch
High volume on a down day — possible exhaustion
Institution breadth Steady
62 holders — 13F breadth
Squeeze score 78
high risk · 0–100
Fundamentals
Limited
Not enough data for a confident read.
Quant / Vol
risk profile
Very High
Volatility 108%
annualized · 1-yr
Max drawdown −79%
past year
ATR 12.4%
of price · 14-day

Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.

Technicals

trend & momentum for long-term holders Sell
3 · 2 · 1
50 / 200-day cross
No cross Neutral
Price vs 200-day avg
−57% Bearish
Price vs 50-day avg
−24% Bearish
RSI (14)
41 Neutral
MACD trend
Positive Bullish
52-week position
3% Bearish
Market signals — smart money & positioning
Mixed
Trend (MA cross) No cross
50d $5 › 200d $9 — 200d above 50d
Institutional flow Accumulating
+114% holders QoQ · +44 funds added
Insider flow Flat
No net insider activity over 90 days
Short interest Rising
8.76% of float · ▲ +22.0% MoM · 6.1 days cover
Volume signal Reversal watch
High volume on a down day — possible exhaustion
Institution breadth Steady
62 holders — 13F breadth
Price context
position in its 52-week range
Range low $3 Now $4 · 3% Range high $16
vs 200-day avg -57% vs 50-day avg -24%

Illustrative 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
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
Open screener →
Company Mkt cap YTD Rev growth Y/Y P/E Short % shares
MRLN
Merlin, Inc.
this stock
$379.51M -65.0% — — 8.8%
SPCX
Space Exploration Technologies Corp
 $1.85T — — — 1.6%
GE
General Electric Co
 $382.22B +19.6% +18.5% 43.4 1.4%
RTX
RTX Corp
 $300.51B +21.6% +17.1% 39.3 1.3%
EADSF
Airbus SE/ADR
 $194.35B +7.1% — — 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 section
Ownership
Institutional Holders Accumulating
Holders
62
% held
19.1%
Net QoQ
+15.5M sh
Top holder
FR Capital Holdings, L.P.
Held Float
View
Held by Funds
Fund positions
2
View
Short & Settlement
Short Interest Rising
Shares short
8.9M
Days to cover
6.1d
Change
+1.6M sh
View
Short Volume
Short vol %
54%
As of
Aug 14, 2026
Short Total
View
Fails to Deliver
FTD shares
21.2K
Value
$91.1K
As of
Jul 14, 2026
View
Off-Exchange
Off-exchange %
48.9%
Week of
Jul 6, 2026
Off-exch Lit
View
Financials
Financials
Net income (FY)
$6.0M
View
Filings
SEC Filings
Latest
10-Q
Filed
Aug 14, 2026
This year
9
View
Earnings & Events
Earnings Calls
Last call
Aug 13, 2026
View

Performance

5D 20D 120D MTD YTD
MRLN -15.4% +4.6% -64.3% -0.4% -65.0%
SPY +0.4% +4.5% +13.8% +3.9% +13.9%
vs SPY -15.8% +0.2% -78.0% -4.3% -78.8%
Key facts CIK 2028707 CUSIP 590106100 13F (30d) 65 filings 65 filers Visit website Investor relations

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