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Merlin, Inc. (MRLN)
USD3.88
-0.30 (-7.07%)
US NASDAQ Technology Software - Application
Address
129 South Street 2111
Boston, MA, US
Boston, MA, US
CEO
Timothy Burns
Website
merlinlabs.com
IPO
2026-03-17
CIK 2028707 ISIN US5901061003
Description
Operating within the aerospace and defense sector, Merlin, Inc. dedicates its efforts to engineering advanced autonomous flight technologies. The company is constructing a definitive operating system for self-flying aircraft, known as the Merlin Pilot system, which facilitates operations across numerous aircraft types and mission objectives. This innovative technology has been rigorously proven, having successfully completed hundreds of autonomous flights at test sites around the globe. Merlin, Inc. maintains its primary offices in Boston, Massachusetts.
Market Cap & Enterprise Value
Merger & Acquisition History
No mergers or acquisitions recorded for this company.
Technical Outlook
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Signal Summary
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| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
USD3.88
-0.30 (-7.07%)
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Volume Profile
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Liquidity & share structure
Average Volume
3M
Beta
1.46
Float Shares
3.60M
Free Float %
14.2%
Price Performance
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.42% | +4.57% | -40.97% | -32.35% | -32.35% | -32.35% | -32.35% | -32.35% | -32.35% | -32.35% | -32.35% |
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From
To
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow
Revenue by geography
Revenue by segment
From
To
Revenue composition
From
To
By product
By geography
Financial Statements
Select metrics from the tables below to build your comparison.
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
Analyst Consensus (1 ratings, all time)
Buy
Price Targets & DCF
Current price
3.88
Low
25.00
+545.2%
Consensus
25.00
+545.2%
Median
25.00
+545.2%
High
25.00
+545.2%
DCF (Levered)
0.02
-99.5%
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
Ratings Trend (MoM)
100% Bullish
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 0 | 0 |
| Buy | 1 | 0 |
| Hold | 0 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
Price Target Summary
| Period | # Analysts | Avg Target |
|---|---|---|
| Last Month | — | — |
| Last Quarter | 2 |
20.00
+416.1%
|
| Last Year | 2 |
20.00
+416.1%
|
| All Time | 2 |
20.00
+416.1%
|
Quality scores
MOAT Score
2 / 10
No MOAT
Composite Rating
C
Overall Score
2 / 5
Medium
DCF Score
2 / 5
Medium
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
-
Revenue growth Software - Application: +13.0%-100.0% Q1'26: +16.2% (vs Q4'24)
-
EPS growth Software - Application: +28.6%+111.0% ★ Q1'26: -217.5% (vs Q4'24)
-
FCF margin FCF growth · Software - Application: +45.3%— Q1'26: -2,575.1% (vs Q4'24)
-
EBIT margin Software - Application: +9.4%— Q1'26: -9,018.2% (vs Q4'24)
-
ROIC Software - Application: +7.5%-1.8% Q1'26: +139.1% (vs Q4'24)
-
Share dilution Software - Application: +0.0%+0.0% Q1'26: +114.5% (vs Q4'24)
-
Debt / EBITDA Net debt/EBITDA · Software - Application: -1.16×0.00× Q1'26: -0.01× (vs Q4'24)
Valuation Multiples
From
To
Consensus Estimates
| Metric |
Dec 2026 1 Rev. Ana. 1 EPS Ana. |
Dec 2027 1 Rev. Ana. 1 EPS Ana. |
|---|---|---|
| Revenue |
14.50M
14.50M – 14.50M
|
40.00M
40.00M – 40.00M
+175.9% YoY
|
| EBITDA |
-4.83M
-4.83M – -4.83M
|
-13.33M
-13.33M – -13.33M
-175.9% YoY
|
| EBIT |
-4.83M
-4.83M – -4.83M
|
-13.33M
-13.33M – -13.33M
-175.9% YoY
|
| Net Income |
-24.31M
-24.31M – -24.31M
|
-24.64M
-24.64M – -24.64M
-1.4% YoY
|
| SGA |
149.58M
149.58M – 149.58M
|
412.63M
412.63M – 412.63M
+175.9% YoY
|
| EPS |
-0.72
-0.72 – -0.72
|
-0.73
-0.73 – -0.73
-1.4% YoY
|
Recent Grade Changes (3M)
| Date | Firm | Previous | New Grade | Action |
|---|---|---|---|---|
| 2026-04-16 | Roth Capital | Buy | Buy | Maintain |
Historical Ratings (3M)
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-05-19 | C | 2/5 | 2/5 | 1/5 | 1/5 | 1/5 | 1/5 | 4/5 |
Owner Earnings
Owner's Earnings (history)
From
To
Owner alignment
Owner's Earnings TTM
-24.58M
OE per share TTM
-0.34
Owner's Yield
-12.17%
Maintenance CapEx ratio
—
Maint CapEx / Avg PPE
877.0%
Ownership Overview
Ownership breakdown
Ownership breakdown not available.
At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
9
Beneficial owners (>5%)
| # | Reporting person | Amount owned | % of class | Sole voting | Shared voting | Sole dispositive | Shared dispositive | Type | Citizenship | Filing date | SEC filing |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ENTRUST GLOBAL PARTNERS L L C 13-4021839 | 956.9K | 7.96% | — | 956.9K | — | 956.9K | IA | Delaware | 2021-08-19 | ↗ |
| 2 | EnTrust Global Partners Offshore LP 90-0644478 | 956.9K | 7.96% | — | 956.9K | — | 956.9K | IA | Delaware | 2021-08-19 | ↗ |
| 3 | Gregg S. Hymowitz 000000000 | 956.9K | 7.96% | — | 956.9K | — | 956.9K | IN | Delaware | 2021-08-19 | ↗ |
| 4 | Century Capital Management LLC | 891.2K | 7.10% | 819.2K | — | 819.2K | — | IA | Delaware | 2005-02-14 | ↗ |
| 5 | 26-2921385 | 801.9K | 6.70% | 801.9K | — | 801.9K | — | IA | California | 2021-08-03 | ↗ |
| 6 | Eric D. Andersen | 801.9K | 6.70% | 801.9K | — | 801.9K | — | HC, IN | California | 2021-08-03 | ↗ |
| 7 | Broad Run Investment Management, LLC (46-1010523) | 690.9K | 5.39% | 690.9K | — | 690.9K | — | IA | DelawareUSA | 2015-02-11 | ↗ |
| 8 | 06-1524885 | 656.4K | 5.50% | 648.3K | — | 656.4K | — | IA, CO | CONNECTICUT | 2007-02-14 | ↗ |
| 9 | (1) BlackRock, Inc. | 654.6K | 5.30% | 639.8K | — | 654.6K | — | HC | Delaware | 2019-02-08 | ↗ |
Institutional Activity (13F)
Institutional ownership trend
Institutional history not available.
Top institutional holders
Top holders not available.
ETF Ownership
Top ETFs holding this stock
Held by 4 ETFs in our universe
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | AltShares Merger Arbitrage ETF ARB | 0.31% | 281.9K | 0.76% |
| 2 | Schwab U.S. Small-Cap ETF SCHA | 0.00% | 690.1K | 0.03% |
| 3 | iShares Morningstar Small-Cap ETF ISCB | 0.00% | 5.3K | 0.04% |
| 4 | Schwab U.S. Broad Market ETF SCHB | 0.00% | 135.3K | 0.03% |
Insider Activity
Insider Activity — Latest Quarter
Ratio by transactions
0.00
Bearish
Buys
12
Sells
0
Shares acquired
2.45M
Shares disposed
—
Cash buys
—
Cash sales
—
Net activity
+2,450,031
Insider buys vs sells (history)
From
To
Recent insider transactions
From
To
| Date | Person | Role | Transaction | A/D | Security | Shares | Price | Value | Owned after | D/I | Filing |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-04-07 | Brunner Mark Rawlins | Officer | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | Trabuco Carolyn | Director | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | Smith Robert Hanson | Director | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | Ravestein Leslie Renee | Officer | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | Quiet Capital Management, LLC | 10% Owner | — | — | 12.0% Series A Cumulative Convertible Preferred Stock | 464,534 | 6.67 | 3.10M | 0 | I | ↗ |
| 2026-03-16 | Montelongo Michael | Director | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | George Matthew Spencer | Director / Officer | A-Award | A | Common Stock | 14,890,622 | 0.00 | — | 14,890,622 | D | ↗ |
| 2026-03-16 | FR Capital Holdings, L.P. | 10% Owner | — | — | Common Stock, par value $0.0001 per share | 0 | 0.00 | — | 6,651,292 | I | ↗ |
| 2026-03-16 | Carrithers Ryan Michael | Officer | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | Braithwaite Kenneth John | Director | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | BRANNON KELYN | Director | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
| 2026-03-16 | BLITZER MICHAEL | Director | — | — | — | 0 | 0.00 | — | 0 | — | ↗ |
Executive team
Top executives
Shares Outstanding
25.43M
Executive compensation
Executive compensation (annual)
Executive compensation not available.
CEO compensation breakdown
No CEO compensation history available.
Proxy statements
Recent SEC filings
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| Matthew George | Founder, President, CEO & Chairman of the Board | 390.9K | male |
| Ryan Carrithers | CFO & Treasurer | 219.4K | male |
| Krishnan Anand | Chief Program Officer | — | — |
| Leslie Ravestein | Chief Legal Officer & Secretary | — | female |
| Mark Brunner | Chief Revenue Officer | — | male |
| Michael Baker | Chief Marketing Officer | — | male |
| Nadja Adilovic | Chief of Staff | — | — |
| Pablo González | Senior Vice President of Engineering | — | male |
| David Lasater | Chief People Officer | — | male |
| Timothy Burns | Chief Technology Officer | — | male |
| Grant Crenfeldt | CEO of Merlin New Zealand | — | male |
ESG Rating
ESG Score History FINANCIAL - CREDIT SERVICES
Benchmark vs Sector
Senate Trading Activity
No Senate trading activity found for this company.
House Trading Activity
No House trading activity found for this company.
Market share among peers
Peer comparison — filtered group (TTM)
Your opinion
Share your view on this stock and instantly see how the community has voted over the last 6 months.
Community Opinion for MRLN
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
