Merlin, Inc.

Merlin, Inc. develops autonomous flight technology for defense and commercial applications.

Ticker

MRLN

Company

Merlin, Inc.

Exchange

Nasdaq

Listing

listed

Sector

Defense

Merlin's autonomous flight technology will achieve rapid regulatory approval and scale to major defense contracts, driving substantial revenue growth.

• MRLN trades on Nasdaq and files with the U.S. SEC.S1
• As of March 31, 2026, cash and cash equivalents were $ 122,777.S2
• As of March 31, 2026, total assets were $ 145,376.S2
• As of March 31, 2026, property and equipment, net were 10,285.S2
• All statements other than statements of historical facts contained in this Quarterly Report are forward-looking statements, including without limitation statements regarding our business strategy, expected growth, future operations and financial performance, anticipated timing of commercialization of our autonomous flight technology.S2
• Emerging growth company ☒S3
• Common stock, par value $0.0001 per share MRLN The Nasdaq Stock Market LLC (Nasdaq Global Market)S3
• The Company intends to use the net proceeds from the Private Placement to support revenue generation and long-term value creation, including to advance and expand Merlin’s core platform development, fund regulatory approval activities, scale program capacity, and support the execution and expansion of existing and new customer contracts.S4

• narrativeMerlin will soon commercialize its autonomous flight technology ahead of competitors.
• narrativeThe recent private placement will fuel rapid expansion into major defense programs.
• narrativeMaterial weaknesses will be remediated quickly, unlocking significant investor value.
• narrativeRegulatory approvals for autonomous systems will arrive in the near term and drive outsized returns.

• ▸our ability to remediate our material weaknessesS2
• ▸our ability to obtain and maintain regulatory approvalsS2
• ▸our ability to secure additional capitalS2
• ▸anticipated timing of commercialization of our autonomous flight technologyS2
• ▸the occurrence of any event, change or other circumstances that could give rise to an amendment or termination of the Purchase AgreementS4
• ▸This explainer is built only from the specific SEC filings cited above and is not a complete financial picture — read the full filings before making any decision.

10-Q

— Quarterly report filed with the SEC containing unaudited financial statements and updates.

8-K

— Form used to report major events or changes that shareholders should know about promptly.

Emerging growth company

— A smaller public company allowed to use scaled-back disclosure rules and delayed accounting standards.

Forward-looking statements

— Projections about future results that are not guaranteed and are protected by safe harbor rules.

Private placement

— Sale of shares and warrants directly to investors rather than through a public offering.