Microcap Ledger Merlin, Inc. $MRLN
Facts as of . Built from SEC filings and our own data. Small caps move fast; check the latest filings.
Snapshot
- Exchange
- Nasdaq Global Market
- Sector
- Services-Computer Integrated Systems Design
- Headquarters
- New York, NY
- Fiscal year end
- December 31
- Shares outstanding
- 101,067,784 [10-Q 2026-08-14]
What the company doesAI summary of filing
Merlin, Inc. is a Delaware corporation formed through a business combination between Inflection Point Acquisition Corp. IV (a blank-check company) and Merlin Labs, Inc. Merlin develops aircraft-agnostic autonomy systems for national security applications and is pursuing dual-track civil certification with the goal of being the first to certify an AI skill on an aircraft. The company is revenue-generating and has received approximately $87.3 million in pre-funded convertible note investments and $120 million in Series A preferred stock investments from accredited investors as of the filing date. Merlin is expected to commence operations as a public company following the business combination closing scheduled for March 16, 2026. [10-K 2026-03-12]
Financial health
| Period | Revenue | Net income | Operating cash flow | Cash | Filing |
|---|---|---|---|---|---|
| 6 months to Jun 2026 | $3.19M | −$148.85M | −$50.90M | $183.55M | [10-Q 2026-08-14] |
| FY ended Dec 2025 | — | $6.01M | −$1.33M | $59.34M | [S-1 2026-05-06] |
- Quarterly cash burn
- −$25.45M
- Cash runway Estimate
- ~21.6 months
Capital structure and dilution
| Date | Shares outstanding | Filing |
|---|---|---|
| 2026-05-13 | 96,524,052 | [10-Q 2026-05-15] |
| 2026-08-11 | 101,067,784 | [10-Q 2026-08-14] |
- Shelf registration
- S-1 filed 2026-05-06; declared effective 2026-05-13 [S-1 2026-05-06]
Listing status
Current status: No Form 8-K Item 3.01 (listing notice) filings in the last 24 months, as of 2026-10-11.
Who owns it
| Date | Insider | Type | Shares | Price | Filing |
|---|---|---|---|---|---|
| 2026-09-16 | Fr Capital Holdings, L.P. | other | 6,651,292 | — | [4 2026-09-18] |
| 2026-09-16 | Fr Capital Holdings, L.P. | other | 5,097,669 | — | [4 2026-09-18] |
| 2026-09-16 | Blitzer Michael | other | 262,500 | — | [4 2026-09-18] |
| 2026-09-16 | Ravestein Leslie Renee | other | 1,101 | $2.21 | [4 2026-09-18] |
| 2026-09-16 | Carrithers Ryan Michael | other | 1,073 | $2.21 | [4 2026-09-18] |
| 2026-09-16 | George Matthew Spencer | other | 1,468 | $2.21 | [4 2026-09-18] |
| 2026-05-20 | Carrithers Ryan Michael | grant | 256,416 | — | [4 2026-05-22] |
| 2026-05-20 | Braithwaite Kenneth John | grant | 37,500 | — | [4 2026-05-22] |
| 2026-05-20 | Smith Robert Hanson | grant | 37,500 | — | [4 2026-05-22] |
Catalysts and calendar
| Date | Type | Title |
|---|---|---|
| 2026-09-18 | 13G/A | Beneficial ownership report (5%+ holder) |
| 2026-08-20 | 424B3 | Prospectus or prospectus supplement |
| 2026-08-20 | 424B3 | Prospectus or prospectus supplement |
| 2026-08-14 | 13G/A | Beneficial ownership report (5%+ holder) |
| 2026-08-14 | 13G/A | Beneficial ownership report (5%+ holder) |
| 2026-08-14 | 10-Q | Quarterly report |
| 2026-08-13 | 8-K | Results of operations |
| 2026-08-13 | 13G/A | Beneficial ownership report (5%+ holder) |
| 2026-08-12 | 13G/A | Beneficial ownership report (5%+ holder) |
| 2026-06-02 | 424B3 | Prospectus or prospectus supplement |
| 2026-06-02 | 424B3 | Prospectus or prospectus supplement |
| 2026-05-15 | 13G/A | Beneficial ownership report (5%+ holder) |
Alerts for $MRLN
Email me when Merlin, Inc. files an offering, gets a deficiency notice, or moves sharply.
Facts as of . Small caps move fast; check the latest filings.