Merlin, Inc.
MRLNNasdaqCIK 2028707TechnologyFiscal year ends Dec 31
Latest reported revenue, Q2 FY2026$2.2mRevenue, Q2 FY2026, three months to 2026-06-30$2.2m. XBRL concept
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figureThree months to Jun 30, 2026, from the 10-Q filed Aug 14, 2026.Latest quarter: Q2 FY2026
Three months to Jun 30, 2026, against the same quarter a year earlier.
- Revenue$2.2mRevenue, Q2 FY2026, three months to 2026-06-30$2.2m. XBRL concept
us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure−29.4% on a year earlier - Gross margin−5.4%Gross margin, Q2 FY2026, three months to 2026-06-30. gross profit / revenueGross profit: −$119.0k. XBRL concept
us-gaap:GrossProfit. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $2.2m. XBRL conceptus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure−6.7 pts on a year earlier - Operating margin−1528.6%Operating margin, Q2 FY2026, three months to 2026-06-30. operating income / revenueOperating income: −$33.5m. XBRL concept
us-gaap:OperatingIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $2.2m. XBRL conceptus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure−1174.3 pts on a year earlier - Net margin−2663.0%Net margin, Q2 FY2026, three months to 2026-06-30. net income / revenueNet income: −$58.4m. XBRL concept
us-gaap:NetIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $2.2m. XBRL conceptus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure−2138.5 pts on a year earlier - Diluted EPS−$1.40Diluted EPS, Q2 FY2026, three months to 2026-06-30−$1.40 per share. XBRL concept
us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure−508.7% on a year earlier - Free cash flow−$28.9mFree cash flow, Q2 FY2026, three months to 2026-06-30. operating cash flow − capital expenditureOperating cash flow: −$27.3m. XBRL concept
us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-14, accession 0001628280-26-056882. Derived: 6-month figure less the 3-month figure.Capital expenditure: $1.7m. XBRL conceptus-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-08-14, accession 0001628280-26-056882. Derived: 6-month figure less the 3-month figure.Report this figure−137.8% on a year earlier
Last eight quarters
Full statements| Line item | Unit | Q3 FY20252024-09-30 | Q2 FY20252024-12-31 | Q1 FY20252025-03-31 | Q2 FY20252025-06-30 | Q3 FY20252025-09-30 | Q4 FY20252025-12-31 | Q1 FY20262026-03-31 | Q2 FY20262026-06-30 | Shape over the periods |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $m | not reported (Revenue not reported) | not reported (Revenue not reported) | 0.9Revenue, Q1 FY2025, three months to 2025-03-31$868.0k. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | 3.1Revenue, Q2 FY2025, three months to 2025-06-30$3.1m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | not reported (Revenue not reported) | not reported (Revenue not reported) | 1.0Revenue, Q1 FY2026, three months to 2026-03-31$1.0m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | 2.2Revenue, Q2 FY2026, three months to 2026-06-30$2.2m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | |
| Gross margin | % | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | 17.7%Gross margin, Q1 FY2025, three months to 2025-03-31. gross profit / revenueGross profit: $154.0k. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Revenue: $868.0k. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | 1.3%Gross margin, Q2 FY2025, three months to 2025-06-30. gross profit / revenueGross profit: $41.0k. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $3.1m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | not reported (Gross profit and Revenue not reported) | not reported (Gross profit and Revenue not reported) | 180.9%Gross margin, Q1 FY2026, three months to 2026-03-31. gross profit / revenueGross profit: $1.8m. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Revenue: $1.0m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (5.4%)Gross margin, Q2 FY2026, three months to 2026-06-30. gross profit / revenueGross profit: −$119.0k. XBRL concept us-gaap:GrossProfit. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $2.2m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | |
| Operating margin | % | not reported (Revenue not reported) | not reported (Revenue not reported) | (1313.8%)Operating margin, Q1 FY2025, three months to 2025-03-31. operating income / revenueOperating income: −$11.4m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Revenue: $868.0k. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (354.3%)Operating margin, Q2 FY2025, three months to 2025-06-30. operating income / revenueOperating income: −$11.0m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $3.1m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | not reported (Revenue not reported) | not reported (Revenue not reported) | (2695.8%)Operating margin, Q1 FY2026, three months to 2026-03-31. operating income / revenueOperating income: −$27.0m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Revenue: $1.0m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (1528.6%)Operating margin, Q2 FY2026, three months to 2026-06-30. operating income / revenueOperating income: −$33.5m. XBRL concept us-gaap:OperatingIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $2.2m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | |
| Net margin | % | not reported (Revenue not reported) | not reported (Revenue not reported) | (1466.9%)Net margin, Q1 FY2025, three months to 2025-03-31. net income / revenueNet income: −$12.7m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $868.0k. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (524.5%)Net margin, Q2 FY2025, three months to 2025-06-30. net income / revenueNet income: −$16.3m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $3.1m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | not reported (Revenue not reported) | not reported (Revenue not reported) | (9023.9%)Net margin, Q1 FY2026, three months to 2026-03-31. net income / revenueNet income: −$90.4m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $1.0m. XBRL concept us-gaap:Revenues. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (2663.0%)Net margin, Q2 FY2026, three months to 2026-06-30. net income / revenueNet income: −$58.4m. XBRL concept us-gaap:NetIncomeLoss. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Revenue: $2.2m. XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | |
| Diluted EPS | $ per share | not reported (Diluted EPS not reported) | not reported (Diluted EPS not reported) | (0.18)Diluted EPS, Q1 FY2025, three months to 2025-03-31−$0.18 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (0.23)Diluted EPS, Q2 FY2025, three months to 2025-06-30−$0.23 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | not reported (Diluted EPS not reported) | not reported (Diluted EPS not reported) | (1.27)Diluted EPS, Q1 FY2026, three months to 2026-03-31−$1.27 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (1.40)Diluted EPS, Q2 FY2026, three months to 2026-06-30−$1.40 per share. XBRL concept us-gaap:EarningsPerShareDiluted. 10-Q filed 2026-08-14, accession 0001628280-26-056882.Report this figure | |
| Free cash flow | $m | not reported (Operating cash flow and Capital expenditure not reported) | not reported (Operating cash flow and Capital expenditure not reported) | (13.2)Free cash flow, Q1 FY2025, three months to 2025-03-31. operating cash flow − capital expenditureOperating cash flow: −$13.1m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Capital expenditure: $94.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (12.2)Free cash flow, Q2 FY2025, three months to 2025-06-30. operating cash flow − capital expenditureOperating cash flow: −$12.1m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-14, accession 0001628280-26-056882. Derived: 6-month figure less the 3-month figure.Capital expenditure: $17.0k. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-08-14, accession 0001628280-26-056882. Derived: 6-month figure less the 3-month figure.Report this figure | not reported (Capital expenditure not reported) | not reported (Capital expenditure not reported) | (25.8)Free cash flow, Q1 FY2026, three months to 2026-03-31. operating cash flow − capital expenditureOperating cash flow: −$23.6m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Capital expenditure: $2.2m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-05-15, accession 0001213900-26-057138.Report this figure | (28.9)Free cash flow, Q2 FY2026, three months to 2026-06-30. operating cash flow − capital expenditureOperating cash flow: −$27.3m. XBRL concept us-gaap:NetCashProvidedByUsedInOperatingActivities. 10-Q filed 2026-08-14, accession 0001628280-26-056882. Derived: 6-month figure less the 3-month figure.Capital expenditure: $1.7m. XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. 10-Q filed 2026-08-14, accession 0001628280-26-056882. Derived: 6-month figure less the 3-month figure.Report this figure |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Last five fiscal years
| Line item | Unit | FY20252025-12-31 | Shape over the periods |
|---|---|---|---|
| Revenue | $ | not reported (Revenue not reported) | |
| Gross margin | % | not reported (Gross profit and Revenue not reported) | |
| Operating margin | % | not reported (Revenue not reported) | |
| Net margin | % | not reported (Revenue not reported) | |
| Diluted EPS | $ per share | not reported (Diluted EPS not reported) | |
| Free cash flow | $ | not reported (Capital expenditure not reported) |
Focus or hover a figure to see its XBRL concept, period and filing; each links to that filing. A figure marked d is derived: a quarter computed from year-to-date figures, such as the fourth quarter as the fiscal year less the nine months before it. A ratio reads not reported when any input is missing.
Insider purchases and sales
All insider transactionsThe last 20 open-market transactions reported on Form 4 (codes P and S). The reported price is the price per share the insider stated on the form: filing data, not a market price.
| Date | Insider | Transaction | Shares | Reported price | Value | Filing |
|---|---|---|---|---|---|---|
| 2025-12-09 | Goldman Sachs Group Inc10% owner | Sale | 3 | $10.95 | $32.85 | Form 4 |
| 2025-12-09 | Goldman Sachs Group Inc10% owner | Purchase | 3 | $10.95 | $32.85 | Form 4 |
| 2025-12-09 | Goldman Sachs Group Inc10% owner | Purchase | 2 | $10.98 | $21.96 | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Sale | 63 | $10.98 | $691.74 | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Sale | 3 | $10.98 | $32.94 | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Sale | 250 | $11.00 | $2.8k | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Sale | 63 | $11.00 | $693 | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Purchase | 63 | $10.98 | $691.74 | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Purchase | 63 | $10.98 | $691.74 | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Purchase | 3 | $10.98 | $32.94 | Form 4 |
| 2025-12-08 | Goldman Sachs Group Inc10% owner | Purchase | 250 | $11.00 | $2.8k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Sale | 500 | $10.71 | $5.4k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Sale | 630 | $10.79 | $6.8k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Sale | 3,300 | $10.82 | $35.7k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Sale | 14 | $11.00 | $154 | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Purchase | 500 | $10.71 | $5.4k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Purchase | 451 | $10.79 | $4.9k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Purchase | 1,500 | $10.80 | $16.2k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Purchase | 1,465 | $10.80 | $15.8k | Form 4 |
| 2025-12-05 | Goldman Sachs Group Inc10% owner | Purchase | 14 | $11.00 | $154 | Form 4 |
Funds that report holding it
All fundsFrom each manager's latest Form 13F, largest reported value first. Reported value is as filed at the quarter end: filing data, not a price. A put or call is an option position, not shares held.
| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
|---|---|---|---|---|---|
| Alyeska Investment Group, L.P. | 2026-06-30 | $42.1m | 7,402,996 | New+7,402,996 | |
| BAILLIE GIFFORD & CO | 2026-06-30 | $11.5m | 2,016,289 | Unchanged | |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 2026-06-30 | $7.2m | 1,270,000 | Call | New+1,270,000 |
| UBS Group AG | 2026-06-30 | $5.9m | 1,034,899 | Added+761,813 | |
| JANE STREET GROUP, LLC | 2026-06-30 | $4.4m | 780,300 | Call | New+780,300 |
| CITADEL ADVISORS LLC | 2026-06-30 | $4.1m | 721,600 | Call | New+721,600 |
| BlackRock, Inc. | 2026-06-30 | $4.1m | 711,898 | New+711,898 | |
| XTX Topco Ltd | 2026-06-30 | $2.5m | 431,905 | Added+402,197 | |
| GEODE CAPITAL MANAGEMENT, LLC | 2026-06-30 | $2.4m | 426,791 | Added+376,786 | |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 2026-06-30 | $2.4m | 419,600 | Put | New+419,600 |
Recent filings
All 161 filingsReports and events: 10-K, 10-Q, 8-K, proxy statements and ownership schedules.
| Filed | Form | What it is | Accession number |
|---|---|---|---|
| 2026-10-2709:21 ET | 8-K | 5.02 Departure or appointment of officers or directors | 0001628280-26-067435 |
| 2026-08-1418:32 ET | 10-Q | Quarterly reportPeriod 2026-06-30 | 0001628280-26-056882 |
| 2026-08-1316:09 ET | 8-K | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001628280-26-056712 |
| 2026-05-1507:30 ET | 10-Q | Quarterly reportPeriod 2026-03-31 | 0001213900-26-057138 |
| 2026-05-1407:37 ET | 8-K | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001213900-26-056230 |
| 2026-05-0608:59 ET | S-1 | Registration statement | 0001213900-26-052553 |
| 2026-04-2909:24 ET | 8-K | 1.01 Entry into a material agreement; 3.02 Unregistered sale of equity; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001213900-26-048884 |
| 2026-04-1516:10 ET | S-1 | Registration statement | 0001213900-26-044057 |
| 2026-03-2316:30 ET | SCHEDULE 13D | Ownership report, active investor | 0001213900-26-032943 |
| 2026-03-2016:01 ET | 8-K | 1.01 Entry into a material agreement; 2.01 Completion of an acquisition or disposition; 3.02 Unregistered sale of equity; 3.03 Change to security holders’ rights; 4.01 Change of auditor; 5.01 Change in control; 5.02 Departure or appointment of officers or directors; 5.03 Amendment to articles or bylaws; 5.06 Item not in the standard list; 8.01 Other events; 9.01 Financial statements and exhibits | 0001213900-26-032329 |
Latest annual report
Form 10-K for the fiscal year ended Dec 31, 2025Filed Mar 12, 2026. Its page lists the documents and the extracted sections, such as Business and Risk factors.
Forecast league
Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by [object Promise].Forecast this quarter
About the filer
- CIK
- 2028707
- Tickers
- MRLN
- Exchange
- Nasdaq
- SIC code
- 7373 Services-Computer Integrated Systems Design
- Sector
- Technology
- Fiscal year ends
- Dec 31
- Incorporated in
- E9
- Filer category
- <br>Emerging growth company
- Former names
- INFLECTION POINT ACQUISITION CORP. IV (to 2026-03-16); Bleichroeder Acquisition Corp. I (to 2025-10-14)
Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 17:22 ET. Listed shows no prices and gives no investment advice.