Stocks Technology MRLN
NASDAQ · TechnologyMerlin, Inc. (MRLN)
It posted a net loss of $113.8M. At June 30, 2026 it held $183.6M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 14, 2026.
Key facts about Merlin, Inc.
- Net worth
- Merlin, Inc. has a market value (market cap) of $100.4M at the latest share price, and shareholders' equity of -$99.9M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Cash flow
- In fiscal 2025 operations used $1.3M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 14, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
What Merlin, Inc. does
Merlin, Inc. is registered with the SEC under industry code SIC 7373 (Services-Computer Integrated Systems Design). Its shares trade on NASDAQ under the ticker MRLN.
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | n/a | $6M | n/a | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Latest SEC filings
What Merlin, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 27, 2026
- October 13, 2026Passive stake (5% or more) SCHEDULE 13G
- September 18, 2026Passive stake changed SCHEDULE 13G/A
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 14, 2026Quarterly report 10-Q · period to June 30, 2026Revenue fell 29% to $2.2M versus the same quarter last year; diluted EPS -$1.40 versus -$0.23.
- August 13, 2026
- August 13, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026Passive stake changed SCHEDULE 13G/A
- May 20, 2026
Insider trades
What the people running Merlin, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 6 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| September 16, 2026 | FR Capital Holdings, L.P.10% owner | Other changeindirect | 6,651,292 | - |
| September 16, 2026 | FR Capital Holdings, L.P.10% owner | Other changeindirect | 5,097,669 | - |
| September 16, 2026 | George Matthew SpencerChief Executive Officer, Director | Shares withheld for tax | 1,468 | $3.2K |
| September 16, 2026 | Carrithers Ryan MichaelCFO & Treasurer | Shares withheld for tax | 1,073 | $2.4K |
| September 16, 2026 | Ravestein Leslie ReneeCLO and Secretary | Shares withheld for tax | 1,101 | $2.4K |
| September 16, 2026 | Blitzer MichaelDirector | Other change | 262,500 | - |
| May 20, 2026 | George Matthew SpencerChief Executive Officer, Director | Received as pay | 531,807 | - |
| May 20, 2026 | Ravestein Leslie ReneeCLO and Secretary | Received as pay | 199,036 | - |
Who owns MRLN
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Matthew George13D, may seek influence | 17.7% | March 23, 2026 |
| Quiet Capital Management, LLC13G, passive | 16.24% | May 8, 2026 |
| Alyeska Investment Group, L.P.13G, passive with 2 related filers | 9.9% | May 15, 2026 |
| Inflection Point Fund I, LP13G, passive with 2 related filers | 9.9% | October 13, 2026 |
| SnowPoint Ventures GP, LLC13G, passive with 4 related filers | 9.6% | August 12, 2026 |
| Bleichroeder Sponsor 1 LLC13G, passive with 2 related filers | 8.2% | August 14, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 62 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Alyeska Investment Group, L.P. | 7,402,996 | new |
| Baillie Gifford & Co | 2,016,289 | 0 |
| UBS Group AG | 1,034,899 | +761,813 |
| BlackRock, Inc. | 711,898 | new |
| XTX Topco Ltd | 431,905 | +402,197 |
| Geode Capital Management, LLC | 426,791 | +376,786 |
| Vanguard Capital Management LLC | 391,813 | new |
| Susquehanna International Group, Llp | 358,644 | new |
| Jane Street Group, LLC | 280,778 | +228,340 |
| Charles Schwab Investment Management Inc | 224,414 | new |
| Vanguard Fiduciary Trust Co | 184,720 | new |
| Marshall Wace, Llp | 176,099 | new |
| State Street Corp | 165,700 | new |
| LPL Financial LLC | 161,930 | new |
| Marex Group Ltd | 131,500 | new |
| Tudor Investment Corp ET AL | 100,000 | new |
| ExodusPoint Capital Management, LP | 85,567 | -258,280 |
| Wells Fargo & Company | 81,600 | new |
| HighTower Advisors, LLC | 80,754 | new |
| Advisory Services Network, LLC | 77,600 | new |
Insiders
11 insiders reported holding 40,279,098 shares in total, about $40M at the last price.
| Holder | Shares |
|---|---|
| George Matthew SpencerChief Executive Officer, Director | 30,311,583 |
| Bleichroeder Sponsor 1 LLC10% owner | 8,800,833 |
| Blitzer MichaelDirector | 300,000 |
| Carrithers Ryan MichaelCFO & Treasurer | 255,343 |
| Brunner Mark RawlinsChief Revenue Officer | 225,904 |
| Ravestein Leslie ReneeCLO and Secretary | 197,935 |
| Smith Robert HansonDirector | 37,500 |
| Brannon KelynDirector | 37,500 |
| Trabuco CarolynDirector | 37,500 |
| Montelongo MichaelDirector | 37,500 |
Questions about MRLN
What does Merlin, Inc. do?
Merlin, Inc. is a company in the Technology sector, listed on NASDAQ as MRLN. Its shares trade on NASDAQ under the ticker MRLN.
What is Merlin, Inc.'s net worth?
Merlin, Inc. has a market value (market cap) of $100.4M at the latest share price, and shareholders' equity of -$99.9M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Merlin, Inc. profitable?
No. Over the twelve months to June 30, 2026 it reported a net loss of $113.8M.
When did Merlin, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 14, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the executive or director change from October 27, 2026.
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Where the numbers come from
Financial figures are the values Merlin, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.