Merlin Q1 net loss $90.4M; introduces Condor product; automated takeoffs achieved

Merlin, Inc.

Total revenue $1.0M (vs $0.9M Q1 2025); GAAP net loss $90.4M (vs $12.7M).
Adjusted EBITDA loss $23.3M (vs $10.4M Q1 2025).
Cash and short-term investments $122.8M at March 31, 2026 (vs $59.3M Dec 31, 2025); no debt.
Introduced Condor product for large multi-crew aircraft; MOU with World Star Aviation for civil cargo.
Appointed Michael Baker as CMO (Mar 31) and Mark Brunner as CRO (Apr 13).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Merlin, Inc. reported first quarter ended March 31, 2026 results: revenue $1.0 million, net income $(90.4) million.

Period: first quarter ended March 31, 2026
Revenue: $1.0 million
Net income: $(90.4) million
Result: reported results

Exact text from the filing

First quarter 2026 Total revenue of $1.0 million, compared to $0.9 million in the first quarter of 2025 ● First quarter 2026 GAAP net loss of $(90.4) million, compared to $(12.7) million in the first quarter of 2025

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44 earnings releases filed in the last 30 days. Browse all earnings releases →

Merlin, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-26-056230

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