Merlin, Inc.

Merlin, Inc. announced the successful completion of the Critical Design Review (CDR) for its C-130J autonomy program with the U.S. Special Operations Command (USSOCOM). This milestone validates the system's design readiness, moving the program from design development into aircraft integration and positioning it for a formal test campaign. The CDR is part of Merlin's IDIQ contract with USSOCOM, which has a total ceiling value exceeding $100 million, and aims to enhance safety and operations by reducing crew workload.

Merlin, Inc., an aerospace and defense technology company, announced its management is scheduled to participate in three investor conferences in June. These events include the Jefferies Defense Tech Summit, ROTH Capital Partners 16th Annual London Conference, and Maxim Group Defense Tech Conference. The company aims to engage with investors regarding its autonomous flight operating system and advancements in aerospace and defense technology.

Merlin, Inc. reported a significant widening of its net loss to $90.4 million for the first quarter of 2026, compared to $12.7 million in the prior year, driven by increased operating expenses and fair value adjustments. However, the company successfully completed its previously announced merger on March 16, 2026, and secured $120 million in gross proceeds from a private investment in public equity (PIPE) transaction. These strategic actions, along with a subsequent $80 million PIPE in May 2026, have substantially improved the company's liquidity, enabling it to fund operations for at least the next year.

Merlin, Inc. reported its first quarter 2026 financial results, with revenue increasing to $1.0 million, but GAAP net loss widening significantly to $(90.4) million. The company also introduced Condor, its first product family, designed to bring Merlin Pilot to large, multi-crew aircraft for civil and defense missions. Key operational achievements included the first fully automated takeoffs on fixed-wing aircraft and continued progress on its C-130J autonomy program with USSOCOM. Merlin also strengthened its leadership team with new CMO and CRO appointments and improved its liquidity with a recent equity financing.

Merlin, Inc. announced its first quarterly results as a public company for Q1 2026, reporting $1.0 million in revenue and a GAAP net loss of $(90.4) million. The company achieved significant operational milestones, including its first fully automated takeoffs and progress in civil certification. Merlin also introduced "Condor," a new autonomy system for large, multi-crew aircraft, and secured an equity financing round, boosting its liquidity to $183 million post-close. The company also made key leadership appointments.

Merlin, Inc. announced plans to host a presentation and Q&A session to review its business performance for the first quarter ended March 31, 2026. The event is scheduled for Thursday, May 14, 2026, beginning at 8:30 a.m. ET. A registration link for the webcast is available on the company's investor relations website, where a replay and presentation materials will also be posted following the call.

Merlin, Inc. announced an $80 million PIPE investment from Alyeska Master Fund, L.P., an existing institutional shareholder. This financing is expected to boost the company's total cash resources to $183 million, providing significant financial flexibility. The proceeds will be utilized to accelerate program execution, fund regulatory approval activities, scale program capacity, and expand existing and new customer contracts, supporting long-term value creation. The company will issue 8 million shares of common stock and warrants to purchase 4 million shares at a strike price of $6.67.

Merlin, Inc. announced an $80 million private investment in public equity (PIPE) from an existing institutional shareholder. This financing will increase the company's total cash resources to an expected $183 million, strengthening its balance sheet and providing flexibility to accelerate growth, program milestones, and commercial launch. Proceeds will fund core platform development, regulatory approvals, program capacity, and customer contracts.

Merlin, Inc.'s subsidiary, Merlin Labs, has signed an exclusive teaming agreement with Remah International Group (RIG) to introduce its autonomous flight capabilities to the United Arab Emirates (UAE). This partnership designates Merlin and RIG as exclusive partners for autonomous flight systems in the UAE, focusing on identifying suitable use cases and aircraft platforms. The collaboration aims to strengthen operational resilience and reduce risk to human aircrews in a region with evolving defense priorities, leveraging RIG's three-decade relationship with the UAE Armed Forces.

Merlin, Inc. announced the composition of its Board of Directors following its Nasdaq listing on March 17, 2026. The seven-member board includes founder and CEO Matt George as Chairman and six independent directors. The company emphasized that the caliber of the board reflects its commitment to strong governance standards and strategic depth, with directors bringing diverse experience from public service, technology, and aerospace programs.