Merlin, Inc. Reports First Quarter 2026 Results

Merlin, Inc. reported Q1 2026 revenue of $1.0 million, a 15.4% increase from $0.9 million in the same period last year. The company posted a significant GAAP net loss of $90.4 million, up from $12.7 million in Q1 2025, and an Adjusted EBITDA loss of $23.3 million, compared to $10.4 million in the prior year. Merlin's cash, cash equivalents, and short-term investments were approximately $183 million as of March 31, 2026, with no debt outstanding.

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