Filing Flows › Merlin (MRLN) › Q1 2026
Merlin (MRLN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Merlin (MRLN) reported revenue of $1.0M for the first quarter 2026 (Q1 2026), +15% from a year earlier.
Merlin, Q1 2026: revenue $1.0M (+15% year over year), net loss $90.4M, operating cash flow −$23.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0M | — | +15% |
| Operating profit | −$27.0M | — | — |
| Net earnings | −$90.4M | -4016% | -3841% |
| Operating cash flow | −$23.6M | — | — |
What changed
Revenue was $1.0M in Q1 2026, up 15% year over year.
Operating costs exceeded revenue by $27.0M, an operating margin of -2695.8%. The quarter ended with a net loss of $90.4M. Net interest and other expense of $63.4M was the main reason.
Operating cash flow was −$23.6M. Non-cash charges added back $417K of depreciation and $1.3M of share-based compensation. Working capital and other items added $65.1M. Capital expenditures of $2.2M exceeded it, leaving free cash flow of −$25.8M.
Questions
What was Merlin's revenue in the first quarter 2026?
Merlin (MRLN) reported revenue of $1.0M for the first quarter 2026 (Q1 2026), +15% from a year earlier.
Source: Merlin 10-Q on SEC EDGAR.