Recent Updates — BACQ

On October 27, 2026, Merlin appointed Mark Brunner, currently the company's Chief Revenue Officer, as President. Brunner brings extensive defense technology experience from roles at PsiQuantum and Primer AI. Current CEO and Chairman Matthew George will retain his executive and board positions. This leadership change adds operational oversight without altering the top of the corporate hierarchy. Merlin operates in the defense technology sector.

Merlin, Inc. reported financial results for the second quarter ended June 30, 2026, showing total revenue of $2.2 million compared to $1.0 million in the prior quarter. The company posted a GAAP net loss of $(58.4) million, an improvement from the $(90.4) million loss in Q1 2026, while Adjusted EBITDA widened to a loss of $(27.8) million from $(23.3) million previously. Cash, cash equivalents, and short-term investments increased to $183.9 million at quarter-end. Operational highlights include completing the Critical Design Review for the USSOCOM C-130J autonomy program, executing a fully autonomous landing at EAA AirVenture Oshkosh, signing an MOU with Israel Aerospace Industries, and achieving Stage of Involvement 3 certification with New Zealand's Civil Aviation Authority. Merlin operates in the aerospace and defense technology sector, developing autonomous flight operating systems.