Added to YB: 2026-05-26
Pitch date: 2026-03-20
MRLN [bullish]
Merlin, Inc.
-18.32%
current return
Author Info
No bio for this author
Company Info
Merlin, Inc., an aerospace and defense technology company, develops AI-powered autonomous flight software and systems for aircraft in the United States and New Zealand.
Market Cap
$684.4M
Pitch Price
$8.68
Price Target
1.7K (+23990%)
Dividend
N/A
EV/EBITDA
-10.90
P/E
-0.08
EV/Sales
96.81
Sector
Aerospace and Defense
Category
growth
Merlin, Inc. - $MRLN
MRLN: 800+ military aircraft under contract (C-130J+KC-135); $3M integration+$2M/yr license=$1.6B ARR line of sight; GE/Northrop/Honeywell partnerships; FAA approval secured (5-yr process); SOI-2 cert (NZ); solves 2,000-pilot shortage saving $7M/aircraft/yr; 100% equity rollover; Baillie Gifford increased position in PIPE upsizing; 90.3% redemption concentrated cap table; ~$6.80 entry via rights vs $541M EV; Bear: C-130J only=$53/share (7.7x); Base: 800 tails@20x=$366 (54x); Bull: 6k tails@12.5x=$1,708 (251x); trades 1/56th Anduril, 1/45th PLTR on EV/Rev despite defense-grade autonomy stack already flying.
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