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Merlin, Inc. (MRLN)

Merlin, Inc. (MRLN)

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Balance Sheets Overview

Current Ratio
1466.77%
Quick Ratio
1466.77%
Cash Ratio
1409.43%
Debt to Asset Ratio
69.77%
Unit: Thousand (K) dollars
Assets Breakdown
    • Cash and cash equivalents
    • Prepaid expenses and other curre...
    • Restricted cash
    • Others
Liabilities Breakdown
    • Accumulated deficit
    • Additional paid-in capital
    • Series a preferred stock and red...
    • Others
Balance Sheets
2026-06-30
2026-03-31
Cash and cash equivalents
183,550
122,777
Short-term investments
321
325
Accounts receivable, net
1,755
1,342
Prepaid expenses and other current assets
5,391
5,570
Capitalized transaction costs (note 2)
0
-
Total current assets
191,017
130,014
Property and equipment, net
11,226
10,285
Operating lease right-of-use assets, net
2,058
2,401
Restricted cash
2,570
2,569
Deposits
107
107
Total assets
206,978
145,376
Accounts payable
5,882
6,855
Accrued expenses
6,004
6,343
Deferred revenue
42
-
Contract loss provision
155
738
Operating lease liabilities, current
940
977
Long-term debt, current portion, net
0
-
Convertible promissory notes (note 8)
0
-
Total current liabilities
13,023
14,913
Operating lease liabilities, non-current
1,250
1,442
Warrant liabilities (note 9)
130,137
87,803
Long-term debt, non-current portion, net (12,207 at fair value and 577 at amortized cost, net as of december 31, 2025) (note 8)
0
-
Total liabilities
144,410
104,158
Series a preferred stock and redeemable convertible preferred stock-Series APreferred Stock
162,497
180,331
Series a preferred stock and redeemable convertible preferred stock-Redeemable Convertible Preferred Stock
0
-
Common stock 0.0001 par value 800,000,000 and 138,655,675 shares authorized 100,592,160 and 69,663,395 shares issued and outstanding as of june 30, 2026 and december 31, 2025, respectively
10
8
Additional paid-in capital
599,960
502,351
Accumulated deficit
-699,899
-641,472
Total stockholders' deficit
-99,929
-139,113
Total liabilities, mezzanine equity, and stockholders' deficit
206,978
145,376
Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.

Time Plot

Show the time plot by selecting a row from the table.

Balance Sheets

Cash and cashequivalents$183,550K Prepaid expenses andother current assets$5,391K Accounts receivable, net$1,755K Short-term investments$321K Total current assets$191,017K Property and equipment,net$11,226K Restricted cash$2,570K Operating leaseright-of-use assets, net$2,058K Deposits$107K Total assets$206,978K Accumulated deficit-$699,899K Total liabilities,mezzanine equity, and...$206,978K Total stockholders'deficit-$99,929K Additional paid-in capital$599,960K Common stock 0.0001 parvalue 800,000,000 and...$10K Series a preferredstock and redeemable...$162,497K Total liabilities$144,410K Warrant liabilities(note 9)$130,137K Total currentliabilities$13,023K Operating leaseliabilities, non-current$1,250K Accrued expenses$6,004K Accounts payable$5,882K Operating leaseliabilities, current$940K Contract loss provision$155K Deferred revenue$42K