Merlin, Inc.

Merlin, Inc. is an aerospace and defense technology company that develops AI-powered autonomous flight software and systems for aircraft in the United States and New Zealand. Its aircraft-agnostic software platform enables autonomous flight for both legacy and next-generation airborne systems. The company's main product, the Merlin Pilot, is an integrated hardware and software solution that manages navigation, communication with air traffic control, obstacle avoidance, and real-time decision-making using sensor technologies and natural language processing. Merlin supports military and civil aviation programs, including cargo transport and national security operations, and collaborates with partners and regulators on flight trials and certification of autonomous flight systems. It serves defense organizations, commercial aviation clients, government agencies, regulators, and air cargo operators. Founded in 2018, the company is based in Boston, Massachusetts.

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Merlin Hits All-Time Low of $4.83 After Earnings Miss, Analysts See 169% Upside

Merlin, Inc. has fallen more than 44% over the past six months to an all-time low of $4.83, following a fiscal first-quarter 2026 earnings miss on May 14 where revenue of $1.0 million came in well below the $3 million consensus. Analysts' average 12-month price target implies a potential rebound of over 169% from current levels. Operationally, the company completed its first fully automated takeoffs on fixed-wing aircraft in the US and New Zealand, and its civil certification program is advancing with New Zealand's aviation authority alongside the FAA. On June 4, Merlin announced it had completed the Critical Design Review for its C-130J autonomy program with US Special Operations Command, shifting the effort from design development into aircraft integration and a formal test campaign.

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