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Not getting a return is not always negative. Sometimes, the firm may not offer it because they can't afford FT (some boutique shops hire if the demand justifies it) or if something unexpected occurs (client pulls out, covid hits, etc.). There's also a cultural fit or work fit thing where neither the intern nor the firm want to continue. 

As a candidate, I would agree with the comment above - I would definitely not mention not receiving an offer. However, as an interviewer/recruiter, I wouldn't immediately assume that not receiving one is purely on a merit basis as well. There are always externalities when it comes to hiring.

 

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