Mercury Systems (MRCY) reported second-quarter fiscal 2025 results, wherein the top and bottom lines beat the Zacks Consensus Estimate.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The aerospace and defense tech firm reported non-GAAP earnings of 7 cents per share, surpassing the Zacks Consensus Estimate of a loss of 8 cents. The bottom line skyrocketed 116.7% year over year.Mercury Systems’ non-GAAP revenues increased 13% year over year to $223.1 million. The top line beat the cons ...

For the quarter ended December 2024, Mercury Systems (MRCY) reported revenue of $223.13 million, up 13% over the same period last year. EPS came in at $0.07, compared to -$0.42 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $180.52 million, representing a surprise of +23.60%. The company delivered an EPS surprise of +187.50%, with the consensus EPS estimate being -$0.08.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

SECOND QUARTER FISCAL YEAR 2025 FINANCIAL RESULTS Bill Ballhaus Chairman and CEO David Farnsworth Executive Vice President and CFO February 4, 2025, 5:00 pm ET WEBCAST LOGIN AT WWW.MRCY.COM/INVESTOR WEBCAST REPLAY AVAILABLE BY 7:00 P.M. ET FEBRUARY 4, 2025 /Mercury Proprietary/No Tech Data/ © Mercury Systems, Inc. 1 Forward-looking safe harbor statement This presentation contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including th ...

Mercury Systems (MRCY) came out with quarterly earnings of $0.07 per share, beating the Zacks Consensus Estimate of a loss of $0.08 per share. This compares to loss of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 187.50%. A quarter ago, it was expected that this maker of processing systems and software would post a loss of $0.13 per share when it actually produced earnings of $0.04, delivering a surprise of 130.77%.Ov ...

Revenue Performance - Total revenues increased by $25.7 million, or 13.0%, to $223.1 million for the second quarter ended December 27, 2024, compared to $197.5 million for the same period in 2023[133]. - Total revenues increased by $49.1 million, or 13.0%, to $427.6 million for the six months ended December 27, 2024, compared to $378.5 million for the same period in 2023[151]. - Point in time revenue represented 55% of total revenues for the second quarter ended December 27, 2024, an increase from 47% in the prior year[133]. - The increase in total revenue by end application was primarily driven by radar applications, which increased by $36.0 million[134]. Profitability and Loss - The company reported a net loss of $17.6 million for the second quarter ended December 27, 2024, compared to a net loss of $45.6 million for the same period in 2023[129]. - The net loss for the six months ended December 27, 2024, was $35.1 million, an improvement from a net loss of $82.3 million in the same period in 2023[188]. - For the second quarter ended December 27, 2024, the company reported a net loss of $17,579,000, or $(0.30) per share, compared to a net loss of $45,581,000, or $(0.79) per share for the same period in 2023[192]. - For the six months ended December 27, 2024, the company reported a net loss of $35,104,000, or $(0.60) per share, compared to a net loss of $82,289,000, or $(1.44) per share for the same period in 2023[194]. Expenses Management - Research and development expenses decreased by $7.1 million, or 25.0%, to $21.4 million, primarily due to headcount reductions of 111 employees[138]. - Selling, general and administrative expenses decreased by $4.0 million, or 8.9%, to $40.5 million, mainly due to lower bad debt expense and compensation costs[137]. - Research and development expenses decreased by $20.6 million, or 34.1%, to $39.8 million, mainly due to headcount reductions and decreased spending on outside services[156]. - Selling, general and administrative expenses decreased by $6.6 million, or 8.2%, to $73.7 million, primarily due to workforce reductions and lower bad debt expenses[155]. Cash Flow and Financial Position - Cash provided by operating activities for the six months ended December 27, 2024, was $70.8 million, a significant increase from $6.4 million for the same period in 2023[175]. - The company generated $85,462,000 in net cash provided by operating activities for the second quarter, an increase from $45,494,000 in the same quarter of 2023[198]. - Free cash flow for the second quarter was $81,907,000, compared to $37,504,000 in the prior year[198]. - For the six months ended December 27, 2024, free cash flow was $61,011,000, a significant improvement from a negative free cash flow of $(9,579,000) in the same period of 2023[198]. Tax and Interest - The company recorded an income tax benefit of $12.3 million on a loss before income taxes of $47.4 million for the six months ended December 27, 2024[163]. - The effective tax rate for the six months ended December 27, 2024 was affected by federal and state research and development credits and non-deductible compensation[164]. - Interest income rose to $1.0 million for the six months ended December 27, 2024, compared to $0.1 million in the prior year, attributed to higher average cash and cash equivalents[160]. - Interest expense increased to $17.3 million from $16.5 million, driven by higher average outstanding borrowings[161]. Workforce and Restructuring - The company executed a workforce reduction on January 29, 2025, eliminating approximately 145 positions, with expected restructuring charges of $5.0 million[141]. - The company has over 2,374 employees, focusing on engineering and research to maintain technological leads in high-performance sensor processing[128]. Strategic Initiatives - The company filed a shelf registration statement on October 4, 2023, to raise capital for acquisitions, debt repayment, and other corporate purposes[168]. - The company continues to explore acquisitions or strategic alliances as part of its growth strategy[181]. - The company executed Amendment No. 5 to the Revolver, increasing the Consolidated Total Net Leverage Ratio covenant from 4.50 to 5.25 for Q2 2024[169]. Market Presence - Mercury Systems' products are deployed in more than 300 programs across 35 countries, highlighting its global market presence[123]. Other Financial Metrics - Adjusted EBITDA for the six months ended December 27, 2024, was $43.5 million, compared to an adjusted EBITDA of $(19.4) million for the same period in 2023[188]. - Adjusted income for the second quarter was $3,940,000, or $0.07 per share, compared to an adjusted loss of $24,181,000, or $(0.42) per share in the prior year[192]. - Adjusted income for the six months was $6,384,000, or $0.11 per share, compared to an adjusted loss of $37,860,000, or $(0.66) per share in the prior year[194]. - The company incurred $22,389,000 in amortization of intangible assets for the six months ended December 27, 2024, compared to $24,817,000 in the same period of 2023[194]. - The company reported $11,424,000 in stock-based and other non-cash compensation expense for the second quarter of 2024, up from $10,195,000 in the same quarter of 2023[192]. - There were no material changes in the company's exposure to market risk from June 28, 2024, to December 27, 2024[202].

Mercury Systems Reports Second Quarter Fiscal 2025 Results ANDOVER, Mass. February 4, 2025 Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the second quarter of fiscal year 2025, ended December 27, 2024. "We delivered solid results in the second quarter of fiscal 2025 that were once again in line with or ahead of our expectations, and I'm optimistic about our ongoing efforts to improve performance as we move through the fiscal year," said Bill Ballhaus, Mercury's Chairman ...

Q2 FY25 Bookings of $242.4 million; book-to-bill ratio of 1.09Record backlog of $1.4 billion; up 6% year-over-yearQ2 FY25 Revenue of $223.1 million; GAAP net loss of $17.6 million; and adjusted EBITDA of $22.0 millionRecord Operating Cash Flow of $85.5 million with Free Cash Flow of $81.9 million ANDOVER, Mass., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the second quarter of fiscal year 2025, ended December 27, 2024. “We delivered so ...

Mercury Systems’ (MRCY) shares appreciated 22.7% in the trailing six months, outperforming the Zacks Aerospace sector and the Zacks Aerospace – Defense Equipment Industry, and its peers, including Hexcel (HXL) , AAR (AIR) and Woodward (WWD) .Over the same timeframe, shares of Hexcel, AAR and Woodward have returned 11.3%, 8.4%, and 7%, respectively. Meanwhile, the sector and the industry have returned 7.3% and 20.4%, respectively.Mercury Systems’ positive share price movement reflects its ability to deliver ...

ANDOVER, Mass., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a technology company that delivers mission-critical processing power to the edge, today announced it was awarded a $24.5 million contract to develop a data processing and storage subsystem for a U.S. Defense Department satellite program. Under a contract with an innovative space systems prime contractor, Mercury will deliver a number of these subsystems that leverage its commercial products and deep experti ...

Key Appointments - Tyler Hojo has been appointed as Vice President of Investor Relations, reporting to CFO David Farnsworth, and will be responsible for developing and implementing a comprehensive investor relations strategy [1] - Krishna Sinha has been appointed as Vice President of Strategy and Corporate Development, reporting to CFO David Farnsworth, and will lead the development of the company's long-term strategic plan, including inorganic acquisition and partnership strategies [1] - Robin Milton has been appointed as Chief Marketing and Communications Officer, reporting to Chief Human Resources Officer Steve Ratner, and will drive the development and execution of Mercury's strategic marketing plan [7] Company Overview - Mercury Systems is a technology company that delivers mission-critical processing power to the edge, enabling advanced technologies for aerospace and defense missions [2] - The Mercury Processing Platform allows customers to leverage innovative capabilities from silicon to system scale, turning data into actionable insights [2] - Mercury's products and solutions are deployed in over 300 programs across 35 countries, supporting mission computing, sensor processing, command and control, and communications [2] - The company is headquartered in Andover, Massachusetts, and has 23 locations worldwide [2] Leadership Perspective - Mercury Chairman and CEO Bill Ballhaus expressed excitement about the new hires, stating that they bring vital, diverse, and complementary skillsets to the leadership team [2] - The company believes it has now largely established the strategy, structure, and personnel necessary to drive its next phase of growth [2] Forward-Looking Statements - The press release contains forward-looking statements related to the company's strategic plan execution, but these statements involve risks and uncertainties that could cause actual results to differ materially from projections [3][4]