Mercury Systems (MRCY)

Nasdaq Industrials Electrical Components & Equipment S&P SmallCap 600

$73.55

+8.00 (+12.20%)

Close of Nov 06, 2026 · end-of-day data

Source: Mercury Systems's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$408.59M	$493.18M	$654.74M	$796.61M	$924.00M	$988.20M	$973.88M	$835.27M	$912.02M	$983.62M
Cost of revenue	$217.04M	$267.33M	$368.59M	$439.77M	$538.81M	$593.24M	$657.15M	$639.37M	$657.53M	$702.46M
Gross profit	$191.54M	$225.86M	$286.16M	$356.84M	$385.19M	$394.96M	$316.73M	$195.90M	$254.49M	$281.17M
Research & development	$54.09M	$58.81M	$68.92M	$98.48M	$113.48M	$107.17M	$108.80M	$101.33M	$67.65M	$59.74M
Selling, general & admin	$76.49M	$88.36M	$110.72M	$132.25M	$134.34M	$157.04M	$160.64M	$166.79M	$154.41M	$175.03M
Operating income	$37.40M	$46.98M	$76.58M	$91.06M	$81.00M	$31.61M	-$21.68M	-$147.75M	-$19.63M	$280.00K
Interest expense	$7.57M	$2.85M	$9.11M	$1.01M	$1.22M	$5.81M	$25.16M	$35.02M	$33.43M	$29.59M
Pre-tax income	$31.07M	$42.57M	$59.53M	$93.93M	$77.17M	$18.39M	-$48.54M	-$189.28M	-$50.42M	-$28.89M
Income tax	$6.19M	$1.69M	$12.75M	$8.22M	$15.13M	$7.12M	-$20.21M	-$51.63M	-$12.52M	$784.00K
Net income	$24.88M	$40.88M	$46.77M	$85.71M	$62.04M	$11.28M	-$28.34M	-$137.64M	-$37.90M	-$29.67M
EBITDA	$69.67M	$89.26M	$122.98M	$140.39M	$148.08M	$125.03M	$75.64M	-$59.72M	$62.40M	$72.96M
EPS (basic)	$0.59	$0.88	$0.98	$1.57	$1.13	$0.20	$-0.50	$-2.38	$-0.65	$-0.50
EPS (diluted)	$0.58	$0.86	$0.96	$1.56	$1.12	$0.20	$-0.50	$-2.38	$-0.65	$-0.50
Diluted shares	43.02M	47.47M	48.50M	55.12M	55.47M	55.90M	56.55M	57.74M	58.75M	59.46M
Gross margin	46.9%	45.8%	43.7%	44.8%	41.7%	40.0%	32.5%	23.5%	27.9%	28.6%
Operating margin	9.2%	9.5%	11.7%	11.4%	8.8%	3.2%	-2.2%	-17.7%	-2.2%	0.0%
Net margin	6.1%	8.3%	7.1%	10.8%	6.7%	1.1%	-2.9%	-16.5%	-4.2%	-3.0%

Balance sheet

fiscal years · USD

Fiscal year	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash & equivalents	$41.64M	$66.52M	$257.93M	$226.84M	$113.84M	$65.65M	$71.56M	$180.52M	$309.10M	$214.31M
Receivables	$76.34M	$104.04M	$118.83M	$120.44M	$128.81M	$144.49M	$124.73M	$111.44M	$109.59M	$69.22M
Inventory	$81.07M	$108.58M	$137.11M	$178.09M	$221.64M	$270.34M	$337.22M	$335.30M	$332.92M	$366.97M
Total current assets	$246.20M	$331.74M	$582.17M	$634.77M	$643.10M	$815.25M	$937.02M	$953.78M	$1.06B	$973.44M
Goodwill	$380.85M	$497.44M	$562.15M	$614.08M	$804.91M	$937.88M	$938.09M	$938.09M	$938.09M	$942.42M
Total assets	$815.75M	$1.06B	$1.42B	$1.61B	$1.96B	$2.30B	$2.39B	$2.38B	$2.43B	$2.32B
Total current liabilities	$72.84M	$71.68M	$98.03M	$125.92M	$150.82M	$193.93M	$233.26M	$234.42M	$300.38M	$328.52M
Short-term debt	$0	—	—	—	—	—	—	—	—	—
Total debt	$0	—	—	—	—	—	—	—	—	—
Total liabilities	$90.33M	$292.59M	$132.24M	$225.94M	$470.99M	$767.23M	$824.68M	$906.13M	$961.30M	$825.32M
Shareholders' equity	$725.42M	$771.89M	$1.28B	$1.38B	$1.48B	$1.54B	$1.57B	$1.47B	$1.47B	$1.50B

Cash flow

fiscal years · USD

Fiscal year	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Operating cash flow	$59.15M	$43.32M	$97.52M	$115.18M	$97.25M	-$18.87M	-$21.25M	$60.38M	$138.85M	$102.39M
Capital expenditures	$32.84M	$15.11M	$26.69M	$43.29M	$45.60M	$27.66M	$38.80M	$34.29M	$19.80M	$34.30M
Free cash flow	$26.30M	$28.21M	$70.83M	$71.89M	$51.65M	-$46.52M	-$60.05M	$26.09M	$119.05M	$68.09M
Investing cash flow	-$111.09M	-$200.88M	-$153.77M	-$135.49M	-$416.89M	-$274.32M	-$38.56M	-$34.29M	-$13.50M	-$35.72M
Financing cash flow	$11.34M	$182.94M	$247.76M	-$10.93M	$206.23M	$245.75M	$65.43M	$82.68M	$1.41M	-$162.74M
Share buybacks	$8.77M	$15.51M	$7.97M	$16.25M	$66.00K	$8.21M	$63.00K	$31.00K	$0	$15.00M
Stock-based compensation	$15.34M	$17.31M	$19.42M	$26.54M	$28.29M	$38.29M	$27.75M	$25.67M	$25.02M	$41.13M
Depreciation & amortization	$32.27M	$42.28M	$46.39M	$49.33M	$67.08M	$93.42M	$97.33M	$88.03M	$82.03M	$72.68M

Income statement

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jul 2026
Revenue	$180.99M	$197.46M	$208.26M	$248.56M	$204.43M	$223.12M	$211.36M	$273.11M	$225.21M	$232.87M	$235.76M	$289.78M
Cost of revenue	$130.46M	$165.94M	$167.62M	$175.35M	$152.64M	$162.30M	$154.25M	$188.34M	$162.31M	$172.24M	$166.71M	$201.20M
Gross profit	$50.53M	$31.52M	$40.64M	$73.21M	$51.79M	$60.83M	$57.11M	$84.77M	$62.90M	$60.63M	$69.05M	$88.58M
Research & development	$31.87M	$28.48M	$21.56M	$19.42M	$18.38M	$21.37M	$15.98M	$11.91M	$13.18M	$15.38M	$15.01M	$16.16M
Selling, general & admin	$35.79M	$44.47M	$43.16M	$43.37M	$33.15M	$40.50M	$43.04M	$37.71M	$45.91M	$42.14M	$39.14M	$47.85M
Operating income	-$40.20M	-$53.93M	-$45.66M	-$7.97M	-$13.42M	-$12.41M	-$17.34M	$23.55M	-$8.60M	-$10.82M	$5.23M	$14.46M
Interest expense	$7.86M	$8.67M	$9.32M	$9.16M	$8.91M	$8.43M	$8.07M	$8.03M	$7.89M	$7.85M	$7.33M	$6.52M
Pre-tax income	-$49.73M	-$63.72M	-$57.22M	-$18.60M	-$23.12M	-$24.30M	-$21.82M	$18.82M	-$16.54M	-$17.46M	-$2.69M	$7.79M
Income tax	-$13.03M	-$18.14M	-$12.64M	-$7.82M	-$5.59M	-$6.72M	-$2.65M	$2.45M	-$4.02M	-$2.36M	$174.00K	$7.00M
Net income	-$36.71M	-$45.58M	-$44.57M	-$10.78M	-$17.52M	-$17.58M	-$19.17M	$16.37M	-$12.52M	-$15.10M	-$2.86M	$798.00K
EBITDA	-$17.51M	-$31.74M	-$23.90M	$13.42M	$7.80M	$8.51M	$2.57M	$43.52M	$10.32M	$7.48M	$23.19M	$31.98M
EPS (basic)	$-0.64	$-0.79	$-0.77	$-0.18	$-0.30	$-0.30	$-0.33	$0.28	$-0.21	$-0.26	$-0.04	$0.01
EPS (diluted)	$-0.64	$-0.79	$-0.77	$-0.18	$-0.30	$-0.30	$-0.33	$0.28	$-0.21	$-0.26	$-0.04	$0.01
Diluted shares	57.10M	57.42M	57.70M	202.00K	58.26M	58.56M	58.75M	132.00K	59.19M	59.41M	59.42M	74.00K
Gross margin	27.9%	16.0%	19.5%	29.5%	25.3%	27.3%	27.0%	31.0%	27.9%	26.0%	29.3%	30.6%
Operating margin	-22.2%	-27.3%	-21.9%	-3.2%	-6.6%	-5.6%	-8.2%	8.6%	-3.8%	-4.6%	2.2%	5.0%
Net margin	-20.3%	-23.1%	-21.4%	-4.3%	-8.6%	-7.9%	-9.1%	6.0%	-5.6%	-6.5%	-1.2%	0.3%

Balance sheet

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jul 2026
Cash & equivalents	$89.37M	$168.65M	$142.65M	$180.52M	$158.12M	$242.56M	$269.82M	$309.10M	$304.72M	$334.99M	$331.80M	$214.31M
Receivables	$91.45M	$82.74M	$91.78M	$111.44M	$124.55M	$104.49M	$103.40M	$109.59M	$92.65M	$105.83M	$95.55M	$69.22M
Inventory	$362.91M	$354.21M	$343.01M	$335.30M	$351.09M	$344.42M	$352.69M	$332.92M	$340.25M	$349.64M	$361.69M	$366.97M
Total current assets	$954.70M	$983.82M	$951.51M	$953.78M	$954.32M	$990.68M	$1.02B	$1.06B	$1.08B	$1.13B	$1.12B	$973.44M
Goodwill	$938.09M	$938.09M	$938.09M	$938.09M	$938.09M	$938.09M	$938.09M	$938.09M	$938.09M	$938.09M	$942.61M	$942.42M
Total assets	$2.40B	$2.44B	$2.38B	$2.38B	$2.37B	$2.40B	$2.41B	$2.43B	$2.46B	$2.50B	$2.48B	$2.32B
Total current liabilities	$205.32M	$225.72M	$207.57M	$234.42M	$232.79M	$273.53M	$296.56M	$300.38M	$322.18M	$383.04M	$350.50M	$328.52M
Total liabilities	$859.95M	$931.76M	$905.38M	$906.13M	$909.14M	$941.18M	$963.33M	$961.30M	$982.58M	$1.04B	$1.00B	$825.32M
Shareholders' equity	$1.54B	$1.50B	$1.47B	$1.47B	$1.46B	$1.46B	$1.45B	$1.47B	$1.48B	$1.46B	$1.48B	$1.50B

Cash flow

quarters · USD

Quarter ended	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jul 2026
Operating cash flow	-$39.07M	$45.49M	-$17.80M	$71.76M	-$14.66M	$85.46M	$29.97M	$38.08M	$2.18M	$51.61M	$6.44M	$42.15M
Capital expenditures	$8.02M	$7.99M	$7.94M	$10.35M	$6.24M	$3.56M	$5.91M	$4.10M	$6.55M	$5.90M	$8.26M	$13.59M
Free cash flow	-$47.08M	$37.50M	-$25.74M	$61.41M	-$20.90M	$81.91M	$24.06M	$33.98M	-$4.37M	$45.71M	-$1.82M	$28.57M
Investing cash flow	-$8.02M	-$7.99M	-$7.94M	-$10.35M	-$6.24M	-$1.66M	-$3.21M	-$2.40M	-$6.55M	-$5.90M	-$9.68M	-$13.59M
Financing cash flow	$65.00M	$41.22M	$0	-$23.54M	-$2.25M	$1.49M	$0	$2.17M	$0	-$15.43M	$0	-$147.31M
Share buybacks	$0	$15.00K	$0	$16.00K	—	—	$0	$0	—	—	$0	$0
Stock-based compensation	$4.12M	$7.39M	$6.92M	$7.25M	$6.09M	$7.96M	$8.55M	$2.42M	$9.57M	$10.59M	$9.05M	$11.92M
Depreciation & amortization	$22.69M	$22.19M	$21.75M	$21.39M	$21.22M	$20.92M	$19.92M	$19.97M	$18.91M	$18.30M	$17.96M	$17.51M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.