Mercury Systems Q1 Update: Financials Show Stock and Earnings Changes

Ticker: MRCY · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1049521

Mercury Systems Inc 10-Q Filing Summary
FieldDetail
CompanyMercury Systems Inc (MRCY)
Form Type10-Q
Filed DateNov 5, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, financials, equity

TL;DR

Mercury Systems Q1 financials filed. Stock, APIC, retained earnings, and AOCI all saw changes.

AI Summary

Mercury Systems Inc. reported its first quarter results for the fiscal year ending September 27, 2024. The company's financial statements show changes in common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income compared to the previous fiscal year.

Why It Matters

This filing provides insight into Mercury Systems' financial health and changes in its equity structure, which can influence investor confidence and future strategic decisions.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not contain immediate red flags or significant negative developments.

Key Numbers

  • 2024-09-27 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
  • 2023-09-29 — Prior Period End Date (Provides a comparison point for financial changes.)

Key Players & Entities

  • MERCURY SYSTEMS INC (company) — Filer
  • 2024-09-27 (date) — End of reporting period
  • 2023-07-01 (date) — Start of prior period
  • 2023-09-29 (date) — End of prior period

FAQ

What were the specific dollar amounts for the changes in common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income for the quarter ending September 27, 2024?

The provided text snippet does not contain the specific dollar amounts for these changes, only the dates associated with them.

What is the fiscal year end for Mercury Systems Inc.?

The fiscal year end for Mercury Systems Inc. is June 30.

What is the SEC file number for this 10-Q filing?

The SEC file number is 001-41194.

When was this 10-Q filing submitted?

This 10-Q filing was submitted on November 5, 2024.

What is the primary business of Mercury Systems Inc. according to the SIC code?

According to the Standard Industrial Classification code, Mercury Systems Inc. is in the business of 'ELECTRONIC COMPONENTS & ACCESSORIES [3670]'.

Filing Stats: 4,550 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-11-05 17:01:27

Key Financial Figures

  • $0.01 — ich Registered Common Stock, par value $0.01 per share MRCY Nasdaq Global Select Mar

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements (unaudited)

Item 1. Consolidated Financial Statements (unaudited) 3 Consolidated Balance Sheets as of September 2 7 , 2024 and June 28 , 202 4 3 Consolidated Statements of Operations and Comprehensive Loss for the first quarters ended September 2 7 , 2024 and September 29 , 2023 4 Consolidated Statements of Shareholders' Equity for the first quarters ended September 2 7 , 2024 and September 29 , 2023 5 Consolidated Statements of Cash Flows for the first quarters ended September 2 7 , 2024 and September 2 9 , 2023 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 33

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 34

Risk Factors

Item 1A. Risk Factors 35

Other Information

Item 5. Other Information 35

Exhibits

Item 6. Exhibits 36

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS MERCURY SYSTEMS, INC. CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) (Unaudited) September 27, 2024 June 28, 2024 Assets Current assets: Cash and cash equivalents $ 158,123 $ 180,521 Accounts receivable, net of allowance for credit losses of $ 1,989 and $ 2,020 at September 27, 2024 and June 28, 2024, respectively 124,546 111,441 Unbilled receivables and costs in excess of billings, net of allowance for credit losses of $ 5,311 and $ 6,340 at September 27, 2024 and June 28, 2024, respectively 298,270 304,029 Inventory 351,088 335,300 Prepaid expenses and other current assets 22,289 22,493 Total current assets 954,316 953,784 Property and equipment, net 105,059 110,353 Goodwill 938,093 938,093 Intangible assets, net 239,306 250,512 Operating lease right-of-use assets, net 58,359 60,860 Deferred tax assets 66,362 58,612 Other non-current assets 7,486 6,691 Total assets $ 2,368,981 $ 2,378,905 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 74,741 $ 81,068 Accrued expenses 42,548 42,926 Accrued compensation 18,098 36,398 Income taxes payable 1,115 109 Deferred revenues and customer advances 96,292 73,915 Total current liabilities 232,794 234,416 Income taxes payable 7,713 7,713 Long-term debt 591,500 591,500 Operating lease liabilities 59,798 62,584 Other non-current liabilities 17,335 9,917 Total liabilities 909,140 906,130 Commitments and contingencies (Note L) Shareholders' equity: Preferred stock, $ 0.01 par value; 1,000,000 shares authorized; no shares issued or outstanding — — Common stock, $ 0.01 par value; 85,000,000 shares authorized; 58,454,728 and 58,093,528 shares issued and outstanding at September 27, 2024 and June 28, 2024, respectively 584 581 Additional paid-in capital 1,253,249 1,242,402 Retained earnings 202,274 219,799 Accumulated other comprehensive income 3,734 9,993 Total shareholders' equity 1,459,841 1,47

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Amounts in thousands except per share data) (Unaudited) A. Description of Business Mercury Systems, Inc. (the Company) is a technology company that delivers mission-critical processing power to the edge - where signals and data are collected - to solve the most pressing aerospace and defense challenges. Mercury's products and solutions are deployed in more than 300 programs and across 35 countries. The Company is headquartered in Andover, Massachusetts, and has over 20 locations worldwide. The Mercury Processing Platform is the unique advantage the Company provides to its customers. It comprises the innovative technologies the Company has developed and acquired for more than 40 years that brings integrated, mission-critical processing capabilities to the edge. The Company's processing platform spans the full breadth of signal processing—from RF front end to the human-machine interface—to rapidly convert meaningful data, gathered in the most remote and hostile environments, into critical decisions. It allows the Company to offer standard products and custom solutions from silicon to system scale, including components, modules, subsystems, and systems, and it embodies the customer-centric approach the Company takes to delivering capabilities that are mission-ready, trusted and secure, software-defined, and open and modular. B. Summary of Significant Accounting Policies B ASIS OF P RESENTATION The accompanying consolidated financial statements have been prepared by the Company in accordance with Generally Accepted Accounting Principles ("GAAP") in the United States of America for interim financial information and with the instructions to the Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in annual consolidated financial statements have been condensed or omitted pursuant to those rules and regulations; however, in the opinion of management the financial info

View Full Filing

View this 10-Q filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.