MERCURY SYSTEMS INCMRCYEarnings & Financial Report
Mercury Systems, Inc. is a technology company serving the aerospace and defense industry. It designs, develops and manufactures open architecture computer hardware and software products, including secure embedded processing modules and subsystems, avionics mission computers and displays, rugged secure computer servers, and trusted microelectronics components, modules and subsystems.
Revenue
$223.1M
Gross Profit
$60.8M
Operating Profit
$-12.4M
Net Profit
$-17.6M
Gross Margin
27.3%
Operating Margin
-5.6%
Net Margin
-7.9%
YoY Growth
13.0%
EPS
$-0.30
MERCURY SYSTEMS INC Q2 FY2025 Financial Summary
MERCURY SYSTEMS INC reported revenue of $223.1M (up 13.0% YoY) for Q2 FY2025, with a net profit of $-17.6M (up 61.4% YoY) (-7.9% margin). Cost of goods sold was $162.3M, operating expenses totaled $73.2M.
Key Financial Metrics
| Total Revenue | $223.1M |
|---|---|
| Net Profit | $-17.6M |
| Gross Margin | 27.3% |
| Operating Margin | -5.6% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
MERCURY SYSTEMS INC Q2 FY2025 revenue of $223.1M breaks down across 6 segments, led by Other at $48.1M (21.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other | $48.1M | 21.5% |
| Radar | $47.1M | 21.1% |
| Modules And Sub Assemblies | $46.1M | 20.7% |
| Components | $45.1M | 20.2% |
| Electronic Warfare | $23.9M | 10.7% |
| Space | $11.8M | 5.3% |
MERCURY SYSTEMS INC Revenue by Segment — Quarterly Trend
MERCURY SYSTEMS INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Other and Radar) has evolved quarter over quarter.
| Segment | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 |
|---|---|---|---|---|
| Other | — | — | $49.5M | $53.8M |
| Components | — | $48.7M | $45.5M | — |
| Electronic Warfare | — | $27.5M | $21.0M | — |
MERCURY SYSTEMS INC Annual Revenue by Year
MERCURY SYSTEMS INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $912.0M).
| Year | Annual Revenue |
|---|---|
| 2025 | $912.0M |
| 2024 | $835.3M |
| 2023 | $973.9M |
MERCURY SYSTEMS INC Quarterly Revenue & Net Profit History
MERCURY SYSTEMS INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 FY2026 | $235.8M | +11.5% | $-2.9M | -1.2% |
| Q2 FY2026 | $232.9M | +4.4% | $-15.1M | -6.5% |
| Q1 FY2026 | $225.2M | +10.2% | $-12.5M | -5.6% |
| Q4 FY2025 | $273.1M | +9.9% | $16.4M | 6.0% |
| Q3 FY2025 | $211.4M | +1.5% | $-19.2M | -9.1% |
| Q2 FY2025 | $223.1M | +13.0% | $-17.6M | -7.9% |
| Q1 FY2025 | $204.4M | +13.0% | $-17.5M | -8.6% |
| Q4 FY2024 | $248.6M | -1.8% | $-10.8M | -4.3% |
Income Statement
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $248.6M | $204.4M | $223.1M | $211.4M | $273.1M | $225.2M | $232.9M | $235.8M |
| YoY Growth | -1.8% | 13.0% | 13.0% | 1.5% | 9.9% | 10.2% | 4.4% | 11.5% |
Balance Sheet
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.38B | $2.37B | $2.40B | $2.41B | $2.43B | $2.46B | $2.50B | $2.48B |
| Liabilities | $906.1M | $909.1M | $941.2M | $963.3M | $961.3M | $982.6M | $1.04B | $1.00B |
| Equity | $1.47B | $1.46B | $1.46B | $1.45B | $1.47B | $1.48B | $1.46B | $1.48B |
Cash Flow
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $71.8M | $-14.7M | $85.5M | $30.0M | $38.1M | $2.2M | $51.6M | $6.4M |