Company: MRCY
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001049521-25-000017
Chunk: 138

Company: MERCURY SYSTEMS INC
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 138
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asting income before income taxes to include the items involved in determining adjusted income and recalculating the income tax provision using this adjusted income from operations before income taxes. The recalculation also adjusts for any discrete tax expense or benefit related to the items. (2) Adjusted earnings per share is calculated using diluted shares whereas Net loss per share or Adjusted loss per share is calculated using basic shares. There was no impact to the calculation of adjusted earnings per share as a result of this for the third quarters ended March 28, 2025 and March 29, 2024.

Nine Months Ended(In thousands, except per share data)March 28, 2025March 29, 2024Net loss and loss per share$(54,274)$(0.93)$(126,863)$(2.20)Other non-operating adjustments, net(3,097)(375)Amortization of intangible assets32,574 36,350 Restructuring and other charges7,231 19,389 Impairment of long-lived assets— — Acquisition and financing costs4,512 2,970 Fair value adjustments from purchase accounting486 532 Litigation and settlement expense, net8,948 3,982 Stock-based and other non-cash compensation expense34,108 30,607 Impact to income taxes(1)(20,515)(19,588)Adjusted income (loss) and adjusted earnings (loss) per share(2)$9,973 $0.17 $(52,996)$(0.92)Diluted weighted-average shares outstanding59,024 57,536 (1) Impact to income taxes is calculated by recasting income before income taxes to include the items involved in determining adjusted income and recalculating the income tax provision using this adjusted income from operations before income taxes. The recalculation also adjusts for any discrete tax expense or benefit related to the items. (2) Adjusted earnings per share is calculated using diluted shares whereas Net loss per share is calculated using basic shares. There was a $0.01 impact to the calculation of adjusted earnings per share as a result of this for the nine months ended March 28, 2025 and no impact to the calculation of adjusted earnings per share as a result of this for the nine months ended March 29, 2024.

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Free cash flow, a non-GAAP measure for reporting cash flow, is defined as cash provided by