Company: MRCY
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001049521-25-000062
Chunk: 93

Company: MERCURY SYSTEMS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 8
Chunk 93
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4, respectively. The results for the first quarter ended September 26, 2025 are not necessarily indicative of the results to be expected for the full fiscal year.

The first quarter ended September 26, 2025 compared to the first quarter ended September 27, 2024 

The following table sets forth, for the first quarter ended indicated, financial data from the Consolidated Statements of Operations and Comprehensive Loss:

(In thousands)September 26, 2025As a % ofTotal NetRevenueSeptember 27, 2024As a % ofTotal NetRevenueNet revenues$225,209 100.0 %$204,431 100.0 %Cost of revenues162,310 72.1 152,641 74.7 Gross margin62,899 27.9 51,790 25.3 Operating expenses:Selling, general and administrative45,906 20.3 33,153 16.2 Research and development13,184 5.9 18,383 9.0 Amortization of intangible assets10,259 4.6 11,235 5.5 Restructuring and other charges1,584 0.7 2,260 1.1 Acquisition costs and other related expenses563 0.2 177 0.1 Total operating expenses71,496 31.7 65,208 31.9 Loss from operations(8,597)(3.8)(13,418)(6.6)Interest income2,027 0.9 544 0.3 Interest expense(7,886)(3.5)(8,906)(4.4)Other expense, net(2,080)(1.0)(1,339)(0.6)Loss before income tax benefit(16,536)(7.4)(23,119)(11.3)Income tax benefit(4,021)(1.8)(5,594)(2.7)Net Loss$(12,515)(5.6)%$(17,525)(8.6)%

REVENUES

Total revenues increased $20.8 million, or 10.2%, to $225.2 million during the first quarter ended September 26, 2025, as compared to $204.4 million during the first quarter ended September 27, 2024. Revenues increased year