Company: MRCY
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001049521-25-000017
Chunk: 22

Company: MERCURY SYSTEMS INC
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 22
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ITEM 1.     FINANCIAL STATEMENTS

MERCURY SYSTEMS, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

(Unaudited)March 28, 2025June 28, 2024AssetsCurrent assets:Cash and cash equivalents$269,822 $180,521 Accounts receivable, net of allowance for credit losses of $1,765 and $2,020 at March 28, 2025 and June 28, 2024, respectively103,401 111,441 Unbilled receivables and costs in excess of billings, net of allowance for credit losses of $5,311 and $6,340 at March 28, 2025 and June 28, 2024, respectively271,293 304,029 Inventory352,689 335,300 Prepaid income taxes2,960 — Prepaid expenses and other current assets19,339 22,493 Total current assets1,019,504 953,784 Property and equipment, net107,477 110,353 Goodwill938,093 938,093 Intangible assets, net215,977 250,512 Operating lease right-of-use assets, net54,640 60,860 Deferred tax assets72,575 58,612 Other non-current assets6,151 6,691 Total assets$2,414,417 $2,378,905 Liabilities and Shareholders’ EquityCurrent liabilities:Accounts payable$73,554 $81,068 Accrued expenses45,406 42,926 Accrued compensation35,120 36,398 Income taxes payable— 109 Deferred revenues and customer advances142,484 73,915 Total current liabilities296,564 234,416 Income taxes payable7,713 7,713 Long-term debt591,500 591,500 Operating lease liabilities55,315 62,584 Other non-current liabilities12,236 9,917 Total liabilities963,328 906,130 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; 58,852