Company: MRCY
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001049521-25-000017
Chunk: 61

Company: MERCURY SYSTEMS INC
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 61
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 % ofTotal NetRevenueMarch 29, 2024As a % ofTotal NetRevenueNet revenues$211,358 100.0 %$208,258 100.0 %Cost of revenues154,248 73.0 167,616 80.5 Gross margin57,110 27.0 40,642 19.5 Operating expenses:Selling, general and administrative43,044 20.4 43,157 20.7 Research and development15,983 7.6 21,563 10.4 Amortization of intangible assets10,185 4.8 11,533 5.5 Restructuring and other charges4,931 2.3 9,841 4.7 Acquisition costs and other related expenses311 0.1 204 0.1 Total operating expenses74,454 35.2 86,298 41.4 Loss from operations(17,344)(8.2)(45,656)(21.9)Interest income1,290 0.6 542 0.3 Interest expense(8,068)(3.8)(9,319)(4.5)Other income (expense), net2,304 1.1 (2,784)(1.3)Loss before income tax benefit(21,818)(10.3)(57,217)(27.5)Income tax benefit(2,648)(1.2)(12,643)(6.1)Net Loss$(19,170)(9.1)%$(44,574)(21.4)%

REVENUES

Total revenues increased $3.1 million, or 1.5%, to $211.4 million during the third quarter ended March 28, 2025, as compared to $208.3 million during the third quarter ended March 29, 2024. Revenues increased year over year as we pivoted our resources in fiscal 2024 to executing on our program base, including progress toward full rate production of our common processing architecture programs. Point in time revenue and over time revenue represented 53% and 47%, respectively, of total revenues during the third quarter ended March 28, 2025, an increase of $24.9 million and decrease of $21.8 million, respectively. Point in time revenue and over time revenue represented