Company: MRCY
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001049521-25-000009
Chunk: 125

Company: MERCURY SYSTEMS INC
Filing Date: 2025-02-04
Form: 10-Q
Item: Item 8
Chunk 125
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21.2 Research and development39,751 9.3 60,348 15.9 Amortization of intangible assets22,389 5.2 24,817 6.6 Restructuring and other charges2,300 0.5 9,548 2.5 Acquisition costs and other related expenses355 0.1 1,200 0.4 Total operating expenses138,449 32.3 176,177 46.6 Loss from operations(25,833)(6.0)(94,130)(24.9)Interest income950 0.2 132 — Interest expense(17,336)(4.1)(16,537)(4.4)Other expense, net(5,204)(1.2)(2,922)(0.7)Loss before income tax benefit(47,423)(11.1)(113,457)(30.0)Income tax benefit(12,319)(2.9)(31,168)(8.2)Net Loss$(35,104)(8.2)%$(82,289)(21.8)%

REVENUES

Total revenues increased $49.1 million, or 13.0%, to $427.6 million during the six months ended December 27, 2024, as compared to $378.5 million during the six months ended December 29, 2023. 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. Point in time revenue and over time revenue each represented 50% of total revenues during the six months ended December 27, 2024, an increase of $45.0 million and $4.1 million, respectively. Point and time revenue and over time revenue represented 45% and 55% respectively, of total revenue during the six months ended December 29, 2023. 

Revenue increases by product groupings were driven by the integrated solutions, modules and sub-assemblies and components which increased $26.1 million, $11.7 million and $11.3 million, respectively. The increase in total revenue by end application was primarily driven by the radar, other, and other sensor and effector increases of $43.1 million, $29.1 million, and $4.7 million respectively, partially offset by decreases to C