Company: MRCY
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001049521-25-000009
Chunk: 22

Company: MERCURY SYSTEMS INC
Filing Date: 2025-02-04
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)December 27, 2024June 28, 2024AssetsCurrent assets:Cash and cash equivalents$242,565 $180,521 Accounts receivable, net of allowance for credit losses of $1,951 and $2,020 at December 27, 2024 and June 28, 2024, respectively104,491 111,441 Unbilled receivables and costs in excess of billings, net of allowance for credit losses of $5,311 and $6,340 at December 27, 2024 and June 28, 2024, respectively278,657 304,029 Inventory344,415 335,300 Prepaid expenses and other current assets20,556 22,493 Total current assets990,684 953,784 Property and equipment, net111,459 110,353 Goodwill938,093 938,093 Intangible assets, net226,142 250,512 Operating lease right-of-use assets, net56,525 60,860 Deferred tax assets71,712 58,612 Other non-current assets6,840 6,691 Total assets$2,401,455 $2,378,905 Liabilities and Shareholders’ EquityCurrent liabilities:Accounts payable$64,778 $81,068 Accrued expenses40,471 42,926 Accrued compensation32,015 36,398 Income taxes payable306 109 Deferred revenues and customer advances135,963 73,915 Total current liabilities273,533 234,416 Income taxes payable7,713 7,713 Long-term debt591,500 591,500 Operating lease liabilities57,805 62,584 Other non-current liabilities10,628 9,917 Total liabilities941,179 906,130 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; 58,660,201 and 58,093,528 shares issued and