Company: MRCY
Filing Date: 2025-08-11
Form Type: 10-K
Source: 0001049521-25-000024
Chunk: 62

Company: MERCURY SYSTEMS INC
Filing Date: 2025-08-11
Form: 10-K
Item: Item 7
Chunk 62
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 See Note H in the accompanying consolidated financial statements for further discussions of restructuring charges incurred during the year.

RESULTS OF OPERATIONS:

FISCAL 2025 VS. FISCAL 2024 

Refer to Item 7 of the Company's Form 10-K issued on August 13, 2024 for prior year discussion related to fiscal 2024.

The following tables set forth, for the periods indicated, financial data from the Consolidated Statements of Operations and Comprehensive Loss:(In thousands)Fiscal 2025As a % ofTotal NetRevenueFiscal 2024As a % ofTotal NetRevenueNet revenues$912,020 100.0 %$835,275 100.0 %Cost of revenues657,526 72.1 639,374 76.5 Gross margin254,494 27.9 195,901 23.5 Operating expenses:Selling, general and administrative154,412 16.9 166,786 20.1 Research and development67,647 7.4 101,328 12.1 Amortization of intangible assets42,849 4.7 47,661 5.7 Restructuring and other charges7,216 0.8 26,170 3.1 Acquisition costs and other related expenses1,997 0.2 1,710 0.2 Total operating expenses274,121 30.0 343,655 41.2 Loss from operations(19,627)(2.1)(147,754)(17.7)Interest income3,607 0.4 1,199 0.1 Interest expense(33,430)(3.7)(35,015)(4.2)Other expense, net(974)(0.1)(7,705)(0.9)Loss before income tax benefit(50,424)(5.5)(189,275)(22.7)Income tax benefit(12,520)(1.4)(51,635)(6.2) Net loss$(37,904)(4.1)%$(137,640)(16.5)%

REVENUES

Total revenues increased $76.7 million, or 9.2%, to $912.0 million during fiscal 2025, as compared to $835.3 million during fiscal 2024. Revenues increased year over