Company: MRCY
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001049521-25-000017
Chunk: 77

Company: MERCURY SYSTEMS INC
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 77
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 financial measures and should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. We expect to continue to incur expenses similar to the adjusted income and adjusted EPS financial adjustments described above, and investors should not infer from our presentation of these non-GAAP financial measures that these costs are unusual, infrequent or non-recurring.

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The following tables reconcile net loss and diluted loss per share, the most directly comparable GAAP measures, to adjusted income (loss) and adjusted EPS: 

Third Quarters Ended(In thousands, except per share data)March 28, 2025March 29, 2024Net loss and loss per share$(19,170)$(0.33)$(44,574)$(0.77)Other non-operating adjustments, net(3,911)(64)Amortization of intangible assets10,185 11,533 Restructuring and other charges4,931 9,841 Impairment of long-lived assets— — Acquisition, financing and other third party costs1,072 778 Fair value adjustments from purchase accounting131 177 Litigation and settlement expense, net5,467 2,096 Stock-based and other non-cash compensation expense12,124 11,461 Impact to income taxes(1)(7,240)(6,384)Adjusted income (loss) and adjusted earnings (loss) per share(2)$3,589 $0.06 $(15,136)$(0.26)Diluted weighted-average shares outstanding59,367 57,698 (1) Impact to income taxes is calculated by recasting income before income taxes to include the items involved in determining adjusted income and recalculating the income tax provision using this adjusted income from operations before income taxes. The recalculation also adjusts for any discrete tax expense or benefit related to the items. (2) Adjusted earnings per share is calculated using diluted shares whereas Net loss per share or Adjusted loss per share is calculated using basic shares. There was no impact to the calculation of adjusted earnings per share as a result of this for the third quarters ended March 28, 2025 and March 29, 2024.

Nine Months Ended(In thousands, except per share data)March 28, 2025March 29, 2024Net loss and loss per share$(54,274)$(0.93)$(126,863)$(2.20)