Company: MRCY
Filing Date: 2025-08-11
Form Type: 10-K
Source: 0001049521-25-000024
Chunk: 74

Company: MERCURY SYSTEMS INC
Filing Date: 2025-08-11
Form: 10-K
Item: Item 7
Chunk 74
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 income before other non-operating adjustments, amortization of intangible assets, restructuring and other charges, impairment of long-lived assets, acquisition, financing and other third party costs, fair value adjustments from purchase accounting, litigation and settlement income and expense, COVID related expenses, and stock-based and other non-cash compensation expense. The impact to income taxes includes the impact to the effective tax rate, current tax provision and deferred tax provision. Adjusted EPS expresses adjusted income on a per share basis using weighted average diluted shares outstanding. 

Adjusted income and adjusted EPS are non-GAAP 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 table reconciles net loss and diluted loss per share, the most directly comparable GAAP financial measures, to adjusted income and adjusted EPS: 

For the Fiscal Years Ended(In thousands, except per share data)June 27, 2025June 28, 2024June 30, 2023Net loss and diluted loss per share$(37,904)$(0.65)$(137,640)$(2.38)$(28,335)$(0.50)   Other non-operating adjustments, net(7,742)(592)(1,589)   Amortization of intangible assets42,849 47,661 53,552    Restructuring and other charges(1)7,216 26,170 6,981    Impairment of long-lived assets— — —    Acquisition, financing and other third party costs(2)6,638 4,370 10,019    Fair value adjustments from purchase accounting617 710 356    Litigation and settlement expense, net13,010 4,927 495    COVID related expenses— — 67    Stock-based and other non-cash compensation expense(3)38,273 41,257 43,031    Impact to income taxes(4)(25,091)(26,621)(27,776)Adjusted income (loss) and adjusted diluted earnings (loss) per share$37,866 $0.64 $(39,758)$(0.69)$56,