Company: MRCY
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001049521-25-000062
Chunk: 33

Company: MERCURY SYSTEMS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 1
Chunk 33
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 of revenues$1,760 $113 Selling, general and administrative6,296 4,611 Research and development1,517 1,368 Stock-based compensation expense before tax9,573 6,092 Income taxes(1)(2,585)(1,645)Stock-based compensation expense, net of income taxes$6,988 $4,447 (1) Federal and state statutory rate of 27%

L.Operating Segment, Geographic Information and Significant Customers

Operating segments are defined as components of an enterprise evaluated regularly by the Company's chief executive officer who acts as its Chief Operating Decision Maker ("CODM") in deciding how to allocate resources and assess performance. The Company evaluated its internal organization under FASB ASC 280, Segment Reporting (“ASC 280”) to determine whether there has been a change to its conclusion of a single operating and reportable segment. The Company concluded there has been no changes given the CODM continues to evaluate and manage the Company on the basis of one operating and reportable segment. The Company utilized the management approach for determining its operating segment in accordance with ASC 280. The CODM utilizes Net loss that is reported on the Consolidated Statement of Operations and Comprehensive Loss to assess operating performance and make decisions related to resource allocation. The Company's significant segment expenses include stock-based compensation and depreciation which are disclosed in Note K and Note E, respectively. Any other significant segment expenses which are regularly provided to the CODM are provided on the Consolidated Statement of Operations and Comprehensive Loss. The Company's segment assets are reported on the Consolidated Balance Sheets as Total Assets and its segment purchase of property plant and equipment are disclosed in Note E.The geographic distribution of the Company’s revenues as determined by country in which the Company's legal subsidiary is domiciled is summarized as follows:U.S.EuropeEliminationsTotalFIRST QUARTER ENDED SEPTEMBER 26, 2025Net revenues to unaffiliated customers$211,998 $13,211 $— $225,209 Inter-geographic revenues2,301 2,486 (4,787)— Net revenues$214,299 $15,697 $(4,787)$225,209 FIRST QUARTER ENDED SEPTEMBER 27, 2024Net revenues to unaffiliated customers$192,660 $11,771 $— $204,431 Inter-geographic revenues2,055 2,819 (