Company: MRCY
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001049521-25-000009
Chunk: 3

Company: MERCURY SYSTEMS INC
Filing Date: 2025-02-04
Form: 10-Q
Item: Item 2
Chunk 3
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, and $22.0 million, respectively. Our consolidated revenues, net loss, diluted net loss per share, adjusted earnings per share (“adjusted EPS”), and adjusted EBITDA for the six months ended December 27, 2024 were $427.6 million, ($35.1) million, ($0.60), $0.11, and $43.5 million, respectively. See the Non-GAAP Financial Measures section for a reconciliation to our most directly comparable GAAP financial measures. 

25

RESULTS OF OPERATIONS:

There were 13 weeks included in the results of operations for the second quarters ended December 27, 2024 and December 29, 2023, respectively. The results for the second quarter ended December 27, 2024 are not necessarily indicative of the results to be expected for the full fiscal year.

The second quarter ended December 27, 2024 compared to the second quarter ended December 29, 2023 

The following table sets forth, for the second quarter ended indicated, financial data from the Consolidated Statements of Operations and Comprehensive Loss:(In thousands)December 27, 2024As a % ofTotal NetRevenueDecember 29, 2023As a % ofTotal NetRevenueNet revenues$223,125 100.0 %$197,463 100.0 %Cost of revenues162,299 72.7 165,943 84.0 Gross margin60,826 27.3 31,520 16.0 Operating expenses:Selling, general and administrative40,501 18.2 44,470 22.5 Research and development21,368 9.6 28,476 14.4 Amortization of intangible assets11,154 5.0 12,270 6.3 Restructuring and other charges40 — 2 — Acquisition costs and other related expenses178 0.1 231 0.1 Total operating expenses73,241 32.9 85,449 43.3 Loss from operations(12,415)(5.6)(53,929)(27.3)Interest income406 0.2 29 — Interest expense(8,430)(3.8)(8,674)(4.4)Other expense, net(3,865)(1.7)(1,148)(0.