Company: MRCY
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001049521-25-000009
Chunk: 19

Company: MERCURY SYSTEMS INC
Filing Date: 2025-02-04
Form: 10-Q
Item: Item 2
Chunk 19
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 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: 

Second Quarters Ended(In thousands, except per share data)December 27, 2024December 29, 2023Net loss and loss per share$(17,579)$(0.30)$(45,581)$(0.79)Other non-operating adjustments, net2,549 (1,042)Amortization of intangible assets11,154 12,270 Restructuring and other charges40 2 Impairment of long-lived assets— — Acquisition, financing and other third party costs1,109 860 Fair value adjustments from purchase accounting178 178 Litigation and settlement expense, net2,087 1,383 Stock-based and other non-cash compensation expense11,424 10,195 Impact to income taxes(1)(7,022)(2,446)Adjusted income (loss) and adjusted earnings (loss) per share(2)$3,940 $0.07 $(24,181)$(0.42)Diluted weighted-average shares outstanding58,843 57,424 (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 were no impact to the calculation of adjusted earnings per share as a result of this for the second quarters ended December 27, 2024 and December 29, 2023.

Six Months Ended(In thousands, except per share data)December 27, 2024December 29, 2023Net loss and loss per share$(35,104)$(0.60)$(82,289)$(1.44)Other non-operating