Company: MRCY
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001049521-25-000017
Chunk: 3

Company: MERCURY SYSTEMS INC
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 3
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 million, ($54.3) million, ($0.93), $0.17, and $68.2 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 third quarters ended March 28, 2025 and March 29, 2024, respectively. The results for the third quarter ended March 28, 2025 are not necessarily indicative of the results to be expected for the full fiscal year.

The third quarter ended March 28, 2025 compared to the third quarter ended March 29, 2024 

The following table sets forth, for the third quarter ended indicated, financial data from the Consolidated Statements of Operations and Comprehensive Loss:

(In thousands)March 28, 2025As a % ofTotal NetRevenueMarch 29, 2024As a % ofTotal NetRevenueNet revenues$211,358 100.0 %$208,258 100.0 %Cost of revenues154,248 73.0 167,616 80.5 Gross margin57,110 27.0 40,642 19.5 Operating expenses:Selling, general and administrative43,044 20.4 43,157 20.7 Research and development15,983 7.6 21,563 10.4 Amortization of intangible assets10,185 4.8 11,533 5.5 Restructuring and other charges4,931 2.3 9,841 4.7 Acquisition costs and other related expenses311 0.1 204 0.1 Total operating expenses74,454 35.2 86,298 41.4 Loss from operations(17,344)(8.2)(45,656)(21.9)Interest income1,290 0.6 542 0.3 Interest expense(8,068)(3.8)(9,319)(4.5)Other income (expense), net2,304 1.1 (2,784)(1.3)Loss before income tax benefit(21,818)(10.3)(57,217)(27.5)Income tax benefit(2,648)(1.2)(12,643