Company: MRCY
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001049521-25-000017
Chunk: 8

Company: MERCURY SYSTEMS INC
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 8
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Total NetRevenueNet revenues$638,914 100.0 %$586,712 100.0 %Cost of revenues469,188 73.4 464,023 79.1 Gross margin169,726 26.6 122,689 20.9 Operating expenses:Selling, general and administrative116,698 18.3 123,421 21.0 Research and development55,734 8.7 81,911 14.0 Amortization of intangible assets32,574 5.1 36,350 6.2 Restructuring and other charges7,231 1.1 19,389 3.3 Acquisition costs and other related expenses666 0.1 1,404 0.3 Total operating expenses212,903 33.3 262,475 44.8 Loss from operations(43,177)(6.7)(139,786)(23.9)Interest income2,240 0.4 674 0.1 Interest expense(25,404)(4.0)(25,856)(4.4)Other expense, net(2,900)(0.5)(5,706)(0.9)Loss before income tax benefit(69,241)(10.8)(170,674)(29.1)Income tax benefit(14,967)(2.3)(43,811)(7.5)Net Loss$(54,274)(8.5)%$(126,863)(21.6)%

REVENUES

Total revenues increased $52.2 million, or 8.9%, to $638.9 million during the nine months ended March 28, 2025, as compared to $586.7 million during the nine months ended March 29, 2024. Revenues increased year over year as we pivoted 

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our resources in fiscal 2024 to executing on our program base, including progress toward full rate production of our common processing architecture programs. Point in time revenue and over time revenue represented 51% and 49%, respectively, of total revenues during the nine months ended March 28, 2025, an increase of $70.0 million and $17.8 million, respectively. Point in time revenue and over time revenue represented 44% and 56%, respectively, of total revenue during the nine months ended March 29,