The earnings call indicates strong financial performance with record bookings, revenue growth, improved margins, and positive cash flow. However, challenges remain with low-margin backlog and uncertainties in guidance for FY '26.

Company Guidance

During the Mercury Systems Fourth Quarter Fiscal 2025 Conference Call, the company reported robust financial growth, highlighted by record quarterly bookings of $342 million and a book-to-bill ratio of 1.25, resulting in a record backlog of $1.4 billion. The Q4 revenue was $273 million, reflecting a 9.9% year-over-year increase, while full-year revenue reached $912 million, up 9.2% from the prior year. Adjusted EBITDA for Q4 was $51 million, with a margin of 18.8%, contributing to a full-year EBITDA of $119 million and a 13.1% margin. The company also achieved a record full-year free cash flow of $119 million, with Q4 contributing $34 million. The focus remains on four strategic priorities: performance excellence, organic growth, margin expansion, and improved free cash flow, with ongoing efforts to enhance program execution and optimize operational efficiencies.

Record Quarterly Bookings and Backlog

Mercury Systems achieved record quarterly bookings of $342 million and a book-to-bill ratio of 1.25, resulting in a record backlog of $1.4 billion.

Revenue Growth

Q4 revenue increased to $273 million, up 9.9% year-over-year. Full year revenue reached $912 million, up 9.2% from the previous year.

Improved Margins and Cash Flow

Q4 adjusted EBITDA was $51 million with a margin of 18.8%. Full year adjusted EBITDA was $119 million with a margin of 13.1%. Free cash flow for the year was a record $119 million.

Operational Efficiency

Operating expenses decreased approximately $20 million or 25% year-over-year, and net working capital was reduced by $90 million year-over-year.

Positive Free Cash Flow

Free cash flow in Q4 was $34 million, exceeding expectations of breakeven, driven by accelerated customer deliveries and cash receipts.

Mercury Systems (MRCY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

MRCY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2026 (Q1)	0.09 / -	0.04	―	―	―
Aug 11, 2025	2025 (Q4)	0.22 / 0.47	0.23	104.35% (+0.24)
May 06, 2025	2025 (Q3)	0.08 / 0.06	-0.26	123.08% (+0.32)
Feb 04, 2025	2025 (Q2)	-0.05 / 0.07	-0.42	116.67% (+0.49)
Nov 05, 2024	2025 (Q1)	-0.08 / 0.04	-0.24	116.67% (+0.28)
Aug 13, 2024	2024 (Q4)	>-0.01 / 0.23	0.11	109.09% (+0.12)
May 07, 2024	2024 (Q3)	-0.02 / -0.26	0.4	-165.00% (-0.66)
Feb 06, 2024	2024 (Q2)	0.07 / -0.42	0.26	-261.54% (-0.68)
Nov 07, 2023	2024 (Q1)	0.18 / -0.24	0.24	-200.00% (-0.48)
Aug 15, 2023	2023 (Q4)	0.52 / 0.11	0.81	-86.42% (-0.70)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MRCY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 11, 2025	$53.58	$68.02	+26.95%
May 06, 2025	$50.41	$47.95	-4.88%
Feb 04, 2025	$42.09	$49.88	+18.51%
Nov 05, 2024	$34.19	$42.22	+23.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Mercury Systems Inc (MRCY) report earnings?

Mercury Systems Inc (MRCY) is schdueled to report earning on Nov 11, 2025, After Close (Confirmed).

What is Mercury Systems Inc (MRCY) earnings time?

Mercury Systems Inc (MRCY) earnings time is at Nov 11, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is MRCY EPS forecast?

MRCY EPS forecast for the fiscal quarter 2026 (Q1) is 0.09.

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