Mercury Systems Q3 Bookings Hit $348M, Backlog Rises 17.9% to $1.6B
MRCY•Mercury Systems delivered record third-quarter bookings of $348 million, a 73.7% year-over-year increase, driving backlog to $1.6 billion, up 17.9%. Q3 revenue rose 11.5% to $236 million, adjusted EBITDA climbed 46.2% to $36 million while GAAP net loss narrowed to $3 million from $19 million.
1. Record Bookings and Backlog
Mercury Systems reported third-quarter bookings of $348 million, up 73.7% year-over-year, yielding a book-to-bill ratio of 1.48 and boosting backlog by 17.9% to $1.6 billion.
2. Revenue and Margin Growth
Q3 revenue rose 11.5% year-over-year to $236 million, driven by organic growth, while adjusted EBITDA increased 46.2% to $36 million, expanding margin to 15.3%.
3. Profitability and Cash Flow
GAAP net loss narrowed to $3 million, or $0.04 per share, versus a $19 million loss a year earlier. Operating cash flow was $6 million and free cash flow was negative $2 million.
4. Investor Conference Call
Management will host a conference call on May 5 to discuss quarterly results, business highlights, outlook and field analyst questions.
