Mercury Systems Q1 FY22 revenue up 9% to $225M; GAAP net loss; announces Avalex acquisition

MERCURY SYSTEMS INC

2022-Q1 EPS reported -$0.13 revenue$225,013,000

Revenue $225M (+9% YoY); GAAP net loss $7.1M (-$0.13/share) vs net income $15.8M ($0.29) a year ago.
Adjusted EPS $0.41 vs $0.51 YoY; adjusted EBITDA $38.3M vs $42.8M.
Free cash flow negative $7.4M vs positive $12.0M; operating cash flow negative $2.0M.
Bookings $199.3M, book-to-bill 0.89; total backlog $883.9M (+$57.8M YoY).
Announced definitive agreement to acquire Avalex Technologies to scale avionics/mission systems capabilities.

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