Mercury Systems Q3 FY2022: Record bookings $295M, but GAAP EPS drops to $0.07 from $0.28 YoY

MERCURY SYSTEMS INC

2022-Q3 EPS reported -$0.10 revenue$698,468,000

Record bookings of $295M (+41% YoY); book-to-bill 1.17; backlog hits record $996M.
Revenue $253.1M (down 1.5% YoY); GAAP net income $4.1M ($0.07 EPS) vs $15.6M ($0.28 EPS) YoY.
Adjusted EPS $0.57 vs $0.64 YoY; adjusted EBITDA $52.5M vs $54.8M.
Operating cash flow turned negative at ($4.3M) vs positive $23.2M YoY; free cash flow ($10.3M).
Refinanced credit facility to $1.1B; expects return to organic growth in Q4 and FY2023, citing supply chain risks.

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