---
schema_version: "secwatch.filing_event.v1"
accession: "0001049521-22-000016"
form_type: "8-K"
ticker: "MRCY"
cik: "0001049521"
company_name: "MERCURY SYSTEMS INC"
filed_at: "2022-05-03T23:59:59+00:00"
generated_at: "2026-06-26T01:12:12.164379+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001049521-22-000016
- form_type: 8-K
- ticker: MRCY
- cik: 0001049521
- company_name: MERCURY SYSTEMS INC
- filed_at: 2022-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1049521/000104952122000016/0001049521-22-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1049521/000104952122000016/mrcy-20220503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001049521-22-000016
- JSON: https://secwatch.observer/filing/0001049521-22-000016.json
- Plain text: https://secwatch.observer/filing/0001049521-22-000016.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.