Mercury Systems Q2 rev $229.6M (+4%), GAAP loss $10.9M; CFO departs, strategic review launched

MERCURY SYSTEMS INC

Revenue $229.6M (+4% YoY); GAAP net loss $10.9M ($0.19 loss per share); adjusted EPS $0.26 vs $0.39 prior year.
Bookings $270.3M, book-to-bill 1.18; record backlog $1.12B; free cash flow $22.2M.
Board approved exploration of strategic alternatives including potential sale of company.
CFO Michael Ruppert departs Feb 17, 2023; Michelle McCarthy named interim CFO, receives $200k restricted stock award.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michael D. Ruppert

Executive Vice President, Chief Financial Officer, and Treasurer

MRCY · MERCURY SYSTEMS INC

Effective: 2023-02-17
Successor: Michelle M. McCarthy
Filed: January 31, 2023, 6:59 PM ET

On January 25, 2023, Michael D. Ruppert, the Company’s Executive Vice President, Chief Financial Officer, and Treasurer informed the Company that he will be departing on February 17, 2023.

Appointed (interim)

Michelle M. McCarthy

interim Chief Financial Officer and Treasurer

MRCY · MERCURY SYSTEMS INC

Effective: 2023-02-17
Filed: January 31, 2023, 6:59 PM ET

The Company’s Board of Directors has appointed Michelle M. McCarthy as the Company’s interim Chief Financial Officer and Treasurer effective February 17, 2023, in addition to her current duties as the Company’s Senior Vice President, Chief Accounting Officer.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MERCURY SYSTEMS INC updated its fiscal year 2023 guidance (reaffirmed).

Period: fiscal year 2023
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

we’re maintaining our full-year guidance for revenue and adjusted EBITDA.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael D. Ruppert departed as Executive Vice President, Chief Financial Officer, and Treasurer at MERCURY SYSTEMS INC.

Action: will be departing
Role: Executive Vice President, Chief Financial Officer, and Treasurer

Exact text from the filing

On January 25, 2023, Michael D. Ruppert, the Company’s Executive Vice President, Chief Financial Officer, and Treasurer informed the Company that he will be departing on February 17, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michelle M. McCarthy was appointed as interim Chief Financial Officer and Treasurer at MERCURY SYSTEMS INC.

Action: appointed
Role: interim Chief Financial Officer and Treasurer

Exact text from the filing

The Company’s Board of Directors has appointed Michelle M. McCarthy as the Company’s interim Chief Financial Officer and Treasurer effective February 17, 2023, in addition to her current duties as the Company’s Senior Vice President, Chief Accounting Officer.

View on SEC.gov

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MERCURY SYSTEMS INC filing history →

Source: SEC EDGAR

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