---
schema_version: "secwatch.filing_event.v1"
accession: "0001049521-23-000007"
form_type: "8-K"
ticker: "MRCY"
cik: "0001049521"
company_name: "MERCURY SYSTEMS INC"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:32:23.745597+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Mercury Systems Q3 revenue up 4% but adjusted EPS drops; cuts full-year guidance by $34-44M

## Summary
- Revenue $263.5M (+4% YoY); GAAP net income $5.2M ($0.09 EPS) vs $4.1M ($0.07) prior year.
- Adjusted EPS $0.40, down from $0.57; adjusted EBITDA $43.5M vs $52.5M YoY.
- Full-year FY2023 guidance lowered: GAAP net income reduced $34M, adjusted EBITDA reduced $44M at midpoint.
- Backlog $1.10B (+$103.2M YoY); bookings $245M with book-to-bill ratio of 0.93.
- Free cash flow negative $12.7M; management cites shift to development programs and supply chain headwinds.

## SEC filing metadata
- accession: 0001049521-23-000007
- form_type: 8-K
- ticker: MRCY
- cik: 0001049521
- company_name: MERCURY SYSTEMS INC
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1049521/000104952123000007/0001049521-23-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1049521/000104952123000007/mrcy-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001049521-23-000007
- JSON: https://secwatch.observer/filing/0001049521-23-000007.json
- Plain text: https://secwatch.observer/filing/0001049521-23-000007.txt

## Key facts
- Earnings Releases
  MERCURY SYSTEMS INC updated its fiscal year 2023 guidance (lowered).
  - Period: fiscal year 2023
  - Guidance: lowered
  - Result: guidance update
  source text: We’re lowering the range for GAAP net income and adjusted EBITDA by $34 million and $44 million at the midpoint.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1049521/000104952123000007/0001049521-23-000007-index.htm
- Earnings Releases
  MERCURY SYSTEMS INC reported third quarter of fiscal 2023 ended March 31, 2023 results: revenue $263.5 million, net income $5.2 million, EPS $0.09 per share.
  - Period: third quarter of fiscal 2023 ended March 31, 2023
  - Revenue: $263.5 million
  - Net income: $5.2 million
  - EPS: $0.09 per share
  - Result: reported results
  source text: Total Company third quarter fiscal 2023 revenues were $263.5 million, compared to $253.1 million in the third quarter of fiscal 2022. Total Company G AAP net income for the third quarter of fiscal 2023 was $5.2 million, or $0.09 per share, compared to $4.1 million, or $0.07 per share, for the third quarter of fiscal 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1049521/000104952123000007/0001049521-23-000007-index.htm

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