secwatch.observer — SEC 8-K summary
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Issuer:     MERCURY SYSTEMS INC (MRCY)
CIK:        0001049521
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001049521-23-000007
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1049521/000104952123000007/0001049521-23-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1049521/000104952123000007/mrcy-20230502.htm
  HTML page:      https://secwatch.observer/filing/0001049521-23-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer