{"schema_version":"secwatch.filing_event.v1","accession":"0001049521-23-000029","form_type":"8-K","ticker":"MRCY","cik":"0001049521","company_name":"MERCURY SYSTEMS INC","filed_at":"2023-08-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.017024+00:00","generated_at":"2026-06-11T09:08:36.083314+00:00","sec_items":["2.02","2.05","5.02","7.01","9.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Mercury Systems appoints Bill Ballhaus permanent CEO; Q4 net loss $8.2M, cuts 150 jobs","bullets":["Bill Ballhaus appointed President and CEO effective Aug 15, 2023; previously interim CEO since June 24.","Workforce reduction of ~150 positions approved Aug 9, 2023, with expected restructuring charges of ~$9M and annual net savings of ~$24M.","Q4 FY2023 revenue $253.2M (down 13% YoY), GAAP net loss $8.2M ($0.15 loss per share), adjusted EPS $0.11.","Full year FY2023 revenue $973.9M (down 1.4% YoY), GAAP net loss $28.3M ($0.50 loss per share), adjusted EBITDA $132.3M.","Cost savings plan targets FY2024 net savings of $20-22M and $24M annualized; challenged programs impacted EBITDA by ~$56M in FY2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001049521-23-000029","json":"https://secwatch.observer/filing/0001049521-23-000029.json","markdown":"https://secwatch.observer/filing/0001049521-23-000029.md","text":"https://secwatch.observer/filing/0001049521-23-000029.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000029/0001049521-23-000029-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000029/mrcy-20230815.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T09:08:36.083314+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6292ba380b78ce7047103d543bec3ede1d08a583","claim":"MERCURY SYSTEMS INC reported financial results for the fiscal year ended June 30, 2023.","evidence_excerpt":"On August 15, 2023, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the fourth quarter and fiscal year ended June 30, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000029/0001049521-23-000029-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal year ended June 30, 2023"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"e51fe67779984fe99b2ea5318a911bf388271bed","claim":"MERCURY SYSTEMS INC reported financial results for the fourth quarter ended June 30, 2023.","evidence_excerpt":"On August 15, 2023, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the fourth quarter and fiscal year ended June 30, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000029/0001049521-23-000029-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter ended June 30, 2023"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"b377241c81","claim":"William L. Ballhaus was appointed as President and Chief Executive Officer at MERCURY SYSTEMS INC.","evidence_excerpt":"On August 15, 2023, the Company announced that William L. Ballhaus has been appointed as the Company’s President and Chief Executive Officer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000029/0001049521-23-000029-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"f30871b1d8","claim":"William L. Ballhaus was appointed as Chairman of the Board at MERCURY SYSTEMS INC.","evidence_excerpt":"Mr. Ballhaus will become the Company’s Chairman of the Board effective with the 2023 annual meeting of shareholders.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000029/0001049521-23-000029-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chairman of the Board"}],"fact_type":"executive_change"},{"claim_id":"5cd522b5f6471feaefa0b89e73726609fb1a8b63","claim":"MERCURY SYSTEMS INC announced a restructuring with charges of approximately $9 million (eliminates approximately 150 positions).","evidence_excerpt":"On July 20, 2023, we announced the plan to embed the 1MPACT value creation initiatives into operations, and on August 9, 2023, we approved and initiated a workforce reduction that, together with the 1MPACT related action, eliminates approximately 150 positions, resulting in expected restructuring charges of approximately $9 million.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000029/0001049521-23-000029-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $9 million"},{"label":"Headcount","value":"eliminates approximately 150 positions"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}