{"schema_version":"secwatch.filing_event.v1","accession":"0001049521-23-000045","form_type":"8-K","ticker":"MRCY","cik":"0001049521","company_name":"MERCURY SYSTEMS INC","filed_at":"2023-11-07T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.031574+00:00","generated_at":"2026-06-08T13:09:02.271734+00:00","sec_items":["1.01","2.02","2.03","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Mercury Systems Q1 revenue $181M (-20% YoY), GAAP loss $0.64; reaffirms FY24 outlook","bullets":["Revenue of $181.0M, down from $227.6M YoY; GAAP net loss $36.7M ($0.64 loss per share) vs $14.3M loss prior.","Adjusted EPS $(0.24) vs $0.24 prior; adjusted EBITDA $2.0M vs $31.2M prior.","Free cash flow -$47.1M vs -$73.4M prior; bookings $191.5M, book-to-bill 1.06; backlog $1.15B.","Reiterated full-year FY2024 guidance; completed 2 of 20 challenged programs, on track to complete 5 by H1.","Amended credit facility to temporarily raise leverage covenant to 5.25x for Q2 due to government shutdown uncertainty."],"urls":{"canonical":"https://secwatch.observer/filing/0001049521-23-000045","json":"https://secwatch.observer/filing/0001049521-23-000045.json","markdown":"https://secwatch.observer/filing/0001049521-23-000045.md","text":"https://secwatch.observer/filing/0001049521-23-000045.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000045/0001049521-23-000045-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000045/mrcy-20231107.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T13:09:02.271734+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":"66aed92f7f393bd536861a4670d1b635e48b9919","claim":"MERCURY SYSTEMS INC amended revolving credit of $576.5 million with Bank of America, N.A.","evidence_excerpt":"as the administrative agent. The Company paid a consent fee of 0.125% of the principal amount of the revolving credit commitments held by such consenting lender. The Company had $576.5 million in outstanding borrowings both prior to and following the closing of Amendment No. 5. The foregoing description of the Amendment No. 5 does not purport to be complete and is","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000045/0001049521-23-000045-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$576.5 million"},{"label":"Counterparty","value":"Bank of America, N.A"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"6d6fd1f4cec20e246ee2837e288ddbcb3ae3cb9a","claim":"MERCURY SYSTEMS INC reported financial results for the first quarter ended September 29, 2023.","evidence_excerpt":"On November 7, 2023, the Company issued a press release and an earnings presentation regarding its financial results for the first quarter ended September 29, 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000045/0001049521-23-000045-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the first quarter ended September 29, 2023"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"c607f4face113903c6c9d522611f908471a9d812","claim":"MERCURY SYSTEMS INC amended Amendment No. 5 with a syndicate of commercial banks and Bank of America, N.A acting as the administrative agent (effective 2023-11-07).","evidence_excerpt":"On November 7, 2023, the Company and certain of the Company’s subsidiaries, as guarantors, entered into Amendment No. 5 (“Amendment No. 5”) to the Company’s Credit Agreement dated May 2, 2016, as amended to date","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1049521/000104952123000045/0001049521-23-000045-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"a syndicate of commercial banks and Bank of America, N.A acting as the administrative agent"},{"label":"Effective","value":"2023-11-07"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}