secwatch.observer — SEC 8-K summary
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Issuer:     MERCURY SYSTEMS INC (MRCY)
CIK:        0001049521
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0001049521-23-000045
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mercury Systems Q1 revenue $181M (-20% YoY), GAAP loss $0.64; reaffirms FY24 outlook
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1049521/000104952123000045/0001049521-23-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1049521/000104952123000045/mrcy-20231107.htm
  HTML page:      https://secwatch.observer/filing/0001049521-23-000045

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