---
schema_version: "secwatch.filing_event.v1"
accession: "0001049521-25-000060"
form_type: "8-K"
ticker: "MRCY"
cik: "0001049521"
company_name: "MERCURY SYSTEMS INC"
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:31:43.605512+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Mercury Systems Q1 revenue up 10% to $225M; record backlog $1.4B; board authorizes $200M buyback

## Summary
- Revenue $225.2M (+10.2% YoY); GAAP net loss $12.5M ($0.21/sh) improves from $17.5M loss.
- Adjusted EBITDA $35.6M (+66% YoY); adjusted EPS $0.26 vs $0.04.
- Bookings $250.2M, book-to-bill 1.11; backlog $1.4B record (+6.5% YoY).
- Operating cash flow $2.2M vs $(14.7)M; free cash flow $(4.4)M improves $16.5M.
- Board authorized $200M share repurchase; amended credit facility to $850M maturing 2030.

## SEC filing metadata
- accession: 0001049521-25-000060
- form_type: 8-K
- ticker: MRCY
- cik: 0001049521
- company_name: MERCURY SYSTEMS INC
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1049521/000104952125000060/0001049521-25-000060-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1049521/000104952125000060/mrcy-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001049521-25-000060
- JSON: https://secwatch.observer/filing/0001049521-25-000060.json
- Plain text: https://secwatch.observer/filing/0001049521-25-000060.txt

## Key facts
- Debt Financings
  MERCURY SYSTEMS INC incurred revolving credit of $850.0 million with Wells Fargo Bank, National Association at floating rates tied to SOFR or the prime rate plus an applicable percentage maturing November 4, 2030.
  - Instrument: revolving credit
  - Principal: $850.0 million
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: floating rates tied to SOFR or the prime rate plus an applicable percentage
  - Maturity: November 4, 2030
  - Event: incurrence
  source text: No. 7 as the successor administrative agent to Bank of America, N.A. Amendment No. 7 provides for (1) a new five-year revolving credit facility maturing on November 4, 2030 with $850.0 million in commitments; (2) the paydown of extensions of credit, and termination of commitments, under the Company’s existing $900.0 million revolving credit facility; (3) an increase in
  evidence_url: https://www.sec.gov/Archives/edgar/data/1049521/000104952125000060/0001049521-25-000060-index.htm

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