Mercury Systems Q1 FY27 revenue $253M, +12.4% YoY; bookings $370M, +48%; raises FY27 outlook

MERCURY SYSTEMS INC

• Revenue $253M vs $225M a year ago, up 12.4%; GAAP net income $13M ($0.21 EPS) vs $13M loss ($0.21 loss).
• Adjusted EPS $0.52 vs $0.26; adjusted EBITDA $56M, up 58.6%, at 22.3% margin; bookings $370M, book-to-bill 1.46.
• Backlog approaching $2.1B, up 44.7% YoY (+$637M); next-12-month backlog over $1.0B; net debt $232M, down 19%.
• FY27 outlook raised; Q1 operating cash flow -$14M and free cash flow -$24M vs -$4M a year ago.
• Dave Farnsworth formalized as COO alongside CFO, $500K RSU award; CAO Douglas Munro exits Nov 13; Brian Caulfield acting CAO with $50K retention bonus.