as of 04-16-2026 3:57pm EST
Mercury Systems Inc is a commercial technology company serving the aerospace and defense industry. The company envisions, creates, and delivers secure open architecture solutions powering a broad range of mission-critical applications in challenging and demanding environments. Its Mercury Processing Platform spans the full breadth of signal processing from radio frequency front end to the human-machine interface to convert meaningful data, gathered in remote and hostile environments, into critical decisions. The company manufactures components, products, modules, and subsystems and sells to defense prime contractors, the U.S. government, original equipment manufacturers, and commercial aerospace companies. Geographically, it derives maximum revenue from the United States.
| Founded: | 1981 | Country: | United States |
| Employees: | N/A | City: | ANDOVER |
| Market Cap: | 5.1B | IPO Year: | 1997 |
| Target Price: | $80.00 | AVG Volume (30 days): | 491.9K |
| Analyst Decision: | Buy | Number of Analysts: | 8 |
| Dividend Yield: | N/A | Dividend Payout Frequency: | N/A |
| EPS: | -0.47 | EPS Growth: | 72.69 |
| 52 Week Low/High: | $44.01 - $103.81 | Next Earning Date: | 05-05-2026 |
| Revenue: | $912,020,000 | Revenue Growth: | 9.19% |
| Revenue Growth (this year): | 6.59% | Revenue Growth (next year): | 9.56% |
| P/E Ratio: | -181.98 | Index: | N/A |
| Free Cash Flow: | 119.0M | FCF Growth: | +2.79% |
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Director, Other
Avg Cost/Share
$89.68
Shares
100,899
Total Value
$9,048,622.32
Owned After
4,114,618
SEC Form 4
Director, Other
Avg Cost/Share
$90.12
Shares
168,648
Total Value
$15,198,557.76
Owned After
4,114,618
SEC Form 4
Director, Other
Avg Cost/Share
$94.05
Shares
182,510
Total Value
$17,165,065.50
Owned After
4,114,618
SEC Form 4
Director
Avg Cost/Share
$88.98
Shares
4,832
Total Value
$429,959.57
Owned After
27,272
SEC Form 4
EVP, CLO & Corp Sec
Avg Cost/Share
$83.56
Shares
2,287
Total Value
$191,091.20
Owned After
68,010
SEC Form 4
SVP, CAO
Avg Cost/Share
$83.56
Shares
582
Total Value
$48,629.24
Owned After
14,328
SEC Form 4
Director, Other
Avg Cost/Share
$81.00
Shares
400,000
Total Value
$32,400,000.00
Owned After
4,114,618
SEC Form 4
| Insider | Ticker | Relationship | Date | Transaction | Avg Cost | Shares | Total Value | Owned After | SEC Forms |
|---|---|---|---|---|---|---|---|---|---|
| JANA Partners Management, LP | MRCY | Director, Other | Mar 4, 2026 | Sell | $89.68 | 100,899 | $9,048,622.32 | 4,114,618 | |
| JANA Partners Management, LP | MRCY | Director, Other | Mar 3, 2026 | Sell | $90.12 | 168,648 | $15,198,557.76 | 4,114,618 | |
| JANA Partners Management, LP | MRCY | Director, Other | Mar 2, 2026 | Sell | $94.05 | 182,510 | $17,165,065.50 | 4,114,618 | |
| LANCE HOWARD L | MRCY | Director | Feb 25, 2026 | Sell | $88.98 | 4,832 | $429,959.57 | 27,272 | |
| KUPINSKY STUART | MRCY | EVP, CLO & Corp Sec | Feb 17, 2026 | Sell | $83.56 | 2,287 | $191,091.20 | 68,010 | |
| Munro Douglas | MRCY | SVP, CAO | Feb 17, 2026 | Sell | $83.56 | 582 | $48,629.24 | 14,328 | |
| JANA Partners Management, LP | MRCY | Director, Other | Feb 9, 2026 | Sell | $81.00 | 400,000 | $32,400,000.00 | 4,114,618 |
SEC 8-K filings with transcript text
Feb 3, 2026 · 100% conf.
1D
+13.05%
$112.24
Act: -22.32%
5D
+13.50%
$112.68
Act: -15.03%
20D
+11.99%
$111.19
Act: -10.17%
mrcy-20260203False0001049521February 3, 202600010495212026-02-032026-02-03
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): February 3, 2026
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On February 3, 2026, Mercury Systems, Inc. (the "Company") issued a press release and an earnings presentation regarding its financial results for the second quarter ended December 26, 2025. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, and free cash flow, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release dated February 3, 2026
99.2Earnings Presentation dated February 3, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: February 3, 2026
By: /s/ David E. Farnsworth David E. Farnsworth Executive Vice President, Chief Financial Officer
Exhibit No. Description
99.1 Press Release, dated February 3, 2026 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated February 3, 2026 of Mercury Systems, Inc.
Nov 4, 2025
mrcy-20251104False0001049521November 4, 202500010495212025-11-042025-11-04
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): November 4, 2025
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 1.01 Entry Into a Material Definitive Agreement On November 4, 2025, Mercury Systems, Inc. (the “Company”), as the borrower, and Mercury Mission Systems, LLC, as a guarantor, entered into Amendment No. 7 (“Amendment No. 7”) to the Company’s Credit Agreement dated May 2, 2016 (the Credit Agreement, as amended, supplemented, waived, or modified from time to time through and including Amendment No. 6, the “Existing Credit Agreement”, and as amended by Amendment No. 7, the “Amended Credit Agreement”) with a syndicate of commercial banks and Wells Fargo Bank, National Association, acting on and after Amendment 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 the amount of unrestricted cash netted from calculations of the consolidated total net leverage ratio from $150.0 million to $225.0 million (also applicable to the new springing senior secured net leverage ratio test described below); (4) an update to the definition of consolidated EBITDA related to certain non-cash charges; (5) the addition to the financial covenants of a springing quarterly maximum senior secured net leverage ratio test triggered upon the issuance of at least $350.0 million of convertible or senior unsecured debt (the “New Financial Covenant Trigger”); and (6) the removal of credit spread adjustments in interest rate calculations. The Company had $591.5 million in outstanding borrowings both prior to and following the closing of Amendment No. 7. Below is a summary of the Amended Credit Agreement. Borrowing Capacity The new revolving credit facility under the Amended Credit Agreement has a borrowing capacity of $850.0 million. The existing revolving credit facility under the Existing Credit Agreement was refinanced and commitments thereunder terminated on November 4, 2025 in connection with entry into the new revolving credit facility. Maturity The new revolving credit facility under the Amended Credit Agreement will mature on November 4, 2030. Interest Rates and Fees Borrowings applicable to the new revolving credit facility under the Amended Credit Agreement bear interest, at the Company’s option, at floating rates tied to SOFR or the prime rate plus an applicable percentage in the case of dollar denominated loans or, in the case of certain other currencies, such alternative floating rates as agreed. The interest rate applicable to outstanding loans is established pursuant to a pricing grid based on the Company’s total net leverage ratio. In addition to interest on the aggregate outstanding principal amounts of any borrowings, the Company also pays a quarterly
Aug 11, 2025
mrcy-20250811False0001049521August 11, 202500010495212025-08-112025-08-11
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): August 11, 2025
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On August 11, 2025, Mercury Systems, Inc. (the "Company" or "we") issued a press release and an earnings presentation regarding its financial results for the fourth quarter and fiscal year ended June 27, 2025. The press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, and free cash flow, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release dated August 11, 2025
99.2Earnings Presentation dated August 11, 2025
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: August 11, 2025
By: /s/ David E. Farnsworth David E. Farnsworth Executive Vice President, Chief Financial Officer
Exhibit No. Description
99.1 Press Release, dated August 11, 2025 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated August 11, 2025 of Mercury Systems, Inc.
May 6, 2025
mrcy-20250506False0001049521May 6, 202500010495212025-05-062025-05-06
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): May 6, 2025
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On May 6, 2025, Mercury Systems, Inc. (the "Company" or "we") issued a press release and an earnings presentation regarding its financial results for the third quarter ended March 28, 2025. The press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Use of Non-GAAP Financial Measures
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, and free cash flow, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release dated May 6, 2025
99.2Earnings Presentation dated May 6, 2025
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: May 6, 2025
By: /s/ David E. Farnsworth David E. Farnsworth Executive Vice President, Chief Financial Officer
Exhibit No. Description
99.1 Press Release, dated May 6, 2025 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated May 6, 2025 of Mercury Systems, Inc.
Apr 1, 2025
mrcy-20250328False000104952100010495212025-03-282025-03-28
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): March 28, 2025
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code) Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
1
Item 2.02 Results of Operations and Financial Condition.
The Company reiterates its most recent provided expectations for the fiscal year ending June 27, 2025.
Information in Item 2.02 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Chief Operating Officer
On March 28, 2025, Charles R. Wells, IV, the Company’s Executive Vice President and Chief Operating Officer, informed the Company that he will be departing for a chief executive officer role at a privately held company.
Upon Mr. Wells’ departure, William L. Ballhaus, Mercury’s Chairman and CEO, will lead the business operations group, with the group’s senior leaders reporting directly to him. David E. Farnsworth, the Company’s Executive Vice President and Chief Financial Officer will assume additional responsibilities including leading a rigorous and focused organization-wide management operating system; actioning a robust and aligned technology investment strategy; overseeing execution related customer engagements; and driving operational performance.
New Compensation Arrangement for Chief Financial Officer
In connection with Mr. Farnsworth’s expanded role, he will be granted a restricted stock unit award with a grant date value of $1,000,000 under the Company’s 2018 Stock Incentive Plan. The number of shares of the Company’s common stock underlying the award will be determined by dividing the grant date value by the average closing price of the Company’s common stock during the 30 calendar days prior to April 15, 2025, the grant date. Such award shall vest in equal installments on each of the first three anniversaries of the grant date, with other vesting terms consistent with the restricted stock unit award that Mr. Farnsworth received in August 2024, except that if Mr. Farnsworth remains with the Company through August 28, 2026, or is terminated by the Company without cause or resigns for good reason prior to that time, all service conditions in such new award will be deemed fully satisfied.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K may contain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipat
Feb 4, 2025
mrcy-20250204False0001049521February 4, 202500010495212025-02-042025-02-04
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): January 29, 2025
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On February 4, 2025, Mercury Systems, Inc. (the "Company" or "we") issued a press release and an earnings presentation regarding its financial results for the second quarter ended December 27, 2024. The press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Use of Non-GAAP Financial Measures
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, and free cash flow, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals.
Item 2.05 Costs Associated with Exit or Disposal Activities. On January 29, 2025, we executed a workforce reduction that will eliminate approximately 145 positions, resulting in expected restructuring charges of approximately $5 million for employee separation costs, which costs will be classified as restructuring and other charges within our statement of operations and other comprehensive income for the fiscal quarter ending March 28, 2025. The headcount savings, primarily within R&D and cost of revenues, are expected to yield annualized savings of approximately $15 million, a portion of which is expected to be reinvested in the business with the remainder supporting improved profitability and operating leverage for our 2026 fiscal year.
Cautionary Statement Regarding Forward-Looking Statements
This Current Report on Form 8-K may contain “forward-lo
Nov 5, 2024
mrcy-20241105False0001049521November 5, 202400010495212024-11-052024-11-05
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): November 5, 2024
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On November 5, 2024, Mercury Systems, Inc. (the "Company") issued a press release and an earnings presentation regarding its financial results for the first quarter ended September 27, 2024. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Use of Non-GAAP Financial Measures
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, and free cash flow, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release dated November 5, 2024
99.2Earnings Presentation dated November 5, 2024
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: November 5, 2024
By: /s/ David E. Farnsworth David E. Farnsworth Executive Vice President, Chief Financial Officer
Exhibit No. Description
99.1 Press Release, dated November 5, 2024 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated November 5, 2024 of Mercury Systems, Inc.
Aug 13, 2024
mrcy-20240813False0001049521August 13, 202400010495212024-08-132024-08-13
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): August 13, 2024
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 1.01. Entry Into a Material Definitive Agreement On August 13, 2024, Mercury Systems, Inc. (the “Company”), as the borrower, and Mercury Mission Systems, LLC, as a guarantor, entered into an Amendment No. 6 (“Amendment No. 6”) to the Company’s Credit Agreement dated May 2, 2016 (the Credit Agreement, as amended, supplemented, waived, or modified from time to time through and including Amendment No. 6, the “Amended Credit Agreement”) with a syndicate of commercial banks and Bank of America, N.A acting as the administrative agent. Amendment No. 6 provides for (1) a permanent reduction in credit commitments from $1.1 billion to $900.0 million; (2) a temporary reduction in the maximum outstanding amount of obligations permitted in respect of revolving credit loans, letter of credit obligations, and swingline loans to $750.0 million, from the date of effectiveness of Amendment No. 6 until the Company delivers a compliance certificate demonstrating a minimum consolidated EBITDA of $75.0 million or greater for the corresponding last twelve-month period, calculated in accordance with the Amended Credit Agreement excluding (a) adjustments for cost savings, operating expense reductions and synergies, (b) estimate at completion (“EAC”) charges and other non-cash expenses, charges, and losses add backs and (c) deducts to reverse EAC charges previously added back, in each case for a last twelve month period; (3) an increase in permitted receivables factoring transactions from $60.0 million to $100.0 million, subject to no default or event of default on the closing of any such factoring transaction; and (4) updates to the definition of consolidated EBITDA under the Amended Credit Agreement related to the treatment of EAC charge addbacks. The Company had $591.5 million in outstanding borrowings both prior to and following the closing of Amendment No. 6. Below is a summary of the Amended Credit Agreement. Borrowing Capacity The Amended Credit Agreement has a borrowing capacity of $900.0 million, with a temporary reduction in the maximum outstanding amount of obligations permitted in respect of revolving credit loans, letter of credit obligations, and swingline loans to $750.0 million, from the date of effectiveness of Amendment No. 6 until the Company delivers a compliance certificate demonstrating a minimum consolidated EBITDA calculated in accordance with the Amended Credit Agreement (but excluding (a) adjustments for cost savings, operating expense reductions and synergies, (b) EAC charges, and other non-cash expense, charges, and losses add backs and (c) deducts to reverse EAC charges previously added back) is $75.0 million or greater for the corresponding last twelve-month period. Maturity The Amended Credit Agreement will mature on February 28, 2027. Interest Rates and Fees Borrowings under the Amended Credit Agreement bear interest, at the Company’s optio
May 7, 2024
mrcy-20240507False0001049521May 7, 202400010495212024-05-072024-05-07
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): May 7, 2024
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On May 7, 2024, Mercury Systems, Inc. (the "Company") issued a press release and an earnings presentation regarding its financial results for the third quarter ended March 29, 2024. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Use of Non-GAAP Financial Measures
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release dated May 7, 2024
99.2Earnings Presentation dated May 7, 2024
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: May 7, 2024
By: /s/ David E. Farnsworth David E. Farnsworth Executive Vice President, Chief Financial Officer
Exhibit No. Description
99.1 Press Release, dated May 7, 2024 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated May 7, 2024 of Mercury Systems, Inc.
Feb 6, 2024
mrcy-20240206False0001049521February 6, 202400010495212024-02-062024-02-06
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): February 6, 2024
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts001-4119404-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On February 6, 2024, Mercury Systems, Inc. (the "Company") issued a press release and an earnings presentation regarding its financial results for the second quarter ended December 29, 2023. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Use of Non-GAAP Financial Measures
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release dated February 6, 2024
99.2Earnings Presentation dated February 6, 2024
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: February 6, 2024
By: /s/ David E. Farnsworth David E. Farnsworth Executive Vice President, Chief Financial Officer
Exhibit No. Description
99.1 Press Release, dated February 6, 2024 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated February 6, 2024 of Mercury Systems, Inc.
Nov 7, 2023
mrcy-20231107False000104952100010495212023-11-072023-11-07
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): November 7, 2023
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 1.01. Entry Into a Material Definitive Agreement Due to the uncertainty surrounding a potential government shutdown or prolonged continuing resolution and the potential impact on second quarter and fiscal 2024 results, Mercury Systems, Inc. (the “Company”) proactively executed an amendment to its revolving credit facility allowing for a temporary increase in the consolidated total net leverage ratio covenant requirement from 4.50 to 5.25 for the second quarter ending December 29, 2023. 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, with a syndicate of commercial banks and Bank of America, N.A acting 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 qualified in its entirety by reference to the full text of the Amendment No. 5, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 1.01
Item 2.02. Results of Operations and Financial Condition. 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. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Use of Non-GAAP Financial Measures
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation o
Aug 15, 2023
mrcy-20230815False000104952100010495212023-08-152023-08-15
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): August 15, 2023
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. 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. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Use of Non-GAAP Financial Measures
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals.
Item 2.05. Costs Associated with Exit or Disposal Activities We have initiated several immediate cost savings measures that simplify our organizational structure, facilitate clearer accountability, and align to our priorities, including: (i) embedding the 1MPACT value creation initiatives and execution into our operations; (ii) streamlining organizational structure and removing areas of redundancy between corporate and divisional organizations; and (iii) reduce selling, general, and administrative (“SG&A”) headcount and rebalancing discretionary and third-party spending to better align with our priority areas. 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 a
May 2, 2023
mrcy-20230502False000104952100010495212023-05-022023-05-0200010495212023-01-312023-01-31
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): May 2, 2023
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On May 2, 2023, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the third quarter of fiscal 2023 ended March 31, 2023. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release, dated May 2, 2023 of Mercury Systems, Inc. 99.2Earnings Presentation, dated May 2, 2023, of Mercury Systems, Inc. 104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: May 2, 2023MERCURY SYSTEMS, INC.
By: /s/ Michelle M. McCarthy Michelle M. McCarthy
Senior Vice President, Chief Accounting Officer, Chief Financial Officer (interim), and Treasurer (interim)
Exhibit No. Description
99.1 Press Release, dated May 2, 2023 of Mercury Systems, Inc.
99.2 Ear
Jan 31, 2023
mrcy-20230131False000104952100010495212023-01-312023-01-31
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): January 31, 2023
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On January 31, 2023, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the second quarter of fiscal 2023 ended December 30, 2022. The Company’s earnings release and earnings presentation are attached as exhibits 99.1 and 99.3 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.3 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Company’s Board of Directors has appointed Michelle M. McCarthy as the Company’s interim Chief Financial Officer and Treasurer effective February 17, 2023, in addition to her current duties as the Company’s Senior Vice President, Chief Accounting Officer. On January 25, 2023, Michael D. Ruppert, the Company’s Executive Vice President, Chief Financial Officer, and Treasurer informed the Company that he will be departing on February 17, 2023. The Company has initiated a search for a successor Chief Financial Officer. Mr. Ruppert’s departure is not related to any issues or disagreements on the Company’s financial statement disclosures or accounting policies or
Nov 1, 2022
mrcy-20221101False000104952100010495212022-11-012022-11-01
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): November 1, 2022
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On November 1, 2022, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the first quarter and fiscal year ended September 30, 2022. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release, dated November 1, 2022 of Mercury Systems, Inc. 99.2Earnings Presentation, dated November 1, 2022 of Mercury Systems, Inc. 104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: November 1, 2022MERCURY SYSTEMS, INC.
By: /s/ Michael D. Ruppert Michael D. Ruppert Executive Vice President, Chief Financial Officer, and Treasurer
Exhibit No. Description
99.1 Press Release, dated November 1, 2022 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated November 1, 2022 o
Aug 2, 2022
mrcy-20220802False000104952100010495212022-08-022022-08-020001049521us-gaap:CommonStockMember2022-08-022022-08-020001049521us-gaap:PreferredStockMember2022-08-022022-08-02
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): August 2, 2022
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Preferred Stock Purchase RightsN/ANasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On August 2, 2022, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the fourth quarter and fiscal year July 1, 2022. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release, dated August 2, 2022 of Mercury Systems, Inc. 99.2Earnings Presentation, dated August 2, 2022 of Mercury Systems, Inc. 104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: August 2, 2022MERCURY SYSTEMS, INC.
By: /s/ Michael D. Ruppert Michael D. Ruppert Executive Vice President, Chief Financial Officer, and Treasurer
May 3, 2022
mrcy-20220503False000104952100010495212022-05-032022-05-0300010495212022-02-012022-02-010001049521us-gaap:CommonStockMember2022-05-032022-05-030001049521us-gaap:PreferredStockMember2022-05-032022-05-03
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): May 3, 2022
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Preferred Stock Purchase RightsN/ANasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On May 3, 2022, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the third quarter of fiscal 2022 ended April 1, 2022. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release, dated May 3, 2022 of Mercury Systems, Inc. 99.2Earnings Presentation, dated May 3, 2022 of Mercury Systems, Inc. 104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: May 3, 2022MERCURY SYSTEMS, INC.
By: /s/ Michael D. Ruppert Michael D. Ruppert Executive Vice President, Chief Financial Officer, a
Feb 1, 2022
mrcy-20220201False000104952100010495212022-02-012022-02-010001049521us-gaap:CommonStockMember2022-02-012022-02-010001049521us-gaap:PreferredStockMember2022-02-012022-02-01
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): February 1, 2022
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Preferred Stock Purchase RightsN/ANasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On February 1, 2022, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the second quarter of fiscal 2022 ended December 31, 2021. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release, dated February 1, 2022 of Mercury Systems, Inc. 99.2Earnings Presentation, dated February 1, 2022 of Mercury Systems, Inc. 104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: February 1, 2022MERCURY SYSTEMS, INC.
By: /s/ Michael D. Ruppert Michael D. Ruppert Executive Vice President, Chief Financial Officer, a
Nov 2, 2021
mrcy-20211102False000104952100010495212021-11-022021-11-02
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): November 2, 2021
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On November 2, 2021, Mercury Systems, Inc. (the “Company”) issued a press release and an earnings presentation regarding its financial results for the first quarter and fiscal year ended October 1, 2021. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1Press Release, dated November 2, 2021 of Mercury Systems, Inc. 99.2Earnings Presentation, dated November 2, 2021 of Mercury Systems, Inc. 104Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: November 2, 2021MERCURY SYSTEMS, INC.
By: /s/ Michael D. Ruppert Michael D. Ruppert Executive Vice President, Chief Financial Officer, and Treasurer
Exhibit No. Description
99.1 Press Release, dated November 2, 2021 of Mercury Systems, Inc.
99.2 Earnings Presentation, dated November 2, 2021 of
Aug 3, 2021
mrcy-20210803False000104952100010495212021-08-032021-08-03
PURSUANT TO SECTION 13 OR 15(d) OF THE
Date of report (Date of earliest event reported): August 3, 2021
Mercury Systems, Inc. (Exact Name of Registrant as Specified in its Charter)
Massachusetts000-2359904-2741391 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)
50 Minuteman Road, Andover,Massachusetts01810 (Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (978) 256-1300 Not Applicable (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01
Nasdaq Global Select Market
Item 2.02. Results of Operations and Financial Condition. On August 3, 2021, 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 July 2, 2021. The Company’s press release and earnings presentation are attached as exhibits 99.1 and 99.2 to this Current Report on Form 8-K and incorporated by reference herein. Information in Item 2.02 of this Current Report on Form 8-K and the exhibits 99.1 and 99.2 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted EPS, free cash flow, organic revenue and acquired revenue, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. The Company believes these non-GAAP financial measures are useful to help investors more completely understand its past financial performance and prospects for the future. However, the presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP financial measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. Item 2.05. Costs Associated with Exit or Disposal Activities. On August 2, 2021, the Company initiated a workforce reduction of approximately 90 employees based on changes in the business environment and to align with 1MPACT, the Company’s value creation initiative, resulting in expected charges of $9.4 million in the fiscal quarter ending October 1, 2021. These charges include $5.8 million of employee separation costs and $3.6 million of third-party consulting costs. These costs will be classified as restructuring and other charges within the Company’s statement of operations and other comprehensive income for the fiscal quarter ending October 1, 2021. The Company expects approximately $14 million of savings from the workforce reduction in its fiscal year ending July 1, 2022. Cautionary Statement Regarding Forward-Looking Sta
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