Mercury Systems Reports First Quarter Results
Key Highlights
- ➤Bookings $370 million, up 48.0% year-over-year; book-to-bill reached 1.46
- ➤Backlog approached $2.1 billion, up approximately $637 million year-over-year
- ➤Revenue $253 million, up 12.4% year-over-year
- ➤Adjusted EBITDA $56 million, up 58.6% year-over-year; margin reached 22.3%
- ➤Mercury raised its fiscal 2027 outlook after strong first-quarter execution
Expert Statements
Bill Ballhaus, Chairman and CEO of Mercury Systems
“We delivered strong first quarter fiscal 2027 results, with record first quarter bookings, revenue, and adjusted EBITDA, and record backlog. Our first quarter results reflect robust organic growth and margins that are in-line with our target profile. Based on this solid execution, we are raising our outlook for fiscal year 2027.”
Bill Ballhaus, Chairman and CEO of Mercury Systems
“In the first quarter we delivered bookings of $370 million, up 48% year-over-year, expanding our backlog to $2.1 billion and next-12-month backlog to over $1 billion; revenue of $253 million, up 12.4% year-over-year; GAAP net income of $13 million; adjusted EBITDA of $56 million, up 58.6% year-over-year; adjusted EBITDA margin of 22.3%; cash flows used in operating activities of $14 million; free cash out flow of $24 million; and net debt of $232 million, down 19% year-over-year.”
* Record Q1 FY27 Bookings of $370 million grew 48.0% year-over-year; book-to-bill of 1.46 * Record Backlog approaching $2.1 billion; up 44.7% year-over-year * Record Q1 FY27 Revenue of approximately $253 million; up 12.4% year-over-year * GAAP net income of $13 million; record Q1 adjusted EBITDA of $56 million grew 58.6% year-over-year; and adjusted EBITDA margin of 22.3% * Dave Farnsworth's title changed to Chief Financial Officer and Chief Operating Officer ANDOVER, Mass., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), reported operating results for the first quarter of fiscal year 2027, ended October 2, 2026.
“We delivered strong first quarter fiscal 2027 results, with record first quarter bookings, revenue, and adjusted EBITDA, and record backlog," said Bill Ballhaus, Mercury’s Chairman and CEO. “Our first quarter results reflect robust organic growth and margins that are in-line with our target profile. Based on this solid execution, we are raising our outlook for fiscal year 2027."
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