Mercury Systems Inc. (MRCY) Financials
Key financial figures for Mercury Systems Inc. (Q4 2026).
Mercury Systems posted record Q4 FY2026 bookings of $660 million (up 93.1% YoY) and record revenue of approximately $290 million (up 6.1% YoY), but shares fell after the print despite the beat. Revenue reached a record $290 million for the quarter, up 6.1% year-over-year, driven by a surge in defense orders. Bookings hit a record $660 million, up 93.1% YoY, producing a book-to-bill ratio of 2.28 for the quarter and pushing total backlog to over $1.9 billion (up 38.4% YoY, with $1.0 billion expected to convert to revenue within 12 months). GAAP net income was $1 million (diluted EPS of $0.01), a smaller profit than the prior-year quarter; adjusted EBITDA was $49 million (16.7% margin), the highest quarterly margin of the fiscal year. On the outlook: Management guided fiscal 2027 revenue to approach $1.1 billion and adjusted EBITDA to approach $200 million with margins in the high teens, alongside a longer-term target of low-double-digit organic revenue growth, low-to-mid-20s adjusted EBITDA margin, and 50% free cash flow conversion by the end of fiscal 2027 (per earnings call commentary reported by multiple outlets; not stated as precise figures in the 8-K press release itself). Figures are for Q4 FY2026, as Mercury Systems Inc reported them.
- Revenue
- $290M
- Net Income
- $798K
- EPS
- $0.01
- Total Assets
- $2.3B
- Operating Cash Flow
- $42M
Recent quarters
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| Q4 FY2026 | $290M | $798K | $0.01 | 5.87% | $29M |
| Q3 FY2026 | $236M | -$3M | -$0.05 | 3.16% | -$2M |
| Q2 FY2026 | $233M | -$15M | -$0.26 | -4.65% | $43M |
| Q1 FY2026 | $225M | -$13M | -$0.21 | -3.82% | -$4M |
| Q4 FY2025 | $273M | $16M | $0.28 | 8.62% | $34M |
Recent fiscal years
| Period | Revenue | Net Income | EPS | Operating Margin | Free Cash Flow |
|---|---|---|---|---|---|
| FY2026 | $984M | -$30M | -$0.50 | 2.13% | $68M |
| FY2025 | $912M | -$38M | -$0.65 | -2.15% | $119M |
| FY2024 | $835M | -$138M | -$2.38 | -17.69% | $119M |
Frequently asked questions
What was Mercury Systems Inc's revenue last quarter?
Mercury Systems Inc reported revenue of $289.8 million for Q4 FY2026, up 6.1% from the same period a year earlier.
Is Mercury Systems Inc profitable?
Yes. Mercury Systems Inc reported net income of $798.0 thousand for Q4 FY2026, a net margin of 0.28% on revenue.
How has Mercury Systems Inc's margin trended?
Operating margin was 5.87% in Q4 FY2026, compared with 8.62% in the same period a year earlier. The quarter by quarter series is on the SentiSense financials page.
How much free cash flow did Mercury Systems Inc generate?
Mercury Systems Inc generated free cash flow of $28.6 million in Q4 FY2026, after capital expenditure.
Full income statement, balance sheet and cash flow for Mercury Systems Inc. on SentiSense, with up to forty quarters and twenty fiscal years of history.