Quarterly ResultMay 5, 2026, 04:08 PM
Mercury Systems Q3 Bookings $348M, Revenue $236M, Adj. EBITDA $36M
AI Summary
Mercury Systems reported third quarter fiscal 2026 results ahead of expectations, driven by record bookings and strong organic growth. The company achieved $348 million in bookings, a 1.48 book-to-bill ratio, and $236 million in revenue, up 11.5% organically year-over-year. Adjusted EBITDA increased 46.2% to $36 million, with a GAAP net loss of $3 million. The company also raised its full-year FY26 revenue and adjusted EBITDA margin outlook.
Key Highlights
- Record Q3 FY26 Bookings of $348 million, up 73.7% year-over-year, with a 1.48 book-to-bill ratio.
- Record backlog of approximately $1.6 billion, an 18% increase year-over-year.
- Q3 FY26 Revenue of $236 million, up 11.5% organically year-over-year.
- GAAP Net Loss for Q3 FY26 was $3 million ($0.04 per share), improving from $19 million ($0.33 per share) in Q3 FY25.
- Adjusted EBITDA for Q3 FY26 was $36 million, up 46.2% year-over-year, achieving a 15.3% margin.
- Adjusted EPS for Q3 FY26 was $0.27 per share, a 350% increase from $0.06 per share in Q3 FY25.
- Free cash flow for Q3 FY26 was $(2) million, compared to $24 million in Q3 FY25.
- Full year FY26 outlook raised for revenue growth approaching mid single-digits and adjusted EBITDA margin of mid-teens.