MERCURY SYSTEMS INC (MRCY) Form 8-K — Aug 18, 2026

$MRCYForm 8-KItems 2.02, 9.01Filed Aug 18, 2026, 4:01 PM ET0001049521-26-000043Original filing

Mercury Systems (MRCY) reported fourth quarter and fiscal 2026 results on August 18, 2026, headlined by record Q4 bookings of $660 million, up 93.1% year-over-year, a 2.28 book-to-bill, and record backlog of over $1.9 billion, up 38.4% year-over-year. Q4 revenue hit a record $290 million, up 6.1% year-over-year, with GAAP net income of $1 million, adjusted EBITDA of $49 million (16.7% margin), and adjusted EPS of $0.37 versus $0.47 a year ago; full-year FY26 revenue was $984 million with a GAAP net loss of $30 million.

Key figures

Eps: $0.01 GAAP Q4 FY26 (vs $0.27 PY); $0.37 adjusted Q4 FY26 (vs $0.47 PY); $(0.50) GAAP FY26; $1.06 adjusted FY26
Revenue: $290 million Q4 FY26 (record, +6.1% YoY); $984 million FY26 (+7.9% organic)
Guidance: FY27: revenue approaching $1.1B; adjusted EBITDA approaching $200M (nearly 30% YoY growth); high-teens adjusted EBITDA margin; free cash flow conversion approaching 35% (below 50% target); targeted organic revenue growth raised to low double digits; Q1 FY27 expected lowest revenue quarter, up high single digits YoY
Net Income: $1 million GAAP net income Q4 FY26; $30 million GAAP net loss FY26 (vs $38 million loss FY25)
Total Debt: $441.5 million long-term debt (down from $591.5 million after $150 million credit facility repayment)
Total Assets: $2,322.8 million
Cash Position: $214.3 million
Net debt usd m: 227
Backlog yoy pct: 38.4
Book to bill q4: 2.28
Book to bill fy26: 1.57
Q4 bookings usd m: 659.6
Q4 bookings yoy pct: 93.1
Fy26 bookings yoy pct: 49.8
Free cash flow q4 usd m: 28.6
Adjusted ebitda q4 usd m: 48.5
Free cash flow fy26 usd m: 68.1
Adjusted ebitda fy26 usd m: 150.2
Twelve month backlog usd m: 996
Adjusted ebitda margin q4 pct: 16.7
Operating cash flow fy26 usd m: 102.4
Adjusted ebitda margin fy26 pct: 15.3

Price after filing

1 day: +2.0%7 days: -21.0%30 days: -22.4%

Close on the filing date to close N calendar days later (from $111.12). Historical, not a forecast.

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