Mercury Systems Reports Third Quarter Fiscal 2026 Results

Mercury Systems reported third quarter fiscal 2026 results ahead of expectations, the CEO said, driven by record bookings of $348 million, a 1.48 book-to-bill, and a record backlog of about $1.6 billion. Revenue rose 11.5% year over year to $236 million. The company posted a GAAP net loss of $3 million, compared to $19 million a year earlier, while adjusted EBITDA climbed to $36 million with a 15.3% margin and adjusted EPS reached $0.27. Operating cash flow was $6 million and free cash flow was negative $2 million. Management will discuss results May 5 at 5 p.m. ET.