MRCY on Nasdaq

Mercury Systems

Logo: mrcy.com4

Defense-related information technology company based in Andover, founded in 19811

In its 2026 annual report the company says: “Mercury Systems is a global leader in aerospace and defense electronics, providing breakthrough capabilities in signal and data processing. We are headquartered in Andover, Massachusetts, and have multiple locations worldwide. Our end-to-end processing ecosystem, the Mercury Processing Platform, is built on technologies we have developed and acquired over 40 years.”7 Its shares trade on Nasdaq under the symbol MRCY.1

Price unavailable

Last updated Oct 21, 2026.

Overview

$983.6MRevenue, fiscal 20265
-$29.7MNet income, fiscal 20265
1981Founded1

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  • TickerMRCY on Nasdaq1
  • Industryaerospace industry1
  • HeadquartersAndover1
  • Websitemrcy.com
  • Incorporated inMA6
  • Business address50 Minuteman Road, Andover, Ma 018106
  • Filer categoryLarge accelerated filer6
  • Legal formDomestic Business Corporation3
  • LEI549300P3B84SGK7HH6793
  • StatusActive3
  • LEI statusIssued and current3
  • Registered addressC/O C T CORPORATION SYSTEM, 02110 Boston, United States3
  • Registered withCorporations Division (Secretary of the Commonwealth's Office), 0427413913
Mercury Systems image from its website
Image: mrcy.com4

Mercury Systems is a global leader in aerospace and defense electronics, providing breakthrough capabilities in signal and data processing. With a four-decade legacy of innovation that spans silicon to systems and radio frequency (“RF”) front ends to effectors, we accelerate commercial technology adoption to deliver powerful and secure mission-critical processing solutions to the edge. We are headquartered in Andover, Massachusetts, and have multiple locations worldwide. Our end-to-end processing ecosystem, the Mercury Processing Platform, is built on technologies we have developed and acquired over 40 years. Our technologies are available as standard products or custom solutions from silicon to system scale to ensure interoperability, reduced complexity, optimized performance and speed development.7 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

28.6%Gross margin5
0.0%Operating margin5
-3.0%Net margin5
7.9%Revenue growth, 20265
-2.0%Return on equity5
$68.1MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Integrated Subsystems brought in 21% of the revenue Mercury Systems broke down this way in fiscal 2026.

  1. Integrated Subsystems$488.9M521%up 3% from 2025
  2. Airborne$372.5M516%down 9% from 2025
  3. Modules and Sub-assemblies$289.6M512%up 18% from 2025
  4. Land$219.9M59%up 32% from 2025
  5. Components$205.1M59%up 8% from 2025
  6. Product and Service, Other$202.5M59%up 5% from 2025
  7. Other Sensor And Effector Applications$145.7M56%up 47% from 2025
  8. Other End User Applications$136.1M56%down 8% from 2025
  9. Electronic Warfare End User Applications$113.3M55%up 17% from 2025
  10. Naval$110.6M55%up 27% from 2025
  11. Space$78.0M53%up 39% from 2025
Products and services by year
Products and services202420252026
Integrated Subsystems$457.2M$475.9M$488.9M
Airborne$431.3M$410.7M$372.5M
Modules and Sub-assemblies$185.6M$246.1M$289.6M
Land$115.8M$166.2M$219.9M
Components$192.5M$190.0M$205.1M
Product and Service, Other$148.7M$192.2M$202.5M
Other Sensor And Effector Applications$129.0M$98.8M$145.7M
Other End User Applications$113.9M$148.4M$136.1M
Electronic Warfare End User Applications$107.2M$96.9M$113.3M
Naval$79.0M$86.9M$110.6M
Space$60.5M$56.0M$78.0M

Regions

United States brought in 86% of the revenue Mercury Systems broke down this way in fiscal 2026.

  1. United States$843.7M586%up 13% from 2025
  2. Outside the United States$140.0M514%down 16% from 2025
Regions by year
Regions202420252026
United States$704.1M$746.3M$843.7M
Outside the United States$131.2M$165.7M$140.0M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue71¢$702.5M
  • Research and development6¢$59.7M
  • Selling, general and admin18¢$175.0M
  • Other costs2¢$16.0M
  • Interest3¢$29.6M
  • Income tax0¢$784.0K

Out of $983.6M in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2026

  • Capital spending34¢$34.3M
  • Share buybacks15¢$15.0M
  • Kept or used elsewhere52¢$53.1M

Out of $102.4M of cash from operations.5

Financial statements

Revenue891011125$983.6M in 2026+50% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $654.7M$654.7M20192020: $796.6M$796.6M2020+22%2021: $924.0M$924.0M2021+16%2022: $988.2M$988.2M2022+7%2023: $973.9M$973.9M2023−1%2024: $835.3M$835.3M2024−14%2025: $912.0M$912.0M2025+9%2026: $983.6M$983.6M2026+8%
Gross profit891011125$281.2M in 2026−2% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $286.2M$286.2M20192020: $356.8M$356.8M2020+25%2021: $385.2M$385.2M2021+8%2022: $395.0M$395.0M2022+3%2023: $316.7M$316.7M2023−20%2024: $195.9M$195.9M2024−38%2025: $254.5M$254.5M2025+30%2026: $281.2M$281.2M2026+10%
Operating income891011125$280.0K in 2026−100% since 2019
-$200.0M-$100.0M0$100.0M2019: $76.6M$76.6M20192020: $91.1M$91.1M2020+19%2021: $81.0M$81.0M2021−11%2022: $31.6M$31.6M2022−61%2023: -$21.7M-$21.7M20232024: -$147.8M-$147.8M2024+581%2025: -$19.6M-$19.6M2025−87%2026: $280.0K$280.0K2026
Net income891011125-$29.7M in 2026
-$200.0M-$100.0M0$100.0M2019: $46.8M$46.8M20192020: $85.7M$85.7M2020+83%2021: $62.0M$62.0M2021−28%2022: $11.3M$11.3M2022−82%2023: -$28.3M-$28.3M20232024: -$137.6M-$137.6M2024+386%2025: -$37.9M-$37.9M2025−72%2026: -$29.7M-$29.7M2026−22%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2026-06-302025-06-302024-06-30
Net revenues$983.6M$912.0M$835.3M
Cost of revenues$702.5M$657.5M$639.4M
Gross margin$281.2M$254.5M$195.9M
Selling, general and administrative$175.0M$154.4M$166.8M
Research and development$59.7M$67.6M$101.3M
Amortization of intangible assets$38.9M$42.8M$47.7M
Restructuring and other charges$5.9M$7.2M$26.2M
Acquisition costs and other related expenses$1.3M$2.0M$1.7M
Total operating expenses$280.9M$274.1M$343.7M
Income (loss) from operations$280.0K-$19.6M-$147.8M
Interest income$7.7M$3.6M$1.2M
Interest expense-$29.6M-$33.4M-$35.0M
Other expense, net-$7.3M-$974.0K-$7.7M
Loss before income taxes-$28.9M-$50.4M-$189.3M
Income tax expense (benefit)$784.0K-$12.5M-$51.6M
Net loss-$29.7M-$37.9M-$137.6M
Basic net (loss) earnings per share (in dollars per share)-$0.50-$0.65-$2.38
Diluted net (loss) earnings per share (in dollars per share)-$0.50-$0.65-$2.38
Basic (in shares)59.5M shares58.7M shares57.7M shares
Diluted (in shares)59.5M shares58.7M shares57.7M shares
Change in fair value of derivative instruments, net of tax$134.0K-$4.7M-$833.0K
Foreign currency translation adjustments, net of tax$8.6M-$20.0K$380.0K
Deferred compensation and pension benefit plan, net of tax-$984.0K-$1.8M-$1.4M
Total other comprehensive income (loss), net of tax$7.7M-$6.5M-$1.8M
Total comprehensive loss-$21.9M-$44.4M-$139.5M

Compare Mercury Systems with another company

Corporate structure

Mercury Systems sits at the top of its group. 2 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Mercury Systems

  • Mercury Systems Andover, Massachusetts, United States
    • Mercury Mission Systems International SA Subsidiary · Grand-Lancy, Switzerland

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Mercury Systems reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$453.6M5 Jul 3, 2026$415.2M5 Jun 27, 2025+9.2%
Accumulated depreciation$345.2M5 Jul 3, 2026$313.8M5 Jun 27, 2025+10.0%
Property and equipment, net$108.4M5 Jul 3, 2026$101.4M5 Jun 27, 2025+6.9%
Operating-lease assets (leased space)$47.7M5 Jul 3, 2026$52.3M5 Jun 27, 2025−8.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$214.3M5 Jul 3, 2026$309.1M5 Jun 27, 2025−30.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$942.4M5 Jul 3, 2026$938.1M5 Jun 27, 2025+0.5%
Intangible assets, net (excluding goodwill)$175.8M5 Jul 3, 2026$210.6M5 Jun 27, 2025−16.5%
Finite-lived intangibles, gross$439.3M5 Jul 3, 2026$469.9M5 Jun 27, 2025−6.5%
Accumulated amortization$263.5M5 Jul 3, 2026$259.2M5 Jun 27, 2025+1.6%
Finite-lived intangibles, net$175.8M5 Jul 3, 2026$210.6M5 Jun 27, 2025−16.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$367.0M5 Jul 3, 2026$332.9M5 Jun 27, 2025+10.2%
Raw materials$210.5M5 Jul 3, 2026$195.5M5 Jun 27, 2025+7.7%
Work in process$134.6M5 Jul 3, 2026$118.4M5 Jun 27, 2025+13.7%
Finished goods$21.8M5 Jul 3, 2026$19.0M5 Jun 27, 2025+14.6%

Properties, in its own words

The following table sets forth our significant properties as of July 3, 2026:

Location · Size inSq. Feet · Commitment

The rest of Item 2

Andover, MA · 145,262 · Leased, expiring 2032

Phoenix, AZ · 125,756 · Leased, expiring 2033

Hudson, NH · 121,553 · Leased, expiring 2030

Oxnard, CA · 72,673 · Leased, expiring 2028

Torrance, CA · 58,405 · Leased, expiring 2029

Gulf Breeze, FL · 44,329 · Leased, expiring 2031

Cypress, CA · 42,770 · Leased, expiring 2028

Upper Saddle River, NJ · 36,223 · Leased, expiring 2027

Alpharetta, GA · 35,005 · Leased, expiring 2028

Chantilly, VA · 32,789 · Leased, expiring 2028

Torrance, CA · 27,230 · Leased, expiring 2029

Huntsville, AL · 26,900 · Leased, expiring 2031

We actively manage our facilities and are in pursuit of lease extensions or alternative locations for facilities with expiration dates in the next one to two years. In addition, we lease a number of smaller offices around the world primarily for sales and administrative purposes. See Note B and Note I to the consolidated financial statements for more information regarding our obligations under leases.

Item 2 of the 10-K filed Aug 18, 2026.7

Leadership

Who has led Mercury Systems, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (49)

Former names

  • MERCURY COMPUTER SYSTEMS INCNov 26, 1997 to Nov 13, 20126

Timeline

  1. Sep 18, 20268-K Other events78
  2. Sep 16, 20268-K Entered a material agreement; Regulation FD disclosure79
  3. Aug 18, 20268-K Results of operations80
  4. May 5, 20268-K Results of operations81
  5. Feb 3, 20268-K Results of operations82
  6. Nov 4, 20258-K Entered a material agreement; Results of operations; New debt or obligation83
  7. Oct 28, 20258-K Executive or director change; Shareholder vote; Other events84
  8. Aug 11, 20258-K Results of operations85
  9. May 6, 20258-K Results of operations86
  10. Apr 1, 20258-K Results of operations; Executive or director change87
  11. Feb 4, 20258-K Results of operations; Exit or restructuring costs88
  12. Jan 6, 20258-K Executive or director change; Regulation FD disclosure89
  13. Aug 21, 2023New chief executive William L. Ballhaus becomes CEO17
  14. Nov 26, 2007New chief executive Mark Aslett becomes CEO18
  15. Feb 23, 2006New chief executive James R. Bertelli becomes CEO19
  16. Jan 30, 1998Went public Listed on NASDAQ1
  17. 1981Founded Founded1

Calendar

Coming up

  1. Nov 10, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.05 a share, on Nov 4, 2025.90

When it reported results

  1. Aug 18, 2026Reported quarterly or annual results80
  2. May 5, 2026Reported quarterly or annual results81
  3. Feb 3, 2026Reported quarterly or annual results82
  4. Nov 4, 2025Reported quarterly or annual results83
  5. Aug 11, 2025Reported quarterly or annual results85
  6. May 6, 2025Reported quarterly or annual results86
  7. Apr 1, 2025Reported quarterly or annual results87
  8. Feb 4, 2025Reported quarterly or annual results88

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

490 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 46 major events, 245 insider forms, 42 large holders, 137 other. The latest 20:

  1. Sep 23, 20264 PRIMARY DOCUMENT EDGAR
  2. Sep 21, 2026144 EDGAR
  3. Sep 18, 20268-K EDGAR
  4. Sep 17, 2026ARS EDGAR
  5. Sep 17, 2026DEF 14A EDGAR
  6. Sep 16, 20268-K EDGAR
  7. Sep 15, 20264/A PRIMARY DOCUMENT EDGAR
  8. Sep 15, 20264/A PRIMARY DOCUMENT EDGAR
  9. Sep 15, 20264/A PRIMARY DOCUMENT EDGAR
  10. Sep 15, 20264/A PRIMARY DOCUMENT EDGAR
  11. Sep 15, 20264/A PRIMARY DOCUMENT EDGAR
  12. Sep 8, 20264 PRIMARY DOCUMENT EDGAR
  13. Sep 3, 2026144 EDGAR
  14. Aug 27, 20264 PRIMARY DOCUMENT EDGAR
  15. Aug 26, 2026144 EDGAR
  16. Aug 25, 2026144 EDGAR
  17. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  18. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  19. Aug 25, 20264 PRIMARY DOCUMENT EDGAR
  20. Aug 24, 2026144 EDGAR

The 490 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

159 open-market trades by officers, directors and large owners since October 2021: 22 buys and 137 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 21, 2026KUPINSKY STUARTEVP, CLO & Corp SecSale1,000$86.52$86.5KForm 4
Sep 3, 2026Ratner StevenEVP, CHROSale4,000$84.51$338.0KForm 4
Aug 26, 2026Ballhaus William LChairman, President & CEOSale49,090$89.09$4.4MForm 4
Aug 25, 2026Ballhaus William LChairman, President & CEOSale111,076$87.12$9.7MForm 4
Aug 24, 2026Ballhaus William LChairman, President & CEOSale108,209$89.50$9.7MForm 4
Aug 21, 2026Ratner StevenEVP, CHROSale356$91.36$32.5KForm 4
Aug 21, 2026KUPINSKY STUARTEVP, CLO & Corp SecSale1,000$95.23$95.2KForm 4
Aug 21, 2026Ballhaus William LChairman, President & CEOSale65,000$92.40$6.0MForm 4
Aug 20, 2026Munro DouglasSVP, CAOSale109$97.67$10.6KForm 4
Aug 20, 2026Ratner StevenEVP, CHROSale1,026$97.67$100.2KForm 4
Aug 20, 2026Farnsworth David E.EVP, CFOSale6,612$97.67$645.8KForm 4
Aug 20, 2026Ballhaus William LChairman, President & CEOSale22,010$97.67$2.1MForm 4
Aug 19, 2026Munro DouglasSVP, CAOSale548$100.31$55.0KForm 4
Aug 19, 2026Ratner StevenEVP, CHROSale2,187$100.31$219.4KForm 4
Aug 19, 2026KUPINSKY STUARTEVP, CLO & Corp SecSale1,308$100.31$131.2KForm 4
Aug 19, 2026Farnsworth David E.EVP, CFOSale8,155$100.31$818.0KForm 4
Aug 19, 2026Ballhaus William LChairman, President & CEOSale26,802$100.31$2.7MForm 4
Aug 18, 2026Munro DouglasSVP, CAOSale494$111.36$55.0KForm 4
Aug 18, 2026Ratner StevenEVP, CHROSale1,971$111.36$219.5KForm 4
Aug 18, 2026KUPINSKY STUARTEVP, CLO & Corp SecSale1,178$111.36$131.2KForm 4

All 159 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026William L. BallhausChairman, President and Chief Executive Officer59$1.0M$11.1M102
2026David E. FarnsworthEVP and Chief Financial Officer66$495.6K$3.3M102
2026Stuart H. KupinskyEVP, Chief Legal Officer and Corporate Secretary58$493.8K$2.7M102
2026Steven V. Ratner EVP and Chief Human Resources Officer$480.4K$2.6M102
2025William L. BallhausChairman, President and Chief Executive Officer59$974.1K$10.2M102
2025David E. FarnsworthEVP and Chief Financial Officer66$459.9K$4.2M102
2025Stuart H. KupinskyEVP, Chief Legal Officer and Corporate Secretary58$459.9K$2.5M102
2025Steven V. Ratner EVP and Chief Human Resources Officer$447.3K$2.4M102
2024William L. BallhausChairman, President and Chief Executive Officer59$913.5K$22.4M102
2024David E. FarnsworthEVP and Chief Financial Officer66$415.4K$5.5M102
2024Stuart H. KupinskyEVP, Chief Legal Officer and Corporate Secretary58$173.1K$1.8M102
2024Steven V. Ratner EVP and Chief Human Resources Officer$434.3K$1.4M102

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$532.7M 2008–2026
Figures by year
YearFederal contractsTotal
2026$19.2M$19.2M
2025$25.7M$25.7M
2024$32.6M$32.6M
2023$22.9M$22.9M
2022$20.5M$20.5M
2021$57.1M$57.1M
2020$53.9M$53.9M
2019$79.9M$79.9M
2018$48.4M$48.4M
2017$21.0M$21.0M
2016$41.4M$41.4M
2015$17.9M$17.9M
2014$11.9M$11.9M
2013$10.4M$10.4M
2012$11.0M$11.0M
2011$15.0M$15.0M
2010$21.5M$21.5M
2009$7.3M$7.3M
2008$14.9M$14.9M

Federal awards

Obligated amounts from USAspending.gov103, by calendar year, 2008–2026, for 15 registered units, including subsidiaries under the same parent. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest contracts

  1. Jun 27, 2018$22.4M from Department of the Navy: Advance drfm receiver systems,sbir phase iii, igf::ot::igf104 To MERCURY DEFENSE SYSTEMS, INC. Award N6833518F0093
  2. Apr 4, 2016$15.4M from Department of the Navy: P/n 1593-20-002-5 and p/n 1593-20-002-7 "igf::ot::igf"105 To MERCURY DEFENSE SYSTEMS, INC. Award 0005
  3. Sep 24, 2019$13.7M from Department of the Navy: Advanced drfm receiver system106 To MERCURY DEFENSE SYSTEMS, INC. Award N6833519F0285
  4. May 16, 2019$11.9M from Department of the Navy: Advanced drfm receiver system107 To MERCURY DEFENSE SYSTEMS, INC. Award N6833519F0051
  5. Jun 30, 2021$11.8M from Department of the Navy: Advanced drfm receiver system108 To MERCURY DEFENSE SYSTEMS, INC. Award N6833521F0130

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.9,370,902$1.1B0.0%+450,577
JANA Partners Management, LP3,958,849$484.3M25.5%−148,575
State Street Corp3,418,290$418.0M0.0%−447,429
Vanguard Portfolio Management LLC3,031,459$370.8M0.0%+120,555
Invesco Ltd.2,669,450$326.6M0.0%+227,872
Vanguard Capital Management LLC2,422,629$296.4M0.0%+18,811
Fmr LLC1,842,103$225.3M0.0%+938,435
Goldman Sachs Group Inc1,575,727$192.8M0.0%+374,615
Conestoga Capital Advisors, LLC1,487,191$181.9M4.0%−431,400
Geode Capital Management, LLC1,459,574$178.6M0.0%−66,142
First Trust Advisors LP1,298,957$158.9M0.1%+138,182
Dimensional Fund Advisors LP1,156,682$141.4M0.0%−71,293
Segall Bryant & Hamill, LLC1,029,491$125.9M1.5%+94,667
Fisher Asset Management, LLC944,069$115.5M0.0%−36,298
Franklin Resources Inc846,732$103.6M0.0%+393,099
Neuberger Berman Group LLC841,556$102.1M0.1%−68,862
Morgan Stanley811,565$99.3M0.0%+140,234
Wellington Management Group Llp775,502$94.9M0.0%+19,977
Van Eck Associates Corp762,994$93.3M0.1%−88,151
Raymond James Financial Inc748,808$91.6M0.0%−45,221
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.715,977$87.6M0.1%−143,470
Loomis Sayles & Co L P681,142$83.3M0.1%+35,210
American Century Companies Inc664,960$81.3M0.0%+82,065
Emerald Advisers, LLC638,682$78.1M1.8%+43,368
Charles Schwab Investment Management Inc627,581$76.8M0.0%−8,389

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Mercury Systems is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMERCURY SYSTEMS INC2
  • CIK0001049521
  • Employer ID (EIN)04-27413917
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company7
  • Incorporated inMassachusetts7
  • Fiscal year endsJune 302
  • Industry code (SIC)3670 Electronic Components & Accessories2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business address50 Minuteman Road, Andover, MA 018102
  • Phone97825613002
  • Shares outstanding60,136,133 shares as of Jul 31, 20267
  • Public float$4.5B as of Dec 26, 20257
  • AuditorKPMG LLP, Boston, MA PCAOB ID 185; it also attests to the company’s internal control over financial reporting7
  • On EDGAR sinceNov 26, 19972
  • Filings1,904 in all: 4 (865), 8-K (334), 144 (110), SC 13G/A (98), 10-Q (86), 3 (63), SC 13G (48), S-8 (35)2
    All 48 form types

    10-K (29), 4/A (29), DEF 14A (29), UPLOAD (20), S-8 POS (18), ARS (15), SD (13), CORRESP (11), SC TO-C (8), SCHEDULE 13G/A (7), 424B5 (6), 8-K/A (6), SC 13D/A (6), 5 (5), PRE 14A (5), SC TO-I/A (5), EFFECT (4), S-3 (4), SCHEDULE 13G (4), 10-K/A (3), 424B3 (3), S-1/A (3), S-3ASR (3), SC 13D (3), SCHEDULE 13D/A (3), 10-Q/A (2), 3/A (2), 424B2 (2), 8-A12G (2), DEFA14A (2), DEFR14A (2), DEFS14A (2), SC TO-I (2), 424B4 (1), 8-A12B (1), 8-A12B/A (1), 8-A12G/A (1), NO ACT (1), POS AM (1), S-1 (1)

  • Latest filingsAnnual report (10-K) Aug 18, 2026
    Quarterly report (10-Q) May 5, 2026
    Proxy statement (DEF 14A) Sep 17, 2026
    Latest 8-K (8-K) Sep 18, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, Par Value $0.01 Per ShareMRCYNasdaq Global Select Market

From the cover page of the 10-K filed Aug 18, 2026 (Section 12(b) of the Exchange Act).7

Risk factors and legal proceedings

The risks Mercury Systems names in Item 1A of its 10-K filed Aug 18, 2026: 34 risks under these headings, as written.7

  • Risks Related to Business Operations and Our Industry
  • We may be unable to increase production to satisfy the increasing demand for our products.
  • We depend heavily on defense electronics programs that incorporate our products and services, which may be only partially funded and are subject to potential termination and reductions and delays in government spending.
  • Economic, capital market and political conditions could adversely affect our business, results of operations and financial condition.
  • Price inflation for labor and materials could adversely affect our business, results of operations and financial condition.
  • The loss of one or more of our largest customers or programs could adversely affect our results of operations.
  • Ineffective inventory management may lead to excess or obsolete stock, higher costs, operational disruptions or inaccurate valuation.
  • Failure to respond to competition or evolving technology could lead to customer loss and missed business opportunities. The emergence of commodity-type substitutes may cause customers to delay purchases or seek alternatives.
  • Competition from existing or new companies could cause us to experience downward pressure on prices, fewer customer orders, reduced margins, the inability to take advantage of new business opportunities and the loss of market share.
  • We may be unable to obtain critical components from suppliers, which could disrupt or delay our ability to deliver products to our customers.
  • Price escalation for semiconductor and memory components may adversely affect our profitability.
  • Trade policies and export controls could significantly increase our manufacturing costs, reduce gross margins and disrupt demand for our products.
The other 23 risks
  • We may not be able to effectively manage our relationships with contract manufacturers.
  • We are exposed to risks associated with international operations and markets.
  • Our need for continued or increased investment in R&D may increase expenses and reduce our profitability.
  • Our results of operations are subject to fluctuation from period to period and may not be an accurate indication of future performance.
  • We rely on the significant experience and specialized expertise of our senior management, engineering and operational staff and must retain and attract qualified and highly skilled personnel to grow our business successfully.
  • If we experience a disaster or other business continuity problem, we may not be able to recover successfully, which could cause material financial loss, loss of human capital, regulatory actions, reputational harm or legal liability.
  • Our insurance coverage, customer indemnifications or other liability protections may be inadequate to cover our significant business risks, which could have a material adverse effect on our financial position.
  • Risk Related to Artificial Intelligence Technologies and Agentic AI
  • Our use of AI tools in our internal operations and product‑development processes, as well as the integration of customer‑directed AI capabilities into the hardware and software we provide, exposes us to evolving technical, cybersecurity, regulatory and operational risks that could adversely affect our business, financial condition and results of operations.
  • Risks Related to Our Growth Strategy, M&A and Acquisition Integration
  • Implementation of our growth strategy may not be successful, which could affect our ability to increase revenues and profits.
  • Acquisitions may adversely affect our financial condition.
  • We may incur substantial indebtedness.
  • We have a significant amount of goodwill and intangible assets on our consolidated financial statements that are subject to impairment based upon future adverse changes in our business or prospects.
  • Risks Related to Legal, Regulatory and Compliance Matters
  • We face risks and uncertainties associated with defense-related contracts
  • Our products are complex, and undetected defects may increase our costs, harm our reputation with customers or lead to costly litigation.
  • Risks Related to Information Technology and Intellectual Property
  • We may need to invest in new information technology systems and infrastructure to scale our operations.
  • If we suffer ransomware breaches, data breaches, or phishing diversions involving the designs, schematics or source code for our products or other sensitive information, our business and financial results could be adversely affected.
  • We may be unsuccessful in protecting our intellectual property rights which could result in the loss of a competitive advantage. If we become subject to intellectual property infringement claims, we could incur significant expenses and could be prevented from selling specific products.
  • The unauthorized disclosure of our trade secrets could harm our business.
  • Risks Related to Our Common Stock
  • The trading price of our common stock may continue to be volatile, which may adversely affect our business, and investors in our common stock may experience substantial losses.
  • We have never paid cash dividends on our common stock and we do not anticipate paying any dividends in the foreseeable future.
  • We may need additional capital and may not be able to raise funds on acceptable terms, if at all. In addition, any funding through the sale of additional common stock or other equity securities could result in additional dilution to our stockholders and any funding through indebtedness could restrict our operations.
  • Provisions in our organizational documents and Massachusetts law and other actions we have taken could make it more difficult for a third party to acquire us.
  • Shareholder activism could cause us to incur significant expense, disrupt our business, result in a proxy contest or litigation and impact our stock price.

Legal proceedings

We are subject to litigation, claims, investigations and audits arising from time to time in the ordinary course of our business. Although legal proceedings are inherently unpredictable, we believe that we have valid defenses with respect to those matters currently pending against us and intend to defend ourself vigorously. The outcome of these matters, individually and in the aggregate, is not expected to have a material impact on our cash flows, results of operations, or financial position. Please see Note K to our consolidated financial statements (under the caption "Legal Claims") for a discussion of our legal proceedings.

The opening of Item 3, Legal Proceedings.7

Sources

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