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Mercury Systems MRCY Integrated Subsystems — Net revenues

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Other financials

Income statement

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Revenue$235.8M+11.5%
Gross profit$69.1M+20.9%
Operating income$5.2M+130%
Net income-$2.9M+85.1%
EPS (diluted)-$0.04+87.9%

Balance sheet

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Cash & equivalents$331.8M+23.0%
Total debt$639.8M-1.1%
Total equity$1.5B+1.8%
Total assets$2.5B+2.8%

Cash flow

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Operating cash flow$6.4M-78.5%
CapEx$8.3M+39.7%
Free cash flow$45.7M-44.2%

Valuation

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Market cap$6.45B+100%
Enterprise value$6.76B+89.4%
P/S6.7×+3.1×

Profitability

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Gross margin28.7%+1.3pp
Operating margin-5.8%-2.3pp
Net margin-7.3%-2.6pp
FCF margin10.5%-0.4pp

Returns & leverage

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Return on equity-4.4%-1.5pp
Debt / equity0.4×0.0×
Current ratio3.2×-0.3×

Where this comes from

Reported directly by Mercury Systems in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

The source filing: Mercury Systems’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 5:03 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q1 2026
Accession
0001049521-26-000024
Line itemThird Quarters Ended / March 27, 2026Third Quarters Ended / March 28, 2025Nine Months Ended / March 27, 2026Nine Months Ended / March 28, 2025
Components(1)$45,917$49,979$140,119$139,928
Modules and Sub-assemblies(2)75,90458,476202,596150,404
Integrated Solutions(3)113,938102,903351,125348,582
Total Net Revenue$235,759$211,358$693,840$638,914

Item 1. Consolidated Financial Statements (unaudited)

FAQ

What is Mercury Systems's integrated subsystems — net revenues?
Mercury Systems (MRCY) reported integrated subsystems — net revenues of $113.94M in Q1 2026.
How has Mercury Systems's integrated subsystems — net revenues changed year-over-year?
Mercury Systems's integrated subsystems — net revenues increased by 10.7% year-over-year, from $102.9M to $113.94M.
What is the long-term trend for Mercury Systems's integrated subsystems — net revenues?
Over 3 years (2022 to 2025), Mercury Systems's integrated subsystems — net revenues has grown at a -10.0% compound annual growth rate (CAGR), from $653.62M to $475.94M.
What does integrated subsystems — net revenues mean?
This metric represents the total revenue generated from the sale of integrated subsystem products and related services within the aerospace and defense sector. It reflects the company's ability to deliver complex, open-architecture solutions for mission-critical applications. Tracking this revenue stream provides insight into the market demand for the company's specialized hardware and software integration capabilities.

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