2023 Q4 Form 10-Q Financial Statement
#000104952123000047 Filed on November 07, 2023
Income Statement
| Concept | 2023 Q4 | 2023 Q3 |
|---|---|---|
| Revenue | $197.5M | $181.0M |
| YoY Change | -13.99% | -37.53% |
| Cost Of Revenue | $165.9M | $130.5M |
| YoY Change | 11.65% | -23.33% |
| Gross Profit | $31.52M | $50.53M |
| YoY Change | -61.07% | -57.74% |
| Gross Profit Margin | 15.96% | 27.92% |
| Selling, General & Admin | $44.47M | $35.79M |
| YoY Change | -1.3% | -18.68% |
| % of Gross Profit | 141.09% | 70.84% |
| Research & Development | $28.48M | $31.87M |
| YoY Change | 5.84% | 29.75% |
| % of Gross Profit | 90.34% | 63.08% |
| Depreciation & Amortization | $22.19M | $22.69M |
| YoY Change | -18.54% | -3.01% |
| % of Gross Profit | 70.38% | 44.91% |
| Operating Expenses | $85.45M | $90.73M |
| YoY Change | -3.46% | 9.26% |
| Operating Profit | -$53.93M | -$40.20M |
| YoY Change | 614.58% | -210.03% |
| Interest Expense | $8.674M | $7.863M |
| YoY Change | 31.62% | -423.05% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$1.148M | -$1.774M |
| YoY Change | -235.7% | -33.16% |
| Pretax Income | -$63.72M | -$49.74M |
| YoY Change | 387.51% | -320.76% |
| Income Tax | -$18.14M | -$13.03M |
| % Of Pretax Income | ||
| Net Earnings | -$45.58M | -$36.71M |
| YoY Change | 317.41% | -317.01% |
| Net Earnings / Revenue | -23.08% | -20.28% |
| Basic Earnings Per Share | -$0.79 | -$0.64 |
| Diluted Earnings Per Share | -$0.79 | -$0.64 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 59.28M shares | 58.19M shares |
| Diluted Shares Outstanding | 57.42M shares | 57.11M shares |
Balance Sheet
| Concept | 2023 Q4 | 2023 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $168.6M | $89.40M |
| YoY Change | 119.18% | 36.17% |
| Cash & Equivalents | $168.6M | $89.37M |
| Short-Term Investments | ||
| Other Short-Term Assets | $27.22M | $22.40M |
| YoY Change | -4.86% | -28.68% |
| Inventory | $354.2M | $362.9M |
| Prepaid Expenses | ||
| Receivables | $82.74M | $91.45M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $983.8M | $954.7M |
| YoY Change | 9.69% | 17.11% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $114.4M | $117.2M |
| YoY Change | -6.25% | -7.88% |
| Goodwill | $938.1M | $938.1M |
| YoY Change | 0.0% | 0.02% |
| Intangibles | $273.3M | $285.6M |
| YoY Change | -15.5% | -18.77% |
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $5.585M | $4.446M |
| YoY Change | -29.16% | -28.15% |
| Total Long-Term Assets | $1.452B | $1.446B |
| YoY Change | 0.09% | -2.89% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $983.8M | $954.7M |
| Total Long-Term Assets | $1.452B | $1.446B |
| Total Assets | $2.436B | $2.401B |
| YoY Change | 3.76% | 4.18% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $88.06M | $95.83M |
| YoY Change | 0.96% | -2.89% |
| Accrued Expenses | $31.48M | $33.66M |
| YoY Change | 4.24% | -3.7% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $225.7M | $205.3M |
| YoY Change | 12.54% | 5.87% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $616.5M | $576.5M |
| YoY Change | 20.53% | 27.69% |
| Other Long-Term Liabilities | $16.12M | $8.800M |
| YoY Change | 76.36% | -15.43% |
| Total Long-Term Liabilities | $16.12M | $8.800M |
| YoY Change | 76.36% | -15.43% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $225.7M | $205.3M |
| Total Long-Term Liabilities | $16.12M | $8.800M |
| Total Liabilities | $931.8M | $860.0M |
| YoY Change | 15.91% | 12.09% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $275.2M | $320.7M |
| YoY Change | -23.68% | -16.86% |
| Common Stock | $576.0K | $573.0K |
| YoY Change | 2.13% | 2.87% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $1.504B | $1.541B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $2.436B | $2.401B |
| YoY Change | 3.76% | 4.18% |
Cashflow Statement
| Concept | 2023 Q4 | 2023 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$45.58M | -$36.71M |
| YoY Change | 317.41% | -317.01% |
| Depreciation, Depletion And Amortization | $22.19M | $22.69M |
| YoY Change | -18.54% | -3.01% |
| Cash From Operating Activities | $45.53M | -$39.07M |
| YoY Change | 28.63% | 101.02% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $8.005M | $8.015M |
| YoY Change | -39.25% | -197.98% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% |
| Cash From Investing Activities | -$8.005M | -$8.015M |
| YoY Change | -39.0% | -4.3% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 41.22M | $65.00M |
| YoY Change | 1622.4% | 2971.83% |
| NET CHANGE | ||
| Cash From Operating Activities | 45.53M | -$39.07M |
| Cash From Investing Activities | -8.005M | -$8.015M |
| Cash From Financing Activities | 41.22M | $65.00M |
| Net Change In Cash | 78.74M | $17.81M |
| YoY Change | 219.28% | -169.3% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $45.53M | -$39.07M |
| Capital Expenditures | $8.005M | $8.015M |
| Free Cash Flow | $37.52M | -$47.08M |
| YoY Change | 68.89% | 318.33% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q3 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--06-28 | |
| CY2023Q3 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | |
| CY2023Q3 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
| CY2023Q3 | dei |
Amendment Flag
AmendmentFlag
|
false | |
| CY2023Q3 | dei |
Security12g Title
Security12gTitle
|
Common Stock, par value $0.01 per share | |
| CY2023Q3 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
| CY2023Q3 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
| CY2023Q3 | dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | |
| CY2023Q3 | dei |
Entity Small Business
EntitySmallBusiness
|
false | |
| CY2023Q3 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | |
| CY2023Q3 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
| CY2023Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
59277051 | shares |
| CY2023Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
71563000 | usd |
| CY2023Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
1335000 | usd |
| CY2023Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
124729000 | usd |
| CY2023Q3 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
388555000 | usd |
| CY2023Q3 | us-gaap |
Inventory Net
InventoryNet
|
362910000 | usd |
| CY2023Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
22422000 | usd |
| CY2023Q3 | us-gaap |
Assets Current
AssetsCurrent
|
954704000 | usd |
| CY2023Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
117174000 | usd |
| CY2023Q3 | us-gaap |
Goodwill
Goodwill
|
938093000 | usd |
| CY2023Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
285551000 | usd |
| CY2023Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
60877000 | usd |
| CY2023Q3 | us-gaap |
Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
|
39919000 | usd |
| CY2023Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
4446000 | usd |
| CY2023Q3 | us-gaap |
Assets
Assets
|
2400764000 | usd |
| CY2023Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
95825000 | usd |
| CY2023Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
33660000 | usd |
| CY2023Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
17717000 | usd |
| CY2023Q3 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
0 | usd |
| CY2023Q3 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
58116000 | usd |
| CY2023Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
205318000 | usd |
| CY2023Q3 | us-gaap |
Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
|
5166000 | usd |
| CY2023Q3 | us-gaap |
Secured Long Term Debt
SecuredLongTermDebt
|
576500000 | usd |
| CY2023Q3 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
64168000 | usd |
| CY2023Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
8800000 | usd |
| CY2023Q3 | us-gaap |
Liabilities
Liabilities
|
859952000 | usd |
| CY2023Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2023Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2023Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
| CY2023Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2023Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2023Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | usd |
| CY2023Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
85000000 | shares |
| CY2023Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
57273559 | shares |
| CY2023Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
573000 | usd |
| CY2023Q3 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
1205573000 | usd |
| CY2023Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
320731000 | usd |
| CY2023Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
13935000 | usd |
| CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1540812000 | usd |
| CY2023Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
2400764000 | usd |
| CY2023Q3 | us-gaap |
Revenues
Revenues
|
180991000 | usd |
| CY2023Q3 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
130464000 | usd |
| CY2023Q3 | us-gaap |
Gross Profit
GrossProfit
|
50527000 | usd |
| CY2023Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
35794000 | usd |
| CY2023Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
31872000 | usd |
| CY2023Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
12547000 | usd |
| CY2023Q3 | us-gaap |
Restructuring Charges
RestructuringCharges
|
9546000 | usd |
| CY2023Q3 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
969000 | usd |
| CY2023Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
90728000 | usd |
| CY2023Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-40201000 | usd |
| CY2023Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
103000 | usd |
| CY2023Q3 | us-gaap |
Interest Expense
InterestExpense
|
7863000 | usd |
| CY2023Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-1774000 | usd |
| CY2023Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-49735000 | usd |
| CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-13027000 | usd |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-36708000 | usd |
| CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.64 | |
| CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.64 | |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
57105000 | shares |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
57105000 | shares |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-36708000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
1742000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
420000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
56000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
2106000 | usd |
| CY2023Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-34602000 | usd |
| CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1566685000 | usd |
| CY2023Q3 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
0 | usd |
| CY2023Q3 | us-gaap |
Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
|
4638000 | usd |
| CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
4091000 | usd |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-36708000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
2106000 | usd |
| CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1540812000 | usd |
| CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1537185000 | usd |
| CY2022Q3 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
0 | usd |
| CY2022Q3 | us-gaap |
Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
|
4123000 | usd |
| CY2022Q3 | us-gaap |
Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
|
63000 | usd |
| CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
7123000 | usd |
| CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14335000 | usd |
| CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1538930000 | usd |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-36708000 | usd |
| CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14335000 | usd |
| CY2023Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
22692000 | usd |
| CY2022Q3 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
23701000 | usd |
| CY2023Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4117000 | usd |
| CY2022Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
7249000 | usd |
| CY2023Q3 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
4841000 | usd |
| CY2022Q3 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
3680000 | usd |
| CY2023Q3 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-12795000 | usd |
| CY2022Q3 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-814000 | usd |
| CY2023Q3 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
0 | usd |
| CY2022Q3 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-50000 | usd |
| CY2023Q3 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-8015000 | usd |
| CY2022Q3 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-7278000 | usd |
| CY2023Q3 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
65000000 | usd |
| CY2022Q3 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
60000000 | usd |
| CY2023Q3 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
0 | usd |
| CY2022Q3 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
63000 | usd |
| CY2023Q3 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
65000000 | usd |
| CY2022Q3 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
59937000 | usd |
| CY2023Q3 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-111000 | usd |
| CY2022Q3 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-293000 | usd |
| CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
17806000 | usd |
| CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-13673000 | usd |
| CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
89369000 | usd |
| CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
51981000 | usd |
| CY2023Q3 | us-gaap |
Interest Paid Net
InterestPaidNet
|
6417000 | usd |
| CY2022Q3 | us-gaap |
Interest Paid Net
InterestPaidNet
|
3713000 | usd |
| CY2023Q3 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
14568000 | usd |
| CY2022Q3 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
4131000 | usd |
| CY2023Q3 | us-gaap |
Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
|
6192000 | usd |
| CY2022Q3 | us-gaap |
Noncash Or Part Noncash Acquisition Investments Acquired1
NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
|
507000 | usd |
| CY2023Q3 | us-gaap |
Nature Of Operations
NatureOfOperations
|
Description of BusinessMercury Systems, Inc. is a technology company that delivers processing power for the most demanding aerospace and defense missions. Headquartered in Andover, Massachusetts, the Company's end-to-end processing platform enables a broad range of aerospace and defense programs, optimized for mission success in some of the most challenging and demanding environments. Processing technologies that comprise the Company's platform include signal solutions, display, software applications, networking, storage and secure processing. The Company's innovative solutions are mission-ready, trusted and secure, software-defined and open and modular (the Company's differentiators), to meet customers’ most-pressing high-tech needs, including those specific to the defense community. | |
| CY2023Q3 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:9pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">U</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">SE</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">OF</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> E</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">STIMATES</span></div><div style="margin-top:6pt;text-align:justify;text-indent:24.75pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></div> | |
| CY2022Q3 | mrcy |
Receivables Purchase Agreement Limit On Purchased Receivables
ReceivablesPurchaseAgreementLimitOnPurchasedReceivables
|
20000000 | usd |
| CY2023Q3 | mrcy |
Accounts Receivable Amount Factored
AccountsReceivableAmountFactored
|
28826000 | usd |
| CY2023Q3 | mrcy |
Accounts Receivable Factoring Fees
AccountsReceivableFactoringFees
|
308000 | usd |
| CY2023Q3 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
388555000 | usd |
| CY2023Q2 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
382558000 | usd |
| CY2023Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
58569000 | usd |
| CY2023Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
57142000 | usd |
| CY2023Q3 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
21015000 | usd |
| CY2022Q3 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
4669000 | usd |
| CY2023Q3 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
557347000 | usd |
| CY2023Q3 | mrcy |
Percentage Of Revenue Recognized
PercentageOfRevenueRecognized
|
0.63 | |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
57105000 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
55931000 | shares |
| CY2023Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
0 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
0 | shares |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
57105000 | shares |
| CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
55931000 | shares |
| CY2023Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1912000 | shares |
| CY2022Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
416000 | shares |
| CY2023Q3 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
235921000 | usd |
| CY2023Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
229984000 | usd |
| CY2023Q3 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
101086000 | usd |
| CY2023Q2 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
81930000 | usd |
| CY2023Q3 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
25903000 | usd |
| CY2023Q2 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
25302000 | usd |
| CY2023Q3 | us-gaap |
Inventory Net
InventoryNet
|
362910000 | usd |
| CY2023Q2 | us-gaap |
Inventory Net
InventoryNet
|
337216000 | usd |
| CY2023Q3 | us-gaap |
Number Of Reporting Units
NumberOfReportingUnits
|
2 | reporting_unit |
| CY2023Q3 | mrcy |
Number Of Positions Eliminated
NumberOfPositionsEliminated
|
150 | positions |
| CY2023Q3 | us-gaap |
Restructuring Charges
RestructuringCharges
|
9546000 | usd |
| CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-13027000 | usd |
| CY2022Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-1022000 | usd |
| CY2023Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-49735000 | usd |
| CY2022Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-15357000 | usd |
| CY2023Q3 | mrcy |
Discreet Tax Provision
DiscreetTaxProvision
|
1215000 | usd |
| CY2022Q3 | mrcy |
Discreet Tax Provision
DiscreetTaxProvision
|
1611000 | usd |
| CY2023Q3 | us-gaap |
Secured Long Term Debt
SecuredLongTermDebt
|
576500000 | usd |
| CY2023Q3 | us-gaap |
Interest Expense
InterestExpense
|
7863000 | usd |
| CY2023Q3 | us-gaap |
Secured Long Term Debt
SecuredLongTermDebt
|
576500000 | usd |
| CY2023Q3 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
963000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
56000 | usd |
| CY2022Q3 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-48000 | usd |
| CY2023Q3 | us-gaap |
Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
|
207000 | usd |
| CY2022Q3 | us-gaap |
Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
|
221000 | usd |
| CY2023Q3 | us-gaap |
Defined Benefit Plan Expected Future Employer Contributions Current Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsCurrentFiscalYear
|
1125000 | usd |
| CY2023Q3 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
|
0.06 | |
| CY2023Q3 | us-gaap |
Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
|
2501000 | usd |
| CY2023 | us-gaap |
Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
|
2705000 | usd |
| CY2023Q3 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
4841000 | usd |
| CY2022Q3 | mrcy |
Defined Contribution Plan Employer Discretionary Contribution Amount Cash Payment
DefinedContributionPlanEmployerDiscretionaryContributionAmountCashPayment
|
3680000 | usd |
| CY2023Q3 | mrcy |
Share Based Compensation Arrangement By Share Based Payment Award Exercise Price Percentage Of Fair Value Threshold
ShareBasedCompensationArrangementByShareBasedPaymentAwardExercisePricePercentageOfFairValueThreshold
|
1 | |
| CY2023Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
0 | |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
12.71 | |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
12.71 | |
| CY2023Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
0 | |
| CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
|
11351000 | usd |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
|
0.45 | |
| CY2023Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P4Y | |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0444 | |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
12.71 | |
| CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1188000 | usd |
| CY2023Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1215000 | usd |
| CY2023Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4117000 | usd |
| CY2022Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
7249000 | usd |
| CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1112000 | usd |
| CY2022Q3 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1957000 | usd |
| CY2023Q3 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
3005000 | usd |
| CY2022Q3 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
5292000 | usd |
| CY2023Q3 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
| CY2023Q3 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment |
| CY2023Q3 | us-gaap |
Revenues
Revenues
|
180991000 | usd |
| CY2023Q3 | us-gaap |
Revenues
Revenues
|
180991000 | usd |
| CY2022Q3 | us-gaap |
Revenues
Revenues
|
227579000 | usd |
| CY2022Q3 | us-gaap |
Revenues
Revenues
|
227579000 | usd |
| CY2022Q3 | us-gaap |
Revenues
Revenues
|
227579000 | usd |
| CY2023Q3 | us-gaap |
Revenues
Revenues
|
180991000 | usd |
| CY2022Q3 | us-gaap |
Revenues
Revenues
|
227579000 | usd |
| CY2023Q3 | us-gaap |
Revenues
Revenues
|
180991000 | usd |
| CY2022Q3 | us-gaap |
Revenues
Revenues
|
227579000 | usd |
| CY2023Q3 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
117174000 | usd |
| CY2023Q2 | us-gaap |
Noncurrent Assets
NoncurrentAssets
|
119554000 | usd |
| CY2023Q3 | us-gaap |
Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
|
12900000 | usd |
| CY2022Q3 | us-gaap |
Derivative Notional Amount
DerivativeNotionalAmount
|
300000000 | usd |
| CY2022Q3 | us-gaap |
Derivative Notional Amount
DerivativeNotionalAmount
|
300000000 | usd |
| CY2022Q3 | us-gaap |
Derivative Fixed Interest Rate
DerivativeFixedInterestRate
|
0.0379 | |
| CY2023Q3 | us-gaap |
Secured Long Term Debt
SecuredLongTermDebt
|
576500000 | usd |
| CY2023Q3 | us-gaap |
Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
|
339000 | usd |
