2024 Q4 Form 10-Q Financial Statement

#000104952124000044 Filed on November 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $204.4M
YoY Change 12.95%
Cost Of Revenue $152.6M
YoY Change 17.0%
Gross Profit $51.79M
YoY Change 2.5%
Gross Profit Margin 25.33%
Selling, General & Admin $33.15M
YoY Change -7.38%
% of Gross Profit 64.01%
Research & Development $18.38M
YoY Change -42.32%
% of Gross Profit 35.5%
Depreciation & Amortization $21.22M
YoY Change -6.49%
% of Gross Profit 40.97%
Operating Expenses $65.21M
YoY Change -28.13%
Operating Profit -$13.42M
YoY Change -66.62%
Interest Expense $8.906M
YoY Change 13.26%
% of Operating Profit
Other Income/Expense, Net -$1.339M
YoY Change -24.52%
Pretax Income -$23.12M
YoY Change -53.52%
Income Tax -$5.594M
% Of Pretax Income
Net Earnings -$17.53M
YoY Change -52.26%
Net Earnings / Revenue -8.57%
Basic Earnings Per Share -$0.30
Diluted Earnings Per Share -$0.30
COMMON SHARES
Basic Shares Outstanding 59.63M shares 59.41M shares
Diluted Shares Outstanding 58.26M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $158.1M
YoY Change 76.87%
Cash & Equivalents $158.1M
Short-Term Investments
Other Short-Term Assets $22.29M
YoY Change -0.5%
Inventory $351.1M
Prepaid Expenses
Receivables $124.5M
Other Receivables $0.00
Total Short-Term Assets $954.3M
YoY Change -0.04%
LONG-TERM ASSETS
Property, Plant & Equipment $105.1M
YoY Change -10.34%
Goodwill $938.1M
YoY Change 0.0%
Intangibles $239.3M
YoY Change -16.2%
Long-Term Investments
YoY Change
Other Assets $7.486M
YoY Change 68.38%
Total Long-Term Assets $1.415B
YoY Change -2.17%
TOTAL ASSETS
Total Short-Term Assets $954.3M
Total Long-Term Assets $1.415B
Total Assets $2.369B
YoY Change -1.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.74M
YoY Change -22.0%
Accrued Expenses $42.55M
YoY Change 26.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $232.8M
YoY Change 13.38%
LONG-TERM LIABILITIES
Long-Term Debt $591.5M
YoY Change 2.6%
Other Long-Term Liabilities $17.34M
YoY Change 96.99%
Total Long-Term Liabilities $17.34M
YoY Change 96.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $232.8M
Total Long-Term Liabilities $17.34M
Total Liabilities $909.1M
YoY Change 5.72%
SHAREHOLDERS EQUITY
Retained Earnings $202.3M
YoY Change -36.93%
Common Stock $584.0K
YoY Change 1.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.460B
YoY Change
Total Liabilities & Shareholders Equity $2.369B
YoY Change -1.32%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$17.53M
YoY Change -52.26%
Depreciation, Depletion And Amortization $21.22M
YoY Change -6.49%
Cash From Operating Activities -$14.66M
YoY Change -62.48%
INVESTING ACTIVITIES
Capital Expenditures $6.236M
YoY Change -22.2%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$6.236M
YoY Change -22.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.249M
YoY Change -103.46%
NET CHANGE
Cash From Operating Activities -$14.66M
Cash From Investing Activities -$6.236M
Cash From Financing Activities -$2.249M
Net Change In Cash -$22.40M
YoY Change -225.79%
FREE CASH FLOW
Cash From Operating Activities -$14.66M
Capital Expenditures $6.236M
Free Cash Flow -$20.90M
YoY Change -55.62%

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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:26.28pt">Description of Business</span><div style="margin-top:5pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mercury Systems, Inc. (the Company) is a technology company that delivers mission-critical processing power to the edge - where signals and data are collected - to solve the most pressing aerospace and defense challenges. Mercury’s products and solutions are deployed in more than 300 programs and across 35 countries. The Company is headquartered in Andover, Massachusetts, and has over 20 locations worldwide.</span></div>The Mercury Processing Platform is the unique advantage the Company provides to its customers. It comprises the innovative technologies the Company has developed and acquired for more than 40 years that brings integrated, mission-critical processing capabilities to the edge. The Company's processing platform spans the full breadth of signal processing—from RF front end to the human-machine interface—to rapidly convert meaningful data, gathered in the most remote and hostile environments, into critical decisions. It allows the Company to offer standard products and custom solutions from silicon to system scale, including components, modules, subsystems, and systems, and it embodies the customer-centric approach the Company takes to delivering capabilities that are mission-ready, trusted and secure, software-defined, and open and modular.
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<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>
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