Welcome to our dedicated page for Mercury Sys news (Ticker: MRCY), a resource for investors and traders seeking the latest updates and insights on Mercury Sys stock.
Mercury Systems Inc. develops secure open-architecture processing technology for aerospace and defense missions. The company’s Mercury Processing Platform spans signal processing, mission computing, sensor processing, command and control, communications, solid-state data recording, and edge processing applications used by defense prime contractors, the U.S. government, original equipment manufacturers, and commercial aerospace customers.
Recurring Mercury Systems news covers quarterly results, bookings, backlog, cash flow, and program demand, along with contract awards tied to space, strategic weapons, satellite, and electronic warfare applications. Company updates also include production capacity actions, specialized manufacturing capabilities such as the SolderMask acquisition, and product activity around radiation-hardened or radiation-tolerant storage and processing subsystems, RF modules, ARES radar environment simulators, and mPOD jammer training pods.
Mercury Systems (NASDAQ: MRCY) announced changes to its Board of Directors. Roger Krone, former Chairman and CEO of Leidos, has departed from the Board to focus on his new role as President and CEO of the Boy Scouts of America. The company appointed Jean Bua, current CFO of NetScout Systems, as a new Independent Director. Bua, who brings extensive financial and accounting experience, will serve on the Audit and Government Relations Committees. Mercury's Chairman and CEO Bill Ballhaus expressed gratitude to Krone for his service and welcomed Bua, highlighting her expertise in financial, accounting, governance, and compliance leadership in the relevant industry.
Mercury Systems (NASDAQ: MRCY) has secured a two-year, $17 million development contract from a U.S. defense prime contractor to implement its Common Processing Architecture. The company will upgrade existing processing capabilities with enhanced performance and security features, including BuiltSECURE™ technology, making the system eligible for export to allied nations.
This follows a separate $49 million production agreement received in Q1, indicating Mercury's successful return to full-rate production in its Common Processing Architecture product line. The company's processing platform is currently deployed in over 300 programs across 35 countries, supporting various aerospace and defense missions.
Mercury Systems (NASDAQ: MRCY) has introduced new digital signal processing products: the DRF2270 system-on-module (SOM) and DRF5270 3U SOSA-aligned OpenVPX board, powered by Altera's Agilex 9 Direct RF FPGA chips. The DRF2270 is an 8-channel SOM that converts signals at 64 gigasamples per second, featuring Altera's AGRW027 FPGA with 47% more logic elements and 34% more memory than previous generations.
These products directly digitize radio frequency signals at the antenna, eliminating analog signal down conversion stages. This approach reduces size, weight, power, cost, and latency, benefiting radar, communications, electronic warfare, SIGINT, and industrial applications. The technology comes with Navigator® Board Support Package and FPGA Design Kit for custom IP development.
Mercury Systems (NASDAQ: MRCY) reported Q1 FY25 results with revenue of $204.4 million, up 13% year-over-year. Bookings reached $247.7 million, a 29% increase year-over-year, with a book-to-bill ratio of 1.21. The company reported a GAAP net loss of $17.5 million, or $0.30 per share, improved from a loss of $36.7 million in Q1 FY24. Adjusted EBITDA was $21.5 million with a 10.5% margin, significantly up from $2.0 million last year. Total backlog reached a record $1.34 billion, representing a $187.8 million increase from the previous year.
Mercury Systems (NASDAQ: MRCY) has been awarded a five-year contract worth up to $131.3 million from the U.S. Naval Air Systems Command (NAVAIR) to continue providing Advanced Data Transfer Systems (ADTS) for naval aircraft. The company has been delivering ADTS and components to the Navy since 2017 for various rotary-wing and fixed-wing aircraft.
The new contract allows Mercury to deliver upgraded power-efficient ADTS units incorporating their JDAR encryption module. These systems simplify secure data transfer between ground planners and aircraft, enhancing operational readiness. Mercury's ADTS features include up to 3 TB solid state memory, optional crash survivable memory, high-speed data transfer rates, and various interfaces compliant with military standards.
Mercury Systems Inc. (NASDAQ: MRCY) will release its first quarter fiscal year 2025 financial results after market close on Tuesday, November 5, 2024. Management will host a conference call and simultaneous webcast at 5:00 p.m. ET on the same day to discuss the results, business highlights, and outlook. Participants can register online at ir.mrcy.com/events-presentations, preferably a day in advance or at least 15 minutes before the call starts.
A webcast replay will be available two hours after the call and archived for six months. Mercury Systems, headquartered in Andover, Massachusetts, is a technology company delivering mission-critical processing power to the edge for aerospace and defense missions. Their products are used in over 300 programs across 35 countries.
Mercury Systems (NASDAQ: MRCY) has signed a contract with Boeing to provide FPGA processor boards for the upgraded refueling system on the U.S. Air Force's KC-46A tanker aircraft fleet. The SCFE3920 boards will be a key component of the next-generation KC-46A Remote Vision System (RVS) 2.0, processing high-resolution, color video feeds for clear and precise refueling operations.
Mercury has already delivered hundreds of boards for development testing and will now supply approximately 1,500 production boards to support RVS 2.0 implementation on KC-46 aircraft for the United States and allied nations. This advanced technology from the Mercury Processing Platform is expected to significantly enhance the capability of KC-46A aerial refueling operations.
Mercury Systems (NASDAQ: MRCY) has expanded its Direct RF digital signal processing product line with the introduction of the DRF4580L, a small-form-factor module powered by Altera Agilex FPGAs. This new product builds on the previously released DRF2580 system-on-module, offering a ruggedized, conduction-cooled enclosure suitable for defense applications. The DRF4580L features four 64 GSPS A/D and D/A converters, 16 GB DDR4 SDRAM, and four 100 GigE optical interfaces in a compact 6.4" x 6.4" x 1.7" form factor.
The module comes with Mercury's Navigator® Board Support Package and FPGA Design Kit, enabling rapid custom IP development. This technology aims to reduce size, weight, power, cost, and latency in various applications including radar, communications, and electronic warfare. Mercury delivered the first DRF4580L unit to a customer in August and will showcase it at the Air, Space & Cyber Conference.
Mercury Systems (NASDAQ: MRCY) reported Q4 FY24 results with bookings of $284.4 million and a book-to-bill ratio of 1.14. Q4 revenue was $248.6 million, with a GAAP net loss of $10.8 million. The company achieved record backlog of $1.3 billion, up 16% year-over-year. For full-year FY24, revenues were $835.3 million with a GAAP net loss of $137.6 million. Total bookings for FY24 were $1.02 billion with a book-to-bill ratio of 1.22. The company reported positive free cash flow of $61.4 million in Q4 and $26.1 million for FY24, reversing a multi-year trend of working capital growth.
Mercury Systems, Inc. (NASDAQ: MRCY) has appointed Brad Whittington as its new Senior Vice President of Engineering, effective Aug. 12, 2024. Whittington, with over 25 years of experience in technical leadership roles in aerospace and defense, will lead Mercury's recently integrated Engineering organization. This appointment is part of Mercury's recent reorganization to streamline operations, centralizing Engineering, Operations, and Mission Assurance functions.
The restructuring aims to enhance program execution, improve efficiency, and drive customer satisfaction. Joe Plunkett, the interim Engineering leader, will transition to lead the new Advanced Concepts organization. Mercury Systems, headquartered in Andover, Massachusetts, delivers mission-critical processing power for aerospace and defense missions, with products deployed in over 300 programs across 35 countries.