Mercury Sys Inc Stock Price, News & Analysis

Mercury Systems, Inc. (MRCY) reported Q2 FY2023 results showing revenues of $229.6M, a 4% increase from the previous year, alongside bookings of $270.3M, yielding a book-to-bill ratio of 1.18.

Despite a GAAP net loss of $10.9M ($0.19 per share), adjusted EPS was $0.26. The backlog hit a record of $1.12B with $765.5M expected to convert to revenue in the next 12 months.

Looking forward, the company expects revenues for Q3 FY2023 to range between $245M to $260M and maintains its annual guidance for revenues between $1.01B and $1.05B.

On January 31, 2023, Mercury Systems announced the resignation of Michael Ruppert, CFO, effective February 17, 2023, to pursue an opportunity elsewhere. Michelle McCarthy will serve as interim CFO. Ruppert has been with Mercury for eight years, contributing significantly to its M&A strategy. The company has begun the search for a permanent CFO. Mercury also reported its second-quarter fiscal year 2023 results, emphasizing goals of $1 billion in revenue and improved capital efficiency for the fiscal year. Ruppert's departure is noted to not be related to any financial issues.

Mercury Systems, Inc. (NASDAQ: MRCY) has unveiled its next-generation rugged edge servers, the RES X08, equipped with 4th generation Intel Xeon Scalable processors. These servers significantly enhance compute performance for aerospace and defense missions, featuring advancements such as 50% increased CPU core count, 6x greater GPU performance, and 15% improved power efficiency. The RES X08 also supports advanced technologies like NVIDIA H100 GPUs and high-speed DDR5 memory. Mercury aims to accelerate data processing capabilities in mission-critical environments, fulfilling the growing demand for robust computing solutions in defense applications.

Mercury Systems (NASDAQ: MRCY) announced the appointment of Vivek Upadhyaya as Vice President of Finance on January 23, 2023. Upadhyaya, previously CFO of Leonardo Electronics U.S., brings extensive financial leadership experience from companies like IAI North America and Orbital ATK. His role will focus on forecasting, analysis, and internal reporting, aiming to enhance the company’s growth strategy. CFO Mike Ruppert expressed enthusiasm for Upadhyaya's expertise in navigating the aerospace and defense sectors, implying a positive trajectory for MRCY as it aligns with emerging industry trends.

Mercury Systems (NASDAQ: MRCY) has launched the DRF3182 Direct RF Processing Module, a state-of-the-art open-architecture board designed for aerospace and defense applications. This module features Intel's Stratix® 10 AX SoC FPGA, allowing for direct digitization and processing of broadband RF signals, thereby reducing system size and costs while enhancing flexibility. Key specifications include four 10-bit ADC/DAC channels at 51.2 GSPS and a Ku band range from 2-18 GHz. The product aims to provide a technological edge in electronic warfare and radar systems, crucial for U.S. and allied forces in a rapidly changing threat landscape.

Mercury Systems (NASDAQ: MRCY) will announce its second quarter fiscal year 2023 financial results on January 31, 2023, after the market closes. A conference call and webcast will follow at 5:00 p.m. ET to discuss the financial outcomes, business highlights, and outlook. Participants are encouraged to register online in advance. Mercury Systems focuses on advancing mission-critical technologies for aerospace and defense, employing over 2,300 people globally. Further information can be found at mrcy.com.

Mercury Systems, a leader in aerospace and defense technologies, has launched a new radiation-tolerant 8GB DDR4 memory component. This innovation aims to enhance performance in space applications, addressing the need for higher processing power and memory efficiency. The component offers 75% space savings compared to alternatives and operates under extreme conditions, with data transfer speeds up to 2,666 Mb/s. The new memory modules are part of Mercury's strategy to support complex government and commercial space missions.

Mercury Systems (MRCY) reported strong first quarter fiscal 2023 results, with bookings of $266.9 million and a book-to-bill ratio of 1.17, indicating robust demand. The record backlog now stands at $1.08 billion, up 22% year-over-year. Revenue increased slightly to $227.6 million, driven partly by acquisitions. However, the company faced a GAAP net loss of $14.3 million or $0.26 per share, worsened from last year’s loss. Management raised the low end of full-year revenue guidance to $1.01-$1.05 billion, signaling optimism for ongoing growth.

Mercury Systems (NASDAQ: MRCY) has announced the successful initial flight testing of its new mPOD electronic attack training system. This system enhances pilot training by simulating realistic jamming capabilities against adversary tactics. Tactical Air Support conducted the tests, showing the mPOD's effectiveness in electronic warfare scenarios. With rapid reprogramming capabilities, the mPOD allows for cost-effective training while improving military readiness. The technology, validated over 35 years, promises to increase pilot survivability and reduce operational costs.