Mercury Systems Inc. filings document the regulatory record for a Massachusetts aerospace and defense technology company listed on Nasdaq under MRCY. Recent Form 8-K reports furnish earnings releases and presentations for quarterly and fiscal results, including GAAP operating measures and non-GAAP measures such as adjusted EBITDA, adjusted income, adjusted EPS, and free cash flow.
The company’s filings also record material financing and governance matters. Disclosures include amendments to its credit agreement and revolving credit facility, borrowing capacity, maturity, leverage-ratio provisions, and related covenant terms. Proxy and annual meeting filings cover director elections, executive compensation, shareholder voting results, long-term incentive plan approval, and other board and compensation governance items.
Mercury Systems, Inc. reported stronger third quarter fiscal 2026 results with higher sales and margins but a small GAAP loss. Revenue was $235.8 million, up from $211.4 million a year earlier, driven by robust demand across missile, C4I, and space programs.
Bookings reached a record $348.3 million, a 74% increase, producing a book-to-bill ratio of 1.48 and backlog of about $1.58 billion, up 18% year-over-year. Adjusted EBITDA rose to $36.1 million, or a 15.3% margin, while GAAP net loss narrowed to $2.9 million, or $0.04 per share.
Cash from operations fell to $6.4 million from $30.0 million, with free cash flow at negative $1.8 million. Management raised full-year fiscal 2026 guidance to revenue growth approaching mid single-digits and expects mid-teens adjusted EBITDA margin and positive fourth-quarter free cash flow.
Mercury Systems Inc director Barry R. Nearhos received a grant of 245 deferred stock units in lieu of a quarterly cash retainer for his board service. These units were fully vested on grant but will not convert into common stock until he leaves the Board of Directors. Following this award, he holds 31,324 deferred stock units directly and has an additional 3,500 shares reported as indirectly owned through his spouse.
Mercury Systems EVP and CFO David E. Farnsworth reported an open-market sale of 3,625 shares of common stock. Footnotes state the shares were sold under a sell-to-cover program to satisfy tax withholding obligations when stock awards vested, rather than as a discretionary sale.
After this transaction, he holds 157,701 shares directly and 1,419 shares indirectly through a 401K Plan, indicating he retains a substantial equity stake in the company.
The Vanguard Group filed an amendment on Schedule 13G/A disclosing it beneficially owns 0 shares of Mercury Systems Inc Common Stock, representing 0% of the class. The filing notes an internal realignment effective January 12, 2026, after which certain subsidiaries report ownership separately.
Ratner Steven reported acquisition or exercise transactions in this Form 4 filing.
Mercury Systems EVP and CHRO Steven Ratner received 437 shares of common stock on March 16, 2026 as a grant of restricted stock units earned as matching awards under Mercury's Deferred Compensation Matching Plan. Following this award, he holds 34,238 shares directly and 235 shares indirectly through a 401(k) plan.
JANA Partners Management filed Amendment No. 4 to its Schedule 13D on Mercury Systems Inc., updating its ownership disclosure. Based on 60,014,632 common shares outstanding as of January 31, 2026, JANA reports beneficial ownership of 4,114,618 shares, or about 6.9% of the company.
The position includes deferred stock units granted to Board member Mr. Ostfeld: 4,832 DSUs from October 23, 2024 and 2,362 DSUs from October 22, 2025. These DSUs vest on the earlier of one year after grant or the next annual shareholder meeting and convert into shares when he leaves the Board, with all rights to the underlying shares assigned to JANA. JANA has sole voting and dispositive power over the reported shares, exercised by its principal, and recent transactions were executed in the open market through brokerage firms.
MERCURY SYSTEMS INC shareholder JANA Partners Management, LP reported open-market sales of a total of 452,057 shares of Mercury common stock over three days. The sales occurred on March 2, 3, and 4, 2026 at weighted average prices of about $94.05, $90.12, and $89.68 per share, respectively. After these transactions, accounts managed by JANA held 4,114,618 shares of Mercury common stock. JANA states the sales were made to rebalance the holdings of the funds and accounts it manages and disclaims beneficial ownership beyond its pecuniary interest.
Mercury Systems director Howard L. Lance sold common stock in the company. On February 25, 2026, he completed an open-market sale of 4,832 shares of Mercury Systems common stock at a weighted average price of $88.9817 per share, executed across multiple trades.
After this sale, Lance directly owned 27,272 common shares. In addition, 9,250 shares were held indirectly through The Howard L. Lance Revocable Living Trust dated September 1, 2006.