Welcome to our dedicated page for Mercury Systems news (Ticker: MRCY), a resource for investors and traders seeking the latest updates and insights on Mercury Systems stock.
Mercury Systems Inc., trading under the symbol MRCY on Nasdaq, is at the forefront of revolutionizing the defense electronics market with its next-generation business model. As a commercial technology provider serving the aerospace and defense sectors, Mercury Systems delivers secure, open architecture solutions critical to mission success in harsh environments. These solutions power a variety of applications, including mission computing, sensor processing, command and control, and communications.
Headquartered in Andover, Massachusetts, Mercury Systems boasts a global presence with 24 locations worldwide and products deployed in over 300 programs across 35 countries. The company is dedicated to making advanced technologies more accessible, ensuring that data is turned into actionable decisions quickly and effectively. Their core business involves the development and delivery of secure sensor and safety-critical processing subsystems optimized for both customer and mission success.
Mercury Systems has a rich history of innovation, evidenced by recent advancements such as the ARES-SAR radar environment simulator, which enhances radar system testing and training. Additionally, their Mercury Processing Platform enables clients to leverage capabilities from silicon to system scale, further cementing their role as a key player in the defense and aerospace industry.
Financially, Mercury Systems remains robust, with a significant backlog of $1.29 billion as of March 2024, reflecting strong customer demand. Despite challenges, the company has shown resilience by focusing on operational efficiencies and strategic growth, aiming to deliver above-average industry growth and profitability in the long term.
Partnerships play a vital role in Mercury’s strategy. Collaborations with giants like Raytheon and BlueHalo underscore Mercury's capabilities in delivering advanced defense solutions. Notably, Mercury’s hardware supports Raytheon’s LTAMDS radars and BlueHalo's BADGER system for the U.S. Space Force’s SCAR program.
Mercury Systems continuously innovates, as seen with the DRF2580 SOM, which significantly enhances RF spectrum processing at the edge, and the recent production of embedded computing technologies for Lockheed Martin’s F-35 program in Switzerland. These developments highlight Mercury’s commitment to providing cutting-edge technology and supporting the strategic missions of its customers.
In summary, Mercury Systems Inc. stands as a pivotal force in the defense electronics sector, driving innovation and delivering mission-critical solutions that support the safety and security of nations worldwide.
Mercury Systems (NASDAQ: MRCY) has secured a $24.5 million contract to develop data processing and storage subsystems for a U.S. Defense Department satellite program. Working with a space systems prime contractor, Mercury will deliver solutions incorporating their SCFE6933 processing board with AMD Versal™ AI Core series FPGAs and the new RH304T solid-state data recorder, featuring 4.5 terabytes of radiation-tolerant storage capacity.
The project will leverage Mercury's commercial products and expertise in data recording, processing, and subsystem integration for defense applications. The company's Advanced Concepts Group will drive this innovative technology solution, utilizing the Mercury Processing Platform's capabilities for mission-critical processing at the edge. The contract success is attributed to Mercury's integrated organizational structure implemented last year, which enables the company to leverage commercial products for specialized defense solutions.
Mercury Systems (NASDAQ: MRCY) has announced three key senior leadership appointments to support its growth strategy. Robin Milton joins as Chief Marketing and Communications Officer, focusing on brand awareness and revenue generation. Tyler Hojo becomes Vice President of Investor Relations, managing relationships with the investment community. Krishna Sinha takes the role of Vice President of Strategy and Corporate Development, leading long-term strategic planning and acquisition strategy.
Milton previously served at LMI, Hojo was at ACK Asset Management, and Sinha held leadership positions at CACI International. All three executives will report to either the Chief Human Resources Officer or Chief Financial Officer. CEO Bill Ballhaus stated that these appointments complete the company's strategic structuring for its next growth phase.
Mercury Systems (NASDAQ: MRCY) has announced it will release its second quarter fiscal year 2025 financial results after market close on Tuesday, February 4, 2025. The company will host a conference call and simultaneous webcast at 5:00 p.m. ET on the same day.
During the call, management will discuss quarterly financial results, business highlights, and outlook. Company representatives may address questions about business and financial developments, trends, and earnings forecasts. Participants can register for the conference call or webcast at ir.mrcy.com/events-presentations, preferably a day in advance or at least 15 minutes before the start.
A replay will be available two hours after the call and archived for six months on the same web page.
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.
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