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 Inc. (NASDAQ: MRCY) will release its third quarter fiscal year 2023 financial results on May 2, 2023, after market close. Following this, management will host a conference call at 5:00 p.m. ET to discuss the results, provide business highlights, and outlook. Participants can register online to attend the call and may expect discussions on earnings forecasts and other financial matters that have not been previously disclosed. Mercury Systems specializes in delivering processing power for aerospace and defense missions, making commercial technologies more accessible. The company is headquartered in Andover, Massachusetts, and operates 24 locations globally.
Mercury Systems, Inc. (NASDAQ: MRCY) announced the appointment of Christine Fox Harbison as Executive Vice President and Chief Growth Officer, effective March 6, 2023. Reporting to CEO Mark Aslett, Harbison will lead the company’s growth strategy, enterprise-level proposals, strategic account management, and global partnerships. Previously, she held key positions at Northrop Grumman and Raytheon, bringing over three decades of experience in the defense technology sector. As Harbison joins Mercury, she aims to enhance the company’s role in the U.S. defense industry by making advanced technologies more accessible for national security missions.
Mercury Systems (NASDAQ: MRCY) hosted U.S. Rep. Dale Strong at its Huntsville, Alabama facility on February 16, 2023. The visit highlighted Mercury's role in the aerospace and defense sector, focusing on its commitment to delivering electronic solutions that enhance decision-making for national security. With a growing workforce of nearly 100, the facility specializes in secure processing components for electronic warfare and radar systems. The company is actively hiring for various technical roles, reflecting its expansion in the region.
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.