Mercury Systems had a record first quarter, with $253 million in sales and $370 million in bookings.

Nov 10, 2026, 6:02 PM ETResultsRead the original at Benzinga

Good for MRCY

Mercury Systems had record orders, sales, backlog, and adjusted EBITDA, and raised its FY27 outlook. A $24 million cash outflow is a concern, but stronger results and expected growth make the update positive.

MRCY · Mercury Systems

AI read · Good for MRCY

The AI's read

The larger backlog gives Mercury Systems more work to turn into sales. Sales grew 12.4%, and adjusted EBITDA grew 58.6%, but the company still had a $24 million cash outflow. Its higher FY27 expectations and cash-conversion target make the positive signs stronger.

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