Mercury Systems Reports Record Bookings and Backlog Growth in Q4 2026 Earnings Call
Mercury Systems (MRCY) reported strong financial results for fiscal 2026, with record bookings of $660 million during the fourth quarter—a 93.1% increase year-over-year—driven by production awards in common processing architecture and airborne applications. Total backlog reached over $1.9 billion as of July 3, 2026, up 38.4%, reflecting robust demand across its product portfolio. The company generated quarterly revenue of $290 million for Q4, with full-year fiscal 2026 revenue reaching $984 million—an organic increase of 7.9% from the prior year. Adjusted EBITDA rose to $150 million in FY2026, a 25.7% improvement year-over-year, and management provided guidance for FY2027 with expected revenue approaching $1.1 billion—nearly 10% growth—and adjusted EBITDA near $200 million. Despite strong top-line performance, free cash flow declined to $68 million in fiscal 2026 from $119 million the prior year due to investments in working capital and inventory.
Tickers: $MRCY
Topics: backlog cash_flow ebitda financial_performance revenue_growth