Filing Flows › Mercury Systems (MRCY) › Q3 FY25
Mercury Systems (MRCY) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed May 6, 2025
Mercury Systems (MRCY) reported revenue of $211M for the third quarter fiscal 2025 (Q3 FY25), +1% from a year earlier and -5% from the quarter before. Operating margin was -8.2%, net loss $19.2M (9.1% of revenue).
Mercury Systems, Q3 FY25: revenue $211M (+2% year over year), operating margin -8.2%, net loss $19.2M, operating cash flow $30.0M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $211M | -5% | +1% |
| Operating profit | −$17.3M | — | — |
| Net earnings | −$19.2M | — | — |
| Operating cash flow | $30.0M | -65% | — |
| Free cash flow | $24.1M | — | — |
What changed
Revenue was $211.4M in Q3 FY25, up 1% year over year and down 5% from the previous quarter. Airborne was the largest line at 48% of revenue. Other added $11.2M year over year (up 31%), 360% of the total change. Space declined 65%.
Gross margin was 27.0%, up 7.5 points from a year earlier. Operating costs exceeded revenue by $17.3M, an operating margin of -8.2%. Operating expenses fell 14% while revenue rose 1%. The quarter ended with a net loss of $19.2M, wider than the previous quarter's $17.6M loss.
Operating cash flow was $30.0M. Non-cash charges added back $19.9M of depreciation and amortization and $8.5M of share-based compensation. Working capital and other items added $20.7M. After purchases of property and equipment ($5.9M), free cash flow as the company reports it was $24.1M.
Questions
What was Mercury Systems' revenue in the third quarter fiscal 2025?
Mercury Systems (MRCY) reported revenue of $211M for the third quarter fiscal 2025 (Q3 FY25), +1% from a year earlier and -5% from the quarter before.
Was Mercury Systems profitable in the third quarter fiscal 2025?
Operating loss was $17.3M (-8.2% of revenue) and net loss $19.2M.
Source: Mercury Systems 10-Q on SEC EDGAR.