Filing Flows › Mercury Systems (MRCY) › Q3 FY26 › vs Q3 FY25
Mercury Systems (MRCY) Q3 FY26 vs Q3 FY25 (year over year)
Mercury Systems's revenue rose $24.4M (+12%) from $211M in Q3 FY25 to $236M in Q3 FY26. The biggest changes: Land +$19.0M (+56%); Space +$13.9M (+120%); Integrated Subsystems −$5.7M (-5%).
Mercury Systems, Q3 FY26: revenue $236M (+12% year over year), operating margin 2.2%, net loss $2.9M, operating cash flow $6.4M. The chart draws each line against Q3 FY25, the increases inside each band.
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Airborne | $83.8M | $102M | −$17.7M | -17% |
| Naval | $29.8M | $17.8M | $12.0M | +68% |
| Integrated Subsystems | $114M | $119M | −$5.7M | -5% |
| Land | $52.8M | $33.8M | $19.0M | +56% |
| Other | $43.9M | $46.7M | −$2.8M | -6% |
| Space | $25.4M | $11.5M | $13.9M | +120% |
| Revenue | $236M | $211M | $24.4M | +12% |
| Net loss | $2.9M | $19.2M | −$16.3M | -85% |
| Costs & expenses | $239M | $233M | $5.4M | +2% |
| Operating costs | $231M | $229M | $1.8M | +0.8% |
| Interest & other, net | $7.9M | $4.5M | $3.4M | +77% |
| Income tax | $174K | −$2.6M | $2.8M | — |
| Cost of revenue | $167M | $154M | $12.5M | +8% |
| Research & development | $15.0M | $16.0M | −$969K | -6% |
| SG&A | $39.1M | $43.0M | −$3.9M | -9% |
| Other operating costs | $9.7M | $15.4M | −$5.8M | -37% |
| Operating cash sources | $27.0M | $28.5M | −$1.5M | -5% |
| Depreciation & amortization | $18.0M | $19.9M | −$2.0M | -10% |
| Share-based compensation | $9.0M | $8.5M | $500K | +6% |
| Net loss absorbed | $2.9M | $19.2M | −$16.3M | -85% |
| Working capital & other | $17.7M | −$20.7M | $38.4M | — |
| Operating cash flow | $6.4M | $30.0M | −$23.5M | -79% |
| Capital expenditures | $8.3M | $5.9M | $2.3M | +40% |
| Negative free cash flow (OCF − capex) | $1.8M | −$24.1M | $25.9M | — |
Questions
How much did Mercury Systems's revenue grow year over year in Q3 FY26?
Mercury Systems's revenue rose $24.4M (+12%) from $211M in Q3 FY25 to $236M in Q3 FY26.
What drove Mercury Systems's revenue change in Q3 FY26?
Land +$19.0M (+56%); Space +$13.9M (+120%); Integrated Subsystems −$5.7M (-5%).