Filing Flows › Mercury Systems (MRCY) › Q4 FY26 › vs Q4 FY25
Mercury Systems (MRCY) Q4 FY26 vs Q4 FY25 (year over year)
Mercury Systems's revenue rose $16.7M (+6%) from $273M in Q4 FY25 to $290M in Q4 FY26. Gross margin 30.6% against 31.0% (-0.5 pts).
Mercury Systems, Q4 FY26: revenue $290M (+6% year over year), operating margin 5.0%, net earnings $798K, operating cash flow $42.2M. The chart draws each line against Q4 FY25, the increases inside each band.
Margins
| Q4 FY26 | Q4 FY25 | Change | |
|---|---|---|---|
| Gross margin | 30.6% | 31.0% | -0.5 pts |
| Operating margin | 5.0% | 8.6% | -3.6 pts |
| Net margin | 0.3% | 6.0% | -5.7 pts |
| Free cash flow margin | 9.9% | 12.4% | -2.6 pts |
Every line
| Line | Q4 FY26 | Q4 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $290M | $273M | $16.7M | +6% |
| Gross profit | $88.6M | $84.8M | $3.8M | +5% |
| Cost of revenue | $201M | $188M | $12.9M | +7% |
| Operating profit | $14.5M | $23.6M | −$9.1M | -39% |
| Operating expenses | $74.1M | $61.2M | $12.9M | +21% |
| Pre-tax earnings | $7.8M | $18.8M | −$11.0M | -59% |
| Other expense, net | $6.7M | $4.7M | $1.9M | +41% |
| Research & development | $16.2M | $11.9M | $4.2M | +36% |
| SG&A | $47.8M | $37.7M | $10.1M | +27% |
| Other operating costs | $10.1M | $11.6M | −$1.5M | -13% |
| Net earnings | $798K | $16.4M | −$15.6M | -95% |
| Income tax | $7.0M | $2.4M | $4.5M | +186% |
| Depreciation & amortization | $17.5M | $20.0M | −$2.5M | -12% |
| Share-based compensation | $11.9M | $2.4M | $9.5M | +393% |
| Working capital & other | $11.9M | −$681K | $12.6M | — |
| Operating cash flow | $42.2M | $38.1M | $4.1M | +11% |
| Free cash flow (company-reported) | $28.6M | $34.0M | −$5.4M | -16% |
| Purchases of property and equipment | $13.6M | $4.1M | $9.5M | +232% |
Questions
How much did Mercury Systems's revenue grow year over year in Q4 FY26?
Mercury Systems's revenue rose $16.7M (+6%) from $273M in Q4 FY25 to $290M in Q4 FY26. Gross margin 30.6% against 31.0% (-0.5 pts).