Mercury Systems, Inc. (MRCY) Income Statement
MRCY FY2026 at a glance
Fiscal year ended June 30, 2026 · U.S. dollarsMRCY revenue and net income
Where MRCY's revenue goes
FY2026Each bar shows an amount and its share of revenue. MRCY kept −3.0% of revenue as net income.
MRCY profit margins
MRCY growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.9% | +0.3% | +1.3% | +13.8% |
| Gross profit | −4.8% | −8.5% | −8.9% | +6.9% |
| Operating income | — | — | −23.7% | −1.3% |
| Net income | — | — | — | — |
| EPS (diluted) | +35.9% | −4.9% | −18.5% | +0.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MRCY quarterly EPS vs estimates
Mercury Systems beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 10, 2026 (estimate $0.10).
MRCY income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $983.6M | $912.0M | $835.3M | $973.9M | $973.9M | $924.0M | $796.6M | $654.7M | $493.2M | $408.6M |
| Cost of revenue | $741.4M | $657.5M | $639.4M | $657.2M | $657.2M | $538.8M | $439.8M | $368.6M | $267.3M | $217.0M |
| Gross profit | $242.3M | $254.5M | $195.9M | $316.7M | $316.7M | $385.2M | $356.8M | $286.2M | $225.9M | $191.5M |
| Research & development | $59.7M | $67.6M | $101.3M | $108.8M | $108.8M | $113.5M | $98.5M | $68.9M | $58.8M | $54.1M |
| Sales, general & admin | $175.0M | $154.4M | $166.8M | $160.6M | $160.6M | $134.3M | $132.3M | $110.7M | $88.4M | $76.5M |
| Total operating expenses | $221.3M | $274.1M | $343.7M | $338.4M | $338.4M | $304.2M | $265.8M | $207.6M | $173.2M | $150.3M |
| Operating income | $20.9M | −$19.6M | −$147.8M | −$21.7M | −$21.7M | $81.0M | $91.1M | $76.6M | $47.0M | $37.4M |
| Interest income | $7.7M | $3.6M | $1.2M | $1.1M | $143,000 | $179,000 | $2.2M | $932,000 | $32,000 | $462,000 |
| Interest expense | $29.6M | $33.4M | $35.0M | $25.2M | $25.2M | $1.2M | $1.0M | $9.1M | $2.9M | $7.6M |
| Income before taxes | −$28.9M | −$50.4M | −$189.3M | −$48.5M | −$48.5M | $77.2M | $93.9M | $59.5M | $42.6M | $31.1M |
| Income taxes | $784,000 | −$12.5M | −$51.6M | −$20.2M | −$20.2M | $15.1M | $8.2M | $12.8M | $1.7M | $6.2M |
| Net income | −$29.7M | −$37.9M | −$137.6M | −$28.3M | −$28.3M | $62.0M | $85.7M | $46.8M | $40.9M | $24.9M |
| EBITDA | $93.6M | $65.0M | −$66.2M | $73.9M | $73.9M | $163.3M | $144.3M | $125.7M | $97.0M | $77.2M |
| EPS (diluted) | $0.87 | $0.64 | −$0.69 | $1.01 | $2.18 | $2.42 | $2.30 | $1.83 | $1.42 | $1.13 |
| Gross margin | 24.6% | 27.9% | 23.5% | 32.5% | 32.5% | 41.7% | 44.8% | 43.7% | 45.8% | 46.9% |
| Operating margin | 2.1% | −2.2% | −17.7% | −2.2% | −2.2% | 8.8% | 11.4% | 11.7% | 9.5% | 9.2% |
| Net margin | −3.0% | −4.2% | −16.5% | −2.9% | −2.9% | 6.7% | 10.8% | 7.1% | 8.3% | 6.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $289.8M | $235.8M | $232.9M | $225.2M | $273.1M | $211.4M | $223.1M | $204.4M | $248.6M | $204.4M | $248.6M | $181.0M |
| Cost of revenue | $210.6M | $176.3M | $172.2M | $162.3M | $188.3M | $154.2M | $162.3M | $152.6M | $175.4M | $152.6M | $175.4M | $130.5M |
| Gross profit | $79.2M | $59.5M | $60.6M | $62.9M | $84.8M | $57.1M | $60.8M | $51.8M | $73.2M | $51.8M | $73.2M | $50.5M |
| Research & development | $16.2M | $15.0M | $15.4M | $13.2M | $11.9M | $16.0M | $21.4M | $18.4M | $19.4M | $18.4M | $19.4M | $31.9M |
| Sales, general & admin | $47.8M | $39.1M | $42.1M | $45.9M | $37.7M | $43.0M | $40.5M | $33.2M | $43.4M | $43.2M | $44.5M | $35.8M |
| Total operating expenses | $62.2M | $52.0M | $71.5M | $71.5M | $61.2M | $74.5M | $73.2M | $65.2M | $81.2M | $65.2M | $81.2M | $90.7M |
| Operating income | $17.0M | $7.5M | −$10.8M | −$8.6M | $23.6M | −$17.3M | −$12.4M | −$13.4M | −$8.0M | −$13.4M | −$8.0M | −$40.2M |
| Interest income | $1.5M | $2.5M | $1.6M | $2.0M | $1.4M | $1.3M | $406,000 | $544,000 | $525,000 | $542,000 | $29,000 | $103,000 |
| Interest expense | $6.5M | $7.3M | $7.8M | $7.9M | $8.0M | $8.1M | $8.4M | $8.9M | $9.2M | $8.9M | $9.2M | $7.9M |
| Income before taxes | $7.8M | −$2.7M | −$17.5M | −$16.5M | $18.8M | −$21.8M | −$24.3M | −$23.1M | −$18.6M | −$23.1M | −$18.6M | −$49.7M |
| Income taxes | $7.0M | $174,000 | −$2.4M | −$4.0M | $2.4M | −$2.6M | −$6.7M | −$5.6M | −$7.8M | −$5.6M | −$7.8M | −$13.0M |
| Net income | $798,000 | −$2.9M | −$15.1M | −$12.5M | $16.4M | −$19.2M | −$17.6M | −$17.5M | −$10.8M | −$17.5M | −$10.8M | −$36.7M |
| EBITDA | $34.5M | $22.6M | $8.7M | $10.3M | $46.8M | $6.2M | $5.0M | $7.0M | $11.9M | $7.5M | $12.8M | −$19.2M |
| EPS (diluted) | $0.18 | $0.27 | $0.16 | $0.26 | $0.47 | $0.06 | $0.07 | $0.04 | $0.23 | −$0.26 | −$0.42 | −$0.24 |
| Gross margin | 27.3% | 25.2% | 26.0% | 27.9% | 31.0% | 27.0% | 27.3% | 25.3% | 29.5% | 25.3% | 29.5% | 27.9% |
| Operating margin | 5.9% | 3.2% | −4.6% | −3.8% | 8.6% | −8.2% | −5.6% | −6.6% | −3.2% | −6.6% | −3.2% | −22.2% |
| Net margin | 0.3% | −1.2% | −6.5% | −5.6% | 6.0% | −9.1% | −7.9% | −8.6% | −4.3% | −8.6% | −4.3% | −20.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MRCY's financial statements (latest annual report filed August 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MRCY financial results
In fiscal year 2026 (ended June 30, 2026), Mercury Systems reported revenue of $983.6 million, up 7.9% from the year before. It had a net loss of $29.7 million, a net profit margin of −3.0%. Diluted earnings per share came to $0.87. Over five years revenue grew at an average rate of 1.3% a year.
See the MRCY stock overview for the latest quote and news, or the MRCY chart for price history and technical indicators.
MRCY income statement FAQ
What is Mercury Systems's annual revenue?
Mercury Systems reported total revenue of $983.6 million for fiscal year 2026, which ended on June 30, 2026. That was up 7.9% from $912.0 million the previous year.
Is Mercury Systems profitable?
No. Mercury Systems reported a net loss of $29.7 million in fiscal 2026, a net profit margin of −3.0%; its operating margin was 2.1%.
What is Mercury Systems's gross margin?
Mercury Systems's gross margin was 24.6% in fiscal 2026: for every $100 of revenue, Mercury Systems kept $25 after the direct cost of its products and services.
How much does Mercury Systems spend on research and development?
Mercury Systems spent $59.7 million on research and development in fiscal 2026, 6.1% of revenue.
How fast is Mercury Systems growing?
Revenue grew 1.3% a year on average over the last five fiscal years, from $924.0 million to $983.6 million.
What are Mercury Systems's earnings per share?
Mercury Systems earned $0.87 per diluted share in fiscal 2026, compared with $0.64 a year earlier.
When will Mercury Systems report its next earnings?
Mercury Systems is expected to report results for the quarter ending September 30, 2026 on November 10, 2026 after the market closes.
When does Mercury Systems's fiscal year end?
Mercury Systems's fiscal year ends in June. The latest annual report covers the year ended June 30, 2026 and was filed on August 18, 2026.