UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 0-23599 ________________________________________________________________ ...

| --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | FIRST QUARTER FISCAL YEAR 2023 FINANCIAL RESULTS | | | | | | | | | | | | Mark Aslett President and CEO | | | | | | Michael Ruppert Executive Vice President and CFO | | | | | | November 1, 2022, 5:00 pm ET | | | | | | Webcast login at www.mrcy.com/investor Webcast replay available by 7:00 p.m. ET ...

Financial Data and Key Metrics Changes - Bookings increased by 34% year-over-year in Q1 2023, with a book-to-bill ratio of 1.17, compared to 0.89 in Q1 2022 [6][29] - Total revenue rose by 1% year-over-year to $228 million, exceeding guidance [30] - Adjusted EBITDA for Q1 was $31.2 million, down 19% year-over-year, with adjusted EBITDA margins at 13.7% [9][31] - Free cash flow was an outflow of $73 million, expected to improve in Q2 and throughout the second half of fiscal 2023 [9][40] Business Line Data and Key Metrics Changes - Organic revenue decreased by 4% year-over-year, with expectations for positive growth in Q2 [8] - Major revenue programs included F-35, LTAMDs, Aegis, F-18, and SEWIP [9] - Adjusted EBITDA margins decreased primarily due to a smaller proportion of higher-margin production revenue [30] Market Data and Key Metrics Changes - Backlog grew by 22% year-over-year, reaching a record $1.08 billion [29] - The company anticipates strong bookings and improved visibility into revenue for the remainder of fiscal 2023 [29][44] Company Strategy and Development Direction - The company is optimistic about entering a multiyear period of accelerating growth and profitability, similar to the post-sequestration period in 2013 [11][15] - The strategic focus includes enhancing procurement and pricing strategies to mitigate inflationary pressures [54][70] - The company is positioned to benefit from increased defense spending and supply chain improvements [18][49] Management's Comments on Operating Environment and Future Outlook - Management noted that current challenges are supply and timing-related rather than demand-related, with expectations for improved conditions in the second half of fiscal 2023 [10][14] - The geopolitical environment is viewed as challenging, with potential for increased defense spending [16][18] - Management expects to see a return to organic growth and improved cash flow as supply chain issues subside [14][40] Other Important Information - The company has implemented the 1MPACT initiative to streamline operations and improve margins [24][70] - Significant investments in working capital have been made to support performance obligations and mitigate supply chain risks [33][34] Q&A Session Summary Question: Understanding pricing actions and their impact on gross margins - Management discussed initiatives to improve procurement and pricing to offset inflationary pressures, which have been successful [54][56] Question: Concerns about customer payment behavior - Management expressed confidence in the collectibility of receivables, attributing delays to supply chain challenges rather than asset quality [57][58] Question: M&A environment and return profiles - Management acknowledged changes in the M&A environment due to rising rates but emphasized a disciplined approach to acquisitions [67][69] Question: Successes and challenges of the 1MPACT initiative - Management highlighted achievements in procurement and digital transformation, while noting that benefits are not yet fully realized due to supply chain challenges [70][72] Question: Dynamics of customer payment holdbacks - Management explained that holdbacks were observed at the end of the quarter, influenced by timing of orders and customer behaviors [75][76]

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . COMMISSION FILE NUMBER 0-23599 MERCURY SYSTEMS, INC. (Exact name of registrant as specified in its charter) Massachusetts 04-2741391 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED July 1, 2022 OR (State or other jurisdiction of incorpora ...

Mercury Systems, Inc. (NASDAQ:MRCY) Q4 2022 Earnings Conference Call August 2, 2022 5:00 PM ET Company Participants Michael Ruppert - Executive Vice President and Chief Financial Officer Mark Aslett - President and Chief Executive Officer Conference Call Participants Pete Skibitski - Alembic Global Advisors Peter Arment - Baird Equity Research Seth Seifman - JPMorgan Chase & Co. Jonathan Ho - William Blair & Company LLC Austin Moeller - Canaccord Genuity Corp. Michael Ciarmoli - Truist Securities, Inc. Shei ...

| --- | --- | --- | |------------------------------------------------------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | FOURTH QUARTER AND FISCAL YEAR 2022 FINANCIAL RESULTS | | | | | | | | Mark Aslett President and CEO | | | | Michael Ruppert Executive Vice President and CFO | | | | August 2, 2022, 5:00 pm ET | | | | Webcast login at www.mrcy.com/investor Webcast replay available by 7:00 p.m. ET August 2, 2022 | | | Forward-looking safe harbor statement This ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 1, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 0-23599 ________________________________________________________________ MERCU ...

Mercury Systems, Inc. (NASDAQ:MRCY) Q3 2022 Earnings Conference Call May 3, 2022 5:00 PM ET Company Participants Michael Ruppert - Executive Vice President & Chief Financial Officer Mark Aslett - President & Chief Executive Officer Conference Call Participants Seth Seifman - JPMorgan Peter Arment - Baird Pete Skibitski - Alembic Global Jonathan Ho - William Blair Ken Herbert - RBC Michael Ciarmoli - Truth Securities Austin Moeller - Canaccord Christopher Rieger - Berenberg Sheila Kahyaoglu - Jefferies LLC O ...

| --- | --- | --- | --- | |---------------------------------------------------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | THIRD QUARTER FISCAL YEAR 2022 FINANCIAL RESULTS | | | | | | | | | | Mark Aslett President and CEO | | | | | Michael Ruppert Executive Vice President and CFO | | | | | May 3, 2022, 5:00 pm ET | | | | | Webcast login at www.mrcy.com/investor Webcast replay available by 7:00 p.m. ET May 3, 2022 | | | | Fo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER: 0-23599 ________________________________________________________________ MERCURY SYSTEMS, INC. FORM 10-Q ________________________________________________________________ (Exact name of registrant as specified in its charter) ________________________________________________________________ ☒ ...