Mercury Systems(US:MRCY) Globenewswireยท2025-02-04 21:01Core Insights - Mercury Systems, Inc. reported solid financial results for the second quarter of fiscal year 2025, with revenues and adjusted EBITDA showing significant year-over-year growth [1][2][4] Financial Performance - Bookings for the quarter reached $242.4 million, resulting in a trailing-twelve-month book-to-bill ratio of 1.12 [2][3] - Revenue for the second quarter was $223.1 million, reflecting a 13% increase compared to $197.5 million in the same quarter of fiscal 2024 [2][3] - Adjusted EBITDA was $22.0 million, a substantial improvement from $(21.3) million in the prior year [5][21] - Free cash flow reached a record $81.9 million, up from $37.5 million year-over-year [2][6] Backlog and Operational Efficiency - The total backlog as of December 27, 2024, was $1.4 billion, an increase of approximately $80.0 million from the previous year [7][9] - Operating expenses were reduced, contributing to increased positive operating leverage [2][6] Net Loss and Earnings - The GAAP net loss for the quarter was $17.6 million, or $0.30 per share, compared to a net loss of $45.6 million, or $0.79 per share, in the same quarter of fiscal 2024 [4][18] - Adjusted earnings per share (EPS) improved to $0.07 from $(0.42) in the prior year [4][41] Cash Flow and Liquidity - Cash flows from operating activities were $85.5 million, compared to $45.5 million in the same quarter of fiscal 2024 [6][20] - The company ended the quarter with cash and cash equivalents of $242.6 million, up from $180.5 million at the end of the previous fiscal year [16][20]