Mercury Systems Inc 2026年季度报告

FORM 10-Q PARTI.FINANCIAL INFORMATION Item1.Consolidated Financial Statements (unaudited) Consolidated Balance Sheets as of December26, 2025 and June 27, 2025 PART I. FINANCIAL INFORMATION MERCURY SYSTEMS, INC.CONSOLIDATED BALANCE SHEETS(In thousands, except share and per share data)(Unaudited) MERCURY SYSTEMS, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands)(Unaudited) MERCURY SYSTEMS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Amounts in thousands except per share data) A.Description of Business Mercury Systems, Inc. (the Company) is a global technology company that delivers mission-critical processing to the edge—where signals and data are collected—to solve the most pressing aerospace and defense challenges. Mercury’s products and solutionsare deployed in more than 300 programs, and across 35 countries. The Company is headquartered in Andover, Massachusetts, and has The Mercury Processing Platform is the unique advantage the Company provides to its customers. It comprises the innovativetechnologies the Company has developed and acquired for more than 40 years that bring integrated, mission-critical processing to theedge. The Company's processing platform spans the full breadth of signal processing—from radio frequency (“RF”) front end to thehuman-machine interface—to rapidly convert meaningful data, gathered in the most remote and hostile environments, into critical B.Summary of Significant Accounting Policies BASISOFPRESENTATION The accompanying consolidated financial statements have been prepared by the Company in accordance with GenerallyAccepted Accounting Principles (“GAAP”) in the United States of America for interim financial information and with the instructionsto the Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in annualconsolidated financial statements have been condensed or omitted pursuant to those rules and regulations; however, in the opinion ofmanagement the financial information reflects all adjustments, consisting of adjustments of a normal recurring nature, necessary for The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompanytransactions and balances have been eliminated in consolidation. All references to the second quarter of fiscal 2026 are to the quarter ended December 26, 2025. There were 13 weeks during thesecond quarters ended December 26, 2025 and December 27, 2024, respectively. There were 26 weeks during the six months ended USEOFESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial FOREIGNC Local currencies are the functional currency for the Company’s subsidiaries in Switzerland, the United Kingdom, and Spain. Theaccounts of foreign subsidiaries are translated using exchange rates in effect at period-end for assets and liabilities and at averageexchange rates during the period for results of operations. The related translation adjustments are reported in Accumulated other ACCOUNTSR Accounts receivable, net, represents amounts that have been billed and are currently due from customers. The Companymaintains an allowance for credit losses to provide for the estimated amount of receivables that will not be collected. The Companyprovides credit to customers in the normal course of business. The Company performs ongoing credit evaluations of its customers’ the receivable balance. The Company typically invoices a customer upon shipment of the product (or completion of a service) forcontracts where revenue is recognized at a point in time. For contracts where revenue is recognized over time, the invoicing events are ACCOUNTSRECEIVABLESF On August 13, 2024, the Company entered into a $60,000 committed receivables purchase and servicing agreement (“RPSA”).The RPSA has an initial term of two years. Pursuant to the RPSA, the counterparty has committed to purchase receivables from acertain number of agreed upon customers, maintaining a balance of purchased receivables at or below $60,000. Under the RPSA, aportion of the factored receivables is paid by the counterparty in cash and classified as a deferred purchase price receivable, which is Proceeds for amounts factored by the Company are recorded as an increase to cash and a reduction to accounts receivableoutstanding in the Consolidated Balance Sheets. Cash flows attributable to factored receivables are reflected as cash flows fromoperating activities in the Company's Consolidated Statements of Cash Flows. Factoring fees are included as Selling, general andadministrative expenses in the Company's Consolidated Statements of Operations and Comprehensive Loss. The Company isresponsible for collecting customer payments related to factored receivables and will r