Mercury Systems Inc (MRCY) stock falls on Q2 2026 Earnings

Mercury Systems Inc (MRCY) reported Q2 2026 revenue of $232.9 million, up 4.37% year‑over‑year and above the consensus revenue estimate of $215.1 million.

Key operating results:

Gross profit: $60.6 million (-0.32% YoY).

Cost of sales: $172.2 million (+6.12% YoY).

Operating loss of $10.8 million (-12.86% YoY).

Net loss attributable to common shareholders of $15.1 million (-14.13% YoY).

Diluted EPS: -$0.26 (down 13.33% YoY; versus estimate of $0.07).

Cash flow and balance sheet highlights:

Cash from operating activities: $51.6 million (down 39.61% YoY).

Purchases of property, plant and equipment: $5.9 million (capex, up 66.02% YoY).

Cash and cash equivalents: $304.7 million (up 25.62% YoY).

Total liabilities: $982.6 million (up 4.40% YoY).

Market context and reaction:

Stock price change since market close: -2.25%.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Mercury Systems Inc Insider Trading Activity

Mercury Systems Inc insiders have traded $MRCY stock on the open market 16 times in the past 6 months. Of those trades, 0 have been purchases and 16 have been sales.

Here’s a breakdown of recent trading of $MRCY stock by insiders over the last 6 months:

PARTNERS MANAGEMENT, LP JANA has made 0 purchases and 2 sales selling 1,797,000 shares for an estimated $127,589,740.
WILLIAM L BALLHAUS (Chairman, President & CEO) has made 0 purchases and 2 sales selling 23,445 shares for an estimated $1,532,692.
DAVID E. FARNSWORTH (EVP, CFO) has made 0 purchases and 2 sales selling 14,911 shares for an estimated $976,284.
STEVEN RATNER (EVP, CHRO) has made 0 purchases and 3 sales selling 10,416 shares for an estimated $669,971.
STUART KUPINSKY (EVP, CLO & Corp Sec) has made 0 purchases and 2 sales selling 2,402 shares for an estimated $157,268.
DOUGLAS MUNRO (SVP, CAO) has made 0 purchases and 4 sales selling 2,135 shares for an estimated $150,871.
DEBORA A PLUNKETT sold 1,700 shares for an estimated $125,784

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Mercury Systems Inc Hedge Fund Activity

We have seen 161 institutional investors add shares of Mercury Systems Inc stock to their portfolio, and 149 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC removed 2,207,726 shares (-47.0%) from their portfolio in Q3 2025, for an estimated $170,877,992
VICTORY CAPITAL MANAGEMENT INC removed 1,010,980 shares (-57.4%) from their portfolio in Q3 2025, for an estimated $78,249,852
INVESCO LTD. added 943,736 shares (+161.7%) to their portfolio in Q3 2025, for an estimated $73,045,166
PRICE T ROWE ASSOCIATES INC /MD/ added 822,089 shares (+1868.9%) to their portfolio in Q3 2025, for an estimated $63,629,688
JANA PARTNERS MANAGEMENT, LP removed 793,932 shares (-11.8%) from their portfolio in Q3 2025, for an estimated $61,450,336
FIRST TRUST ADVISORS LP added 751,813 shares (+96.3%) to their portfolio in Q3 2025, for an estimated $58,190,326
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. added 552,854 shares (+57.1%) to their portfolio in Q3 2025, for an estimated $42,790,899

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Mercury Systems Inc Government Contracts

We have seen $14,969,371 of award payments to $MRCY over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

CREATE PHASE 1: $9,444,826
NFTE TASK ORDER: $1,100,290
MODULE,MATRIX,SWITC: $1,080,000
NON-RECURRING ENGINEERING (NRE) DVMC-U: $823,251
MOD,ASSY,TUNER,: $508,172

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Mercury Systems Inc Analyst Ratings

Wall Street analysts have issued reports on $MRCY in the last several months. We have seen 4 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Goldman Sachs issued a "Sell" rating on 01/20/2026
Truist Securities issued a "Buy" rating on 10/15/2025
RBC Capital issued a "Outperform" rating on 10/01/2025
Baird issued a "Outperform" rating on 08/12/2025
Raymond James issued a "Strong Buy" rating on 08/12/2025

To track analyst ratings and price targets for Mercury Systems Inc, check out Quiver Quantitative's $MRCY forecast page.

Mercury Systems Inc Price Targets

Multiple analysts have issued price targets for $MRCY recently. We have seen 7 analysts offer price targets for $MRCY in the last 6 months, with a median target of $80.0.

Here are some recent targets:

Noah Poponak from Goldman Sachs set a target price of $55.0 on 01/20/2026
Michael Ciarmoli from Truist Securities set a target price of $100.0 on 10/15/2025
Austin Moeller from Canaccord Genuity set a target price of $88.0 on 10/02/2025
Ken Herbert from RBC Capital set a target price of $90.0 on 10/01/2025
Peter Arment from Baird set a target price of $70.0 on 08/12/2025
Brian Gesuale from Raymond James set a target price of $80.0 on 08/12/2025
Seth Seifman from JP Morgan set a target price of $68.0 on 08/12/2025