Mercury Systems posts record Q3 bookings of $348M, 11.5% revenue growth, and improved adjusted EBITDA.

Mercury Systems reported strong Q3 fiscal 2026 results with record bookings of $348 million, a 73.7% increase year-over-year, and a book-to-bill ratio of 1.48. Revenue rose 11.5% organically to $236 million, while adjusted EBITDA increased 46.2% to $36 million. Despite a GAAP net loss of $3 million, the company’s backlog reached a record $1.6 billion, signaling robust demand and solid execution. Management highlighted better-than-expected growth and margin expansion, with a positive outlook supported by strong bookings and backlog.