Mercury Systems, Inc. (NASDAQ:MRCY) Q1 2024 Earnings Conference Call November 7, 2023 5:00 PM ET

Company Participants

Dave Farnsworth - Executive Vice President & Chief Financial Officer

Bill Ballhaus - President & Chief Executive Officer

Conference Call Participants

Ken Herbert - RBC Capital Markets

Michael Ciarmoli - Truist

Sheila Kahyaoglu - Jefferies

Operator

Good day, everyone, and welcome to the Mercury Systems First Quarter Fiscal 2024 Conference Call. Today's call is being recorded.

At this time, for opening remarks and introductions, I'd like to turn the call over to the company's Executive Vice President and Chief Financial Officer, Dave Farnsworth. Please go ahead, Mr. Farnsworth.

Dave Farnsworth

Good afternoon, and thank you for joining us. With me today is our President and Chief Executive Officer, Bill Ballhaus. If you've not received a copy of the earnings press release we issued earlier this afternoon, you can find it on our website at mrcy.com. The slide presentation that Bill and I will be referring to is posted on the Investor Relations section of the website under Events and Presentations.

Turning to Slide 2 in the presentation. I'd like to remind you that today's presentation includes forward-looking statements, including information regarding Mercury's financial outlook, future plans, objectives, business prospects and anticipated financial performance. These forward-looking statements are subject to future risks and uncertainties that could cause our actual results or performance to differ materially.

All forward-looking statements should be considered in conjunction with the cautionary statements on Slide 2 in the earnings press release and the risk factors included in Mercury's SEC filings. I'd also like to mention that in addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP. During our call, we will also discuss several non-GAAP financial measures, specifically adjusted income, adjusted earnings per share, adjusted EBITDA, free cash flow, organic revenue and acquired revenue.

A reconciliation of these non-GAAP metrics is included as an appendix to today's slide presentation and in the earnings press release.

I'll now turn the call over to Mercury's President and CEO, Bill Ballhaus. Please turn to Slide 3.

Bill Ballhaus

Thanks, Dave. Good afternoon, everyone. Thank you for joining our Q1 FY 2024 earnings call. Today I'd like to talk through three topics: first, some introductory comments on our business and results. Second, an update on the progress we are making in each of our four priority areas that we outlined in our last call: delivering predictable performance, building and thriving growth engine, expanding margins and driving improved free cash flow. And third, expectations for our performance both for FY 2024 and longer-term. Then I'll turn it over to Dave, who will walk through our financial results and guidance in more detail.