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Mercury Systems brings Palantir's Foundry into its factories as $1.6 billion backlog tests execution

8/6/2026

A record $1.6 billion contracted backlog, up 17.9% year-over-year as of March 27, is the figure that frames Mercury Systems' (MRCY) new workflow automation collaboration with Palantir Technologies (PLTR).

Of that total, $891 million represents orders expected to convert to revenue within the next 12 months.

Mercury is integrating its data sources onto Palantir's Foundry platform across two initial workflows covering material planning and manual workload reduction, a direct response to Department of Defense pressure to shorten delivery timelines across the defense industrial base.

Q3 FY2026: the numbers behind the partnership Mercury Systems posted Q3 fiscal 2026 revenue of $235.8 million, up 11.5% YOY and 12.06% above the analyst consensus of $214.1 million.