Logo

CMTL

Comtech Telecommunications Corp.

CMTL

Comtech Telecommunications Corp. • NASDAQ
$3.06 ▲ 0.99% (+0.03)
Market Cap $89.98 M
52w High $4.88
52w Low $1.19
Dividend Yield 0%
P/E -0.44
Volume 94.47K
Outstanding Shares 29.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $130.367M ▲ $38.812M ▼ $7.91M ▼ 6.067% ▼ $-0.39 ▲ $29.264M ▼
Q3-2025 $126.787M ▲ $40.477M ▼ $33.934M ▲ 26.765% ▲ $-0.49 ▲ $52.81M ▲
Q2-2025 $126.574M ▲ $43.997M ▼ $-48.739M ▲ -38.506% ▲ $-0.76 ▲ $-30.877M ▲
Q1-2025 $115.8M ▼ $143.686M ▲ $-148.407M ▼ -128.158% ▼ $-5.293 ▼ $-126.618M ▼
Q4-2024 $126.191M $31.902M $-77.145M -61.134% $-3.5 $-76.535M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $40.019M ▲ $740.835M ▼ $446.868M ▼ $293.967M ▲
Q3-2025 $28.434M ▲ $751.144M ▼ $465.639M ▼ $285.505M ▲
Q2-2025 $26.666M ▼ $770.561M ▼ $519.536M ▲ $251.025M ▼
Q1-2025 $29.644M ▼ $793.203M ▼ $494.139M ▲ $299.064M ▼
Q4-2024 $32.433M $912.434M $426.105M $486.329M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $7.91M ▼ $11.447M ▲ $-2.036M ▲ $2.174M ▲ $11.585M ▲ $9.411M ▲
Q3-2025 $33.934M ▲ $2.301M ▲ $-2.461M ▼ $1.928M ▲ $1.768M ▲ $-160K ▲
Q2-2025 $-48.739M ▲ $-234K ▲ $-1.653M ▲ $-1.091M ▼ $-2.978M ▼ $-1.887M ▲
Q1-2025 $-148.407M ▼ $-21.806M ▼ $-2.415M ▲ $21.432M ▼ $-2.789M ▼ $-24.221M ▼
Q4-2024 $-77.145M $-16.611M $-4.179M $26.031M $5.241M $-20.79M

Revenue by Products

Product Q4-2021Q1-2022Q2-2022Q3-2022
Commercial Solutions Segment
Commercial Solutions Segment
 $60.00M ▲$50.00M ▼$50.00M ▲$50.00M ▲
Government Solutions Segment
Government Solutions Segment
 $10.00M ▲$10.00M ▲$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly flat over the last few years with a slight downward tilt, suggesting a business that is not yet in a clear growth phase. Gross profits are positive but not strong enough to cover all operating costs, which has pushed operating results into loss territory again after a brief period of profitability. Net income has been negative each year, and the most recent year shows a clearly larger loss per share, signaling higher restructuring costs, execution issues, or pricing and cost pressure. Overall, the income statement reflects a company in transition that has not yet converted its technology and contracts into consistent, sustainable earnings.

Balance Sheet

Balance Sheet The balance sheet shows a reasonable asset base but a gradual erosion in equity over time, consistent with repeated losses. Debt levels have stayed broadly similar, which means leverage has effectively crept higher as equity has come down. Cash holdings are relatively modest, leaving less cushion if the business hits further bumps or if the transformation takes longer than expected. While the balance sheet is not extreme, the margin for error is narrowing, making successful execution of the strategy more important.

Cash Flow

Cash Flow Cash generation has been weak. Operating cash flow has hovered around breakeven and slipped into negative territory recently, which means the core business is not yet self-funding. Free cash flow has been consistently negative, even though capital spending is not particularly heavy. This pattern suggests that working capital swings, restructuring, or limited pricing power are dragging on cash. Until operating cash flows turn reliably positive, the company will be more dependent on its balance sheet and external financing to support its strategy and R&D efforts.

Competitive Edge

Competitive Edge Comtech operates in specialized niches—satellite and space communications, secure military links, and public safety networks—where reliability and long-term relationships matter more than pure volume. Its strengths include deep technical know‑how, long history with government and defense clients, and integrated solutions like NG911 and secure troposcatter systems that are hard to replace quickly. At the same time, the company faces intense competition from larger defense and telecom equipment players, fast-moving satellite innovators, and shifting government budgets. Its ongoing restructuring into a more focused “One Comtech” and potential shift to a pure-play satellite and space model introduce both opportunity (sharper positioning) and risk (execution missteps, customer disruption).

Innovation and R&D

Innovation and R&D The company appears to be genuinely innovation‑driven. Platforms like ELEVATE 2.0, advanced troposcatter systems, and its NG911 and location-based services offerings show meaningful engineering depth and a clear view of where communications technology is heading—toward cloud-native, software-defined, multi-orbit, and highly resilient networks. The EVOKE innovation foundry and the push to unify capabilities under “One Comtech” suggest a deliberate effort to turn scattered technologies into more scalable platforms. The main risk is not the lack of ideas but the ability to commercialize them quickly and profitably, especially while under financial pressure and possibly divesting or reshaping parts of the business.

Summary

Comtech looks like a technically strong, niche communications player going through a demanding transition. It has solid technology, entrenched positions in mission-critical markets, and a clear strategic intent to focus on satellite and secure communications, but its financials currently show persistent losses, pressured margins, and weak cash generation. The balance sheet still provides some support, though not unlimited, putting a premium on execution quality. Future performance will largely hinge on whether management can simplify the business, grow high‑value platforms like ELEVATE and NG911, and turn long-standing relationships and innovation into steadier profits and positive cash flow. Uncertainty is high because the company is trying to transform itself while navigating competitive, budget, and technology shifts at the same time.

NEWS

November 10, 2025 · 4:25 PM UTC

Comtech Announces Financial Results for Fourth Quarter and Fiscal Year 2025

Read more

November 10, 2025 · 4:10 PM UTC

Allerium Secures Long-Term Agreement With Leading U.S. Wireless Service Provider

Read more

November 10, 2025 · 4:05 PM UTC

Comtech Rebrands Terrestrial & Wireless Networks Segment as Allerium

Read more

November 5, 2025 · 4:30 PM UTC

Comtech To Host Fourth Quarter and Fiscal Year 2025 Earnings Conference Call

Read more

September 10, 2025 · 9:00 AM UTC

Comtech's SLM-5650B Becomes First Sovereign-certified Modem to Operate on SES's O3b mPOWER MEO Satellite Constellation

Read more