Comtech (CMTL) Q3 FY26 earnings call

A transformation-milestone call: Comtech is divesting most of Satellite & Space to reinvent itself as a pure-play Alerium public-safety software company, redirecting sale proceeds to deleverage a still-heavy balance sheet. In-quarter revenue softened on deliberate low-margin runoff, but margins, cash flow and S&S order intake all inflected upward, framing the pivot as executed from a position of strength rather than distress.