Jul 2026 (Q4 FY26) — Oct 14, 2026
Comtech Q4 FY26 — Strategic Transformation and Allerium Focus
Read the full callComtech (CMTL) earnings
- Jul 2026
- Jul 2026 (Q4 FY26)
- Jul 2026
Comtech earnings: last reported Wed, 14 Oct 2026, for the quarter ended Jul 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | Quarterly, as filed | Quarter to Jul 2026 | Not in the filed figures for the quarter to jul 2026. No older figure is substituted. | ||
| Operating margin | Operating profit / revenue | Quarter to Jul 2026 | Not in the filed figures for the quarter to jul 2026. No older figure is substituted. | ||
| Net profit | -3.2 | −140.5% YoY | Quarterly, as filed | Quarter to Jul 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
2 targets tracked, none judged yet · 2 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Backlog conversion to revenue | approximately 40% | Jul 2026 | we're expecting that about 40% of that backlog is going to turn to revenue inside of fiscal '27. | New |
2 of COMTECH TELECOMMUNICATIONS CORP /DE/'s 2 targets are still open. See which are on track and which have gone quiet. The 1 above are the free sample; 1 more target is in the full ledger.
Claimed
- Achieved positive operating cash flow for six consecutive quarters, totaling over $50 million since January 2025.
- Increased liquidity to $61.3 million at fiscal year-end 2026, the highest in recent history.
- Secured a multiyear contract extension valued over $130 million from a largest customer for Allerium.
- Improved fiscal 2026 gross margin to 38.9% from 31.6% in fiscal 2025 for continuing operations.
- Reported fiscal 2026 book-to-bill ratio of 1.06, with funded backlog growing to $520.4 million.
Qualified
- Net sales for continuing operations decreased to $249.6 million in FY26 from $300.9 million in FY25, primarily due to the wind-down of legacy U.S. Army contracts.
- GAAP operating loss for continuing operations was $18.2 million in FY26, despite improvement from $29.9 million in FY25.
- Total interest expense across continuing and discontinued operations was $48.3 million in FY26, reflecting a shift to non-cash PIK interest and make-whole adjustments.
- The second half of FY26 bookings was lighter than the first, though the book-to-bill ratio remained above 1.
- Anticipates $13 million to $15 million in transition-related costs, mostly in FY27 and some in FY28, to align operations post-divestiture.
Price
$1.37 −1.44% · −$0.02
Performance −53.7% 1Y
1Y: $2.96 on 17 Oct 2025 → $1.37. High $5.98 (16 Jan 2026), low $1.18 (8 Oct 2026).
- Previous close
- $1.39
- 52-week range
- $1.18 – $5.98
- One year
- −55.37%
Overview
- Symbol
- CMTL
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
2 targets tracked, none judged yet · 2 open · verdicts reflect calls analysed to Jul 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Backlog conversion to revenue | approximately 40% | Jul 2026 | we're expecting that about 40% of that backlog is going to turn to revenue inside of fiscal '27. | New |
Claimed
- Achieved positive operating cash flow for six consecutive quarters, totaling over $50 million since January 2025.
- Increased liquidity to $61.3 million at fiscal year-end 2026, the highest in recent history.
- Secured a multiyear contract extension valued over $130 million from a largest customer for Allerium.
- Improved fiscal 2026 gross margin to 38.9% from 31.6% in fiscal 2025 for continuing operations.
- Reported fiscal 2026 book-to-bill ratio of 1.06, with funded backlog growing to $520.4 million.
Qualified
- Net sales for continuing operations decreased to $249.6 million in FY26 from $300.9 million in FY25, primarily due to the wind-down of legacy U.S. Army contracts.
- GAAP operating loss for continuing operations was $18.2 million in FY26, despite improvement from $29.9 million in FY25.
- Total interest expense across continuing and discontinued operations was $48.3 million in FY26, reflecting a shift to non-cash PIK interest and make-whole adjustments.
- The second half of FY26 bookings was lighter than the first, though the book-to-bill ratio remained above 1.
- Anticipates $13 million to $15 million in transition-related costs, mostly in FY27 and some in FY28, to align operations post-divestiture.
The full ledger
Open COMTECH TELECOMMUNICATIONS CORP /DE/’s full ledger
A free account opens 5 company ledgers a month. All 2 tracked commitments, with each call’s wording and source.
Call summaries
Apr 2026 (Q3 FY26) — Jun 15, 2026
Comtech Q3 FY26 — Sale of Satellite & Space to Gilat for $157.5M refocuses company on Alerium public safety
Read the full callEvery analysed call
Comtech earnings calls (CMTL)
Financials
What the filings say
Net profit, year on year: −140% (quarter to jul 2026 against jul 2025).
| Line item | Oct 2024 | Jan 2025 | Apr 2025 | Jul 2025 | Oct 2025 | Jan 2026 | Apr 2026 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 116 | 127 | 127 | 130 | 111 | 107 | 106 | — |
| Operating profit | -129 | -10 | -2 | 2 | -3 | -1 | -3 | -11 |
| Operating margin | −111.5% | −8.1% | −1.2% | 1.4% | −2.5% | −1.2% | −3.0% | — |
| Other income | -1 | 0 | 1 | -0 | 0 | 0 | -0 | -0 |
| Interest | 10 | 11 | 13 | -14 | 12 | 11 | 12 | -13 |
| Profit before tax | -146 | -50 | 32 | 8 | -15 | -14 | -2 | 14 |
| Tax rate | −1.5% | 1.9% | −5.6% | 6.6% | −2.9% | −0.1% | −58.0% | −6.4% |
| Net profit | -148 | -49 | 34 | 8 | -16 | -14 | -3 | -3 |
| EPS ($ per share) | -5.29 | -0.76 | 0.49 | — | -0.67 | -0.68 | -0.47 | — |
| Line item | Jul 2019 | Jul 2020 | Jul 2021 | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 |
| Reserves | 420 | 417 | 333 | 279 | 239 | 104 | -7 | -43 |
| Total liabilities | 353 | 380 | 492 | 403 | 446 | 426 | 448 | 435 |
| Fixed assets | 28 | 27 | 35 | 50 | 53 | 47 | 28 | 31 |
| Total assets | 888 | 930 | 993 | 974 | 996 | 793 | 742 | 696 |
| Line item | Jul 2019 | Jul 2020 | Jul 2021 | Jul 2022 | Jul 2023 | Jul 2024 | Jul 2025 | Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 68 | 53 | -41 | 2 | -4 | -54 | -8 | 37 |
| Cash from investing | -45 | -20 | -15 | -20 | -18 | 20 | -9 | -6 |
| Cash from financing | -21 | -30 | 39 | 8 | 20 | 48 | 24 | -33 |
| Net cash flow | 2 | 2 | -17 | -9 | -3 | 13 | 8 | -1 |
| Capital expenditure | -9 | -7 | -16 | -20 | -18 | -13 | -8 | -15 |
| Free cash flow | 59 | 46 | -57 | -18 | -23 | -68 | -17 | 22 |
CMTL revenue by segment
| Segment | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Allerium | — | — | — | — | — | 50% | 53% | 53% | — |
| Satellite and Space Communications | — | — | — | — | 53% | 50% | 47% | 47% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q4 FY2026 · share of revenue
- Total International Sales 90% ↑ 74 pt
- US Government 48% ↑ 12 pt
- United States Domestic -38% ↓ 86 pt
As CMTL cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
43 filings between Nov 7, 2025 and Sep 30, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$520
1 sale by 1 insider
Compensation
not trading decisions- 7
- Award — granted as compensation
- 16
- Option exercise — converted options into shares
- 19
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Gizinski Daniel | — | $520 | Jun 18, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 30, 2026 | Robertson Jeffery Paul President, Allerium Segment | Option exercise | 4,906 | — |
| Sep 30, 2026 | Gizinski Daniel President, S&S Comm. Segment | Tax withheld | 4,011 | $5.5K |
| Sep 30, 2026 | Gizinski Daniel President, S&S Comm. Segment | Option exercise | 8,893 | — |
| Sep 30, 2026 | Robertson Jeffery Paul President, Allerium Segment | Tax withheld | 2,497 | $3.4K |
| Sep 30, 2026 | Walther Donald E. Chief Legal Officer | Tax withheld | 5,446 | $7.5K |
| Sep 30, 2026 | Walther Donald E. Chief Legal Officer | Option exercise | 15,946 | — |
| Sep 30, 2026 | BONDI MICHAEL Chief Financial Officer | Tax withheld | 9,065 | $12.4K |
| Sep 30, 2026 | BONDI MICHAEL Chief Financial Officer | Option exercise | 17,756 | — |
| Aug 11, 2026 | Gizinski Daniel President, S&S Comm. Segment | Option exercise | 1,961 | — |
| Aug 11, 2026 | Walther Donald E. Chief Legal Officer | Tax withheld | 2,010 | $3.5K |
| Aug 11, 2026 | Walther Donald E. Chief Legal Officer | Option exercise | 5,883 | — |
| Aug 11, 2026 | BONDI MICHAEL Chief Financial Officer | Tax withheld | 5,269 | $9.1K |
| Aug 11, 2026 | Gizinski Daniel President, S&S Comm. Segment | Tax withheld | 885 | $1.5K |
| Aug 11, 2026 | BONDI MICHAEL Chief Financial Officer | Option exercise | 10,321 | — |
| Aug 10, 2026 | Gizinski Daniel President, S&S Comm. Segment | Tax withheld | 127 | $218 |
| Aug 10, 2026 | BONDI MICHAEL Chief Financial Officer | Option exercise | 1,196 | — |
| Aug 10, 2026 | BONDI MICHAEL Chief Financial Officer | Tax withheld | 611 | $1.1K |
| Aug 10, 2026 | Gizinski Daniel President, S&S Comm. Segment | Option exercise | 280 | — |
| Jul 31, 2026 | Gizinski Daniel President, S&S Comm. Segment | Tax withheld | 1,161 | $2.0K |
| Jul 31, 2026 | Gizinski Daniel President, S&S Comm. Segment | Option exercise | 2,573 | — |
| Jun 18, 2026 | Gizinski Daniel President, S&S Comm. Segment | Sale | 200 | $520 |
| Jun 3, 2026 | Robertson Jeffery Paul President, Allerium Segment | Option exercise | 38,910 | — |
| Jun 3, 2026 | Robertson Jeffery Paul President, Allerium Segment | Tax withheld | 19,798 | $111.7K |
| Apr 28, 2026 | Walther Donald E. Chief Legal Officer | Tax withheld | 9,899 | $34.8K |
| Apr 28, 2026 | Walther Donald E. Chief Legal Officer | Option exercise | 1,685 | — |
| Apr 28, 2026 | Walther Donald E. Chief Legal Officer | Tax withheld | 576 | $2.0K |
| Apr 28, 2026 | Walther Donald E. Chief Legal Officer | Option exercise | 28,986 | — |
| Mar 24, 2026 | Sprung Lloyd A. Director | Award | 36,620 | $0 |
| Mar 24, 2026 | RAYMOND MARY JANE Director | Award | 36,620 | $0 |
| Mar 24, 2026 | Crawford Bruce T Director | Award | 36,620 | $0 |
| Mar 24, 2026 | Hildebrandt Michael Director | Award | 36,620 | $0 |
| Feb 4, 2026 | Gizinski Daniel President, S&S Comm. Segment | Tax withheld | 460 | $2.4K |
| Feb 4, 2026 | Gizinski Daniel President, S&S Comm. Segment | Option exercise | 1,019 | — |
| Jan 23, 2026 | Traub Kenneth Chairman, President and CEO | Tax withheld | 22,439 | $131.7K |
| Jan 23, 2026 | Traub Kenneth Chairman, President and CEO | Option exercise | 54,645 | — |
| Jan 10, 2026 | Robertson Jeffery Paul President, Allerium Segment | Tax withheld | 2,268 | $12.4K |
| Jan 10, 2026 | Robertson Jeffery Paul President, Allerium Segment | Option exercise | 4,036 | — |
| Nov 7, 2025 | Gizinski Daniel President, S&S Comm. Segment | Tax withheld | 539 | $1.6K |
| Nov 7, 2025 | BONDI MICHAEL Chief Financial Officer | Tax withheld | 2,561 | $7.8K |
| Nov 7, 2025 | BONDI MICHAEL Chief Financial Officer | Award | 5,015 | — |
| Nov 7, 2025 | Walther Donald E. Chief Legal Officer | Award | 2,605 | — |
| Nov 7, 2025 | Walther Donald E. Chief Legal Officer | Tax withheld | 868 | $2.6K |
| Nov 7, 2025 | Gizinski Daniel President, S&S Comm. Segment | Award | 1,193 | — |
| Sep 30, 2025 | Robertson Jeffery Paul President, T&W Segment | Option exercise | 4,907 | — |
| Sep 30, 2025 | BONDI MICHAEL Chief Financial Officer | Option exercise | 17,755 | — |
| Sep 30, 2025 | BONDI MICHAEL Chief Financial Officer | Tax withheld | 9,064 | $23.4K |
| Sep 30, 2025 | Walther Donald E. Chief Legal Officer | Option exercise | 15,946 | — |
| Sep 30, 2025 | Walther Donald E. Chief Legal Officer | Tax withheld | 5,311 | $13.7K |
| Sep 30, 2025 | Robertson Jeffery Paul President, T&W Segment | Tax withheld | 2,492 | $6.4K |
| Sep 30, 2025 | Gizinski Daniel President, S&S Comm. Segment | Option exercise | 8,893 | — |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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