Comtech Telecommunications Corp.
- Open
- 1.65
- Day high
- 1.69
- Day low
- 1.65
- Prev close
- 1.65
- Volume
- 81K
- Mkt cap
- $50M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.2
- P/S
- 0.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$520 over the last 3 months (0 open-market buys, 1 sale)
- 🏛Institutions accumulating (13F)
Comtech Telecommunications Corp. (CMTL) is a Technology company listed on NASDAQ. The stock is down 29% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 1 sale (SEC Form 4).
Comtech Telecommunications Corp. (CMTL) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CMTL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 15, 2026 | $-0.27 | $-0.22 | +18.5% | $106M | -3.8% |
| Mar 16, 2026 | $-0.58 | $-0.18 | +69.0% | $107M | -6.2% |
| Jun 9, 2025 | $-0.30 | $-0.18 | +40.0% | $127M | +10.2% |
| Mar 12, 2025 | $-0.57 | $-0.35 | +38.6% | $127M | +4.5% |
| Oct 31, 2024 | $0.05 | $-0.35 | -800.0% | $126M | -2.0% |
| Jun 18, 2024 | $0.08 | $0.20 | +150.0% | $128M | -1.6% |
| Mar 18, 2024 | $0.28 | $-0.15 | -153.6% | $134M | -12.2% |
| Dec 7, 2023 | $0.26 | $0.24 | -7.7% | $152M | +0.0% |
| Jun 8, 2023 | $0.16 | $-0.33 | -306.3% | $136M | -2.8% |
| Mar 9, 2023 | $-0.09 | $-0.23 | -155.6% | $134M | +0.3% |
| Dec 8, 2022 | $-0.08 | $0.16 | +300.0% | $131M | +1.9% |
| Sep 29, 2022 | $-0.07 | $-0.02 | +71.4% | $127M | +3.5% |
CMTL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | Gizinski Danielofficer: President, S&S Comm. Segment | Sell | 200 | $2.60 |
| Jun 5, 2026 | Robertson Jeffery Paulofficer: President, Allerium Segment | Option | 38,910 | — |
| Jun 5, 2026 | Robertson Jeffery Paulofficer: President, Allerium Segment | Tax | 19,798 | $5.64 |
| Apr 29, 2026 | Walther Donald E.officer: Chief Legal Officer | Option | 1,685 | — |
| Apr 29, 2026 | Walther Donald E.officer: Chief Legal Officer | Tax | 9,899 | $3.52 |
| Apr 29, 2026 | Walther Donald E.officer: Chief Legal Officer | Tax | 576 | $3.52 |
| Apr 29, 2026 | Walther Donald E.officer: Chief Legal Officer | Option | 28,986 | — |
| Mar 26, 2026 | Quinlan Mark R.director | Grant | 36,620 | — |
| Mar 26, 2026 | Sprung Lloyd A.director | Grant | 36,620 | — |
| Mar 26, 2026 | Crawford Bruce Tdirector | Grant | 36,620 | — |
| Mar 26, 2026 | Waldman Lawrencedirector | Grant | 36,620 | — |
| Mar 26, 2026 | Hildebrandt Michaeldirector | Grant | 36,620 | — |
| Mar 26, 2026 | RAYMOND MARY JANEdirector | Grant | 36,620 | — |
| Feb 5, 2026 | Gizinski Danielofficer: President, S&S Comm. Segment | Option | 1,019 | — |
| Feb 5, 2026 | Gizinski Danielofficer: President, S&S Comm. Segment | Tax | 460 | $5.29 |
Source: CMTL SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full CMTL insider & 13F page →Comtech Telecommunications Corp. company profile
Overview
Comtech Telecommunications Corp. (NASDAQ:CMTL) is a technology company founded in 1967 and headquartered in Melville, New York. The company has evolved from its origins as a communications equipment manufacturer into a provider of mission-critical satellite and terrestrial communication solutions serving both commercial and government markets. After going public in 1980, Comtech has navigated multiple industry transformations while maintaining its focus on specialized communication technologies. The company is currently undergoing a significant strategic transformation under new leadership, including the potential divestiture of business units as it seeks to optimize its operations and strengthen its financial position.
Business
Comtech operates in the specialized communications equipment industry, developing and manufacturing technologies that enable voice, data, and video transmission across satellite and terrestrial networks. The company's solutions are essential for mission-critical communications in both military and civilian applications. The company operates through two primary business segments. The Satellite and Space Communications segment represents approximately 60% of total revenue and focuses on satellite ground station technologies, including satellite modems that modulate and demodulate signals for transmission over satellite networks, high-power amplifiers that boost signal strength, frequency converters that adjust signal frequencies for different applications, and ruggedized communication equipment designed for harsh military environments. This segment also produces troposcatter communication systems, which use radio waves scattered by atmospheric particles to provide long-range communication without satellites, and electronic warfare equipment used in defense applications. The Terrestrial and Wireless Networks segment accounts for approximately 40% of revenue and specializes in public safety communication technologies. This includes Next Generation 911 (NG-911) systems that enable modern emergency call handling with enhanced location accuracy and multimedia capabilities, traditional 911 call handling platforms that route emergency calls to appropriate response centers, and location-based services that help wireless carriers comply with Federal Communications Commission requirements for emergency call location accuracy. The segment also develops cybersecurity solutions and network management software for communication service providers. Both segments serve distinct but complementary markets, with satellite communications primarily serving government, military, and remote commercial applications, while terrestrial solutions focus on public safety infrastructure and commercial wireless networks.
Revenue model
Comtech generates revenue through multiple business models depending on the segment and customer type. The primary revenue stream comes from product sales of communication equipment, including satellite modems, amplifiers, and emergency communication systems sold to government contractors, system integrators, and communication service providers. These sales typically involve complex, high-value systems with long development cycles. The company also earns significant revenue from service contracts, particularly multi-year maintenance and support agreements for deployed communication systems. The Terrestrial and Wireless segment generates recurring revenue through subscription-based services for 911 call handling and location services provided to state and local governments, as well as wireless carriers. Additionally, Comtech receives revenue from engineering services and custom development projects funded by customers, particularly government agencies requiring specialized communication solutions. Several factors significantly impact the company's profitability margins. Positive margin drivers include the high-value, specialized nature of the products which command premium pricing, long-term service contracts that provide predictable recurring revenue, and customer-funded research and development projects that reduce internal R&D costs. The company's focus on mission-critical applications also provides some pricing power due to the specialized nature and reliability requirements of the solutions. Margin pressures come from several sources, including supply chain constraints and component cost inflation that affect manufacturing costs, the complexity of government contracting which often involves cost overruns on development projects, competitive bidding processes that can pressure pricing, and the need for continuous R&D investment to maintain technological leadership. The company has also faced challenges with project execution, leading to cost overruns on certain development contracts, and maintains high fixed costs due to the specialized engineering talent required for its products.
Competitive moat
Comtech's competitive position is built on several defensive characteristics, though the strength of these moats varies across its business segments. The company benefits from high switching costs in both segments, as customers who deploy Comtech's satellite communication systems or 911 infrastructure face significant costs and complexity in changing providers due to the mission-critical nature of these systems and the extensive integration required. The company possesses specialized technical expertise accumulated over decades in satellite communications and public safety systems, creating barriers for new entrants who would need years to develop similar capabilities. Government contracting relationships provide some competitive advantages through established security clearances, proven track records with defense agencies, and understanding of complex procurement processes. However, Comtech's moat faces several challenges. The company operates in highly competitive markets where larger defense contractors with greater resources compete for the same government contracts. The satellite communications industry is experiencing disruption from new technologies and business models, including low Earth orbit satellite constellations that may reduce demand for traditional ground-based equipment. In the terrestrial segment, cloud-based solutions and software-defined networking are changing how emergency services are delivered, potentially commoditizing some of Comtech's traditional hardware-based offerings. The company's financial constraints have also weakened its competitive position, limiting its ability to invest in R&D at the pace of better-capitalized competitors. The ongoing strategic review and potential divestiture of business units creates uncertainty that may affect customer relationships and employee retention. Overall, while Comtech maintains some competitive advantages in specialized niches, its moat is under pressure from technological change, financial constraints, and larger competitors.
Risks & safety
Comtech faces significant financial challenges that create substantial risk for investors: • Liquidity concerns: Cash position of $26.7 million against current liabilities of $385.3 million, creating a current ratio of 0.75 • Debt burden: Total debt of approximately $225 million with debt-to-equity ratio exceeding 1.0, indicating potential covenant breach risks • Operating losses: Negative EBITDA of -$30.9 million in Q2 2025, with consistent operating losses over recent quarters • Cash burn: Negative free cash flow of -$1.9 million in Q2 2025, though improved from previous quarters • Valuation metrics: Trading at 0.23x book value, suggesting significant market skepticism about asset values and future prospects • Working capital deficit: Current assets insufficient to cover current liabilities, indicating potential operational funding challenges • Covenant risk: Management has indicated potential debt covenant breaches, which could trigger acceleration of debt repayment or additional restrictions The margin of safety appears minimal given the combination of operational losses, high debt levels, and limited cash resources relative to obligations.
Recent development
Over the past few years, Comtech has undergone significant strategic transformation under new leadership. The company implemented the "One Comtech" initiative to consolidate 14 historically separate business units into two focused segments, aiming to eliminate operational silos and improve efficiency. This reorganization was accompanied by a comprehensive strategic review to identify underperforming assets and optimize the business portfolio. In 2024, the company began pursuing strategic alternatives for its Terrestrial and Wireless Networks segment, exploring potential divestiture to focus on becoming a pure-play satellite and space communications company. This strategic pivot reflects management's belief that the terrestrial business, while profitable, may achieve better growth prospects under different ownership while allowing Comtech to concentrate resources on its satellite communications expertise. The company has implemented significant operational improvements including discontinuing over 70 unprofitable product lines in the satellite segment, reducing headcount by more than 10%, and instituting more disciplined purchasing and cost management policies. These efforts aim to improve margins and operational efficiency while focusing on higher-value opportunities. Recent product development highlights include the advancement of next-generation satellite modems, including the EDIM (Enterprise Digital Intermediate Frequency Multi-Carrier) modem and A3M anti-jam modems, representing the company's evolution toward more sophisticated, software-defined communication solutions. In the terrestrial segment, Comtech has continued expanding its Next Generation 911 capabilities and secured significant contracts including a $25 million award and partnerships with major telecommunications providers like Vodafone for international 5G location services.
CMTL company profile · for informational purposes only — not investment advice.
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