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Comtech Telecommunications (CMTL) investor relations material
Comtech Telecommunications Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales for Q3 2025 were $126.8M, down 1% year-over-year but up sequentially; gross margin improved to 30.7% from 26.7% sequentially.
Adjusted EBITDA rose to $12.6M from $11.9M year-over-year and $2.9M sequentially; Q3 Adjusted EBITDA margin was 9.9%.
Net loss attributable to common stockholders was $14.5M for Q3 2025, with GAAP EPS net loss of $0.49.
Bookings were $71.0M with a book-to-bill ratio of 0.56x, impacted by a $36.4M debooking from a lost U.S. Army contract.
Transformation plan and cost reductions, including $33M annual labor savings and discontinuation of 70+ products, are progressing.
Financial highlights
Nine-month net sales were $369.2M, down 10.9% year-over-year; gross profit was $87.2M (23.6% margin).
Operating loss for the nine months was $141.0M, compared to operating income of $1.6M last year.
Net loss attributable to common stockholders for the nine months was $192.7M, compared to $34.8M loss last year.
GAAP cash flow from operations was $2.3M in Q3, first positive in eight quarters.
Funded backlog stood at $708.1M at April 30, 2025, down from $798.9M at July 31, 2024.
Outlook and guidance
No specific financial guidance provided for the next quarter due to unpredictable business conditions and ongoing transformation.
Focus remains on returning to positive cash flow and improving gross margins through product rationalization and operational efficiency.
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