Comtech Q3 net loss widens to $14.5M; secures $40M capital, covenants suspended

COMTECH TELECOMMUNICATIONS CORP /DE/

2025-Q3 EPS reported -$6.56 vs consensus -$0.45 ▼ miss (-1361.7%)

Net sales $126.8M (-1.0% YoY); net loss $14.5M vs $1.0M loss a year ago; operating loss narrows to $1.5M.
Adjusted EBITDA $12.6M (9.9% margin); GAAP operating cash flow $2.3M vs -$3.8M YoY.
Gross bookings $107.4M (0.85x) after $36.4M debooking on lost U.S. Army GFSR contract.
Transformation: ceased UK mfg, cut 70+ products, reduced workforce 15%, annualized labor savings ~$33M.
Amended credit facilities waive breaches; $40M capital infusion; liquidity ~$27.3M; covenant testing suspended.

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