Comtech at Investor Day expects FY23 revenue ~$542M, Adj. EBITDA $49M; targets 11-12% revenue growth YoY

COMTECH TELECOMMUNICATIONS CORP /DE/

Q3 FY2023 results: revenues, Adjusted EBITDA, and margins met or beat guidance; sequential growth maintained.
FY23 guidance midpoint: revenues $542M, Adjusted EBITDA $49M (9% margin); on pace for 11-12% revenue growth YoY and 22-26% Adj. EBITDA growth YoY.
Illustrative scenarios show potential for 15% Adjusted EBITDA margin and $33-49M profit improvement from lean initiatives.
CapEx expected to decline in FY24-FY26 as large projects wrap; secured leverage ratio targeted at 2.0x-2.5x range.
New EVOKE innovation foundry launched to drive transition to software, solutions, and insights; refreshed leadership team.

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