Highest-materiality recent filing
Director Bruce T. Crawford resigns from Comtech board effective June 16, 2026
Bruce T. Crawford resigned from the Board effective June 16, 2026.
Comtech sells satellite/space business to Gilat affiliate for $157.5M; amends credit agreements
Base purchase price $157.5M cash; $10M advance paid upon signing; buyer is Wavestream (Gilat affiliate).
Comtech reports Q3 sales down 16.4% to $106M; sells most S&S business for $157.5M
Net loss attributable to common shareholders of $14.3M; includes $10.8M preferred dividends.
Director Bruce T. Crawford resigns from Comtech board effective June 15, 2026
Bruce T. Crawford notified Comtech of his resignation as director, effective on or about June 15, 2026.
Comtech Q2 fiscal 2026: Net sales down 15.6%, gross margin jumps to 33.9%, Adj EBITDA up 214%
Net sales $106.8M, down 15.6% YoY; gross margin improved to 33.9% from 26.7%.
Comtech shareholders elect seven directors and approve all proposals at annual meeting
All seven board nominees elected; votes for ranged from 34.5M to 38.1M.
Director Wendi B. Carpenter to retire from Comtech board at March 2026 annual meeting
Wendi B. Carpenter notified Comtech on Jan 23, 2026 she will retire as director and not stand for re-election at the Fiscal 2025 Annual Meeting on March 9, 2026.
Comtech Q1 FY2026 revenue $111M, gross margin jumps to 33.1%, net loss $19.8M
Consolidated net sales $111.0M, down 4.1% YoY; gross margin 33.1% vs 12.5% a year ago due to inventory write-down reversal and restructuring.
Comtech appoints Mary J. Raymond as independent director
Effective after filing of Q1 FY2026 10-Q (Oct 31, 2025), board expands to eight directors.
Comtech Q4 operating income $1.9M, positive cash flow $11.4M; going concern removed
Q4 net sales $130.4M (+3% YoY); gross margin 31.2% vs 21.5% prior year.
Comtech appoints Lloyd A. Sprung as independent director, effective August 18, 2025
Lloyd Sprung, former UBS Managing Director and Evercore Senior Managing Director, appointed to Board.
Amendments suspend fixed charge, net leverage, and min EBITDA covenant testing until four-quarter period ending Jan 31, 2027.
Comtech Q3 net loss widens to $14.5M; secures $40M capital, covenants suspended
Net sales $126.8M (-1.0% YoY); net loss $14.5M vs $1.0M loss a year ago; operating loss narrows to $1.5M.
Comtech Q2 net loss $48.7M, operating loss $10.3M; secures $40M sub debt, waives covenant defaults
Net sales $126.6M (-5.7% YoY); gross margin 26.7% vs 32.2% prior year; operating loss $10.3M vs profit $3.0M prior year.
Comtech secures $40M subordinated debt, waives credit defaults, exchanges preferred shares
Waived defaults under credit agreement for Q2 fiscal 2025 (Net Leverage and Fixed Charge covenants).
Comtech appoints former Globalstar CEO David B. Kagan as independent director
David B. Kagan appointed to Comtech board effective Feb 13, 2025; will serve on Audit Committee.
All six director nominees elected: Traub (39.1M), Carpenter (35.7M), Crawford (39.1M), Hildebrandt (39.4M), Quinlan (37.6M), Waldman (35.9M) votes for.
Net loss of $148.4M vs $1.4M loss year ago; revenue $115.8M, down 23.8% YoY.
Comtech appoints Kenneth Traub as President and CEO; launches comprehensive transformation
Kenneth Traub appointed President and CEO effective Jan 13, 2025, replacing John Ratigan who separated.
Comtech gets Nasdaq delinquency notice for late Q1 10-Q filing; has 60 days to regain compliance
Received Nasdaq letter on Dec 18, 2024 for failure to file Form 10-Q by extended due date of Dec 16, 2024.
Comtech adopts new indemnification agreement for directors and officers
Board approved new form of indemnification agreement on Dec 9, 2024, replacing 2007 version.
Comtech appoints Kenneth H. Traub as Executive Chairman; Quinlan steps down as Board Chair
Kenneth H. Traub appointed Executive Chairman effective Nov 26, 2024; he will serve as senior executive leading the company.
Comtech settles proxy contest with investor group; adds Michael Hildebrandt to board
Appointed Michael Hildebrandt, Senior Investment Professional at Freshford Capital, as independent director effective Nov 18, 2024.
Comtech appoints John Ratigan as permanent CEO and Kenneth Traub to board
John Ratigan named President, CEO and board member effective Oct 28, 2024; had been interim CEO since March 2024.
Net sales $126.2M (-15.2% YoY); operating loss $81.5M includes $64.5M goodwill impairment in S&S segment.
Comtech to become pure-play satellite co; exploring T&W sale; gets $25M sub debt, waives covenants
Board exploring strategic alternatives for Terrestrial & Wireless Networks segment; process underway with Imperial Capital.
Comtech enters indemnification agreements with interim CEO, CLO, and CFO
Indemnification agreements signed with John Ratigan (Interim CEO) and Donald Walther (Chief Legal Officer) on Sept 12, 2024.
COO Maria Hedden resigns from Comtech, effective Sept 13, 2024
Maria Hedden, Chief Operating Officer, notified resignation on Sept 6, 2024, effective Sept 13.
Comtech Q3 net sales $128.1M (-6% YoY); operating loss $3.5M; secures $222M credit facility
Net sales $128.1M vs $136.3M a year ago; GAAP operating loss of $3.5M includes $2.5M CEO transition costs.
Comtech enters $162M term loan and $60M ABL credit facility, issues warrants at $0.10 strike
New $162M term loan and $60M ABL facility; $25M drawn at closing, used to repay existing credit facility.
Comtech approves $4.0M retention bonus program for execs and key employees
Total program allocation ~$4.0M; bonuses paid in four quarterly installments over 12 months.
Comtech Telecom amends interim CEO John Ratigan's employment; $525K salary, $10K monthly stipend
John Ratigan named Interim CEO; existing employment agreement amended March 27, 2024.
Comtech Q2 FY2024: net sales $134.2M, Adj. EBITDA $15.1M, refinancing top priority
Consolidated net sales $134.2M (flat YoY); GAAP operating income $3.0M vs loss of $0.8M a year ago.
Director Ellen Lord resigns from Comtech board effective March 11, 2024
Ellen M. Lord resigned from the Board of Directors effective March 11, 2024.
Comtech terminates CEO Ken Peterman for cause; appoints John Ratigan interim CEO
Ken Peterman terminated as President and CEO for cause effective March 12, 2024; conduct unrelated to business strategy or financials.
Comtech issues $45M Series B convertible preferred, exchanges all Series A-1
Issued 45,000 shares Series B Convertible Preferred at $1,000 each for $45M; 9% PIK or 7.75% cash dividend.
White Hat and Magnetar purchase $45M of new Series B Convertible Preferred; all outstanding Series A-1 exchanged for Series B.
COO Maria Hedden: $515k base salary, 60% target bonus. CLO Don Walther: $475k base salary, 50% target bonus.
Comtech board adopts annual say-on-pay frequency after 94.1% shareholder vote
All six director nominees elected with 96.8%-98.7% support; advisory compensation approval passed with 88.0%.
All six board nominees elected; support ranged from 96.8% to 98.7% of votes cast.
Exchanged all 100,000 Series A Preferred shares for 100,000 Series A-1 Preferred shares at $1,134.20 liquidation preference per share.
Comtech Q1 net sales $151.9M (+15.9% YoY); bookings $185.6M; guides Q2 net sales +1-3%
Operating income $2.1M vs loss of $9.7M a year ago; adjusted EBITDA $18.4M (12.1% margin) versus $10.7M (8.2%).
Comtech closes divestiture of PST product line to Stellant for $32.5M; proceeds used to reduce debt
Net cash proceeds of $32.5M from sale of PST product line to Stellant (Arlington Capital Partners portfolio company).
Comtech Q4 net sales $148.8M (+17.2% YoY), first GAAP operating profit since FY21
Q4 net sales $148.8M (+17.2% YoY); GAAP operating income $1.1M vs loss $2.1M a year ago.
Comtech General Counsel Yelena Simonyuk resigns effective August 31, 2023
Yelena Simonyuk, General Counsel and Assistant Corporate Secretary, resigns from Comtech.
Q3 FY2023 results: revenues, Adjusted EBITDA, and margins met or beat guidance; sequential growth maintained.
Comtech reports Q3 net sales growth, $12.5M Adj EBITDA (9.2% margin); Q4 guidance: sales up 2-4%
Operating cash flow of $16.6M; Adjusted EBITDA of $12.5M (9.2% margin).
Comtech appoints Bruce T. Crawford and Ellen M. Lord to Board of Directors
Appointed Lieutenant General (Ret.) Bruce T. Crawford and Hon. Ellen M. Lord as directors effective June 15, 2023, increasing board to nine members, eight independent.
Comtech Q2 revenue $133.7M (+11% YoY), suspends dividend; Q3 guidance 1-3% sequential growth
Q2 revenues $133.7M, up 11% YoY and 2% sequentially; fifth consecutive quarterly increase.
Bruce T. Crawford, a current director of Comtech Telecommunications Corp. (the “Company”), notified the Company of his intention to resign from the Company’s Board of Directors (the “Board”), with Mr. Crawford’s appointment as president and Chief Executive Officer of AFCEA International.
Bruce T. Crawford, a current director of Comtech Telecommunications Corp. (the “Company”), notified the Company of his intention to resign from the Company’s Board of Directors (the “Board”), effective on or about June 15, 2026
On February 28, 2025, David B. Kagan notified the Company of his resignation as a member of the Company’s Board of Directors, effective February 28, 2025.
On February 13, 2025, the Board of Directors (the “Board”) of Comtech Telecommunications Corp. (“Comtech” or the “Company”) appointed Mr. David B. Kagan as an independent director.
On January 13, 2025, Comtech Telecommunications Corp. (the “Company”) announced that Mr. Kenneth Traub, who currently serves as the Company’s Executive Chairman, has been appointed to serve as President and Chief Executive Officer (“CEO”) of the Company in addition to his current role, effective as of January 13, 2025.
The Company also announced the mutually agreed separation of John Ratigan as President, CEO and member of the Board of Directors (the “Board”), effective as of January 13, 2025 (the “Separation Date”).
On November 26, 2024, the Board of Directors (the “Board”) of Comtech Telecommunications Corp. (the “Company”) appointed Mr. Kenneth H. Traub, who currently serves as a director of the Board, as Executive Chairman effective as of November 26, 2024
Appointment of Director Effective November 18, 2024, the Board appointed Michael J. Hildebrandt to serve as an independent director
On October 28, 2024, the Board of Directors (the “Board”) of Comtech Telecommunications Corp. (“Comtech” or the “Company”) appointed Mr. John Ratigan as President and Chief Executive Officer and a member of the Board, effective as of October 28, 2024.
Effective October 31, 2024, the Board appointed Mr. Kenneth H. Traub as an independent director.
On September 6, 2024, Maria Hedden, Chief Operating Officer of Comtech Telecommunications Corp. (the "Company"), notified the Company of her decision to resign from the Company, effective as of September 13, 2024.
On March 11, 2024, the Honorable Ellen M. Lord notified Comtech Telecommunications Corp. (the “Company”) of her resignation as a member of the Company’s Board of Directors, effective immediately.
Max materiality 0.85 · Median 0.65 · Most common event leadership