olivLaw · US equity research
Comtech Telecommunications Corp. CMTL
Radio & Tv Broadcasting & Communications Equipment · SIC 3663 · Vertical: Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
Comtech Telecommunications Corp. (CMTL) focuses its business on Allerium, a provider of 9-1-1 emergency call infrastructure, software and carrier location and alerting services. In 2026 the company agreed to sell most of its satellite S&S segment, a move that will reshape its profile and capital structure.
At the close of 04 Nov 2026, Comtech Telecommunications Corp. (CMTL) stock was 1.24 USD (+0.81% on the day), with market capitalisation 37.4 m USD, dividend yield 16.13%, beta 1.73, 52-week range 1.18–5.98 USD. Latest reported quarter (Q4 2026): revenue of -74.2 m USD, net income of -3.2 m USD (−140.5% YoY), diluted EPS -0.11 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 41.2
- weak (30–45)
- Bollinger (20, 2)
- 1.15 – 1.43
- in the lower half of the band · %B 0.31 · band width 21.7%
- SMA 50 / 200
- 1.42 / 3.25
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.04 / -0.05
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −0.8% | −1.1% | +0.3 pp | — |
| 3 months | −27.9% | −0.5% | −27.5 pp | — |
| 6 months | −67.7% | +4.4% | −72.1 pp | — |
| Year to date | −76.6% | +12.3% | −88.9 pp | — |
| 1 year | −58.2% | +13.5% | −71.8 pp | +3.5% |
| 3 years | −90.2% | +76.4% | −166.6 pp | +58.8% |
| 5 years | −95.4% | +63.7% | −159.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q4 2026 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 115.8 m | 126.6 m | 126.8 m | -68.3 m | 111.0 m | 106.8 m | 106.0 m | -74.2 m |
| Cost of revenue | 101.3 m | 92.8 m | 87.8 m | -76.3 m | 74.3 m | 70.5 m | 69.9 m | -62.3 m |
| Gross profit | 14.5 m | 33.7 m | 38.9 m | 8.0 m | 36.8 m | 36.2 m | 36.1 m | -11.9 m |
| Research & development | 3.7 m | 4.4 m | 4.4 m | -767.0 k | 3.8 m | 4.4 m | 5.2 m | -1.9 m |
| SG&A | 51.6 m | 33.8 m | 30.2 m | -27.6 m | 29.9 m | 27.7 m | 29.3 m | 905.0 k |
| Operating income | -129.2 m | -10.3 m | -1.5 m | 111.1 m | -2.8 m | -1.2 m | -3.1 m | -11.1 m |
| Interest expense | 9.5 m | 11.0 m | 12.9 m | 12.2 m | 11.6 m | 11.2 m | 11.5 m | -13.0 m |
| Pre-tax income | -146.3 m | -49.7 m | 32.1 m | 144.6 m | -15.4 m | -13.6 m | -2.2 m | 13.8 m |
| Income tax | 2.1 m | -968.0 k | -1.8 m | 356.0 k | 442.0 k | 17.0 k | 1.3 m | -880.0 k |
| Net income | -148.4 m | -48.7 m | 33.9 m | 7.9 m | -15.9 m | -13.6 m | -3.5 m | -3.2 m |
| Diluted EPS | -5.29 | -0.76 | -0.49 | 0.27 ≈ | -0.67 | -0.68 | -0.47 | -0.11 ≈ |
| Operating cash flow | -21.8 m | -234.0 k ≈ | 2.3 m ≈ | 11.4 m | 8.1 m | 4.9 m ≈ | 6.1 m ≈ | 18.4 m |
| Capex | 2.4 m | 1.7 m ≈ | 2.5 m ≈ | 1.7 m | 3.3 m | 4.4 m ≈ | 5.4 m ≈ | 2.1 m |
| Dividends paid | 39.0 k | 118.0 k ≈ | 0 ≈ | 1.0 k | 24.0 k | 4.0 k ≈ | 4.0 k ≈ | 0 |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | ⚠ 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 671.8 m | 616.7 m | 581.7 m | 486.2 m | 550.0 m | 540.4 m | 300.9 m | 249.6 m |
| Revenue YoY | +17.7% | −8.2% | −5.7% | −16.4% | +13.1% | −1.7% | — | −17.0% |
| Net income | 25.0 m | 7.0 m | -73.5 m | -33.1 m | -26.9 m | -100.0 m | -155.3 m | -36.2 m |
| Net income YoY | −15.9% | −72.0% | −1,146.7% | unavailable | unavailable | unavailable | — | unavailable |
| Diluted EPS | 1.03 | 0.28 | -2.86 | -1.63 | -1.21 | -4.70 | -6.95 | -2.31 |
| Diluted EPS YoY | −16.9% | −72.8% | −1,121.4% | unavailable | unavailable | unavailable | — | unavailable |
| net % | 3.7% | 1.1% | -12.6% | -6.8% | -4.9% | -18.5% | -51.6% | -14.5% |
| Free cash flow | 59.2 m | 45.5 m | -56.7 m | -17.6 m | -22.7 m | -67.6 m | -16.5 m | 22.2 m |
The series breaks before 2025: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Jul 2026
- Cash
- 35.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 38.9 m USD
- Total assets
- 695.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.84x
- ROE
- -50.5%
- ROA
- -5.0%
- FCF margin
- 8.9%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 581.7 m | 486.2 m | 550.0 m | 540.4 m | 300.9 m | 249.6 m | SEC (XBRL)· 14 Oct 2026verified |
| Cost of revenue | 367.7 m | 306.4 m | 365.5 m | 383.2 m | 205.7 m | 152.4 m | SEC (XBRL)· 14 Oct 2026verified |
| Gross profit | 214.0 m | 179.8 m | 184.5 m | 157.2 m | 95.2 m | 97.2 m | SEC (XBRL)· 14 Oct 2026verified |
| Research & development | 49.1 m | 52.5 m | 48.6 m | 24.1 m | 11.7 m | 11.6 m | SEC (XBRL)· 14 Oct 2026verified |
| SG&A | 111.8 m | 114.9 m | 120.0 m | 123.2 m | 88.1 m | 87.9 m | SEC (XBRL)· 14 Oct 2026verified |
| Operating income | -68.3 m | -33.8 m | -14.7 m | -79.9 m | -29.9 m | -18.2 m | SEC (XBRL)· 14 Oct 2026verified |
| Depreciation & amortisation | 9.4 m | 10.3 m | 11.9 m | 12.2 m | 8.8 m | 9.8 m | SEC (XBRL)· 14 Oct 2026verified |
| EBITDA | -58.9 m ≈ | -23.4 m ≈ | -2.7 m ≈ | -67.7 m ≈ | -21.1 m ≈ | -8.4 m ≈ | SEC (XBRL)· 14 Oct 2026derived |
| Interest expense | 6.8 m | 5.0 m | 15.0 m | 22.2 m | 45.7 m | 21.3 m | SEC (XBRL)· 14 Oct 2026verified |
| Pre-tax income | -75.0 m | -37.1 m | -30.8 m | -100.3 m | -19.3 m | -17.4 m | SEC (XBRL)· 14 Oct 2026verified |
| Income tax | -1.5 m | -4.0 m | -3.9 m | -295.0 k | -279.0 k | 847.0 k | SEC (XBRL)· 14 Oct 2026verified |
| Net income | -73.5 m | -33.1 m | -26.9 m | -100.0 m | -155.3 m | -36.2 m | SEC (XBRL)· 14 Oct 2026verified |
| Diluted EPS | -2.86 | -1.63 | -1.21 | -4.70 | -6.95 | -2.31 | SEC (XBRL)· 14 Oct 2026verified |
| Weighted average diluted shares | 25.7 m | 26.5 m | 28.0 m | 28.8 m | 29.4 m | 29.8 m | SEC (XBRL)· 14 Oct 2026verified |
| Dividend per share | 0.40 | 0.40 | 0.20 | — | — | — | SEC (XBRL)· 12 Oct 2023verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 30.9 m | 21.7 m | 19.0 m | 32.4 m | 35.4 m | 35.0 m | SEC (XBRL)· 14 Oct 2026verified |
| Receivables | 158.1 m | 123.7 m | 163.2 m | 195.6 m | 87.2 m | 67.8 m | SEC (XBRL)· 14 Oct 2026verified |
| Inventories | 80.4 m | 96.3 m | 105.8 m | 93.1 m | 6.9 m | 10.5 m | SEC (XBRL)· 14 Oct 2026verified |
| Current assets | 287.5 m | 263.3 m | 305.5 m | 336.6 m | 271.2 m | 243.3 m | SEC (XBRL)· 14 Oct 2026verified |
| Property, plant & equipment, net | 35.3 m | 50.4 m | 53.0 m | 47.3 m | 28.0 m | 31.0 m | SEC (XBRL)· 14 Oct 2026verified |
| Goodwill | 347.7 m | 347.7 m | 347.7 m | 284.2 m | 176.1 m | 176.1 m | SEC (XBRL)· 14 Oct 2026verified |
| Intangibles (excl. goodwill) | 268.7 m | 247.3 m | 225.9 m | 194.8 m | 135.4 m | 120.7 m | SEC (XBRL)· 14 Oct 2026verified |
| Total assets | 993.1 m | 974.3 m | 996.2 m | 793.2 m | 741.9 m | 695.8 m | SEC (XBRL)· 14 Oct 2026verified |
| Accounts payable | 36.2 m | 44.6 m | 64.2 m | 42.5 m | 14.7 m | 20.8 m | SEC (XBRL)· 14 Oct 2026verified |
| Short-term debt | — | 0 | 4.4 m | 4.1 m | 4.1 m | — | SEC (XBRL)· 10 Nov 2025verified |
| Long-term debt | 201.0 m | 130.0 m | 160.0 m | 173.5 m | 114.4 m | — | SEC (XBRL)· 11 Dec 2025verified |
| Current liabilities | 203.6 m | 193.5 m | 212.0 m | 183.5 m | 158.2 m | 290.6 m | SEC (XBRL)· 14 Oct 2026verified |
| Total liabilities | 492.4 m | 402.5 m | 445.7 m | 426.1 m | 447.9 m | 434.9 m | SEC (XBRL)· 14 Oct 2026verified |
| Equity | 500.7 m | 466.6 m | 438.3 m | 306.3 m | 104.4 m | 38.9 m | SEC (XBRL)· 14 Oct 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -40.6 m | 2.0 m | -4.4 m | -54.5 m | -8.3 m | 37.4 m | SEC (XBRL)· 14 Oct 2026verified |
| Capex | 16.0 m | 19.6 m | 18.3 m | 13.1 m | 8.2 m | 15.2 m | SEC (XBRL)· 14 Oct 2026verified |
| Free cash flow | -56.7 m ≈ | -17.6 m ≈ | -22.7 m ≈ | -67.6 m ≈ | -16.5 m ≈ | 22.2 m ≈ | SEC (XBRL)· 14 Oct 2026derived |
| Investing cash flow | -15.5 m | -19.6 m | -18.3 m | 20.1 m | -8.6 m | -5.9 m | SEC (XBRL)· 14 Oct 2026verified |
| Financing cash flow | 39.1 m | 8.4 m | 20.1 m | 47.8 m | 24.4 m | -32.5 m | SEC (XBRL)· 14 Oct 2026verified |
| Dividends paid | 10.3 m | 11.0 m | 8.7 m | 268.0 k | 158.0 k | 32.0 k | SEC (XBRL)· 14 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 37.4 m USD
Key indicators
Coverage and freshness
Score by group
77% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 38.9% | 0 (on a fixed band) | 14% |
| EBIT margin · Quality | -7.3% | 45 (vs peers) | 11% |
| FCF margin · Quality | 8.9% | 36 (on a fixed band) | 11% |
| Revenue CAGR 3Y · Growth | -23.2% | 0 (on a fixed band) | 22% |
| Revenue growth (YoY) · Growth | -17.0% | 5 (vs peers) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.8x | 2 (on a fixed band) | 8% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 59.4% | 100 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 0.1% | 35 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial2/100 · 1/2 factors with a value
- Growth2/100 · 2/2 factors with a value
- Quality25/100 · 3/3 factors with a value
- Returns35/100 · 1/1 factors with a value
- Valuation· partial100/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 249.6 m USD in 2026; YoY growth -17.0%; net margin -14.5%; ROE -50.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF yield: 59.4%
What contradicts it
- Gross margin: 38.9%
- Revenue CAGR 3Y: -23.2%
- Revenue growth (YoY): -17.0%
- Current ratio: 0.8x
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales.
Versus the vertical median
Radio & Tv Broadcasting & Communications Equipment (SIC 3663) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| QCOMQualcomm Inc | 185.3 bn | 13.6 | 52.8% | 31.6% | −2.6% | +3% / +34% |
| MSIMotorola Solutions, Inc. | 82.2 bn | 40.0 | 77.2% | 16.5% | +8.0% | +34% / +54% |
| UIUbiquiti Inc. | 34.0 bn | 35.4 | 91.1% | 29.3% | +27.2% | −4% / +400% |
| PLPlanet Labs PBC | 3.3 bn | — | -72.0% | -95.1% | +25.9% | +6% / +421% |
| ONDSOndas Inc. | 3.0 bn | 18.0 | 20.1% | 96.0% | +605.3% | −33% / +381% |
| VISNVistance Networks, Inc. | 1.5 bn | 0.2 | 22,304.0% | 247.7% | +39.7% | −67% / +286% |
| HLITHarmonic Inc. | 1.1 bn | — | -11.7% | -13.7% | −26.2% | +7% / −8% |
| BKSYBlacksky Technology Inc | 686.3 m | — | -44.8% | -61.2% | +4.4% | −5% / +59% |
| UMACUnusual Machines, Inc. | 650.9 m | — | -2.9% | -20.3% | +101.2% | +49% / unavailable |
| GILTGilat Satellite Networks Ltd. | 521.2 m | 20.8 | 5.2% | 4.6% | +47.9% | −39% / +10% |
| AVNWAviat Networks, Inc. | 254.8 m | 104.7 | 1.0% | 0.6% | +1.2% | −10% / −34% |
| BKTIBK Technologies Corp | 252.4 m | 19.7 | 30.6% | 15.0% | +12.5% | +5% / +415% |
| CRNTCeragon Networks Ltd | 176.8 m | — | -1.2% | -0.6% | −14.1% | −2% / +6% |
| VUZIVuzix Corp | 171.4 m | — | -122.7% | -519.0% | +9.1% | −25% / −3% |
| SATLSatellogic Inc. | 87.6 m | — | — | -325.6% | +37.6% | +95% / +140% |
| AIRGAirgain, Inc. | 55.4 m | — | -23.7% | -13.6% | −14.6% | +4% / +76% |
| WATTEnergous Corporation | 45.0 m | — | -32.8% | -76.4% | +633.1% | +30% / −87% |
| CMTLComtech Telecommunications Corp | 37.4 m | — | -50.5% | -14.5% | −17.0% | −58% / −90% |
| KUSTKustom Entertainment, Inc. | 22.6 m | — | -323.8% | -126.5% | +1.7% | −98% / −100% |
| NOKNokia Corporation | — | — | 3.1% | 3.3% | +3.5% | +36% / +137% |
| ERICEricsson Lm Telephone Co | — | — | 27.9% | 12.0% | −4.5% | +15% / +126% |
1- and 3-year price returns: for CMTL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Comtech Telecommunications Corp. (CMTL) focuses its business on Allerium, a provider of 9-1-1 emergency call infrastructure, software and carrier location and alerting services. In 2026 the company agreed to sell most of its satellite S&S segment, a move that will reshape its profile and capital structure.
SWOT
Strengths
- Leading position in NG9-1-1 and long relationships with state agencies and mobile operators; most sales are recurring.
- Positive operating cash flow for several consecutive quarters, supported by restructuring.
- Solid funded backlog entering fiscal 2027, providing revenue visibility.
Weaknesses
- Significant debt and covenant arrangements that depend on the S&S sale and future refinancings.
- Net losses from continuing operations and impairment exposure on goodwill and intangible assets.
- Reliance on single or limited sources for critical components, with long waiting lists.
Opportunities
- Cross-selling software, cloud and data services to existing emergency customers.
- International expansion in Canada, Australia and other markets if modernization continues.
- Cost savings expected after the transaction could improve margins.
Threats
- Better-resourced competitors and possible loss of customers or market share.
- Tariffs, trade restrictions and component shortages that could raise costs.
- The risk that the Gilat transaction is not completed or creates unforeseen costs.
Risks
- Completion of the S&S salehigh
The transaction depends on regulatory approvals and closing conditions; if it does not complete, the financial plan could be affected.
- Liquidity and debthigh
The company has credit facilities and convertible preferred stock; debt service obligations could limit financial flexibility.
- Supply chainmedium
Components from single sources are delayed, which could postpone revenue and weigh on margins.
- Fixed-price contractsmedium
Cost growth on fixed-price contracts can reduce profitability and the chance of future business.
- Dependence on government budgetsmedium
Budget decisions by the U.S. government can delay orders or reduce contract volumes.
Investment thesis
What would need to be true (bull case)
- If Allerium keeps its leadership in NG9-1-1 and turns existing customers into buyers of software and services, recurring revenue could support steadier margin growth.
- Completing the S&S sale and a successful refinancing could reduce debt and the cost of capital, freeing resources for product investment.
- The cost savings announced after the transaction could materially improve operating results if integration follows the plan.
What would break the thesis
- If the Gilat transaction does not complete, the company could remain under a heavy debt structure with continued liquidity pressure.
- Net losses from continuing operations and the risk of goodwill impairment could persist if performance does not improve.
- Better-resourced competitors and component shortages could limit growth and compress margins over the medium term.
What to watch
- Completion of the sale of most of the S&S segment to Gilat and use of proceeds2026
- Allerium quarterly results and funded backlog trendQ1 2027
- Realization of cost savings and transition expenses2027
- Name change to Allerium and new Nasdaq symbolnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
After selling most of the S&S segment, the company operates essentially one reportable segment, Allerium, which provides technologies that locate, route and deliver 9-1-1 calls, along with location, messaging and public alerting services for mobile operators. According to the annual report, continuing net sales were $249.6 million in fiscal 2026 2, and gross margin reached 38.9% 2. Management says about 80% of sales are recurring 2.
Segments
Allerium: emergency and 9-1-1 systems
This line includes NG9-1-1 infrastructure, ESInet networks and NGCS services, plus the Allerium Mira cloud call handling platform. According to a third-party report cited by the company, Allerium ranks second in NGCS with an estimated share of about 25% 1.
Mobile Network Solutions and cybersecurity training
Location and messaging solutions for mobile operators are sold mainly to carriers, while cybersecurity training serves government agencies and commercial customers. The company says these lines support long-standing customer relationships 1.
Market context
The market described by the company is the replacement of legacy Enhanced 9-1-1 systems with IP-based NG9-1-1 networks, alongside the evolution of 4G and 5G mobile networks. Management estimates its solutions support over 250 million wireless subscribers 1. The company's estimated share in U.S. call handling is about 8% 1.
Trends
- NG9-1-1 modernizationtailwind
North American governments are gradually replacing legacy emergency infrastructure with standards-based networks, which could create software and managed-service opportunities for Allerium.
- Shift to cloud and AItailwind
Emergency centers are evaluating cloud platforms and AI-assisted tools; if adoption accelerates, the Mira and Coral products could gain share.
- Trade and supply chain uncertaintyheadwind
Tariffs, trade restrictions and shortages of long-lead components could raise costs and delay deliveries.
- Government budgetsmixed
Contracts with the U.S. government depend on budget decisions and can be terminated for convenience; the effect depends on future funding.
Competitive position
The annual report does not name direct competitors in figures, but it says the market is highly competitive and that some rivals have significantly greater resources. Competition also comes from third-party technology providers the company relies on for services.
- Larger-resource competitors (unnamed)
The company states some competitors have significantly greater resources, which could lead to loss of customers or market share.
- Third-party technology providers
The company relies on third parties for some customer services, and that dependence can become a competitive pressure.
- Gilat Satellite Networks (S&S buyer)
An affiliate of Gilat is buying most of the S&S segment, making it a transaction counterparty rather than a direct rival in Allerium.
- Other NG9-1-1 and call handling providers
The report refers to competitors in NGCS and call handling markets without naming them in the source.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Annual report14 Oct 2026
- Current report14 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report14 Oct 2026Results of operations · Financial statements and exhibits
- Current report05 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report03 Aug 2026Material agreement · Other events · Financial statements and exhibits
- Current report16 Jun 2026Departure or appointment of officers
- Current report15 Jun 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Item 3.02 · Item 3.03 · Regulation FD disclosure · Financial statements and exhibits
- Current report15 Jun 2026Results of operations · Financial statements and exhibits
- Quarterly report15 Jun 2026
- Current report14 May 2026Departure or appointment of officers
Sources
- [1] Form 10-K, fiscal year ended 2026-07-31 · SEC / Comtech Telecommunications Corp. · 14 Oct 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Comtech Telecommunications Corp. · 14 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.