Comtech Telecommunications Reports Net Loss of $26.9 Million for Fiscal Year 2023

Comtech Telecommunications Corp/DE/ has announced its financial results for the fiscal year ended July 31, 2023. The company reported a net loss of $26.9 million for the year, compared to a net loss of $33.1 million in the previous year. The company generated annual revenue of $549.9 million, representing an increase of 13.1% from the previous year. 

Financial Performance 

Despite the net loss, Comtech Telecommunications achieved a gross profit of $184.5 million, a slight increase from $179.8 million in the previous year. The company's total operating expenses decreased to $199.1 million from $213.6 million in the previous year. Operating loss for the fiscal year was $14.7 million, a significant improvement from a loss of $33.8 million in the previous year. 

Revenue Growth