COMTECH TELECOMMUNICATIONS CORP DE
For the period ended Jan 31, 2025. Filed Mar 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2025 · Filed Mar 12, 2025
CMTL$1.19+6.2%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS
| Assets | January 31, 2025 | July 31, 2024 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $26,666,000 | 32,433,000 |
| Accounts receivable, net | 167,197,000 | 195,595,000 |
| Inventories, net | 81,401,000 | 93,136,000 |
| Prepaid expenses and other current assets | 14,283,000 | 15,387,000 |
| Total current assets | 289,547,000 | 336,551,000 |
| Property, plant and equipment, net | 45,228,000 | 47,328,000 |
| Operating lease right-of-use assets, net | 30,231,000 | 31,590,000 |
| Goodwill | 204,625,000 | 284,180,000 |
| Intangibles with finite lives, net | 183,192,000 | 194,828,000 |
| Deferred financing costs, net | 1,806,000 | 3,251,000 |
| Other assets, net | 15,932,000 | 14,706,000 |
| Total assets | $770,561,000 | 912,434,000 |
| Liabilities, Convertible Preferred Stock and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | $43,056,000 | 42,477,000 |
| Accrued expenses and other current liabilities | 53,470,000 | 62,245,000 |
| Current portion of credit facility, net | 186,434,000 | 4,050,000 |
| Current portion of subordinated credit facility, net | 28,729,000 | — |
| Operating lease liabilities, current | 7,363,000 | 7,869,000 |
| Contract liabilities | 65,616,000 | 65,834,000 |
| Interest payable | 641,000 | 1,072,000 |
| Total current liabilities | 385,309,000 | 183,547,000 |
| Non-current portion of credit facility, net | — | 173,527,000 |
| Operating lease liabilities, non-current | 28,667,000 | 30,258,000 |
| Income taxes payable, non-current | 2,516,000 | 2,231,000 |
| Deferred tax liability, net | 5,899,000 | 6,193,000 |
| Long-term contract liabilities | 20,253,000 | 21,035,000 |
| Warrant and derivative liabilities | 72,746,000 | 5,254,000 |
| Other liabilities | 4,146,000 | 4,060,000 |
| Total liabilities | 519,536,000 | 426,105,000 |
| Commitments and contingencies (See Note 20) | ||
| Convertible preferred stock, par value $0.10 per share; authorized and issued 175,264 shares at January 31, 2025 (redemption value of $192,051,000 which includes accrued dividends of $1,430,000) and authorized and issued 171,827 shares at July 31, 2024 (redemption value of $180,076,000, which includes accrued dividends of $1,341,000) | 122,317,000 | 180,076,000 |
| Stockholders' equity: | ||
| Preferred stock, par value $0.10 per share; authorized and unissued 1,824,736 and 1,828,173 shares at January 31, 2025 and July 31, 2024, respectively | — | — |
| Common stock, par value $0.10 per share; authorized 100,000,000 shares; issued 44,380,110 and 43,766,109 shares at January 31, 2025 and July 31, 2024, respectively | 4,438,000 | 4,377,000 |
| Additional paid-in capital | 614,858,000 | 640,145,000 |
| Retained (deficit) earnings | (48,739,000) | 103,580,000 |
| 570,557,000 | 748,102,000 | |
| Less: | ||
| Treasury stock, at cost (15,033,317 shares at January 31, 2025 and July 31, 2024) | (441,849,000) | (441,849,000) |
| Total stockholders’ equity | 128,708,000 | 306,253,000 |
| Total liabilities, convertible preferred stock and stockholders’ equity | $770,561,000 | 912,434,000 |
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