COMTECH TELECOMMUNICATIONS CORP /DE/

We operate one core business, Allerium, which we believe serves markets undergoing long-term growth, reinvestment and rapid technological change. Allerium is a leading provider of Next Generation 9-1-1 (“NG9-1-1”) infrastructure and emergency communications technologies for state and local governments, public safety agencies and telecommunications carriers.

Financial information about our business segment is provided in Notes to Consolidated Financial Statements - Note (13) Segment Information included in Part II - Item 8. Financial Statements and Supplementary Data. The markets and key technologies for Allerium are further described below.

Rebranding to Allerium

During fiscal 2025, we launched the rebranding of our Terrestrial and Wireless Networks segment to "Allerium," a fusion of “all” and “continuum.” Allerium is a name we believe symbolizes the seamless connection, collaboration, reliability and empowerment that we are focused on delivering to public safety professionals and essential service providers. Allerium reflects a brand rooted in experience, driven by innovation and built for those who protect our communities. This rebrand serves to clarify our go-to-market strategy under a single identity, which we believe reaffirms our commitment to delivering successful outcomes when it matters most. The rebrand strengthens market recognition, enhances customer trust and positions the business for sustained growth. Allerium underscores our focus on long-term value creation by improving brand equity, expanding customer reach and enabling more efficient go-to-market execution. It also increases visibility within key public safety and network markets, sectors defined by trust, reliability and innovation. While our name has changed, our mission has not: to serve those who protect our communities, with technology that performs when every connection counts.

No later than six months from the consummation of the Strategic Transaction, we must change our name to one that does not contain "Comtech". Following consummation of the Strategic Transaction, we expect to complete our rebranding initiative by formally changing our name to Allerium. We anticipate fully adopting the Allerium name during fiscal 2027. Accordingly, we refer to our continuing operations as Allerium. In connection with such rebranding, we also anticipate trading under a new Nasdaq symbol to be announced in the future.

Allerium is a public safety technology business focused on helping governments, emergency communications agencies and mobile network operators build, operate and modernize the critical infrastructure that connects people to help.

Every emergency begins with a connection. From the moment a citizen places a 9-1-1 call or sends a text requesting assistance, technologies, such as Allerium's, help ensure communications are precisely located, securely routed and delivered to the appropriate emergency communications center. Beyond the initial connection, our solutions enable agencies to receive, manage and coordinate voice, text, location and other critical information that supports emergency response when every second counts.

Our solutions serve two complementary markets.

•Public Safety Solutions: Our Public Safety Solutions include Next Generation 9-1-1 ("NG9-1-1") infrastructure, Emergency Services IP Networks ("ESInets"), Next Generation Core Services ("NGCS"), cloud-native call handling, emergency communications applications, trusted location services and software designed to improve coordination across the emergency response ecosystem and cybersecurity training.

•Mobile Network Solutions: Our Mobile Network Solutions provide carrier-grade location, messaging and public alerting technologies that enable mobile network operators to support emergency services, regulatory compliance and trusted communications across evolving wireless networks.

Together, these solutions position Allerium at the intersection of two long-term technology transformations: the modernization of emergency communications infrastructure and the continued evolution of mobile networks.

According to a 2026 Next Generation 9-1-1 report published by Frost & Sullivan, a leading third-party research firm, Allerium was the second leading provider of next generation core services ("NGCS") based on both primary contracts held and U.S. population served, with an estimated market share of approximately 25%. Allerium was also the third leading provider for call handling in the U.S., with an estimated market share of approximately 8%. Allerium's solutions were also estimated to support over 250 million wireless subscribers. We believe these positions demonstrate the breadth of Allerium's role across the emergency communications ecosystem, spanning the mobile networks where emergency communications originate through the NG9-1-1 infrastructure and call handling technologies used by public safety agencies.

Allerium supports statewide and regional NG9-1-1 deployments across North America, while providing mission-critical technologies used by public safety agencies and many of the world's largest mobile network operators. Our portfolio spans the technologies that locate, route, answer and increasingly coordinate emergency communications across secure, standards-based networks.

Increasingly, our software incorporates artificial intelligence, automation and advanced data analytics to help agencies improve situational awareness, streamline workflows and support more informed emergency response.

Allerium operates critical infrastructure for governments and public safety agencies, creating long-term customer relationships that extend well beyond initial deployments. We believe these trusted relationships provide a foundation to expand the capabilities we deliver over time, including additional software, cloud-based applications, data-driven capabilities and network services as customers continue modernizing their emergency communications environments.

During fiscal 2026, Allerium continued to strengthen its market position through customer deployments, contract renewals and continued product innovation. Highlights included expanding statewide NG9-1-1 services in Kentucky, renewing Arizona's statewide NG9-1-1 partnership, completing over 60 NG9-1-1 upgrades across Canada, making Allerium Mira commercially available as our cloud-native call handling platform, and introducing Allerium Coral, a network-native capability designed to securely coordinate incident information across agencies and jurisdictions.

Upon consummation of the Strategic Transaction, we will continue to align our operations, strategy and corporate identity around the Allerium business, creating a focused public safety technology company dedicated to supporting the continued evolution of emergency communications.

Across these markets, our portfolio includes four primary areas: next generation 9-1-1 and call delivery, call handling, trusted location and messaging solutions and cybersecurity training.

Next Generation 9-1-1 and Call Delivery

Allerium provides the network infrastructure that enables emergency communications to move securely, reliably and intelligently between originating service providers, emergency communications centers and public safety agencies. Our NG9-1-1 solutions include ESInets, NGCS, geospatial routing, policy-based call routing, location validation, originating service provider connectivity and related network services that form the foundation of modern emergency communications.

As governments replace legacy Enhanced 9-1-1 systems with IP-based NG9-1-1 networks, agencies are increasingly seeking resilient, interoperable platforms capable of supporting voice, text, multimedia, precise location and emerging forms of real-time data. Our statewide and regional deployments are designed to provide that foundation while enabling future expansion as new technologies and workflows emerge.

Increasingly, NG9-1-1 is becoming more than a call-routing network. Allerium continues to expand the capabilities delivered through its infrastructure, enabling agencies to securely exchange and coordinate critical information as incidents move across jurisdictions, organizations and systems.

Call Handling Solutions

Allerium provides call handling solutions that enable emergency communications centers to receive, manage and respond to emergency requests across voice, text and emerging communication channels.

Our portfolio includes both proven on-premise platforms and Allerium Mira, our cloud-native call handling platform designed to support the evolving operational and technology requirements of modern emergency communications centers. Mira extends our existing call handling capabilities through a flexible microservices architecture that supports cloud, hybrid, private and edge deployment models while integrating directly with our NG9-1-1 infrastructure.

As agencies continue modernizing emergency communications environments, we believe cloud-native applications, artificial intelligence and closer integration between networks and operational software will become increasingly important components of future public safety systems.

Trusted Location and Messaging Solutions

Allerium provides carrier-grade location, messaging and public alerting technologies that support mobile network operators, government agencies and other communications providers worldwide.

Our solutions enable operators to determine subscriber location, support emergency communications, comply with evolving regulatory requirements and deliver trusted messaging services across wireless networks. We also provide Wireless Emergency Alert solutions, location technologies and emergency communications services that help mobile network operators deliver reliable public safety capabilities while supporting the ongoing evolution of networks, such as 4G and 5G.

These long-standing carrier relationships complement our public safety business while providing opportunities to extend trusted communications technologies across an increasingly connected communications ecosystem.

Cybersecurity Training

We provide advanced cybersecurity training, primarily in support of mission-critical, high-security U.S. government and certain commercial and university customers, based on mature and proven training tools and programming. We provide cyber training both at customer sites and through our in-house development capabilities. Our competitive advantages include proprietary methods for administration and student management, a proven track record through multiple renewal cycles on a key U.S. government program and deep, trusted customer relationships.

We see expansion opportunities driven by a heightened focus on cybersecurity threats and workforce readiness, particularly in mission-critical emergency communications environments. We are also leveraging our extensive library of cybersecurity training programs to serve state and local governments, as well as private sector enterprises. To enhance scalability and accessibility, we are expanding our capabilities through hosted SaaS delivery models.

Key Markets and Growth Drivers

Allerium believes several long-term industry trends support continued demand for its technologies and services.

Modernization of Emergency Communications

Governments across North America continue replacing legacy emergency communications infrastructure with standards-based NG9-1-1 networks capable of supporting voice, text, multimedia, location and real-time data. We believe this multi-year transition will continue to create opportunities for network modernization, software adoption and managed services.

Expansion Within Existing Customer Relationships

Allerium's long-term relationships with statewide, regional and local public safety agencies create opportunities to expand the capabilities we deliver over time. As agencies modernize emergency communications, the opportunity is shifting beyond connecting calls and data to enabling more intelligent coordination across systems, agencies and jurisdictions.

Our strategy is to extend the value of the NG9-1-1 network through software and data-driven capabilities. Recent innovations, including Allerium Coral, leverage the intelligence, security and trusted routing capabilities of our network infrastructure to support secure coordination of incident information and improved situational awareness through AI-assisted workflows. We believe this approach strengthens existing customer relationships while creating opportunities to deliver additional software and services as agencies continue to modernize their emergency communications environments.

Cloud-Native Public Safety Applications

Emergency communications centers continue evaluating cloud-based deployment models that provide greater flexibility, scalability and operational resilience. Allerium believes cloud-native applications will become an increasingly important component of future emergency communications environments.

Mobile Network Evolution

Mobile network operators continue investing in network modernization, advanced location technologies, public alerting capabilities and messaging platforms to support emergency services, regulatory compliance and evolving subscriber expectations. As 5G networks mature, operators are increasingly seeking more intelligent location capabilities that improve positioning accuracy, resilience and operational awareness across increasingly complex wireless environments. Allerium continues to invest in next-generation location technologies, including AI-assisted approaches that leverage contextual network intelligence to enhance positioning performance and support emerging commercial and public safety applications. We believe our long-standing relationships with leading global mobile network operators position us to participate in these ongoing investments and technology transitions.

International Opportunities

Allerium continues to support customers across Canada, Australia and other international markets. We believe our experience delivering mission-critical communications infrastructure provides opportunities to expand our presence internationally as governments and communications providers continue modernizing emergency communications and mobile network technologies.

Allerium: Customer Base

Our Allerium segment serves customers primarily across the United States, Canada and Australia, where we have established long-term relationships with governments, public safety agencies and many of the world's leading telecommunications companies. These relationships span mission-critical public safety infrastructure, emergency communications, carrier location technologies and messaging services, providing a foundation for continued collaboration as customers modernize their communications networks. Representative customer categories include:

•U.S. state and local governments, including the Commonwealths of Kentucky, Massachusetts and Pennsylvania; the states of Arizona, Iowa, Maine, Ohio, South Carolina and Washington; and regional emergency communications authorities such as the North Central Texas Emergency Communications District, the Northern Illinois Next Generation Alliance and St. Louis County, Missouri.

•Leading telecommunications companies, including AT&T Inc., Bell Mobility, Inc., Comcast Corp., Nokia Corp., Rogers Communications Canada Inc., TELUS Communications Inc., Verizon Communications Inc. and Vodafone Public Limited Co.

•Telephone companies and federal, provincial, and local governments in Australia, Canada, Cayman Islands and New Zealand.

•High-security U.S. government and certain commercial and university customers.

More Information and Where to Find It

Our Internet website iswww.comtech.com, at which we make available free of charge our filings with the Securities and Exchange Commission ("SEC"), including investor letters, press releases, annual reports, quarterly reports, current reports, and any amendments to those filings as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. We also use our website to disseminate other material information to our investors (on the Home Page and in the "Investor Relations" section). Among other things, we post on our website our press releases and information about our public conference calls (including the scheduled dates, times and the methods by which investors and others can listen to those calls), and we make available for replay webcasts of those calls and other presentations for a limited time.

We also use social media channels to communicate with customers and the public about our Company, our products, services, and other issues, and we use social media and the Internet to communicate with investors, including information about our stockholder meetings. Information and updates about our Annual Meetings will continue to be posted on our website atwww.comtech.com in the "Investors" section.

None of the information on our website, blog or any other website identified herein is incorporated by reference in this Form 10-K and such information should not be considered a part of this Form 10-K.