Comtech reported fiscal Q2 net sales of $106.8 million, representing a 15.6% decrease from $126.6 million a year earlier, and posted an operating loss of $1.2 million and a net loss attributable to common shareholders of $20.2 million. Adjusted EBITDA rose to $9.1 million (8.6% of sales), up from $2.9 million in the prior year period.

Gross profit increased to $36.2 million, or 33.9% of net sales, compared with 26.7% a year ago, driven by operational efficiency and a streamlined product portfolio. Management exited low-margin contracts—including VSAT services and legacy troposcatter products—and refocused on higher-margin offerings such as digital common ground modems and multi-path radios.

Net bookings surged 120.9% to $175.4 million, fueled by over $107 million in incremental funding for a multi-year contract extension, elevating the book-to-bill ratio to 1.64x. Funded backlog reached $731.6 million, with revenue visibility maintained at approximately $1.1 billion.

GAAP cash flows from operations were $4.9 million, marking the fourth consecutive quarter of positive operating cash flow. Total liquidity stood at $49.9 million at quarter end, reflecting ongoing cost structure reductions and improved working capital management.