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Comtech Telecommunications cash flow, quarter by quarter

Latest: Q4 FY26 · from the cash-flow statements filed with the SEC

Free cash flow$16.3M in Q4 FY26

Operating cash flow$18.4M
Capital spending−$2.1M
Free cash flow+$16.3M

Analysis

In Q4 FY26, Comtech Telecommunications generated $18.4M of operating cash flow and spent $2.1M on capital projects, leaving free cash flow of $16.3M. That is $6.5M more than in Q4 FY25 ($9.7M).

Operating cash flow was $18.4M against net income of −$3.2M. The largest differences: payables +$9.7M, inventory −$9.6M, prepaid and other assets +$3.4M.

Free cash flow

Comtech Telecommunications: free cash flow by quarterComtech Telecommunications: free cash flow by quarter−$24.2MQ1 FY25−$1.9MQ2 FY25−$160KQ3 FY25$9.7MQ4 FY25$4.8MQ1 FY26$442KQ2 FY26$673KQ3 FY26$16.3MQ4 FY26
Operating cash flow less capital spending.
Comtech Telecommunications: operating cash flow against capital spendingComtech Telecommunications: operating cash flow against capital spendingOperating cash flowCapital spending−$21.8M$2.4MQ1 FY25−$234K$1.7MQ2 FY25$2.3M$2.5MQ3 FY25$11.4M$1.7MQ4 FY25$8.1M$3.3MQ1 FY26$4.9M$4.4MQ2 FY26$6.1M$5.4MQ3 FY26$18.4M$2.1MQ4 FY26
Latest (Q4 FY26): Operating cash flow $18.4M, Capital spending $2.1M.

Capital allocation, year by year

Comtech Telecommunications: where the cash came from (up) and went (down), by fiscal yearComtech Telecommunications: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingDividendsFY22: Operating cash flow $2.0MFY22: Net borrowing −$142MFY22: Shares issued $100MFY22: Capital spending −$19.6MFY22: Dividends −$11.0M$102MFY22FY23: Operating cash flow −$4.4MFY23: Net borrowing $35.0MFY23: Shares issued $470KFY23: Capital spending −$18.3MFY23: Dividends −$8.7M$35.5MFY23FY24: Operating cash flow −$54.5MFY24: Net borrowing −$134MFY24: Shares issued $43.5MFY24: Capital spending −$13.1MFY24: Dividends −$268K$43.5MFY24FY25: Operating cash flow −$8.3MFY25: Net borrowing −$86.5MFY25: Shares issued $118KFY25: Capital spending −$8.2MFY25: Dividends −$158K$118KFY25FY26: Operating cash flow $37.4MFY26: Net borrowing −$28.2MFY26: Shares issued $95KFY26: Capital spending −$15.2MFY26: Dividends −$32K$37.5MFY26
Over these 5 years operating cash flow totalled −$27.8M; the largest uses were net borrowing ($391M) and capital spending ($74.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$35.0M
Debt$108M
Net debt$73.3M
Due within a year$4.0M

Comtech Telecommunications funds itself: free cash flow was — over the last twelve months, and $35.0M of cash and investments stands against $108M of debt ($4.0M due within a year, 8.6× covered by cash).

Where the cash came from and went

Comtech Telecommunications: sources (+) and uses (−) of cash, Q4 FY26Comtech Telecommunications: sources (+) and uses (−) of cash, Q4 FY26Operating cash flow$18.4MOther financing−$14.9MCash drawn (+) / kept (−)−$10.5MOther investing$9.3MCapital spending−$2.1MTaxes on employees’ shares−$225KShares issued$18K

From profit to cash

Comtech Telecommunications: net income to operating cash flow, Q4 FY26Comtech Telecommunications: net income to operating cash flow, Q4 FY26Net income−$3.2MDepreciation & amortization$763KStock-based pay$401KDeferred taxes$423KReceivables$1.7MInventory−$9.6MPayables$9.7MDeferred revenue−$2.4MPrepaid and other assets$3.4MOther liabilities−$432KIncome taxes payable−$1.1MOperating cash flow$18.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 FY261078129159
Q2 FY261168733170
Q1 FY26944625115
Q3 FY251128136157
Q2 FY251268143164
Q1 FY251507939190

Every quarter

QuarterOperating cash flowCapital spendingDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q4 FY26$18.4M−$2.1M——$18K−$10.5M$16.3M
Q3 FY26$6.1M−$5.4M−$4K−$5.0M$31K$4.3M$673K
Q2 FY26$4.9M−$4.4M−$4K−$1.0M$24K$10.8M$442K
Q1 FY26$8.1M−$3.3M−$24K−$1.0M$22K−$3.6M$4.8M
Q4 FY25$11.4M−$1.7M−$1K−$35.3M$17K−$11.6M$9.7M
Q3 FY25$2.3M−$2.5M—−$36.3M$18K−$1.8M−$160K
Q2 FY25−$234K−$1.7M−$118K—$45K$3.0M−$1.9M
Q1 FY25−$21.8M−$2.4M−$39K—$38K$2.8M−$24.2M

Comtech Telecommunications: income statement and cash flow

Comtech Telecommunications, Q3 FY26: revenue $106M (-16% year over year), operating margin -2.9%. The chart follows the revenue to costs, profit and cash.

Comtech Telecommunications: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.