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Jan 31, 2023
Comtech Q2 2023 Earnings Report
Comtech reported fifth consecutive quarter revenue growth, strong bookings, and improved Adjusted EBITDA.
Key Takeaways
Comtech reported $133.7 million in consolidated net sales, a 2.0% sequential increase, and Adjusted EBITDA of $11.3 million, or 8.5% of consolidated net sales. Consolidated bookings were $167.5 million, representing a 62.7% year-over-year increase.
Comtech grew revenue for the fifth consecutive quarter.
The company recorded strong bookings, increasing forward revenue visibility as its funded backlog grew.
Adjusted EBITDA improved.
Comtech publicly announced its first EVOKE technology partnership with Sirqul Inc.
Comtech
Comtech
Forward Guidance
For Q3 fiscal 2023, Comtech expects net sales to grow between 1.0% and 3.0% sequentially and Adjusted EBITDA margins to be in the range of 8.5% to 10.0%.
Positive Outlook
- Net Sales: Consolidated net sales to grow between 1.0% and 3.0% on a sequential basis.
- Adjusted EBITDA: Consolidated Adjusted EBITDA margins to be in the range of 8.5% to 10.0%.
- Encouraged by progress related to One Comtech transformation
- Encouraged by launch of EVOKE (innovation foundry)
- Encouraged by emerging growth opportunities