Return to Home

Comtech Telecommunications Corp.

CMTL

Find Out if You Qualify for a Financial Reward by filling out the form below.

Comtech Telecommunications Corp. Form












Securities Fraud News does not share your information with others. There is no cost or obligation for you to submit.

Investigation Details

On December 7, 2023, Comtech released its earnings report for the quarter ended October 31, 2023. The report contained an “going concern” qualification due to worries about Comtech’s continued compliance with its financial covenants. The Company further revealed it had drawn down most of its credit facility and was engaged in protracted negotiations to renew that facility, set to expire in October 2024.

Analysts raised alarm about Comtech’s “unbilled receivables,” an accounting practice used to recognize revenue prior to a company actually receiving those funds. One analyst described the practices as “Aggressive Accounting”.

On March 18, 2024, the Company released its quarterly earnings report, days after dismissing its CEO for alleged ethics violations. The Company missed revenue projections and indicated ongoing uncertainty about its debt negotiations. Analysts also noted Comtech’s continued use of “unbilled receivables” and its impact on the Company’s financial statements.

Following the release of the earnings report, CMTL shares fell $4.63, or 37%, overnight.

Find More Cases

Ticker Symbol Company Name Join Deadline
NFE New Fortress Energy Inc. November 18, 2024 Join
MGX Metagenomi, Inc. November 25, 2024 Join
BMBL Bumble Inc. November 25, 2024 Join
UPS United Parcel Service, Inc. December 09, 2024 Join
EW Edwards Lifesciences Corporation December 13, 2024 Join
TD The Toronto-Dominion Bank December 23, 2024 Join