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Comtech Telecommunications vs Harmonic: revenue, profit, margins and growth compared

Comtech Telecommunications brought in $499.5M of revenue in fiscal 2025, Harmonic $360.5M in fiscal 2025. Revenue changed by -7.6% at Comtech Telecommunications and -26.2% at Harmonic on the year before, so Comtech Telecommunications grew faster. Comtech Telecommunications kept -31.1% of its revenue as net profit, Harmonic -12.0%. Free cash flow was -$16.9M at Comtech Telecommunications and $96.9M at Harmonic.

Side by side, latest fiscal year

CMTLHLIT
Fiscal year endedFY2025 (July 31, 2025)FY2025 (December 31, 2025)
Revenue$499.5M$360.5M
Revenue growth-7.6%-26.2%
Net income-$155.3M-$43.3M
Net margin-31.1%-12.0%
Free cash flow-$16.9M$96.9M
Free cash flow margin-3.4%26.9%
Earnings per share (diluted)-$6.95-$0.38
Cash$40M$124.1M
Debt$118.5M$112.1M
Price to earningsn/an/a
Market value$41.6M$1.2B
Dividend yieldn/an/a
Rank by revenue in sector#304 of 530 · Technology#341 of 530 · Technology

Over the years

Revenue
CMTL FY2018: $570.6MCMTL FY2019: $671.8MCMTL FY2020: $616.7MCMTL FY2021: $581.7MCMTL FY2022: $486.2MCMTL FY2023: $550MCMTL FY2024: $540.4MCMTL FY2025: $499.5MHLIT FY2018: $403.6MHLIT FY2019: $402.9MHLIT FY2020: $378.8MHLIT FY2021: $507.1MHLIT FY2022: $625MHLIT FY2023: $388.5MHLIT FY2024: $488.2MHLIT FY2025: $360.5MFY18FY19FY20FY21FY22FY23FY24FY25
CMTL $499.5MHLIT $360.5M
Net income
CMTL FY2018: $29.8MCMTL FY2019: $25MCMTL FY2020: $7MCMTL FY2021: -$73.5MCMTL FY2022: -$33.1MCMTL FY2023: -$26.9MCMTL FY2024: -$100MCMTL FY2025: -$155.3MHLIT FY2018: -$21MHLIT FY2019: -$5.9MHLIT FY2020: -$29.3MHLIT FY2021: $13.3MHLIT FY2022: $28.2MHLIT FY2023: $84MHLIT FY2024: $39.2MHLIT FY2025: -$43.3MFY18FY19FY20FY21FY22FY23FY24FY25
CMTL -$155.3MHLIT -$43.3M
Net margin
CMTL FY2018: 5.2%CMTL FY2019: 3.7%CMTL FY2020: 1.1%CMTL FY2021: -12.6%CMTL FY2022: -6.8%CMTL FY2023: -4.9%CMTL FY2024: -18.5%CMTL FY2025: -31.1%HLIT FY2018: -5.2%HLIT FY2019: -1.5%HLIT FY2020: -7.7%HLIT FY2021: 2.6%HLIT FY2022: 4.5%HLIT FY2023: 21.6%HLIT FY2024: 8.0%HLIT FY2025: -12.0%FY18FY19FY20FY21FY22FY23FY24FY25
CMTL -31.1%HLIT -12.0%
Revenue growth
CMTL FY2019: +17.7%CMTL FY2020: -8.2%CMTL FY2021: -5.7%CMTL FY2022: -16.4%CMTL FY2023: +13.1%CMTL FY2024: -1.7%CMTL FY2025: -7.6%HLIT FY2019: -0.2%HLIT FY2020: -6.0%HLIT FY2021: +33.9%HLIT FY2022: +23.2%HLIT FY2023: -37.8%HLIT FY2024: +25.7%HLIT FY2025: -26.2%FY19FY20FY21FY22FY23FY24FY25
CMTL -7.6%HLIT -26.2%
Free cash flow
CMTL FY2018: $41.7MCMTL FY2019: $59.2MCMTL FY2020: $45.5MCMTL FY2021: -$56.7MCMTL FY2022: -$17.6MCMTL FY2023: -$22.7MCMTL FY2024: -$67.6MCMTL FY2025: -$16.9MHLIT FY2018: $5.2MHLIT FY2019: $21MHLIT FY2020: $7MHLIT FY2021: $28MHLIT FY2022: -$3.8MHLIT FY2023: -$1.4MHLIT FY2024: $52.7MHLIT FY2025: $96.9MFY18FY19FY20FY21FY22FY23FY24FY25
CMTL -$16.9MHLIT $96.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Comtech Telecommunications and Harmonic

Which is bigger by revenue, Comtech Telecommunications or Harmonic?

Comtech Telecommunications is bigger by revenue: $499.5M in fiscal 2025, against $360.5M for Harmonic in fiscal 2025.

Which keeps more of its revenue as profit, Comtech Telecommunications or Harmonic?

Comtech Telecommunications had a net margin of -31.1% in fiscal 2025; Harmonic had -12.0% in fiscal 2025.

Which grew revenue faster, Comtech Telecommunications or Harmonic?

In their latest fiscal years revenue changed by -7.6% at Comtech Telecommunications and -26.2% at Harmonic.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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