COMSovereign Financials

COMS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2023 Currency USD FYE December

This page shows COMSovereign (COMS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

3/9

COMSovereign passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.12x

For every $1 of reported earnings, COMSovereign generates $0.12 in operating cash flow (-$9.5M OCF vs -$79.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Revenue

$9.9M

YoY+9.0%

5Y CAGR+77.4%

10Y CAGR+15.0%

COMSovereign generated $9.9M in revenue in fiscal year 2022. This represents an increase of 9.0% from the prior year.

EBITDA

N/A

Free Cash Flow

-$9.7M

YoY+77.0%

COMSovereign generated -$9.7M in free cash flow in fiscal year 2022, representing cash available after capex. This represents an increase of 77.0% from the prior year.

Net Income

-$79.7M

YoY+47.9%

COMSovereign reported -$79.7M in net income in fiscal year 2022. This represents an increase of 47.9% from the prior year.

EPS (Diluted)

$-72.70

COMSovereign earned $-72.70 per diluted share (EPS) in fiscal year 2022. This represents a decrease of 3204.5% from the prior year.

Cash & Debt

$1.9M

YoY+17.0%

5Y CAGR+24.9%

10Y CAGR+27.7%

COMSovereign held $1.9M in cash against $1.9M in long-term debt as of fiscal year 2022.

Dividends Per Share

N/A

Shares Outstanding

238M

COMSovereign had 238M shares outstanding in fiscal year 2022. This represents an increase of 28955.3% from the prior year.

Gross Margin

23.1%

YoY-26.3pp

5Y CAGR-16.6pp

10Y CAGR-34.6pp

COMSovereign's gross margin was 23.1% in fiscal year 2022, indicating the percentage of revenue retained after direct costs. This is down 26.3 percentage points from the prior year.

Operating Margin

N/A

Net Margin

-807.0%

YoY+881.6pp

5Y CAGR+1029.8pp

10Y CAGR-467.6pp

COMSovereign's net profit margin was -807.0% in fiscal year 2022, showing the share of revenue converted to profit. This is up 881.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$2.4M

YoY-41.8%

COMSovereign invested $2.4M in research and development in fiscal year 2022. This represents a decrease of 41.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$165K

YoY-94.6%

5Y CAGR+17.5%

COMSovereign invested $165K in capex in fiscal year 2022, funding long-term assets and infrastructure. This represents a decrease of 94.6% from the prior year.

COMS Income Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	$9.9M+9.0%	$9.1M-3.9%	$9.4M+100.1%	$4.7M+73.1%	$2.7M+384.4%	$562K
Cost of Revenue	$7.6M+65.7%	$4.6M-0.3%	$4.6M+53.7%	$3.0M+35.1%	$2.2M+554.0%	$339K
Gross Profit	$2.3M-49.0%	$4.5M-7.2%	$4.8M+180.6%	$1.7M+238.5%	$509K+127.5%	$223K
R&D Expenses	$2.4M-41.8%	$4.0M+100.9%	$2.0M+1055.2%	$174K	N/A	N/A
SG&A Expenses	$17.8M-28.7%	$24.9M+42.6%	$17.5M+22.1%	$14.3M+65.8%	$8.6M-14.2%	$10.1M
Operating Income	N/A	-$145.5M-434.6%	-$27.2M-34.4%	-$20.3M-149.1%	-$8.1M+17.4%	-$9.8M
Interest Expense	$4.0M+42.2%	$2.8M-75.3%	$11.3M+34.6%	$8.4M+2338.2%	$344K-78.8%	$1.6M
Income Tax	N/A	N/A	-$2.9M-902.1%	-$290K	N/A	N/A
Net Income	-$79.7M+47.9%	-$153.0M-312.7%	-$37.1M-34.6%	-$27.5M-225.0%	-$8.5M+17.9%	-$10.3M
EPS (Diluted)	$-72.70	$-2.20	$-0.82	$-1.70	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q3'22	Q3'22	Q2'22	Q1'22	Q4'21
Revenue	$250K-92.8%	$3.5M+623.8%	$483K-75.1%	$1.9M-48.9%	$3.8M+81.8%	$2.1M+1.7%	$2.1M+419.7%	$395K
Cost of Revenue	$104K-87.1%	$809K+168.8%	$301K-77.5%	$1.3M-25.6%	$1.8M-39.8%	$3.0M+101.0%	$1.5M+50.4%	$986K
Gross Profit	$146K-94.6%	$2.7M+1376.4%	$182K-70.0%	$606K-69.7%	$2.0M+324.1%	-$893K-256.7%	$570K+196.4%	-$591K
R&D Expenses	$46K-6.1%	$49K-14.0%	$57K-90.0%	$572K+673.0%	$74K-86.2%	$536K-54.3%	$1.2M+388.3%	$240K
SG&A Expenses	$1.0M-30.0%	$1.5M-31.8%	$2.2M-44.6%	$3.9M+47.1%	$2.7M-50.5%	$5.4M-6.6%	$5.8M+13.2%	$5.1M
Operating Income	-$1.0M-193.1%	$1.1M+142.3%	-$2.6M-57.9%	-$1.6M-135.8%	-$689K+98.1%	-$36.8M-3036.6%	$1.3M+101.1%	-$114.5M
Interest Expense	$415K+2.7%	$404K-3.6%	$419K-57.9%	$996K+31.9%	$755K-44.0%	$1.3M+53.4%	$879K-17.0%	$1.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.4M-323.2%	$638K+112.9%	-$4.9M+87.7%	-$40.1M-1952.4%	-$2.0M+94.8%	-$37.7M-27856.6%	$136K+100.1%	-$115.6M
EPS (Diluted)	$-0.60-452.9%	$0.17+108.6%	$-1.97+97.2%	$-70.04-3069.2%	$-2.21-391.1%	$-0.45	$0.00-100.0%	$12.72

COMS Balance Sheet

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$24.9M-71.9%	$88.5M-32.4%	$130.9M+9.1%	$120.0M+3273.7%	$3.6M+15.7%	$3.1M
Current Assets	$12.0M-44.5%	$21.6M+181.0%	$7.7M-11.4%	$8.7M+221.2%	$2.7M+48.2%	$1.8M
Cash & Equivalents	$1.9M+17.0%	$1.6M+218231.1%	$731-99.9%	$812K-64.4%	$2.3M+270.9%	$615K
Inventory	$4.0M-61.3%	$10.2M+125.8%	$4.5M-2.9%	$4.7M+1417.1%	$308K-68.9%	$992K
Accounts Receivable	$1.1M-18.2%	$1.4M+74.8%	$787K-63.7%	$2.2M+11948.1%	$18K-83.6%	$110K
Goodwill	$7.3M-80.7%	$37.9M-41.5%	$64.8M+15.0%	$56.4M+56400.4%	$100K0.0%	$100K
Total Liabilities	$39.9M-1.1%	$40.4M+8.2%	$37.3M+119.1%	$17.0M+585.7%	$2.5M-53.8%	$5.4M
Current Liabilities	$27.9M+10.7%	$25.2M-26.4%	$34.3M+126.3%	$15.1M+509.4%	$2.5M+4.5%	$2.4M
Long-Term Debt	$1.9M-84.6%	$12.3M+1638.4%	$706K-86.9%	$5.4M	N/A	N/A
Total Equity	-$15.0M-131.2%	$48.2M-48.5%	$93.5M-9.1%	$102.9M+9507.2%	$1.1M+146.5%	-$2.3M
Retained Earnings	-$297.6M-36.6%	-$217.8M-237.1%	-$64.6M-134.6%	-$27.5M+28.4%	-$38.5M-28.3%	-$30.0M

Metric	Q3'23	Q2'23	Q1'23	Q3'22	Q3'22	Q2'22	Q1'22	Q4'21
Total Assets	$20.3M-2.9%	$20.9M-6.6%	$22.4M-10.3%	$24.9M-56.0%	$56.6M+1.6%	$55.7M-39.3%	$91.8M+3.7%	$88.5M
Current Assets	$10.7M-6.2%	$11.4M-6.2%	$12.2M+1.6%	$12.0M-23.1%	$15.6M+4.0%	$15.0M-30.4%	$21.5M-0.3%	$21.6M
Cash & Equivalents	$2.0M-15.0%	$2.4M-21.7%	$3.1M+64.0%	$1.9M+248.5%	$536K+325.4%	$126K-73.0%	$466K-70.8%	$1.6M
Inventory	$3.8M-1.1%	$3.8M-12.2%	$4.3M+9.3%	$4.0M-43.5%	$7.0M-6.1%	$7.5M-38.1%	$12.1M+17.8%	$10.2M
Accounts Receivable	$38K-88.6%	$333K-30.9%	$482K-57.2%	$1.1M-59.8%	$2.8M+32.7%	$2.1M-18.5%	$2.6M+88.2%	$1.4M
Goodwill	$6.6M0.0%	$6.6M0.0%	$6.6M-9.5%	$7.3M-75.7%	$30.0M0.0%	$30.0M-20.9%	$38.0M+0.1%	$37.9M
Total Liabilities	$37.7M+2.6%	$36.8M-5.2%	$38.8M-2.8%	$39.9M-5.4%	$42.2M+2.6%	$41.1M-1.9%	$41.9M+3.8%	$40.4M
Current Liabilities	$28.1M+5.2%	$26.7M-6.2%	$28.4M+1.8%	$27.9M+7.0%	$26.1M+7.9%	$24.2M+85.7%	$13.0M-48.4%	$25.2M
Long-Term Debt	N/A	$550K0.0%	$550K-71.0%	$1.9M-64.8%	$5.4M-8.9%	$5.9M-64.9%	$16.8M+37.0%	$12.3M
Total Equity	-$17.5M-9.8%	-$15.9M+3.2%	-$16.4M-9.6%	-$15.0M-204.1%	$14.4M-1.3%	$14.6M-70.7%	$49.9M+3.6%	$48.2M
Retained Earnings	-$303.3M-0.5%	-$301.8M+0.2%	-$302.5M-1.7%	-$297.6M-15.6%	-$257.4M-0.8%	-$255.5M-17.3%	-$217.7M+0.1%	-$217.8M

COMS Cash Flow Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	-$9.5M+75.6%	-$39.1M-549.3%	-$6.0M+12.2%	-$6.9M-187.0%	-$2.4M+28.2%	-$3.3M
Capital Expenditures	$165K-94.6%	$3.1M+1624.9%	$177K+103.4%	$87K+1548.8%	$5K-92.8%	$74K
Free Cash Flow	-$9.7M+77.0%	-$42.1M-580.0%	-$6.2M+10.7%	-$6.9M-190.0%	-$2.4M+29.6%	-$3.4M
Investing Cash Flow	$14.9M+258.2%	-$9.4M-184.1%	-$3.3M-217.1%	$2.8M+5086.7%	$55K+174.1%	-$74K
Financing Cash Flow	-$6.5M-112.4%	$52.4M+466.7%	$9.2M+90.4%	$4.9M+21.3%	$4.0M+100.0%	$2.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'23	Q2'23	Q1'23	Q3'22	Q3'22	Q2'22	Q1'22	Q4'21
Operating Cash Flow	-$621K+6.5%	-$664K-212.7%	$589K-50.0%	$1.2M+211.4%	$378K+114.4%	-$2.6M+69.0%	-$8.5M-41.8%	-$6.0M
Capital Expenditures	$0	$0-100.0%	$675+133.8%	-$2K	$0+100.0%	-$26K-113.5%	$193K	$0
Free Cash Flow	-$955K-29.9%	-$735K-31.1%	-$561K-147.7%	$1.2M+210.8%	$378K+114.3%	-$2.6M+69.4%	-$8.7M-45.0%	-$6.0M
Investing Cash Flow	$0	$0-100.0%	$436K+21700.0%	$2K	$0-100.0%	$26K-99.8%	$14.9M+2112.0%	-$741K
Financing Cash Flow	$260K	$0-100.0%	$170K-74.3%	$661K+1965.6%	$32K-91.8%	$392K+105.2%	-$7.6M-235.3%	$5.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

COMS Financial Ratios

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Gross Margin	23.1%-26.3pp	49.5%-1.8pp	51.2%+14.7pp	36.5%+17.9pp	18.7%-21.1pp	39.8%
Operating Margin	N/A	-1605.6%-1316.8pp	-288.8%+141.0pp	-429.8%-131.2pp	-298.6%+1453.2pp	-1751.8%
Net Margin	-807.0%+881.6pp	-1688.5%-1295.2pp	-393.4%+191.2pp	-584.6%-273.3pp	-311.3%+1525.5pp	-1836.8%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-319.9%-147.0pp	-172.9%-144.6pp	-28.3%-5.4pp	-23.0%+215.3pp	-238.3%+97.6pp	-335.9%
Current Ratio	0.43-0.4	0.86+0.6	0.22-0.3	0.57-0.5	1.09+0.3	0.77
Debt-to-Equity	-0.13-0.4	0.25+0.2	0.01-0.0	0.05-2.3	2.32+4.7	-2.33
FCF Margin	-98.1%+366.8pp	-464.9%-399.2pp	-65.7%+81.5pp	-147.3%-59.4pp	-87.9%+517.0pp	-604.9%

Metric	Q3'23	Q2'23	Q1'23	Q3'22	Q3'22	Q2'22	Q1'22	Q4'21
Gross Margin	58.4%-18.5pp	76.9%+39.2pp	37.7%+6.5pp	31.2%-21.5pp	52.7%+95.5pp	-42.8%-70.5pp	27.8%+177.4pp	-149.6%
Operating Margin	-403.6%-434.6pp	31.0%+562.1pp	-531.1%-119.5pp	-411.6%-393.4pp	-18.1%+1742.7pp	-1760.8%-1821.8pp	61.0%+29046.5pp	-28985.5%
Net Margin	-569.6%-587.9pp	18.3%+1039.0pp	-1020.7%+1047.5pp	-2068.2%-2016.7pp	-51.5%+1756.4pp	-1807.9%-1814.5pp	6.6%+29266.6pp	-29260.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	0.3%	N/A
Return on Assets	-7.0%-10.1pp	3.0%+25.1pp	-22.1%+139.1pp	-161.1%-157.6pp	-3.5%+64.3pp	-67.8%-67.9pp	0.1%+130.7pp	-130.6%
Current Ratio	0.38-0.0	0.430.0	0.430.0	0.43-0.2	0.60-0.0	0.62-1.0	1.65+0.8	0.86
Debt-to-Equity	-2.16-2.1	-0.030.0	-0.03+0.1	-0.13-0.5	0.37-0.0	0.40+0.1	0.34+0.1	0.25
FCF Margin	-1025.6%+4272.5pp	-5298.1%-5145.6pp	-152.5%-213.1pp	60.5%+50.6pp	10.0%+136.8pp	-126.8%+294.8pp	-421.6%+1089.3pp	-1510.9%

Note: Shareholder equity is negative (-$15.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.43), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Dzs Inc DZSI

$15.1M

C-Com Satellite CYSNF

$30.5M

Edgewater Wireless Sys Inc KPIFF

$13.0M

Novra Technologi NVRVF

$2.1M

Comsovereign Holding Prf COMSP

Frequently Asked Questions

What is COMSovereign's annual revenue?

COMSovereign (COMS) reported $9.9M in total revenue for fiscal year 2022. This represents a 9.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is COMSovereign's revenue growing?

COMSovereign (COMS) revenue grew by 9% year-over-year, from $9.1M to $9.9M in fiscal year 2022.

Is COMSovereign profitable?

No, COMSovereign (COMS) reported a net income of -$79.7M in fiscal year 2022, with a net profit margin of -807.0%.

What is COMSovereign's earnings per share (EPS)?

COMSovereign (COMS) reported diluted earnings per share of $-72.70 for fiscal year 2022. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does COMSovereign have?

As of fiscal year 2022, COMSovereign (COMS) had $1.9M in cash and equivalents against $1.9M in long-term debt.

What is COMSovereign's gross margin?

COMSovereign (COMS) had a gross margin of 23.1% in fiscal year 2022, indicating the percentage of revenue retained after direct costs of goods sold.

What is COMSovereign's net profit margin?

COMSovereign (COMS) had a net profit margin of -807.0% in fiscal year 2022, representing the share of revenue converted into profit after all expenses.

What is COMSovereign's free cash flow?

COMSovereign (COMS) generated -$9.7M in free cash flow during fiscal year 2022. This represents a 77.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is COMSovereign's operating cash flow?

COMSovereign (COMS) generated -$9.5M in operating cash flow during fiscal year 2022, representing cash generated from core business activities.

What are COMSovereign's total assets?

COMSovereign (COMS) had $24.9M in total assets as of fiscal year 2022, including both current and long-term assets.

What are COMSovereign's capital expenditures?

COMSovereign (COMS) invested $165K in capital expenditures during fiscal year 2022, funding long-term assets and infrastructure.

How much does COMSovereign spend on research and development?

COMSovereign (COMS) invested $2.4M in research and development during fiscal year 2022.

How many shares does COMSovereign have outstanding?

COMSovereign (COMS) had 238M shares outstanding as of fiscal year 2022.

What is COMSovereign's current ratio?

COMSovereign (COMS) had a current ratio of 0.43 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

What is COMSovereign's debt-to-equity ratio?

COMSovereign (COMS) had a debt-to-equity ratio of -0.13 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is COMSovereign's return on assets (ROA)?

COMSovereign (COMS) had a return on assets of -319.9% for fiscal year 2022, measuring how efficiently the company uses its assets to generate profit.

What is COMSovereign's cash runway?

Based on fiscal year 2022 data, COMSovereign (COMS) had $1.9M in cash against an annual operating cash burn of $9.5M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is COMSovereign's debt-to-equity ratio negative or unusual?

COMSovereign (COMS) has negative shareholder equity of -$15.0M as of fiscal year 2022, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is COMSovereign's Piotroski F-Score?

COMSovereign (COMS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are COMSovereign's earnings high quality?

COMSovereign (COMS) has an earnings quality ratio of 0.12x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.