C-COM Satellite Systems Reports Fiscal Year 2024 Results and Strategic Developments

C-Com Satellite Systems ( (TSE:CMI) ) has shared an update.

C-COM Satellite Systems Inc. reported a 5% decline in revenue for fiscal year 2024, with a net loss of $211,475, attributed to lower gross margins and increased R&D investments. Despite these challenges, the company maintained strong cash flow, increasing its cash and investments by 3% to $16 million. The company is adapting to industry changes by investing in the development of its electronically steered Ka-band antenna and analog beamforming integrated circuit, with successful testing on Telesat’s satellites and plans for further tests. This strategic focus aims to position C-COM as a leader in providing low-cost, high-throughput mobility applications over various satellite constellations.

More about C-Com Satellite Systems

C-COM Satellite Systems Inc. is a leading global designer, developer, and manufacturer of transportable and mobile satellite-based antenna systems. The company specializes in proprietary auto-acquisition controller technology for satellite broadband internet, serving markets such as oil and gas exploration, military communications, and emergency services. C-COM has sold over 11,000 antenna systems in more than 100 countries and is known for its iNetVu® brand, which is associated with high quality and cost-effectiveness. The company is publicly traded on the Canadian Venture Exchange and the US OTC Exchange.

YTD Price Performance: -3.36%

Average Trading Volume: 9,227

Technical Sentiment Signal: Hold

Current Market Cap: C$48.59M

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