Frequency Electronics reports fourth-quarter and fiscal-year 2026 financial results and provides forward-looking targets through fiscal 2029. The company states it has a record $111 million funded backlog, describing it as up 34% sequentially and 59% year over year. Based on this backlog, Frequency Electronics targets at least $150 million in revenue by fiscal 2029, which it frames as implying a 34% compound annual growth rate. The company also sets a three-year minimum gross margin target of 50% and a three-year operating margin target of 30%. According to the reported materials, the company reaffirms the revenue goal while laying out an approach intended to support operating leverage. The plan emphasizes front-loading investments and pruning non-core business activities, with the stated aim of improving margin performance over the multi-year period. Both sources associate the targets with the reported increase in funded backlog, treating it as the basis for expected demand and execution toward the company’s fiscal 2029 objectives.