Transmission loss compensation is provided for receiver circuits in general, including an ATE receiver circuit having a voltage-to-current converter, such as a transconductance amplifier, that receives a distorted DUT signal and provides an output to a current-to-voltage converter, such as a transimpedance amplifier. The compensation circuit injects a compensation current into the current-to-voltage converter to compensate for transmission losses. The compensation circuit can be configured to inject a plurality of transient compensation currents with different respective time constants and peak values.