The operator’s attributable loss for the third quarter reached 47 million Canadian dollars, or C$3.09 per share, up from C$35.3 million during the same period last year. Revenue dropped 20% to C$80.6 million, pressured by the non-renewal of a broadcast contract and reduced service capacity for several North American broadband customers. Adjusted Ebitda plummeted to C$12.1 million from C$46.8 million, reflecting the contraction of its core satellite business.
In section Market Quotes
Telesat Maintains Financial Outlook Despite Deepening Quarterly Losses
Telesat is holding firm to its full-year financial projections even as the Canadian satellite operator reported a widening quarterly loss and a significant revenue decline. The company attributes its current fiscal strain to shifts in financing warrant values and the loss of key broadcast contracts within its geostationary segment.
Despite these headwinds, Telesat continues to target 2026 geostationary revenue between C$300 million and C$320 million. The company’s long-term strategy relies heavily on its low-Earth orbit constellation, which currently holds a backlog of roughly C$5.6 billion. This includes a landmark C$2.7 billion deal signed in August to provide secure military satellite communications to the Canadian Armed Forces in the Arctic.
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