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Telesat Corporation (NASDAQ and TSX: TSAT) is one of the largest and most innovative global satellite operators, providing mission-critical communications services to a diverse range of clients. Based in Canada, Telesat operates a single business segment, offering satellite-based services to broadcast, enterprise, and consulting customers internationally.
Telesat's core operations are centered around its groundbreaking satellite networks, including the Telesat Lightspeed Low Earth Orbit (LEO) constellation. This network, comprising 198 state-of-the-art satellites, is integrated with on-ground infrastructures to deliver high-capacity, low-latency broadband connectivity. Telesat Lightspeed is designed to meet the rigorous requirements of telecom, government, maritime, and aeronautical industries, promising fibre-like speeds and global coverage.
Recently, Telesat has made significant strides in expanding its reach and capabilities. A notable partnership with Mage Networks aims to leverage the Telesat Lightspeed network to bring broadband internet to unserved and underserved communities in Canada. Another collaboration with Avanti Communications will enhance Avanti's multi-orbit broadband services, targeting enterprise and government customers starting from 2027.
In addition, Telesat has entered a multi-year agreement with ThinKom to certify the Ka2517 antenna for its Lightspeed network, ensuring robust inflight connectivity. This collaboration is set to revolutionize airborne broadband, providing airlines and passengers with high-throughput, low-latency communications globally.
Financially, Telesat reported an adjusted EBITDA of $123 million for the recent quarter, although this marks an 11% decrease compared to the previous year. The net income also saw a decline, from $91 million to $39 million. Despite these challenges, Telesat continues to invest in its innovative satellite solutions, aiming to drive profitable growth and maintain its position as a leader in satellite communications.
For more information and updates, follow Telesat on their website, @Telesat on X, or on LinkedIn.
Telesat and MDA Space have successfully completed the spacecraft Preliminary Design Review (PDR) for the Telesat Lightspeed low Earth orbit constellation program. This milestone validates the satellite design's capability to meet performance requirements. The project involves an initial order of 198 satellites powered by MDA's AURORA digital satellite technology.
The companies are now moving forward with detailed engineering and manufacturing, including the Critical Design Review. MDA Space is constructing a new high-volume satellite manufacturing facility in Montreal to double its production capacity, where the Telesat Lightspeed satellites will be manufactured. Satellite launches are planned to begin in 2026.
Telesat reported Q3 2024 financial results with consolidated revenue of $138 million, a 20.9% decrease from 2023. The company achieved an 80% Adjusted EBITDA margin in its GEO segment with a $1.0 billion contractual backlog. Net income was $68 million compared to a $4 million loss in Q3 2023. The company secured funding agreements with Canadian and Quebec governments totaling $2.54 billion for its Telesat Lightspeed LEO constellation project. For 2024, Telesat expects revenues between $545-565 million and Adjusted EBITDA between $340-360 million.
Telesat (NASDAQ and TSX: TSAT) has scheduled a conference call for Thursday, November 14, 2024, at 10:30 a.m. EST to discuss its financial results for Q3 2024 and the nine-month period ended September 30, 2024. The call will be hosted by CEO Daniel S. Goldberg and CFO Andrew Browne. Financial results will be posted on Telesat's website prior to the call. The event will be accessible via toll-free dial-in numbers and webcast, with a replay available until November 30, 2024.
Telesat has signed a US$39 million contract with SatixFy for the development and delivery of Landing Station Baseband Units for the Telesat Lightspeed Network. Under the agreement, SatixFy will design and supply Landing Station Baseband systems over a 28-month period, enabling high-speed communication between Telesat Lightspeed LEO satellites and Landing Stations. The contract includes US$5 million already paid to SatixFy in a previous period. The Telesat Lightspeed constellation aims to provide global, high-speed, low-latency broadband connectivity for enterprise and government organizations.
Telesat has signed a US$39 million contract with SatixFy for the development and delivery of Landing Station Baseband Units for the Telesat Lightspeed Network. The agreement includes equipment and non-recurring engineering charges, with US$5 million already paid. SatixFy will deliver the systems over a 28-month period, enabling high-speed communication between Telesat Lightspeed Low Earth Orbit satellites and Landing Stations. The Lightspeed constellation aims to provide global, high-speed, low-latency broadband connectivity for enterprise and government organizations.
Telesat (NASDAQ/TSX: TSAT) has signed a Memorandum of Understanding with Airbus SAS to integrate the Telesat Lightspeed low earth orbit network within Airbus's HBCplus Ka-band solution portfolio. The collaboration aims to address user terminal integration for HBCplus installations capable of providing Telesat Lightspeed services. The partnership will enable Telesat's channel partners to integrate Lightspeed services into their portfolios as HBCplus Managed Service Providers, while complementing Airbus's current MEO & GEO offerings with low latency connectivity solutions.
Telesat (NASDAQ and TSX: TSAT) has awarded Intellian a contract to design, supply, install, and integrate 127 Gateway Antenna Systems for the Telesat Lightspeed LEO constellation. Intellian's 4-meter Gateway Antenna System features enhanced tracking precision, high gain performance, and weather durability without requiring radomes, reducing maintenance and energy costs. The Landing Stations, equipped with multiple Intellian Gateway Antennas and control systems, will route customer data to Points-of-Presence for telecom networks, internet, and cloud services, while enabling private customer network interconnections. The global terrestrial infrastructure is scheduled for service deployment in 2027.
Telesat (NASDAQ and TSX: TSAT) has appointed Brigadier-General (Ret'd) G. Michael Adamson as the new Senior Director of Defence Strategy and Business Development. Adamson will focus on expanding the government go-to-market and business development strategy for the Telesat Lightspeed low earth orbit (LEO) network, particularly in Canada, the U.S., and allied nations.
Adamson's role will involve cultivating relationships with government and industry partners, and evolving strategies for Telesat Lightspeed to address key government SATCOM demands. His experience as the inaugural Commander of the Canadian Armed Forces 3 Canadian Space Division and Joint Force Space Component Commander is expected to be valuable in advancing space domain operations and capabilities for government customers.
Telesat (NASDAQ and TSX: TSAT) has secured $2.54 billion in funding for its Telesat Lightspeed Low Earth Orbit (LEO) broadband satellite constellation. The funding includes a $2.14 billion loan from the Government of Canada and a $400 million loan from the Government of Quebec. Both loans carry a floating interest rate 4.75% above CORRA with a 15-year maturity. The governments will receive warrants for 10% and 1.87% of Telesat LEO shares, respectively.
The Telesat Lightspeed network aims to bridge the digital divide by expanding internet and 5G networks globally. Telesat expects to launch the first satellites in mid-2026 and projects 2024 capital expenditures between $1 billion to $1.4 billion. The project is anticipated to create thousands of high-quality Canadian jobs and deliver significant investment in the Canadian economy.
Telesat (NASDAQ and TSX: TSAT) has selected Calian Group (TSX:CGY) to design, develop, and deploy the Element Management System (EMS) for the Telesat Lightspeed Low Earth Orbit (LEO) satellite network. The EMS will be important in connecting and maintaining operations for various components within the network, ensuring optimal performance. Telesat will use the EMS to manage the configuration of Lightspeed Landing Stations, User Terminals, and satellite onboard processors, as well as collect and share system data with Operations Support Systems and Network Operations Centers.
The Telesat Lightspeed constellation aims to offer high-speed, low-latency broadband connectivity to remote locations globally, supporting multi-Gbps data rates for various industries and helping bridge the digital divide. This project, the largest space program in Canada's history, is expected to create thousands of high-quality Canadian jobs and position Canada at the forefront of the New Space Economy.
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