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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 (NASDAQ and TSX: TSAT) reported its financial results for the year ended December 31, 2022, with total revenue at $759 million, stable year-over-year. Adjusted EBITDA was $568 million, a 5% decline, yielding a margin of 74.8%. The company recorded a net loss of $80 million, significantly down from a net income of $155 million in 2021, primarily due to unfavorable foreign exchange effects and C-band spectrum costs. Despite the challenges, Telesat closed 2022 with $1.7 billion in cash and a substantial backlog of $1.8 billion.
Looking ahead, Telesat anticipates 2023 revenue between $690 million and $710 million.
Telesat (NASDAQ and TSX: TSAT) has announced a conference call scheduled for March 29, 2023, at 10:30 a.m. ET to discuss its financial results for the fiscal year ending December 31, 2022. The call will be led by President and CEO Daniel S. Goldberg and CFO Andrew Browne. Prior to the call, Telesat will release its financial results on its website under the 'Investors' section. Interested parties can join the call via a toll-free number or through a live webcast. A replay will be available shortly after the call until April 12, 2023. Telesat continues to innovate in satellite connectivity solutions, particularly with its Telesat Lightspeed LEO satellite network.
Telesat (NASDAQ and TSX: TSAT) has partnered with Anuvu to enhance satellite operations through the leasing of new antennas and ground-station infrastructure, set to enter service in late 2023. This collaboration will support the Anuvu Constellation, facilitating connectivity across the continental U.S., Caribbean, and Mexico.
The infrastructure allows for efficient Tracking, Telemetry, and Control (TT&C) of Anuvu’s upcoming MicroGEO satellites. With advanced antenna capabilities, the project aims to reduce latency and improve network resiliency, benefiting mobility customers. The partnership strengthens their existing relationship, positioning both companies for future growth.
Telesat (NASDAQ and TSX: TSAT) announced the launch of its national Fellowship for Indigenous Youth program on January 25, 2023. This initiative aims to provide scholarships and paid internships for Indigenous students pursuing studies in STEM fields. Each selected student will receive a $5,000 scholarship, a $15,000 stipend, and an 8-month internship at Telesat's teleport facilities in various provinces. The program addresses the low representation of Indigenous Canadians in STEM, currently under 2%. Scholarship applications are open until March 30, 2023. This effort supports Telesat's commitment to enhancing diversity and fostering innovation in the space sector.
Telesat (NASDAQ and TSX: TSAT) has appointed Philip Harlow as President of Telesat Government Solutions, focusing on secure satellite solutions for the U.S. Government and allied nations. Harlow brings over 25 years of experience in delivering SATCOM solutions. He succeeds Tom Eaton, who is retiring after significant contributions, including contract awards for NASA and DARPA projects. Telesat's upcoming Lightspeed network is expected to revolutionize LEO connectivity, enhancing capabilities for government and defense missions.
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