Welcome to our dedicated page for Telesat Corporation news (Ticker: TSAT), a resource for investors and traders seeking the latest updates and insights on Telesat Corporation stock.
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.
On December 15, 2022, Telesat (NASDAQ and TSX: TSAT) and Spacecom announced the successful completion of testing for Telesat's Phase 1 LEO demonstration satellite. The tests, conducted in Israel, achieved average latency below 30 milliseconds and data rates exceeding 50 Mbps. The demonstration involved various applications, providing reliable connectivity akin to land-based internet. This collaboration is a step towards Telesat's Lightspeed services, aimed at enhancing connectivity for enterprise and remote users, leveraging both companies’ strengths in satellite technology.
Telesat (NASDAQ and TSX: TSAT) has signed a Master Services Agreement with Artel, LLC to provide Telesat Lightspeed services, marking a significant step following their earlier Memorandum of Understanding. Artel, as Telesat's first reseller for U.S. Government connectivity, aims to deliver advanced low-latency services through Telesat's enterprise-class network. This network promises multi-gigabit links and high security features, including jam resistance and data encryption, ensuring compliance with strict cybersecurity standards.
On December 6, 2022, Telesat (NASDAQ and TSX: TSAT) announced a significant achievement with Sencinet, which secured a 5-year high-throughput satellite capacity commitment to enhance Petrobras' connectivity network. This project leverages Telesat's Telstar 19 VANTAGE satellite, optimizing connectivity in Brazil’s Pre-salt oil region. The high-power Ku-band spot beam is designed to deliver exceptional data throughput while reducing costs. Telesat's partnerships aim to provide cutting-edge communication solutions that drive operational efficiencies and growth for enterprise clients.
Telesat (NASDAQ and TSX: TSAT) reported its financial results for Q3 and the first nine months of 2022, revealing a 6% decrease in quarterly revenue to $180 million compared to 2021, primarily due to a reduced contract with a North American DTH customer. The company also faced a net loss of $229 million for the quarter, adversely impacted by non-cash foreign exchange losses. However, Telesat ended the quarter with $1.7 billion in cash and substantial backlog of $1.9 billion. Looking ahead, the company anticipates full year revenues of between $740 million and $750 million.
Telesat (NASDAQ and TSX: TSAT) has announced a conference call scheduled for November 8, 2022, at 10:30 a.m. ET to discuss its financial results for the three-month and nine-month periods ending September 30, 2022. The call will be hosted by President and CEO Daniel S. Goldberg and CFO Andrew Browne. Prior to the call, financial results will be posted on Telesat's investor relations webpage. Interested participants can dial in or access the webcast. Telesat continues to innovate in satellite connectivity with its upcoming Low Earth Orbit (LEO) network, Telesat Lightspeed.
Telesat (NASDAQ and TSX: TSAT) announced its financial results for Q2 and H1 2022, reporting a slight revenue decline of 1% to $187 million and a 2% decrease for the six-month period to $372 million. The net loss for Q2 was $4 million, contrasting a net income of $53 million in 2021, primarily due to a non-cash foreign exchange loss. Adjusted EBITDA margin held steady at 78.4%. Telesat forecasts full-year revenue of $740-750 million and Adjusted EBITDA of $545-560 million, indicating a positive outlook. The company also reported a significant backlog of $1.9 billion for future services.
Telesat (NASDAQ and TSX: TSAT) has announced a conference call for August 5, 2022, at 10:30 a.m. ET to discuss its financial results for Q2 2022. The call will be led by CEO Daniel S. Goldberg and CFO Andrew Browne. Financial results will be released on the company's website prior to the call. Participants can join via phone or stream the webcast. A replay will be available until August 19, 2022. Telesat is recognized as a leading global satellite operator, offering innovative connectivity solutions through its upcoming Telesat Lightspeed Low Earth Orbit satellite network.
Telesat (NASDAQ and TSX: TSAT) held its annual shareholder meeting virtually on June 1, 2022, where all proposed items were approved. Key outcomes included the election of directors with significant votes. Melanie Bernier received 52,631,218 votes for her election. The company’s continued focus on innovation, especially through its Telesat Lightspeed LEO network, aims to provide high-capacity links with fiber-like speeds to enhance global connectivity. Final results will be available on SEDAR and EDGAR.
Telesat (NASDAQ and TSX: TSAT) and Telefónica have successfully completed the first 5G Low Earth Orbit (LEO) satellite backhaul demonstration in Brazil and Latin America. The campaign utilized an 85cm Intellian terminal, achieving performance metrics comparable to fiber connectivity. Testing included latency, jitter, and bitrate measurements, all meeting integration requirements for 5G networks. Telesat's Lightspeed network aims to deliver high-capacity, affordable satellite connectivity, offering significant potential for global 5G rollout.
Telesat (NASDAQ and TSX: TSAT), a leading satellite operator, will participate in two investor conferences. One-on-one meetings are scheduled for May 11-13, 2022, at the Seventh Annual Goldman Sachs Leveraged Finance and Credit Conference in California. Additionally, Telesat will engage in the J.P. Morgan Global Technology, Media and Communications Conference from May 23-25, 2022, where President and CEO Dan Goldberg will present on May 25 at 10:40 am ET. The presentation will be webcasted and archived on the Telesat website.
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