Earnings ·
Telesat reported a net loss of C$559 million for the quarter ended June 30, 2026, driven by non-cash warrant valuation…
TSATTelesat Corp
Telesat reported a net loss of C$559 million for the quarter ended June 30, 2026, driven by non-cash warrant valuation losses and foreign exchange impacts on USD-denominated debt. Consolidated revenue fell 25% to C$79 million, while adjusted EBITDA declined 62% to C$22 million. The company signed a C$2.7 billion contract with the Government of Canada for military Ka-band connectivity, expanding its Lightspeed constellation to 225 satellites. Telesat also borrowed US$120 million in new debt and expects US$189 million from FCC spectrum repurposing incentives. For the six-month period, revenue was C$167 million with a net loss of C$710 million. The company raised its Lightspeed spending forecast to C$1.3–1.5 billion for 2026. Telesat operates in the global satellite communications industry, providing broadband connectivity through its Low Earth Orbit and Geostationary Earth Orbit fleets.