TSAT

Financial Performance Overview: Telesat reported a consolidated revenue of $101 million for Q3 2025, a 27% decrease from the previous year, with a net loss of $121 million compared to a net income of $68 million in Q3 2024. For the nine-month period, revenue also decreased by 27% to $324 million, resulting in a net loss of $97 million.

Operational Developments: The Telesat Lightspeed team is progressing towards an initial satellite launch planned for late 2026, with a backlog of $1.1 billion. The company is focusing on optimizing its GEO satellite fleet while addressing its debt situation.

Management Changes: Donald Tremblay has been appointed as the new Chief Financial Officer, succeeding Andrew Browne, who announced his retirement earlier in the year.

Future Outlook: Telesat anticipates full-year 2025 revenues between $405 million and $425 million, with an Adjusted EBITDA forecast of $170 million to $190 million, while capital expenditures related to Telesat Lightspeed are expected to be between $900 million and $1.1 billion.

U.S. Stock Market Performance: U.S. stocks rose on Monday, with the Nasdaq Composite gaining over 100 points, driven by significant increases in various tech and industrial stocks.

Elon Musk's Tesla Share Purchase: Tesla shares surged 6.6% after CEO Elon Musk acquired 2.57 million shares, increasing his indirect ownership to approximately 413 million shares, as reported in a recent SEC filing.

Telesat's Equity Distribution: Telesat has completed the distribution of 62% of the equity of its Telesat Lightspeed business to an indirect subsidiary, which is wholly-owned by Telesat Canada's parent entities, with no operational changes resulting from this transaction.

Telesat's Innovation and Services: Telesat is recognized as a leading global satellite operator, focusing on delivering advanced connectivity solutions through its Telesat Lightspeed Low Earth Orbit satellite network, aimed at meeting the needs of various sectors including telecom, government, and maritime.