Welcome to our dedicated page for TELESAT news (Ticker: TSAT), a resource for investors and traders seeking the latest updates and insights on TELESAT stock.
Telesat Corporation reports on satellite communications operations built around its GEO services business and the Telesat Lightspeed Low Earth Orbit program. Company updates commonly cover IFRS financial results, GEO revenue and cost trends, and development work on the Lightspeed constellation, including satellites, user terminals, network software, satellite operations software and ground station deployments.
News also covers customer and partnership activity for broadband, government, defence, maritime and aeronautical connectivity. Recurring themes include Telesat Lightspeed service contracts, military Ka-band capability, strategic cooperation agreements, debt refinancing discussions, and legal matters tied to legacy GEO debt and corporate financing structure.
Telesat (NASDAQ/TSX: TSAT) reported its financial results for Q4 and FY2024, showing significant challenges ahead. Revenue for 2024 declined 19% to C$571 million, while Adjusted EBITDA decreased 28% to C$384 million. The company posted a net loss of C$302 million for 2024.
Key developments include securing C$2.54 billion in loan financing from Canadian and Quebec governments for the Telesat Lightspeed LEO satellite program, and successful completion of its Preliminary Design Review. The company maintains a GEO backlog of C$1.1 billion with 72% fleet utilization.
For 2025, Telesat projects revenue between C$405-425 million and Adjusted EBITDA of C$170-190 million, representing a 53% decline at midpoint. This outlook reflects reduced revenues from North American DTH customers, maritime markets, and increased LEO operating expenses. CFO Andrew Browne announced plans to retire later in 2025.
Telesat (NASDAQ/TSX: TSAT) and ADN Telecom have entered into a multi-year partnership agreement to deliver Telesat Lightspeed low earth orbit (LEO) connectivity solutions across Bangladesh and South Asia. The partnership will enable ADN Telecom to leverage Telesat's Smart Virtual Network Operator capability to provide connectivity solutions for enterprise, maritime, and government customers.
The fully funded Telesat Lightspeed constellation will begin satellite launches in the second half of 2026, with ADN Telecom commencing full-time services in late 2027. The service will feature industry-leading committed information rates and guaranteed SLAs. ADN Telecom will participate in early field trial testing of the services.
The MEF 3.0 standards-based LEO services will integrate with ADN's terrestrial network to expand their service reach in Bangladesh and internationally. Both companies will collaborate to secure local regulatory approvals for Telesat Lightspeed services in Bangladesh.
Telesat (NASDAQ and TSX: TSAT), a leading satellite operator, has announced its upcoming fourth quarter and full year 2024 earnings conference call scheduled for March 27, 2025, at 10:30 a.m. EDT. The call will feature President and CEO Daniel S. Goldberg and CFO Andrew Browne discussing the company's financial results for the three and twelve-month periods ended December 31, 2024.
Financial results will be released on Telesat's website prior to the call. Investors can participate via toll-free number (+1 800 952 5114) or international dial-in (+1 416 406 0743) using access code 1687079#. A webcast option is available, and a replay will be accessible until April 10, 2025.
Orange and Telesat (TSAT) have announced a strategic commercial partnership to enhance satellite connectivity services. The agreement includes hosting a Telesat Lightspeed Landing Station at Orange's teleport in Bercenay-en-Othe, France, with ground connectivity to Paris. Orange has committed to integrating Telesat Lightspeed LEO service into its global portfolio for businesses and telecom operators.
The partnership leverages Orange's WTA Tier-4 certified Teleport infrastructure across 26 countries and Telesat's advanced satellite technology. Telesat Lightspeed will provide Carrier Ethernet services with real-time configuration capabilities, Zero-Trust Security Architecture, and service level agreements. This collaboration aims to strengthen global digital infrastructure and improve connectivity in remote areas across Europe, Africa, and other worldwide locations.
Telesat (NASDAQ and TSX: TSAT) and Space Norway have signed a Term Sheet for Telesat Lightspeed Low Earth Orbit (LEO) connectivity services. Space Norway will integrate a multi-Gbps Telesat Lightspeed capacity pool to provide secure, low-latency connectivity for defense, enterprise, maritime and land customers.
The agreement features Committed Information Rates (CIR) and Service Level Agreement (SLA), offering Space Norway flexibility to customize service offerings and modify online services through their infrastructure. The Telesat Lightspeed network, built with Zero-Trust Architecture and strict cybersecurity standards, will provide resilient communications throughout the Arctic region and EMEA.
The parties anticipate finalizing definitive agreements by the second half of 2025.
Telesat (NASDAQ: TSAT) has signed a development contract with QEST for a Telesat Lightspeed Aero Flat Panel Antenna (FPA) designed for commercial aviation. QEST will extend their patented FPA technology for Telesat Lightspeed, developing transmit and receive antenna apertures, RF components, and the antenna control unit.
The QEST-designed antenna is expected to deliver data rates exceeding 1 Gbps on the Telesat Lightspeed network, featuring high reliability with low power consumption and no active cooling requirements. The partnership aims to provide LEO-optimized solutions and multi-network/multi-orbit operations, offering increased flexibility for inflight connectivity service providers.
Telesat (NASDAQ/TSX: TSAT) and Intellian have announced a partnership for the development of Ka-band flat panel User Terminals for the Telesat Lightspeed Low Earth Orbit (LEO) constellation. The terminals will serve multiple markets including fixed enterprise applications, wireless backhaul, government, land mobility, and maritime connectivity.
The collaboration leverages Intellian's expertise in Active Electronically Scanning Arrays (AESA) technology. The terminals will feature small form factor flat panels with minimal weight and power consumption, manufactured at Intellian's state-of-the-art campus. This agreement expands upon previous collaborations between the companies, which included contracts for parabolic reference terminals and Gateway Antenna System programs.
Telesat (NASDAQ and TSX: TSAT) announced key executive leadership changes. Michel Forest will become the new Chief Technology Officer (CTO) following David Wendling's retirement at the end of February 2025. Forest, previously Telesat's Vice President of LEO System Engineering, will oversee satellite operations, engineering, and program management. He has led the Telesat Lightspeed constellation's architecture and performance.
Forest succeeds Wendling, who has been with Telesat for nearly 40 years, driving technical innovation and achieving industry firsts. Wendling has been instrumental in the design of Telesat Lightspeed.
Asit Tandon joins as Chief Network and Information Officer, bringing extensive experience from roles at Rogers Communications, Hutchison-3 Indonesia, Bharti Airtel, and Siemens. Tandon will manage the terrestrial elements of the Telesat Lightspeed network, including network operations and IT systems. Tandon's expertise is expected to support Telesat's growth and operational excellence in the global broadband connectivity market.
Telesat (NASDAQ and TSX: TSAT) has appointed Charles 'Chuck' Cynamon as the new President of Telesat Government Solutions, a subsidiary focused on providing satellite solutions to U.S. Government sectors. Cynamon brings over 24 years of U.S. Air Force experience and a decade in space and satellite enterprises, most recently serving as Senior Vice President at LinQuest
Prior to joining Telesat, Cynamon held leadership positions at MacDonald Dettwiler & Associates Information Systems and Hughes Network Systems. The appointment aims to accelerate the integration of Telesat Lightspeed capabilities with U.S. government customers. The Telesat Lightspeed constellation is designed as a self-healing, space relay network with high cybersecurity ratings under the U.S. Space Force IA-Pre Program, offering interoperable and optically-linked connectivity solutions worldwide.
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.