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 (TSAT) is described in its public communications as one of the largest global satellite operators, with shares listed on Nasdaq and the Toronto Stock Exchange. The TSAT news page on Stock Titan aggregates company-specific announcements and third-party coverage so readers can follow developments in Telesat’s satellite telecommunications business.
Recent Telesat news releases highlight several themes. The company regularly reports quarterly and year-to-date financial results, including revenue trends, operating expenses, adjusted EBITDA, net income or loss, contracted GEO and LEO backlog, and fleet utilization. These earnings updates provide insight into the performance of its geostationary satellite fleet and the progress of the Telesat Lightspeed Low Earth Orbit program.
Telesat also issues news on strategic partnerships and projects. Examples include a strategic partnership with the Government of Canada and MDA Space to develop an Arctic military satellite communications capability for the Canadian Armed Forces, the acquisition of land in Timmins, Ontario, for a Lightspeed Landing Station, and expanded relationships with partners such as Calian Group Ltd. and Farcast to support the Lightspeed Operational Data Platform and User Terminals. These announcements show how Telesat applies its satellite capabilities to defence, government, enterprise, aviation, maritime and rural broadband use cases.
In addition, corporate and governance updates appear in the news flow, such as the appointment of a new Chief Financial Officer and notices of upcoming earnings conference calls. Investors and observers who follow TSAT news can use this page to review historical announcements, monitor the evolution of the Telesat Lightspeed program, and track how Telesat positions itself within the satellite telecommunications sector.
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.
Telesat reported Q3 2024 financial results with consolidated revenue of $138 million, a 20.9% decrease from 2023. The company achieved an 80% Adjusted EBITDA margin in its GEO segment with a $1.0 billion contractual backlog. Net income was $68 million compared to a $4 million loss in Q3 2023. The company secured funding agreements with Canadian and Quebec governments totaling $2.54 billion for its Telesat Lightspeed LEO constellation project. For 2024, Telesat expects revenues between $545-565 million and Adjusted EBITDA between $340-360 million.
Telesat (NASDAQ and TSX: TSAT) has scheduled a conference call for Thursday, November 14, 2024, at 10:30 a.m. EST to discuss its financial results for Q3 2024 and the nine-month period ended September 30, 2024. The call will be hosted by CEO Daniel S. Goldberg and CFO Andrew Browne. Financial results will be posted on Telesat's website prior to the call. The event will be accessible via toll-free dial-in numbers and webcast, with a replay available until November 30, 2024.
Telesat has signed a US$39 million contract with SatixFy for the development and delivery of Landing Station Baseband Units for the Telesat Lightspeed Network. Under the agreement, SatixFy will design and supply Landing Station Baseband systems over a 28-month period, enabling high-speed communication between Telesat Lightspeed LEO satellites and Landing Stations. The contract includes US$5 million already paid to SatixFy in a previous period. The Telesat Lightspeed constellation aims to provide global, high-speed, low-latency broadband connectivity for enterprise and government organizations.
Telesat has signed a US$39 million contract with SatixFy for the development and delivery of Landing Station Baseband Units for the Telesat Lightspeed Network. The agreement includes equipment and non-recurring engineering charges, with US$5 million already paid. SatixFy will deliver the systems over a 28-month period, enabling high-speed communication between Telesat Lightspeed Low Earth Orbit satellites and Landing Stations. The Lightspeed constellation aims to provide global, high-speed, low-latency broadband connectivity for enterprise and government organizations.
Telesat (NASDAQ/TSX: TSAT) has signed a Memorandum of Understanding with Airbus SAS to integrate the Telesat Lightspeed low earth orbit network within Airbus's HBCplus Ka-band solution portfolio. The collaboration aims to address user terminal integration for HBCplus installations capable of providing Telesat Lightspeed services. The partnership will enable Telesat's channel partners to integrate Lightspeed services into their portfolios as HBCplus Managed Service Providers, while complementing Airbus's current MEO & GEO offerings with low latency connectivity solutions.
Telesat (NASDAQ and TSX: TSAT) has awarded Intellian a contract to design, supply, install, and integrate 127 Gateway Antenna Systems for the Telesat Lightspeed LEO constellation. Intellian's 4-meter Gateway Antenna System features enhanced tracking precision, high gain performance, and weather durability without requiring radomes, reducing maintenance and energy costs. The Landing Stations, equipped with multiple Intellian Gateway Antennas and control systems, will route customer data to Points-of-Presence for telecom networks, internet, and cloud services, while enabling private customer network interconnections. The global terrestrial infrastructure is scheduled for service deployment in 2027.