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.
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Telesat (NASDAQ and TSX: TSAT) reported its financial results for the year ended December 31, 2022, with total revenue at $759 million, stable year-over-year. Adjusted EBITDA was $568 million, a 5% decline, yielding a margin of 74.8%. The company recorded a net loss of $80 million, significantly down from a net income of $155 million in 2021, primarily due to unfavorable foreign exchange effects and C-band spectrum costs. Despite the challenges, Telesat closed 2022 with $1.7 billion in cash and a substantial backlog of $1.8 billion.
Looking ahead, Telesat anticipates 2023 revenue between $690 million and $710 million.
Telesat (NASDAQ and TSX: TSAT) has announced a conference call scheduled for March 29, 2023, at 10:30 a.m. ET to discuss its financial results for the fiscal year ending December 31, 2022. The call will be led by President and CEO Daniel S. Goldberg and CFO Andrew Browne. Prior to the call, Telesat will release its financial results on its website under the 'Investors' section. Interested parties can join the call via a toll-free number or through a live webcast. A replay will be available shortly after the call until April 12, 2023. Telesat continues to innovate in satellite connectivity solutions, particularly with its Telesat Lightspeed LEO satellite network.
Telesat (NASDAQ and TSX: TSAT) has partnered with Anuvu to enhance satellite operations through the leasing of new antennas and ground-station infrastructure, set to enter service in late 2023. This collaboration will support the Anuvu Constellation, facilitating connectivity across the continental U.S., Caribbean, and Mexico.
The infrastructure allows for efficient Tracking, Telemetry, and Control (TT&C) of Anuvu’s upcoming MicroGEO satellites. With advanced antenna capabilities, the project aims to reduce latency and improve network resiliency, benefiting mobility customers. The partnership strengthens their existing relationship, positioning both companies for future growth.
Telesat (NASDAQ and TSX: TSAT) announced the launch of its national Fellowship for Indigenous Youth program on January 25, 2023. This initiative aims to provide scholarships and paid internships for Indigenous students pursuing studies in STEM fields. Each selected student will receive a $5,000 scholarship, a $15,000 stipend, and an 8-month internship at Telesat's teleport facilities in various provinces. The program addresses the low representation of Indigenous Canadians in STEM, currently under 2%. Scholarship applications are open until March 30, 2023. This effort supports Telesat's commitment to enhancing diversity and fostering innovation in the space sector.
Telesat (NASDAQ and TSX: TSAT) has appointed Philip Harlow as President of Telesat Government Solutions, focusing on secure satellite solutions for the U.S. Government and allied nations. Harlow brings over 25 years of experience in delivering SATCOM solutions. He succeeds Tom Eaton, who is retiring after significant contributions, including contract awards for NASA and DARPA projects. Telesat's upcoming Lightspeed network is expected to revolutionize LEO connectivity, enhancing capabilities for government and defense missions.
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.