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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.
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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.