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 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.
Telesat (NASDAQ and TSX: TSAT) has announced a conference call scheduled for November 8, 2022, at 10:30 a.m. ET to discuss its financial results for the three-month and nine-month periods ending September 30, 2022. The call will be hosted by President and CEO Daniel S. Goldberg and CFO Andrew Browne. Prior to the call, financial results will be posted on Telesat's investor relations webpage. Interested participants can dial in or access the webcast. Telesat continues to innovate in satellite connectivity with its upcoming Low Earth Orbit (LEO) network, Telesat Lightspeed.
Telesat (NASDAQ and TSX: TSAT) announced its financial results for Q2 and H1 2022, reporting a slight revenue decline of 1% to $187 million and a 2% decrease for the six-month period to $372 million. The net loss for Q2 was $4 million, contrasting a net income of $53 million in 2021, primarily due to a non-cash foreign exchange loss. Adjusted EBITDA margin held steady at 78.4%. Telesat forecasts full-year revenue of $740-750 million and Adjusted EBITDA of $545-560 million, indicating a positive outlook. The company also reported a significant backlog of $1.9 billion for future services.
Telesat (NASDAQ and TSX: TSAT) has announced a conference call for August 5, 2022, at 10:30 a.m. ET to discuss its financial results for Q2 2022. The call will be led by CEO Daniel S. Goldberg and CFO Andrew Browne. Financial results will be released on the company's website prior to the call. Participants can join via phone or stream the webcast. A replay will be available until August 19, 2022. Telesat is recognized as a leading global satellite operator, offering innovative connectivity solutions through its upcoming Telesat Lightspeed Low Earth Orbit satellite network.