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 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.
Telesat (NASDAQ and TSX: TSAT) held its annual shareholder meeting virtually on June 1, 2022, where all proposed items were approved. Key outcomes included the election of directors with significant votes. Melanie Bernier received 52,631,218 votes for her election. The company’s continued focus on innovation, especially through its Telesat Lightspeed LEO network, aims to provide high-capacity links with fiber-like speeds to enhance global connectivity. Final results will be available on SEDAR and EDGAR.
Telesat (NASDAQ and TSX: TSAT) and Telefónica have successfully completed the first 5G Low Earth Orbit (LEO) satellite backhaul demonstration in Brazil and Latin America. The campaign utilized an 85cm Intellian terminal, achieving performance metrics comparable to fiber connectivity. Testing included latency, jitter, and bitrate measurements, all meeting integration requirements for 5G networks. Telesat's Lightspeed network aims to deliver high-capacity, affordable satellite connectivity, offering significant potential for global 5G rollout.
Telesat (NASDAQ and TSX: TSAT), a leading satellite operator, will participate in two investor conferences. One-on-one meetings are scheduled for May 11-13, 2022, at the Seventh Annual Goldman Sachs Leveraged Finance and Credit Conference in California. Additionally, Telesat will engage in the J.P. Morgan Global Technology, Media and Communications Conference from May 23-25, 2022, where President and CEO Dan Goldberg will present on May 25 at 10:40 am ET. The presentation will be webcasted and archived on the Telesat website.
Telesat (TSAT) reported its Q1 2022 financial results, highlighting consolidated revenue of $186 million, a 3% decline from Q1 2021, primarily due to reduced services for a North American customer. Operating expenses rose to $64 million, driven by increased share-based compensation. However, net income increased to $61 million, aided by gains on financial instruments. Telesat ended Q1 with over $1.5 billion in cash and a backlog of $2.0 billion, maintaining a strong Adjusted EBITDA margin of 78.4%. The company remains optimistic about its Telesat Lightspeed constellation and future growth.