MDA Space wins $688M Canadian SAR contract

Rhea-AI Filing Summary

MDA Space Ltd. filed a Form 6-K highlighting a major new contract with the Canadian Space Agency for a RADARSAT Constellation Mission replenishment satellite valued at $688M. MDA Space will design, build, test, launch and commission the next-generation synthetic aperture radar satellite and upgrade related ground, security and data systems.

The deal follows an initial $44 contract for long-lead parts awarded in December of the prior year and forms part of Canada’s $1,012 billion RADARSAT+ portfolio. The satellite will be assembled, integrated and tested in Montréal, and the contract will be added to MDA Space’s backlog in Q2 fiscal 2026. The company also includes customary forward-looking information and risk disclosures tied to delivery timing, satellite performance and program execution.

Insights

Aerospace equity analyst

$688M CSA contract expands MDA Space’s funded backlog and long-term visibility but carries execution and program risks.

MDA Space has secured a $688M contract from the Canadian Space Agency for a RADARSAT Constellation Mission replenishment satellite. The scope covers the satellite, launch, and enhancements to ground control, security and data management, indicating a full mission lifecycle mandate.

This new order, following a prior $44 contract for long-lead items, will be added to backlog in Q2 fiscal 2026, supporting multi‑year revenue visibility once milestones are reached. The work leverages the company’s next‑generation Earth observation platform and Montréal integration facilities, reinforcing its role in Canada’s space infrastructure.

The contract sits within the Government of Canada’s $1,012 billion RADARSAT+ portfolio, underscoring strategic importance but also linking outcomes to government program decisions. Management highlights typical forward‑looking risks, including delivery timing, satellite performance and other factors detailed in risk disclosures dated March 4, 2026.

Key Figures

RCM replenishment satellite contract: $688M Initial long-lead parts contract: $44 RADARSAT+ portfolio size: $1,012 billion +1 more

4 metrics

RCM replenishment satellite contract $688M Contract value for CSA RADARSAT Constellation Mission replenishment satellite

Initial long-lead parts contract $44 Earlier contract awarded in December for long-lead items

RADARSAT+ portfolio size $1,012 billion Government of Canada RADARSAT+ portfolio of activities

Backlog recognition timing Q2 fiscal 2026 Timing when $688M contract will be added to MDA Space backlog

Key Terms

synthetic aperture radar, RADARSAT Constellation Mission, Earth observation, backlog, +1 more

5 terms

synthetic aperture radar technical

"to supply an advanced, synthetic aperture radar (SAR) satellite that will operate"

Synthetic aperture radar is a remote-sensing system that uses radio waves sent from a moving platform (like a satellite or aircraft) to build detailed images of the ground, day or night and through clouds—think of sweeping a flashlight across a scene to assemble a clear picture. For investors, it provides independent, timely evidence of real-world activity (ship movements, construction, crop conditions, infrastructure changes), helping verify company statements, track risks and spot opportunities without relying on visible light.

RADARSAT Constellation Mission technical

"satellite that will operate with the RADARSAT Constellation Mission (RCM) satellites"

Earth observation technical

"next-generation sovereign satellite to be added to the existing Earth observation constellation"

Earth observation is the gathering of information about the planet’s land, oceans, atmosphere and human activity using satellites, aircraft and ground sensors. Investors care because those data turn into services—like crop yields, shipping routes, disaster alerts and resource maps—that can create revenue, cut risk and reveal trends earlier than traditional reports; think of it as a continuous, high-level camera and sensor system that helps businesses and markets make faster, clearer decisions.

backlog financial

"The contract will be added to MDA Space’s backlog in the second quarter"

A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.

forward-looking information regulatory

"This press release may contain forward-looking information within the meaning of applicable securities legislation"

Forward-looking information are predictions, plans, estimates or expectations about a company’s future performance, results or events, such as sales forecasts, project timelines, or anticipated costs. It matters to investors because these statements guide expectations but rely on assumptions and uncertain factors—like a weather forecast for a business—so investors should treat them as informed guesses rather than guarantees and consider the risks and possible changes behind the numbers.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did MDA (MDA Space Ltd.) announce in its June 2026 Form 6-K?

MDA Space announced a new $688M contract from the Canadian Space Agency for a RADARSAT Constellation Mission replenishment satellite. The scope includes design, build, test, launch, commissioning and upgrades to ground control, security and data management systems for Canadian Earth observation.

How large is the new Canadian Space Agency contract with MDA (MDA Space Ltd.)?

The new Canadian Space Agency contract with MDA Space is valued at $688M. It covers a next-generation synthetic aperture radar satellite plus launch and ground-system enhancements, adding a substantial multi‑year program to MDA Space’s government portfolio and contracted work pipeline.

When will the $688M RADARSAT replenishment contract be reflected in MDA (MDA Space Ltd.)’s backlog?

MDA Space states that the $688M replenishment satellite contract will be added to its backlog in the second quarter of fiscal 2026. This means the company will formally recognize the order as part of its contracted future work during that reporting period.

What prior work did MDA (MDA Space Ltd.) perform related to this RADARSAT replenishment satellite?

Before the $688M award, MDA Space received a $44 contract in December of the prior year for long-lead parts. The new order is described as a follow‑on to the RADARSAT Constellation Mission built and launched by MDA Space in 2019, extending that program.

Where will MDA (MDA Space Ltd.) build the new RADARSAT replenishment satellite?

MDA Space will assemble, integrate and test the RADARSAT replenishment satellite at its facility in Montréal. The satellite uses MDA Space’s fourth-generation Earth observation technologies and is intended to provide day-night, all-weather, wide-area surveillance data for Canadian government needs.

How does the RADARSAT replenishment satellite relate to Canada’s RADARSAT+ portfolio mentioned by MDA (MDA Space Ltd.)?

MDA Space notes that the replenishment satellite is part of the Government of Canada’s $1,012 billion RADARSAT+ portfolio of activities. This portfolio is intended to ensure continuity of the RADARSAT Constellation Mission and strengthen Canada’s sovereign Earth observation capabilities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

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Accepted by SEC EDGAR 06/24/2026 - 08:19 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of	June		2026
Commission File Number	001-43190

MDA SPACE LTD.

(Translation of registrant’s name into English)

7500 Financial Drive

Brampton, Ontario, Canada L6Y 6K7

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F ¨ Form 40-F x

DOCUMENTS INCLUDED AS PART OF THIS REPORT

Exhibit
99.1	Press Release dated June 24, 2026

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			MDA Space Ltd.
			(Registrant)
Date:	June 24, 2026		By:	/s/ Guillaume Lavoie
				Name:	Guillaume Lavoie
				Title:	Chief Financial Officer

Exhibit 99.1

NEWS RELEASE

CANADIAN SPACE AGENCY AND MDA SPACE CONCLUDE CONTRACT FOR REPLENISHMENT SATELLITE

VALUED AT $688M

MDA Space will design, build, test, launch and commission the next-generation sovereign satellite to be added to the existing Earth observation constellation.

Toronto, ON (June 24, 2026) — MDA Space Ltd. (TSX:MDA) (NYSE:MDA), a trusted mission partner to the rapidly expanding global space industry, has been awarded a contract by the Canadian Space Agency (CSA) to supply an advanced, synthetic aperture radar (SAR) satellite that will operate with the RADARSAT Constellation Mission (RCM) satellites. In addition to the space segment, the contract provides for launch and the enhancement of the satellite ground control, security and data management systems. This follows an initial $44.7M contract to procure and deliver long lead parts awarded in December of last year.

A follow-on order to RCM which was built and launched by MDA Space in 2019, the new SAR satellite will be based on MDA CHORUS^TM, the company’s new fourth generation of Earth observation technologies and capabilities. Now in its final integration phase before it is expected to launch late this year, MDA CHORUS^TM will include day-night, all-weather broad surveillance area data across the globe that supports a wide range of critical services for Canadians. The RCM replenishment satellite is part of the Government of Canada’s $1,012 billion RADARSAT+ portfolio of activities, announced by the Government of Canada in October 2023, which will ensure the continuity of the RCM mission and bolster sovereign Earth observation capabilities.

“Every day, Canada and Canadians rely on critical Earth observation technology and data to improve maritime safety, surveil the Arctic, respond to natural disasters and monitor the environment,” said Mike Greenley, CEO of MDA Space. “By leveraging our significant commercial investments in MDA CHORUS^TM, Canadians will benefit from world leading technologies developed right here in Canada to meet those vital needs.”

The satellite will be assembled, integrated and tested at the MDA Space facility in Montréal. The contract will be added to MDA Space’s backlog in the second quarter of fiscal 2026.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the company’s current expectations regarding future events. Such forward-looking information includes, but is not limited to, the ultimate supply and delivery timeline of the SAR satellite to the CSA and the capabilities of such satellite, the CSA’s operation of such satellite as part of the RCM satellites and its ability to bolster sovereign capabilities, the launch of the satellite and the enhancement of the satellite ground control, security and data management systems, and the functionality of MDA CHORUS^TM. Forward-looking statements are based on certain assumptions and analyses made by MDA Space in light of management’s experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties and other factors which may cause the actual results, performance or achievements of MDA Space to differ materially from those anticipated in such forward-looking statements for a variety of reasons, including without limitation the risks and uncertainties detailed under the “Risk Factors” section of MDA Space’s annual information form dated March 4, 2026.

Although MDA Space believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect and there can be no assurance that actual results will be consistent with the forward-looking statements. There are a number of additional risks and uncertainties affecting or that could affect MDA Space, which could cause actual results and developments to differ materially from those described in, expressed or implied by these forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information included within this press release. These forward-looking statements speak only as of the date of this news release. Except as required by law, MDA Space is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

ABOUT MDA SPACE

Building the space between proven and possible, MDA Space (TSX:MDA) (NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission — bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we’ll take you there. For more information, visit mda.space.

MEDIA CONTACTS

Amy MacLeod

Vice President, Corporate Communications

613-796-6937

amy.macleod@mda.space

INVESTOR CONTACTS

Jim Floros

Vice President, Investor Relations

289-914-0209

jim.floros@mda.space

SOCIAL MEDIA

LinkedIn: LinkedIn.com/company/MDAspace
X: X.com/MDA_space
Facebook: Facebook.com/MDAspace
YouTube: YouTube.com/c/MDAspace
Instagram: instagram.com/MDA_space

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 12.2 KB