Telesat Corporation reported strong progress in its LEO initiatives despite challenges in its GEO business, positioning itself favorably for growth in defense and commercial sectors.
- Adjusted EBITDA exceeded guidance, demonstrating effective cost optimization in a fixed-cost environment.
- Lightspeed satellite network launches are anticipated to begin at the end of 2026, with commercial service expected by Q1 2028 due to slight delays in chip availability.
- Notable contracts in the defense sector, including an IDIQ contract under the U.S. SHIELD program and a significant partnership with Hanwha Systems in Korea, highlight increasing demand for LEO services.
- Telesat is adding military Ka spectrum capabilities to 25% of its Lightspeed satellites, enhancing its defense offerings and aligning with global defense procurement trends.
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