OTTAWA, Ontario, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Telesat (Nasdaq and TSX: TSAT), one of the world’s largest and most innovative satellite operators, and Hanwha Systems Co, Ltd (Hanwha), a leading Korean corporation of the Hanwha Group, today announced the signing of a memorandum of understanding (MoU) to jointly collaborate on next-generation, sovereign satellite connectivity solutions, as well as user terminals that will be compatible with Telesat’s Low Earth Orbit (LEO) network, Telesat Lightspeed. The ...

ATLANTA, Jan. 26, 2026 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC is investigating whether Telesat Corporation (“Telesat” or the “Company”) (NASDAQ: TSAT) complied with federal securities laws. On January 21, 2026, creditors of Telesat filed a lawsuit against the Company alleging it is “indisputably insolvent” and that it breached a credit agreement by executing “fraudulent” asset transfers. Following this news, the price of the Company’s stock dropped. If you purchased Telesat stock and suffered a loss on th ...

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Telesat Corporation ("Telesat " or the Company") (NASDAQ: TSAT) investors concerning the Company's possible violations of the federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON TELESAT CORPORATION (TSAT), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. What Happened? On Janu. ...

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Telesat Corporation ("Telesat " or the "Company") (NASDAQ: TSAT) investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN TELESAT CORPORATION (TSAT), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. Contact the Law Offices of Howard G. Smith to discuss your legal rights by. ...

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Telesat Corporation ("Telesat " or the Company") (NASDAQ: TSAT) on behalf of investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON TELESAT CORPORATION (TSAT), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS. What Is The Investigation About? On January 21, 2026, bondholders filed a lawsuit against Telesat. ...

OTTAWA, Ontario, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Telesat (Nasdaq and TSX: TSAT), one of the world’s largest and most innovative satellite operators, confirms that certain creditors holding portions of the company’s legacy GEO (Geostationary Earth Orbit) debt have filed lawsuits in both New York and Ontario regarding the equity distribution in September 2025 of the Telesat Lightspeed business. The lawsuits, filed at the direction of a group of distressed debt hedge funds, are without merit. The equity dist ...

Industry Overview - The satellite Internet market is projected to grow from $14.56 billion in 2025 to $33.44 billion by 2030, with a CAGR of 18.1% driven by affordable user terminals and AI-enabled network management systems [2] - The Zacks Satellite and Communication industry has surged 209% in the past year, outperforming the Computer and Technology sector and the S&P 500 composite growth of 23.7% and 18.7% respectively [3] - End-user spending on LEO satellite communications services is expected to reach $14.8 billion worldwide in 2026, marking a 24.5% increase over 2025 [4] Company Insights EchoStar Corporation - EchoStar is a global satellite communications provider known for its Hughes Network Systems, delivering broadband connectivity across remote regions [5] - The company is benefiting from rising demand for satellite-based connectivity as LEO and hybrid architectures gain traction, with a focus on rural markets and government programs [6][8] - EchoStar's stock has surged 371.6% over the past year, with earnings surprises averaging 122.7% over the last four quarters [11] Telesat Corporation - Telesat operates a legacy GEO fleet and is advancing its Lightspeed LEO constellation, with a contracted backlog of about $1.1 billion [12][8] - The company is well-positioned for growth with initial launches targeted for late 2026 and full service by the end of 2027 [13] - Telesat's stock has gained 78.5% over the past year, with earnings surprises averaging 105.93% over the last four quarters [14] Iridium Communications - Iridium offers global voice and data communications services and is experiencing momentum in service revenue and engineering support sales [15][16] - Data services revenues grew 14% in Q3 2025, driven by strength in Iridium's Satellite Time and Location service, projected to generate over $100 million in annual service revenue by 2030 [19] - Iridium's stock has lost 35.5% over the past year, with earnings surprises averaging 34.52% over the last four quarters [20]

Core Points - Telesat has entered a strategic partnership with the Government of Canada and MDA Space to develop a multi-frequency military satellite communications capability for the Canadian Armed Forces [1][2][4] - The Enhanced Satellite Communications Project – Polar (ESCP-P) aims to enhance Arctic sovereignty and support NORAD and NATO commitments [2][9] - The project represents a multi-billion dollar investment that is expected to drive job creation and economic growth in Canada [5][6] Company Involvement - Telesat will leverage over 55 years of satellite engineering expertise to deliver a state-of-the-art MILSATCOM architecture [2][4] - The company has a long-standing track record of supporting mission-critical connectivity for the Canadian Armed Forces [4][7] - Telesat's involvement in the ESCP-P project is expected to strengthen Canada's domestic defence and space sectors [6][12] Government Engagement - The Defence Investment Agency (DIA) is leading the procurement process for the ESCP-P, utilizing a strategic partner model to accelerate program delivery [3][11] - The project is part of Canada's commitment to modernize military capabilities and ensure secure communications in remote regions [8][10] - The Industrial and Technological Benefits (ITB) Policy will be applied to the project, promoting innovation and collaboration across Canada's space sector [6][12]

Financial Data and Key Metrics Changes - In Q3 2025, Telesat reported consolidated revenues of $101 million, a decrease of $37 million compared to the same quarter in 2024 [7] - Adjusted EBITDA decreased by $49 million to $47 million, with an adjusted EBITDA margin of 46% [7][8] - Operating expenses increased by $12 million to $58 million, primarily due to higher headcount growth in Telesat Lightspeed and increased legal and professional fees [9] - The company recorded a net loss of $121 million in Q3 2025, compared to a net income of $68 million in Q3 2024 [10] Business Line Data and Key Metrics Changes - In the GEO segment, revenue decline was attributed to a lower rate on the renewal of a long-term agreement with DISH and the expiration of a separate agreement [3][4] - The LEO segment is progressing well with satellite development, ground infrastructure, and software, with strong interest in Telesat Lightspeed from AERO and government users [4] Market Data and Key Metrics Changes - Interest in Telesat Lightspeed is particularly strong among AERO and government users, with expectations of increased defense spending in Canada [21][22] - The company has a minimum revenue commitment of $60 million per year from the Canadian government for rural broadband connectivity, which is separate from defense commitments [24] Company Strategy and Development Direction - Telesat is focused on optimizing its capital structure and enhancing financing options, including the distribution of equity in Telesat Lightspeed to a subsidiary [5] - The company plans to launch its first satellites in late 2026, with expectations to enter global service by the end of 2027 [27][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities in defense due to increased government spending commitments [22] - The company reiterated its guidance for 2025, expecting revenues between $405 million and $425 million and adjusted EBITDA between $170 million and $190 million [12][13] Other Important Information - Telesat's total leverage ratio was calculated at 8.676 times, with compliance in all covenants of its credit agreements [13] - The company has approximately $480 million in cash and short-term investments, along with $2 billion available under funding agreements with the Government of Canada and Quebec [13] Q&A Session Summary Question: Status of debt negotiations - Management indicated it is too early to determine the outcome of debt negotiations with holders [17] Question: Guidance on EBITDA and GEO revenue - Management explained that underspending in LEO was offset by increased professional fees related to refinancing, clarifying the guidance situation [19][20] Question: Demand from the defense sector - Management confirmed strong interest from the defense sector, particularly in relation to rural broadband and defense spending commitments [21][22] Question: Rationale behind LEO equity carve-out - The rationale was to optimize capital structure and enhance funding flexibility, with no current plans to raise more equity [29][30] Question: Spectrum transactions in the industry - Management noted that while they have the capability to launch a direct-to-device network, their focus remains on deploying Lightspeed [32] Question: Launch timeline and testing - Management confirmed a gap of two to four months between the first launch of Pathfinder satellites and subsequent launches [36] Question: Partnership with Farcast - Management highlighted the collaboration with Farcast to develop innovative user terminals for Lightspeed [40] Question: Interest in space-based data centers for AI - Management expressed that while they see AI's potential in network efficiency, they are not planning to leverage Lightspeed for space-based data centers [44] Question: Gateway ground network progress - Management reported good progress in building out the gateway ground network, with several teleports already announced [52]

Group 1 - Telesat reported a quarterly loss of $1.73 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.78, and compared to a loss of $0.08 per share a year ago, indicating an earnings surprise of -121.79% [1] - The company posted revenues of $73.39 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.94%, but down from $101.49 million in the same quarter last year [2] - Telesat shares have increased approximately 80.8% since the beginning of the year, outperforming the S&P 500's gain of 16.5% [3] Group 2 - The earnings outlook for Telesat is mixed, with the current consensus EPS estimate for the coming quarter at -$1.03 on revenues of $68.37 million, and -$2.10 on revenues of $300.58 million for the current fiscal year [7] - The Zacks Industry Rank places the Satellite and Communication sector in the top 30% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] Group 3 - Telesat has surpassed consensus EPS estimates two times over the last four quarters and topped consensus revenue estimates three times during the same period [2] - The estimate revisions trend for Telesat was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]