Accessibility StatementSkip Navigation BRAMPTON, ON, Dec. 4, 2025 /PRNewswire/ - MDA Space Ltd. ("MDA Space" or the "Company") (TSX:MDA), announced today that it has priced a private placement offering (the "Offering") and entered into an underwriting agreement to sell, pursuant to the Offering, C$250Â million aggregate principal amount of 7.00% senior unsecured notes due 2030 (the "Notes"). The Offering is expected to close on or about December 23, 2025, subject to customary closing conditions. The Notes w ...

Core Insights - MDA Space Ltd. reported strong financial results for Q3 2025, showcasing double-digit revenue growth and robust profitability as the company continues to execute its backlog [1][10][11] Financial Performance - Q3 2025 revenues reached $409.8 million, a 45.1% increase year-over-year, driven by higher volumes in Satellite Systems and Robotics & Space Operations [10][14] - Adjusted EBITDA for Q3 2025 was $82.8 million, up 49.2% from Q3 2024, with an adjusted EBITDA margin of 20.2% [10][20] - Adjusted net income for Q3 2025 was $46.1 million, reflecting a 32.9% increase year-over-year, with adjusted diluted earnings per share of $0.35, up 25% [10][22] Backlog and Revenue Visibility - The backlog at the end of Q3 2025 stood at $4.4 billion, providing revenue visibility for 2025 and beyond, although it decreased from $4.6 billion in Q3 2024 due to ongoing revenue conversion [10][11][24] Business Segments - Revenue breakdown for Q3 2025 included: - Geointelligence: $48.0 million, down 0.6% year-over-year - Robotics & Space Operations: $78.3 million, up 17.7% - Satellite Systems: $283.5 million, up 69.2% [15][16] Strategic Initiatives - MDA Space is focused on targeted growth strategies, including investments in next-generation space technology, expanding in high-growth markets, and leveraging strategic M&A to complement organic growth [5][6] Financial Outlook - The company reaffirmed its full-year 2025 revenue guidance of $1.57 to $1.63 billion, representing approximately 48% year-over-year growth at the midpoint [7][10] - Expected adjusted EBITDA for 2025 is projected to be between $305 million and $320 million, with a margin of approximately 19% to 20% [7][10]

Summary of MDA Space Conference Call Company Overview - **Company**: MDA Space - **Date of Call**: September 8, 2025 - **Key Participants**: Mike Greenley (CEO), Guillaume Lavoie (CFO), Luigi Posabani (VP of Satellite Systems) Key Industry and Company Insights Contract Termination - MDA Space received a termination-for-convenience notification from EchoStar Corporation regarding a satellite constellation contract valued at approximately CA$1.8 billion for over 100 software-defined MDA AURORA satellites [4][5] - The termination was due to EchoStar's sudden change in business strategy following spectrum allocation discussions with the FCC, leading to the sale of its AWS-4 and H Block spectrum to SpaceX [4][5] Financial Impact - MDA Space will be compensated for all related termination costs and fees as per the contract, ensuring no financial loss from this event [5][9] - The company maintains a backlog of CA$4.6 billion at the end of Q2 2025, excluding the EchoStar contract, providing revenue visibility for 2025 and beyond [5][36] Business Fundamentals - MDA Space has a robust opportunity pipeline of CA$20 billion, with CA$13 billion related to satellite constellations [6] - The company continues to focus on execution, converting opportunities, and expanding leadership in core markets while maintaining strong profitability and free cash flow [6] Guidance and Future Outlook - MDA Space reiterated its 2025 financial outlook and guidance, unaffected by the EchoStar contract termination [5][36] - The company expects to maintain a compound annual growth rate (CAGR) of 20% to 30% over the next five years, driven by its strong backlog [36] Additional Insights Risk Profile Comparison - The existing backlog has a lower risk profile compared to the EchoStar contract, which was an unexpected termination due to a drastic change in EchoStar's business plan [12][11] - Current contracts with customers like Telesat and Globalstar are deep into execution, reducing risk [12][13] Technological Advancements - MDA Space has developed a 5G-compliant version of the AURORA digital satellite, which was accelerated by the EchoStar contract, positioning the company favorably in the market [44][45] Market Dynamics - The direct-to-device market remains competitive, with multiple players expected to emerge, similar to terrestrial mobile networks [29][48] - The termination of the EchoStar contract may influence other companies to expedite their own direct-to-device plans [48] Geopolitical Considerations - There is a growing trend among countries to enhance their technological independence, which may be fueled by recent developments in the space communications sector [55][56] Upcoming Events - MDA Space plans to engage with new customers at the World Satellite Business Week, focusing on their products and services despite the loss of collaboration with EchoStar [61][62] Conclusion - MDA Space remains optimistic about its future prospects, maintaining strong fundamentals and a solid pipeline of opportunities despite the unexpected termination of the EchoStar contract. The company is well-positioned to continue its growth trajectory in the satellite communications industry.

Core Viewpoint - MDA Space is set to release its second quarter 2025 financial results on August 7, 2025, and will host a conference call to discuss these results [1] Group 1: Financial Results Announcement - MDA Space will announce its Q2 2025 financial results before market open on August 7, 2025 [1] - A conference call and webcast will be held at 8:30am ET on the same day to discuss the results [1] Group 2: Conference Call Access Details - Access details for the conference call include local and toll-free numbers for North America and the UK, along with a conference ID [3] - A replay of the webcast will be available for 12 months on the MDA Space Investor Relations website, and an audio recording will be accessible for one week after the event [2][4] Group 3: Company Overview - MDA Space is a leader in the global space industry, specializing in robotics, satellite systems, and geointelligence with over 55 years of experience [5] - The company has been involved in more than 450 missions and is recognized for its contributions to communications satellites, Earth and space observation, and space exploration [5] - MDA Space employs over 3,400 experts across Canada, the US, and the UK, combining experience and engineering excellence to achieve ambitious customer missions [5]