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Telesat Corporation

Telesat Corporation

NASDAQ•TSAT
CEO: Mr. Daniel S. Goldberg J.D.
Sector: Technology
Industry: Communication Equipment
Listing Date: 2005-07-27
Telesat Corporation, a satellite operator, offers mission-critical communications services to broadcast, enterprise, and consulting customers worldwide. The company's satellite-based services allow direct-to-home (DTH) service providers to deliver television programming, audio, and information channels directly to customers' homes; and allows broadcasters, cable networks, and DTH service providers to transmit television programming services. It offers value-added services, such as satellite capacity, digital encoding of video channels, and uplinking and downlinking services; and occasional use services. The company also offers telecommunication carrier and integrator services that provides satellite capacity and end-to-end services, including space segment services and terrestrial facilities for enterprise connectivity, and internet and cellular backhaul; and rural telephony to telecommunications carriers and network services integrators. In addition, it offers satellite capacity to maritime and aeronautical markets comprising commercial airplanes and vessels; services to the U.S. government through government service integrators, and satellite services to the Canadian government; and direct-to-consumer broadband services. Further, the company operates satellite and terrestrial networks; and communications services for the oil and gas and mining industries. Additionally, it provides satellite operator services; and consulting services related to space and earth segments, government studies, satellite control services, and research and development. The company offers its services primarily through a direct sales force. Telesat Corporation was founded in 1969 and is headquartered in Ottawa, Canada.
Contact Information
160 Elgin Street, Suite 2100, Ottawa, ON, K2P 2P7, Canada
613-748-8700
www.telesat.com
Market Cap
$365.52M
P/E (TTM)
-5.0
45.9
Dividend Yield
--
52W High
$36.85
52W Low
$10.11
52W Range
55%
2.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$52.70M-47.59%
4-Quarter Trend

EPS

-$1.24-234.75%
4-Quarter Trend

FCF

-$100.81M+652.03%
4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Lightspeed Financing Secured Secured $2.54B CAD financing from Canadian governments for Lightspeed deployment; first launch planned for mid-2026.
Debt Repurchase Gain Recorded $202.5M CAD gain on repurchase of Telesat Canada Debt during 2024, improving debt structure.
Contracted Backlog Visibility Contracted revenue backlog stands at $1.1B CAD as of year-end 2024, excluding future Lightspeed commitments.
Adjusted EBITDA Performance Generated $383.7M CAD Adjusted EBITDA in 2024, reflecting 67.2% margin despite significant net loss.

Risk Factors

Net Loss and Revenue Decline Reported net loss of $(302.5M) CAD in 2024, with total revenue falling 18.9% to $571.0M CAD.
In-Orbit Satellite Anomalies Multiple in-orbit satellite anomalies experienced, risking lost revenues, increased costs, and potential contract termination.
Intensifying Satellite Competition Significant competition, especially from Starlink constellation, expected to cause revenue loss and profitability decline if competition is not met.
High Indebtedness Level Total long-term indebtedness remains high at $3.10B USD, reducing financial flexibility and increasing refinancing difficulty.

Outlook

Lightspeed Deployment Timeline Plan to launch first Telesat Lightspeed satellites in mid-2026, leveraging government funding for global service deployment.
Maximize Existing GEO Utilization Focus remains on increasing utilization of existing GEO capacity while maintaining disciplined replacement and expansion programs.
Capture Broadband Connectivity Demand Strategy centers on capturing growing demand for global broadband connectivity using the advanced Lightspeed network architecture.

Peer Comparison

Revenue (TTM)

ADTRAN Holdings, Inc.ADTN
$1.04B
+14.3%
Endava plcDAVA
$988.59M
+1.1%
Consensus Cloud Solutions, Inc.CCSI
$349.61M
-0.4%

Gross Margin (Latest Quarter)

Veritone, Inc.VERI
95.9%
+24.6 pp
Consensus Cloud Solutions, Inc.CCSI
79.9%
-0.5 pp
Domo, Inc.DOMO
74.8%
+0.5 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ADTN$598.47M-6.8-60.2%18.1%
DOMO$490.19M-6.543.1%70.1%
WEAV$477.52M-14.1-44.9%25.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-16.8%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Reports
All Years
  • Form 20-F - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 27, 2025|
    Revenue: $416.86M-18.9%
    |
    EPS: $-4.59-155.7%
    Miss
  • Form 20-F - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 28, 2024|
    Revenue: $521.88M-7.2%
    |
    EPS: $8.37+273.4%
    Beat
  • Form 20-F - FY 2022

    Period End: Dec 31, 2022|Filed: Mar 29, 2023|
    Revenue: $583.45M+0.1%
    |
    EPS: $-5.00-149.6%
    N/A
  • Form 20-F - FY 2021

    Period End: Dec 31, 2021|Filed: Mar 18, 2022|
    Revenue: $605.46M-7.6%
    |
    EPS: $10.48-36.4%
    N/A