Canada's MDA Space Q4 revenue rises on Satellite Systems business

MDA Space

04/03/2026 10:56

Overview

Canada space tech firm's Q4 revenue rose 44% yr/yr, driven by Satellite Systems

Adjusted EBITDA for Q4 beat analyst expectations

Company's C$4 bln backlog at qtr-end, provides revenue visibility into 2026 and beyond

Outlook

MDA expects 2026 revenue between C$1.7 bln and C$1.9 bln

Company projects 2026 adjusted EBITDA of C$320 mln to C$370 mln

MDA anticipates 2026 capital expenditures of C$225 mln to C$275 mln

Result Drivers

SATELLITE SYSTEMS - Revenue growth in Q4 2025 was largely driven by the Satellite Systems business, including work on the Telesat Lightspeed and Globalstar LEO constellation programs

DEFENSE CONTRACTS - Strategic partnerships and contracts, such as the military satellite communications for Canadian forces, are driving new opportunities

TECHNOLOGY INVESTMENTS - Investments in MDA AURORA™, MDA SKYMAKER™, and MDA CHORUS™ are building next-gen space capabilities

Company press release: ID:nCNWmlrWLa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
C$0.18
Q4 Adjusted EBITDA
Beat
C$96.2 mln
C$86.28 mln (6 Analysts)
Q4 Gross Margin
25.50%
Q4 Adjusted EBITDA Margin
19.30%
Q4 Gross Profit
C$127.10 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy"

Wall Street's median 12-month price target for MDA Space Ltd is C$47.00, about 16% above its March 3 closing price of C$40.53

The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 16 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)