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Telesat

TSAT · Communication Services

Last earnings Oct 29, 2026

Key results

Revenuequarter

$81 million

” For the quarter ended September 30, 2026, Telesat reported consolidated revenue of $81 million, a decrease of 20% ($20 million) compared to the same period of the prior year, and adjusted EBITDA 1 of $12 million, a decrease of 74% ($35 million) from the third quarter of 2025.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

In our GEO segment, revenue for the quarter was $79 million, a decrease of 21% ($22 million) from the same period in 2025.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Capexquarter

$24 million

In our LEO segment, we invested $368 million in the Telesat Lightspeed program in the third quarter of 2026, comprising $24 million in operating expense and $344 million in capital expenditure.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

For the nine-month period ending September 30, 2026, Telesat reported consolidated revenue of $247 million, a decrease of 24% ($77 million) compared to the prior year, and adjusted EBITDA 1 of $69 million, a decrease of 60% ($104 million) from the first nine months of 2025.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

AI analysis

Q3 2026 · reported Oct 29, 2026

Based on: Earnings release (6-K exhibit) + parent 6-K — transcript not held

Revenue · Q3 2026
$81M
EX-99 · Oct 29, 2026
Capex · Q3 2026
$24M
EX-99 · Oct 29, 2026

The quarter in charts

Guidance ladder — revenue

Delivered vs the company's guided range

EX-99 · Oct 29, 2026 Guide as stated by the company; range and midpoint computed from the stated figure.

Headline figures

MetricQ3 2026Prior qtrYear ago
Revenue$81 million——
Capex$24 million——

EX-99 · Oct 29, 2026

Guidance · company-stated

revenue$300 million
Adjusted EBITDA

“1 to be between $210 million and $230 million”

Midpoint vs latest-quarter revenue+270.4%computed from stated figures

Guidance stated in the release for Q4 2028; figures as stated.

Next earningsNo verified date on fileNo date is estimated or imported

Cash flow & capex

Capex$24M

Capital allocation

Capex$24M

” “Finally, we remain focused on refinancing the Telesat GEO debt, as it begins to mature later this year.

What changed vs last quarter

  • Guide midpoint vs latest-quarter revenue +270.4% computed from stated figures
General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Telesat Q3 2026 — ” For the quarter ended September 30, 2026, Telesat reported consolidated revenue of $81 million, a decrease of 20% ($20 million) compared to the same period of the prior year, and adjusted EBIT…

Based on: Earnings release (6-K exhibit) + parent 6-K — transcript not held

Guidance & outlook

revenue: “revenue to be between $300 million and $320 million”

Adjusted EBITDA: “Adjusted EBITDA 1 to be between $210 million and $230 million”

revenue (“Q4 2028”)
“2 2026 Financial Outlook (assumes an average foreign exchange rate of US$1=C$1.38) Telesat is reiterating its 2026 GEO segment guidance provided in March: GEO revenue to be between $300 million and $320 million;”

Adjusted EBITDA (“Q4 2028”)
“GEO Adjusted EBITDA 1 to be between $210 million and $230 million, excluding non-recurring debt refinancing costs.”

Guidance stated in the release for Q4 2028; figures as stated.

Capital allocation

” “Finally, we remain focused on refinancing the Telesat GEO debt, as it begins to mature later this year.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Excluding the impact of higher expenses related to our debt refinancing process, adjusted EBITDA decreased 41%.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

GEO segment adjusted EBITDA for the quarter was $36 million, a 43% ($27 million) decline from the comparable period in 2025, reflecting lower revenue and higher expenses related to our debt refinancing process.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Adjusted EBITDA for the third quarter of 2026 included $25 million in expenses relating to our debt refinancing process.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

In our LEO segment, we invested $368 million in the Telesat Lightspeed program in the third quarter of 2026, comprising $24 million in operating expense and $344 million in capital expenditure.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Excluding the impact of higher expenses related to our debt refinancing process, adjusted EBITDA decreased 42%.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Strategy & priorities

“I’m pleased with the strong progress we made last quarter and throughout the year on our key strategic objectives,” commented Dan Goldberg, Telesat’s President and CEO.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

” “In our GEO business, we continue to be laser-focused on maximizing the revenue and cash flow from our existing GEO satellite fleet while at the same time taking a highly disciplined approach to cost management.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

” “Finally, we remain focused on refinancing the Telesat GEO debt, as it begins to mature later this year.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

The milestone payments will principally be used to fund the expansion of the Telesat Lightspeed constellation from a planned 156 to 225 satellites.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Risks & headwinds

’s debt, the outcome of litigation related to Telesat GEO Inc.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Backed by nearly 60 years of innovation and engineering excellence, Telesat is uniquely positioned to help customers solve their most complex communications challenges with scalable and future-ready solutions.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Actual results may differ materially from the expectations expressed or implied in the forward-looking statements and future-orientated financial information as a result of known and unknown risks and uncertainties.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

These forward-looking statements and future-orientated financial information are not guarantees of future performance, are based on Telesat’s current expectations, and are subject to a number of risks, uncertainties, assumptions, and other factors, some of which are beyond Telesat control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Known risks and uncertainties include but are not limited to: risks associated with financial factors, including swings in the global financial markets, access to capital to construct our LEO satellite constellation, the ability to refinance Telesat GEO Inc.

SEC original ↗Telesat — Earnings release (6-K exhibit)EX-99Oct 29, 2026

Documents

Earnings deck slides

1 deck with slide view

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

T-Mobile US (TMUS) Communication ServicesSea Limited (SE) Communication ServicesRoblox (RBLX) Communication ServicesBaidu (BIDU) Communication ServicesAT&T (T) Communication ServicesSpotify Technology (SPOT) Communication ServicesComcast (CMCSA) Communication ServicesNetEase (NTES) Communication Services

Filings

74 documents

Earnings releases

7 documents

Presentations

1 document

Transcripts

0 documents

No transcripts for Telesat are held in this edition of the library.

Mentioned by

1 company

Other tracked companies whose held documents mention Telesat by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.