Telesat Corporation ( (TSAT) ) has released its Q2 earnings. Here is a breakdown of the information Telesat Corporation presented to its investors.
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Telesat Corporation is a leading global satellite operator known for delivering critical connectivity solutions across various sectors, including enterprise, aviation, maritime, and government. Recently, Telesat reported its financial results for the quarter and six months ending June 30, 2025, highlighting significant progress in its Telesat Lightspeed project and steady performance in its GEO segment.
For the quarter, Telesat recorded a consolidated revenue of $106 million, marking a 30% decrease from the previous year, primarily due to reduced rates and services with North American and Indonesian customers. The company’s operating expenses decreased by 10% to $51 million, while the net income stood at $76 million, down from $129 million in the prior year. The six-month period also saw a revenue decline of 27% to $223 million, with a net income of $24 million compared to $77 million in 2024.
Despite the revenue drop, Telesat’s strategic initiatives are showing promise, particularly with the Telesat Lightspeed project, which boasts a backlog of over $1 billion. The company secured a multi-year agreement with Viasat Inc., integrating Telesat Lightspeed into Viasat’s services for various markets. Additionally, Telesat’s GEO backlog was approximately $900 million, with fleet utilization improving to 70%.
Looking ahead, Telesat maintains its 2025 financial outlook, expecting revenues between $405 million and $425 million and adjusted EBITDA between $170 million and $190 million. The company remains focused on expanding its Telesat Lightspeed project and exploring new opportunities across its target segments.