Telesat Corporation ( (TSAT) ) has released its Q3 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 its innovative solutions in the telecommunications sector, providing critical connectivity services worldwide. The company recently released its financial results for the quarter and nine months ending September 30, 2025, highlighting significant developments and financial metrics.
Telesat reported a consolidated revenue of $101 million for the quarter, marking a 27% decrease compared to the same period in 2024, primarily due to changes in agreements with North American customers and reduced services in certain markets. Operating expenses increased by 26% to $58 million, driven by higher legal fees and LEO headcount growth. The company also faced a net loss of $121 million, a stark contrast to the $68 million net income reported in the previous year.
For the nine-month period, Telesat’s revenue fell by 27% to $324 million, with operating expenses rising by 8%. Adjusted EBITDA for this period was $173 million, a 44% decrease from the prior year. The company’s net loss for the nine months was $97 million, compared to a net income of $145 million in 2024. Key strategic moves included distributing 62% of Telesat Lightspeed equity to a subsidiary and appointing Donald Tremblay as the new CFO.
Looking ahead, Telesat remains focused on its Telesat Lightspeed project, with plans for an initial satellite launch next year. The company expects full-year revenues between $405 million and $425 million and aims to optimize its corporate structure to enhance financial flexibility. Despite current challenges, Telesat is committed to expanding its satellite fleet and exploring new growth opportunities.