The earnings call highlighted strong financial growth and strategic advancements including significant contract wins and acquisitions. While there were minor challenges in specific segments and working capital management, the overall performance and outlook remain robust.

Company Guidance -

Q3 2025

During MDA Space Limited's second-quarter 2025 earnings call, the company provided robust guidance and detailed financial metrics. MDA Space reported Q2 revenues of $373 million, marking a 54% year-over-year increase, with an adjusted EBITDA of $76 million, up 57% from the previous year, resulting in an adjusted EBITDA margin of 20.4%. The company ended the quarter with an operating cash flow of $53 million and a net cash position of $417 million. Their backlog reached $4.6 billion, with the addition of a significant EchoStar contract pushing it over $6 billion. The EchoStar deal, valued initially at $1.8 billion, involves the production of over 100 MDA AURORA direct-to-device satellites, with potential expansion options. For full-year 2025, MDA Space updated its revenue guidance to $1.57 billion to $1.63 billion, reflecting 48% growth at the midpoint, and adjusted EBITDA guidance to $305 million to $320 million, representing 45% growth. Capital expenditures are projected to be between $210 million and $240 million, with free cash flow expected to remain neutral to positive. The company is preparing to ramp up satellite production in 2027 and 2028, leveraging its expanded Montreal facility, which will soon be capable of delivering up to two satellites per day.

Strong Revenue Growth

Q2 revenues totaled $373 million, up 54% year-over-year. Adjusted EBITDA was $76 million, up 57% year-over-year, and adjusted EBITDA margin was a solid 20.4%.

Significant Backlog Increase

Backlog increased to over $6 billion with the addition of the EchoStar contract, providing strong revenue visibility for 2025 and beyond.

Major Contract with EchoStar

Awarded an initial $1.8 billion contract to design, manufacture, and test over 100 satellites for EchoStar's LEO constellation with potential to expand to $3.5 billion.

Successful Acquisition

Completed the acquisition of SatixFy Communications to enhance satellite systems offering, marking a strategic expansion.

Positive Full Year Revenue and EBITDA Outlook

Updated 2025 full year outlook with expected revenues between $1.57 billion and $1.63 billion, and adjusted EBITDA between $305 million and $320 million.

Technological Advances in Satellite Systems

Demonstrated digital beam forming and steering multiple beams with Ka-band direct radiating array, marking significant progress in satellite communication systems.

MDA Ltd (TSE:MDA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:MDA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 07, 2025	2025 (Q3)	0.35 / -	0.28	―	―	―
Aug 07, 2025	2025 (Q2)	0.29 / 0.38	0.19	100.00% (+0.19)	―	―
May 08, 2025	2025 (Q1)	0.25 / 0.29	0.15	93.33% (+0.14)	―	―
Mar 07, 2025	2024 (Q4)	0.27 / 0.28	0.23	21.74% (+0.05)	―	―
Nov 15, 2024	2024 (Q3)	0.20 / 0.28	0.08	250.00% (+0.20)	―	―
Aug 08, 2024	2024 (Q2)	0.13 / 0.19	0.08	137.50% (+0.11)	―	―
May 09, 2024	2024 (Q1)	0.13 / 0.15	0.13	15.38% (+0.02)	―	―
Feb 28, 2024	2023 (Q4)	0.09 / 0.23	0.06	283.33% (+0.17)	―	―
Nov 08, 2023	2023 (Q3)	0.09 / 0.08	0.15	-46.67% (-0.07)	―	―
Aug 11, 2023	2023 (Q2)	0.08 / 0.08	-0.07	214.29% (+0.15)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:MDA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	C$46.18	C$44.46	-3.72%
May 08, 2025	C$24.64	C$24.40	-0.97%
Mar 07, 2025	C$22.79	C$26.83	+17.73%
Nov 15, 2024	C$25.85	C$24.97	-3.40%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.