Significant Revenue and Profit Growth
Q1 revenues totaled CAD 351 million, up 68% year-over-year; adjusted EBITDA was CAD 69 million, up 63% versus last year; and adjusted EBITDA margin was 19.5%.
Strong Backlog and Contract Wins
Backlog of CAD 4.8 billion, with significant enhancement from a CAD 1.1 billion follow-on contract from Globalstar for next-generation LEO constellation.
Positive Cash Flow and Financial Position
Operating cash flow was strong at CAD 267 million, ending the quarter with no debt and a net cash position of CAD 376 million.
Acquisition to Enhance Offerings
Entered into a definitive agreement to acquire SatixFy Communications Ltd. for USD 269 million, expected to enhance end-to-end Satellite Systems offering.
Reaffirmed 2025 Financial Outlook
Revenues expected to be between CAD 1.5 billion to CAD 1.65 billion, with adjusted EBITDA expected between CAD 290 million to CAD 320 million.