$474M Contract Expansion for Telesat Lightspeed LEO Satellites
MDA has more than doubled off its 52-week low of $15.
Summary
MDA Space secured a $474 million follow-on order to build 27 additional satellites for Telesat's Lightspeed LEO constellation, expanding the total to 225 satellites. The deal also adds 500 MHz of military Ka-band spectrum to all satellites, replacing commercial Ka-band, and positions MDA as prime contractor for Canada's ESCP-P secure communications program. This builds on the strategic partnership with the Canadian Department of National Defence and Telesat announced last year. The majority of the contract value will enter backlog in Q3 2026, providing multi-year revenue visibility. The award reinforces MDA's role in sovereign defense communications and commercial LEO broadband, with the expanded constellation directly supporting Arctic military operations.
At the time of this announcement, MDA was trading at $33.70 on NYSE in the Technology sector, with a market capitalization of approximately $5.2B. The 52-week trading range was $15.00 to $49.37. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.