Telesat Corporation Reports 2025 Fourth‑Quarter Results and Expands Defence‑Oriented Services
Quarterly Performance
Revenue for the quarter ended 31 December 2025: C$94.04 million.
GAAP earnings per share: ‑C$8.48.
The company’s loss for the quarter declined relative to prior periods, indicating a moderation of operating deficits.
Strategic Development
Telesat has added a military Ka‑band transponder to its Lightspeed low‑Earth‑orbit satellite constellation.
This capability is positioned to satisfy growing global demand for defence and sovereignty communications.
The expansion is expected to strengthen Telesat’s competitive stance in the rapidly evolving satellite services market.
Market Context
Shares of Telesat Corp. closed at C$48.64 on 15 March 2026.
The 52‑week high reached C$51.60 on 8 October 2025, while the low was C$20.55 on 6 May 2025.
The company’s market capitalization stands at C$2.41 billion.
With a price‑to‑earnings ratio of ‑4.398, the stock reflects the company’s current operating losses.
Industry Environment
The Canadian government is advancing its independent launch capability by leasing a spaceport on the east coast, a move that could reduce reliance on foreign launch services.
Canada’s defence ministry is also evaluating participation in a UK‑led multinational rapid‑response force, signalling continued investment in defence infrastructure and technology.
Outlook
Telesat’s focus on expanding its military Ka‑band offering and the broader shift toward low‑Earth‑orbit solutions are expected to drive future revenue growth.
The company’s legacy business is experiencing contraction, placing additional pressure on financial performance until new revenue streams mature.
