Telesat Q2 Revenue $79M, Net Loss $559M; Lands $2.7B Canada Contract

Telesat reported Q2 2026 consolidated revenue of $79 million, a 25% decrease year-over-year, and an adjusted EBITDA of $22 million, down 62%. The company posted a net loss of $559 million for the quarter. Despite the financial declines, Telesat announced a significant $2.7 billion contract with the Government of Canada for its Lightspeed network, leading to an expansion of the constellation to 225 satellites. Additionally, Telesat is eligible for US$189 million in FCC C-Band incentive payments and secured a US$120 million term loan, while also raising its 2026 Lightspeed spending forecast to between $1.3 billion and $1.5 billion.