Telesat publishes Q3 2026 results call transcript
TSAT•Telesat reported third-quarter revenue of $81 million and a net loss of $157 million, including a $90 million loss from revaluing Lightspeed financing warrants. It delayed Lightspeed global service to end-Q2 2028 and lowered full-year spending guidance to $1.1 billion–$1.3 billion.
1. Lightspeed schedule and spending
Telesat delayed Lightspeed global service to the end of Q2 2028 from the end of Q1. Higher-latitude commercial service remains scheduled for the end of Q1. Full-year Lightspeed spending guidance fell to $1.1 billion–$1.3 billion from $1.3 billion–$1.5 billion, reflecting the revised deployment schedule.
2. Quarterly results and debt
Third-quarter revenue totaled $81 million, while net loss reached $157 million, including a $90 million loss from revaluing Lightspeed financing warrants. Management remains focused on refinancing GEO debt beginning to mature this year; advisers are engaging debt holders while the company evaluates alternatives.
