Telesat Q3 net loss widens 30% to CAD 157.22 million; revenue falls 20% to CAD 80.63 million
TSAT•Telesat’s third-quarter net loss widened 30% to CAD 157.22 million as revenue fell 20% to CAD 80.63 million. The company lowered expected 2026 Lightspeed spending to CAD 1.1 billion–CAD 1.3 billion.
1. Quarterly results
Telesat reported a third-quarter net loss of CAD 157.22 million, up 30% year over year, and revenue of CAD 80.63 million, down 20%. For the first nine months, its net loss widened to CAD 866.72 million and revenue fell 24% to CAD 247.18 million.
2. Lightspeed plans
Telesat lowered expected 2026 Lightspeed spending to CAD 1.1 billion–CAD 1.3 billion, citing the timing of satellite and launch payments. An August agreement with Canada’s Defence Investment Agency totaled CAD 2.7 billion, including options, for Lightspeed military services. Management expects high-latitude commercial service to begin around the end of the first quarter of 2028.
