Telesat is a Canadian satellite communications company and operator, providing connectivity solutions to telecom, government, and enterprise clients globally. They are currently developing Telesat Lightspeed, a low Earth orbit (LEO) constellation of 198 satellites designed for high-speed, low-latency broadband services. Telesat partners with companies like MDA Space, Orange, and Intellian for satellite manufacturing, terrestrial infrastructure, and user terminals. The company aims to begin launching satellites in 2026, with the constellation fully operational by 2027.
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Telesat’s 2025 revenue declined by 27%.
MDA Space’s acquisition of SatixFy’s digital payload division increased the technical resources available to finalize the chip design for Telesat Lightspeed payloads.
Telesat signed a memorandum of understanding with Hanwha Systems.
Telesat’s 2025 adjusted EBITDA was CA$213 million.
Telesat Government Solutions was awarded a contract under the U.S. Department of War’s $151 billion SHIELD IDIQ program.
Telesat signed a multi-year service agreement with Viasat to integrate Lightspeed into aviation and maritime portfolios.
Telesat is in discussions with lenders to refinance $2.1 billion in debt maturing between late 2026 and 2027.
The military Ka-band allocation represents 25% of the total spectrum on which Telesat Lightspeed will operate.
Telesat forecasts total Lightspeed spending of $1.0 billion to $1.2 billion in 2026.
Telesat forecasts Adjusted EBITDA of $210 million to $230 million for 2026.
Telesat plans to add 500 MHz of military Ka-band spectrum to 156 Lightspeed satellites.
Telesat and MDA Space signed a partnership agreement with the government in December for a multi-frequency Arctic milsatcom capability.
The spectrum reallocation will not affect the Telesat Lightspeed deployment schedule.
Telesat, the Government of Canada, and MDA Space finalized a partnership to deliver MILSATCOM architecture for the Enhanced Satellite Communications Project – Polar.
Telesat’s first Lightspeed satellites are scheduled to launch at the end of 2025.
Telesat’s Lightspeed constellation was previously targeted to enter service around the end of 2027.
Telesat Lightspeed will replace an equivalent amount of commercial Ka-band on the user link with military Ka-band spectrum while leaving gateway links unaffected.
Telesat Government Solutions received an award in February 2026 under the U.S. Missile Defense Agency’s $151 billion SHIELD IDIQ program.
Telesat added 500 MHz of military Ka-band spectrum to its Lightspeed low Earth orbit constellation of 156 satellites.
Telesat forecasts GEO revenue of $300 million to $320 million for 2026.