Telesat discussed its fourth-quarter 2025 financial results on an earnings call attended by CEO Daniel Goldberg, CFO Donald Tremblay and investor relations VP James Ratcliffe, with analysts from ATB Cormark, Quilty Space, Deutsche Bank and LightShed Ventures. Management said Lightspeed’s first satellites are still scheduled to launch at the end of the year, but full global commercial service is now expected around the end of Q1 2028 due to timing for ASIC chip readiness. Goldberg said Telesat will dedicate 500 megahertz, or 25%, of Lightspeed’s user-link spectrum to military Ka, with an expected cost impact of about USD 25 million and no schedule impact, and said gateways are unaffected by the spectrum change. Tremblay reported 2025 revenue of USD 418 million and adjusted EBITDA of USD 213 million, and guided 2026 GEO revenue of USD 300 million to USD 320 million with GEO adjusted EBITDA of USD 210 million to USD 220 million, excluding debt-refinancing expenses. Tremblay said Telesat expects to spend USD 1 billion to USD 1.2 billion on Lightspeed in 2026, including operating costs, capitalized labor and interest, and said the company is working to refinance USD 1.7 billion of Telesat Canada debt due in December 2026.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Telesat Corporation published the original content used to generate this news brief on March 17, 2026, and is solely responsible for the information contained therein.
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