6-K
Foreign issuer report
✓ VerifiedTelesat reported first-quarter revenue down 25% to $87 million with a $151 million net loss, invested $171 million in Lightspeed, and maintained 2026 guidance.
Filed May 5, 2026 · 07:01 ET
Summary
- Consolidated revenue was $87 million, down 25%, with GEO revenue of $86 million down 26% on the structural decline.
- Net loss was $151 million against a $51 million loss a year earlier; GEO adjusted EBITDA margin was 72% excluding $7 million of refinancing costs.
- The company invested $171 million in Lightspeed during the quarter, $152 million of it capital expenditure, bringing the program total to approximately $2.7 billion.
- GEO backlog was approximately $800 million and LEO backlog approximately $1.1 billion; guidance is maintained with GEO revenue of $300 million to $320 million.
Key facts
- Revenue
- $87 million, down 25%
From the filing for Revenue
“Telesat reported consolidated revenue of $87 million, a decrease of 25%”
- Lightspeed spend
- $171 million in Q1
From the filing for Lightspeed spend
“we invested $171 million in the Telesat Lightspeed program in the first quarter of 2026”
Why it mattersThe GEO decline is accelerating just as Lightspeed spending peaks, making the LEO backlog build the number to watch.
- Filed
- May 5, 2026
- Accepted
- 2026-05-05 11:01Z
- Period
- May 5, 2026
- Accession no.
- 0001213900-26-051896
- Size
- 798 KB
- Index
- Filing index