MDA Space remains optimistic about fiscal 2025 despite losing a $1.8-billion EchoStar contract after SpaceX purchased the company’s spectrum assets. The Brampton firm posted strong third-quarter results, reporting $409.8 million in revenue—up 45% year-over-year—driven largely by satellite systems, which earned $283.5 million.
Gross profit rose 43% to $108.1 million, and shares climbed eight percent after earnings, though the stock remains down nearly 20% this year. CEO Mike Greenley said over half of MDA’s $20-billion opportunity pipeline involves satellite constellations. MDA also invested $10 million in Maritime Launch to strengthen Canada’s space ecosystem.
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