MDA Ltd
OTC:MDALF

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MDA Ltd
OTC:MDALF
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Price: 19.89 USD -0.3% Market Closed
Market Cap: 2.4B USD

MDA Ltd
Investor Relations

MDA Ltd., a Canadian company with roots stretching back to the early days of the space race, has established itself as a pivotal player in the global space industry. Known for its innovation in satellite technology, robotics, and geospatial intelligence, MDA's journey began with its involvement in providing satellite communication systems and technology for early space exploration. Over the years, it has expanded its portfolio, becoming a known provider of advanced technology and services to commercial and governmental entities worldwide. MDA's satellite systems are not just communication behemoths; they underpin critical infrastructures, facilitate deep-space missions, and contribute to substantial advancements in earth observation technologies. By creating bespoke satellite solutions and continuously upgrading them for resilience and efficiency, MDA has carved out a significant niche in the market.

The revenue streams for MDA are intriguingly multi-faceted, derived from its three main operating segments: Geointelligence, Robotics & Space Operations, and Satellite Systems. In Geointelligence, MDA analyzes satellite-acquired data to provide insights to sectors ranging from agriculture to defense, allowing stakeholders to make more informed decisions based on real-time information. The Robotics & Space Operations segment stands out with its more tangible contributions, famously providing technology for the Canadarm used in space shuttles and the International Space Station (ISS). This segment continues to win contracts for innovative robotic solutions for space exploration and maintenance operations. Meanwhile, Satellite Systems deliver both custom-made and off-the-shelf solutions that support telecommunications, scientific research, and governmental needs, ensuring a steady stream of business from defense organizations, private firms, and space agencies worldwide.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 14, 2025
AI Summary
Q3 2025

Strong Growth: MDA Space reported Q3 revenue of $410 million, up 45% year-over-year, and adjusted EBITDA of $83 million, up 49% year-over-year.

Backlog & Visibility: The backlog ended at $4.4 billion, providing revenue visibility into 2025, 2026 and beyond.

Guidance Reaffirmed: Management reaffirmed 2025 full year guidance for revenue between $1.57 billion and $1.63 billion and adjusted EBITDA between $305 million and $320 million.

Contract Update: The significant EchoStar contract was terminated, but MDA expects compensation for termination costs and maintains that demand remains high.

Operational Delays: Some delays in Globalstar and CHORUS programs due to supply chain issues, with delivery for Globalstar now expected in early 2026 and MDA CHORUS launch pushed to late 2026.

Strategic Moves: Closed SatixFy acquisition and invested $10 million in Maritime Launch Services to support Canada's domestic launch capability.

Defense Opportunities: Management highlighted growing defense-related opportunities, with increased government interest in space and sovereign capabilities.

Key Financials
Revenue
$410 million
Adjusted EBITDA
$83 million
Adjusted EBITDA Margin
20.2%
Gross Profit
$108 million
Gross Margin
26.4%
Adjusted Net Income
$46 million
Operating Cash Flow
$33 million
Free Cash Flow
-$37 million
Backlog
$4.4 billion
Book-to-Bill Ratio (last 12 months)
0.9x
Cash
$196 million
Available Liquidity
$404 million
Total Liquidity
$600 million
Net Debt to Adjusted EBITDA Ratio
0.3x
Capital Expenditures
$70 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Michael Greenley M.sc. Pmp
CEO & Director
No Bio Available
Ms. Stephanie McDonald
Chief People, Culture & Transformation Officer
No Bio Available
Mr. Cameron Ower
Chief Technology Officer
No Bio Available
Ms. Shereen Zahawi C.F.A., M.B.A.
Senior Director of Investor Relations
No Bio Available
Mr. David Snarch
VP, General Counsel & Corporate Secretary
No Bio Available
Ian McLeod
Vice President of Corporate Development
No Bio Available
Ms. Anita Bernie
Managing Director of UK
No Bio Available

Contacts

Address
ONTARIO
Brampton
9445 Airport Road
Contacts
+19057902800.0
mda.space