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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
MDA Space
MDA Space (MDA) investor relations material
MDA Space Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 revenue was CAD 498.1M, up 21.5% YoY; Adjusted EBITDA reached CAD 96.0M, up 15.9%, and FY2026 guidance increased.
Backlog was CAD 3,949.1M and the opportunity pipeline exceeded CAD 40B, supporting revenue visibility and growth opportunities beyond 2026.
Pending Blue Canyon Technologies and CLS acquisitions could expand market reach, subject to closing conditions and regulatory approvals.
Financial highlights
Q3 revenue rose to CAD 498.1M from CAD 409.8M; gross profit increased to CAD 125.9M from CAD 108.0M, while gross margin declined to 25.3% from 26.4% on program mix.
Q3 Adjusted EBITDA was CAD 96.0M versus CAD 82.8M; its 19.3% margin compared with 20.2%, reflecting program mix and higher SG&A investment.
Adjusted net income grew 26.1% to CAD 60.4M; Adjusted diluted EPS was CAD 0.37, up 0.7% as higher average shares partly offset earnings growth.
Nine-month revenue increased 28.8% to CAD 1,460.8M; Adjusted EBITDA rose 24.2% to CAD 282.9M, with a 19.4% margin.
Nine-month adjusted net income was CAD 162.9M versus CAD 135.6M; Adjusted diluted EPS was CAD 1.11 versus CAD 1.05.
Outlook and guidance
FY2026 revenue guidance increased to CAD 1.90B–CAD 1.95B from CAD 1.8B–CAD 1.9B, implying ~18% YoY growth at the midpoint.
FY2026 Adjusted EBITDA guidance increased to CAD 355M–CAD 375M from CAD 330M–CAD 370M, implying ~13% midpoint growth; margin guidance remains 18%–20%.
FY2026 capital expenditure guidance remains CAD 225M–CAD 275M; free cash flow is expected to be neutral to negative amid program working-capital fluctuations.
MDA CHORUS launch was planned for later in 2026, with launch availability and execution among the factors affecting plans.
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Latest events from MDA Space
- $3.949B backlog and a $40B+ pipeline support raised 2026 financial guidance.MDA
Investor presentation - Q2 2026 revenue up 34%, $4B backlog, raised guidance, and major acquisitions announced.MDAQ2 2026
- Rapid growth in satellite systems and robotics drives strong financial performance and future expansion.MDAJefferies Global Industrial Conference
- Acquisition of a 70% stake in a geointelligence leader for €567M to double recurring revenue.MDAM&A announcement
- Flexible shelf offering supports growth in the space sector but carries notable investment risks.MDARegistration filing
- $620M deal expands U.S. defense access, adds $3.5B pipeline, and boosts 2027 earnings.MDAM&A announcement
- Digital satellite leadership, high-volume production, and global expansion drive future growth.MDA2026 Jefferies Space Virtual SummitSpace Virtual Summit
- Record backlog and strong revenue growth drive raised 2024 outlook and positive free cash flow.MDAQ2 2024
- Acquisition enhances digital satellite capabilities and is accretive by 2027.MDAM&A Announcement
Next MDA Space earnings date
Q4 20263 Mar, 2027
MDA Space
Next MDA Space earnings date
Q4 20263 Mar, 2027
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Frequently asked questions
MDA Ltd. offers technology solutions in satellite systems, Earth observation, and space exploration. The company serves commercial, government, and defense customers with services including satellite communications, geospatial imagery, and robotics for space missions. The company is headquartered in Brampton, Canada, and its shares are listed on the TSX.