)
Edge6 Mar 2026
Upvoted: The Story of Reddit
How Reddit built a unique platform around communities and conversation, turning human insight and intent into a distinctive business model.
MDA Space
MDA Space (MDA) investor relations material
MDA Space Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Mar, 2026
Executive summary
Achieved record 2025 revenue of CAD 1.63 billion (or $1,633 million), up 51% year-over-year, primarily driven by Satellite Systems.
Adjusted EBITDA reached CAD 324 million ($324M), up 49% year-over-year, with a margin of 19.8%.
Backlog at year-end was CAD 4 billion ($4.0B), supporting strong revenue visibility for 2026 and beyond.
Strategic investments included Montreal facility expansion, SatixFy acquisition for chip technology, and launch of 49North defense tech organization.
Pipeline expanded to CAD 40 billion ($40B) in cumulative opportunities over five years, with CAD 10 billion in advanced stages.
Financial highlights
Q4 2025 revenue was CAD 499 million ($499M), up 44% year-over-year; full-year Adjusted EBITDA was CAD 324 million ($324M), margin 19.8%.
Adjusted net income for 2025 was CAD 190 million ($190M), up 71% year-over-year; adjusted diluted EPS was $1.46, up 66%.
Gross margin for 2025 was 25.1%, slightly down from 26.1% in 2024.
Ended 2025 with net cash of CAD 152 million and total available liquidity of CAD 821 million; net debt to adjusted EBITDA ratio at 0.4x.
Operating cash flow was $407M; free cash flow totaled $165M, both down from 2024 due to higher capex.
Outlook and guidance
2026 revenue expected between CAD 1.7–1.9 billion ($1.7B–$1.9B), ~10% growth at midpoint.
2026 Adjusted EBITDA guidance of CAD 320–370 million ($320M–$370M), margin 18–20%.
CapEx for 2026 projected at CAD 225–275 million ($225M–$275M), focused on Montreal facility, chip development, and commercial initiatives.
Free cash flow expected to be neutral to negative in 2026 due to working capital and CapEx.
How does the $10B pipeline convert to backlog
Explain 2026 neutral to negative free cash flow
Segment growth from strategic investments & acquisitions
Pipeline segment split: defense vs. commercial?
Key CapEx investment areas for 2026?
Defense growth impact on EBITDA margins?
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Next MDA Space earnings date
Q1 20267 May, 2026
MDA Space
Next MDA Space earnings date
Q1 20267 May, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
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.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage