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MDA Space (MDA) investor relations material

MDA Space Status Update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Status Update summary8 Sep, 2025

EchoStar contract termination and compensation

  • Received termination-for-convenience notice from EchoStar for a CAD 1.8 billion satellite constellation contract due to EchoStar's strategic shift after selling spectrum to SpaceX following FCC discussions.

  • Termination is unrelated to performance; all costs and fees, including some margin, will be compensated as per contract terms, with resolution expected within the fiscal year.

  • Upfront payments already received will be included in the compensation calculation.

  • Termination-for-convenience clauses are standard in contracts, and extra protections were included due to EchoStar's financial background.

Financial outlook and business fundamentals

  • Backlog remains strong at CAD 4.6 billion (excluding EchoStar), providing multi-year revenue visibility.

  • 2025 financial outlook and guidance are reiterated, with no changes to OpEx or CapEx plans.

  • Only a small amount of 2025 revenue was expected from EchoStar; guidance range remains unchanged.

  • Majority of next year’s revenue is driven by already contracted backlog, with 20%-30% CAGR over five years still targeted.

Pipeline, technology, and market positioning

  • Opportunity pipeline stands at CAD 20 billion, with CAD 13 billion related to satellite constellations, split between broadband and direct-to-device networks.

  • A mature 5G-compliant AURORA digital satellite product is now market-ready, accelerated by EchoStar work.

  • Active pursuit of new constellation contracts, expecting at least one award in the next 12 months.

  • Expanded manufacturing capacity will support high-volume production and flexibility for new contracts.

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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.

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