MDA Space (MDA) Investor presentation summary

Company overview and market positioning

• Generated $1.1B in 2024 revenues, up 34% year-over-year, with a 55+ year history in space innovation and a global workforce of 3,800+.

• Operates across three business areas: Satellite Systems (66% of revenues), Robotics & Space Operations (21%), and Geointelligence (13%).

• Serves nearly every sector of the expanding space economy, with a balanced mix of commercial (~70%) and government (~30%) customers, and a strong presence in Canada and the US.

• Well positioned in a global space economy projected to grow ~60% by 2033, with significant opportunities in satellite systems, robotics, and geointelligence.

Financial performance and outlook

• Achieved $217M in adjusted EBITDA in 2024, up 25% year-over-year, with a robust and growing backlog providing high visibility for 2025 and beyond.

• Revenue target for 2025 is $1.57B–$1.63B, representing ~48% year-over-year growth, with 95%+ of expected 2025 revenues already in backlog.

• Maintains strong adjusted EBITDA margins (20–23.5%) and a net debt to LTM adjusted EBITDA ratio of 0.3x as of Q3 2025.

• Large $20B+ five-year cumulative pipeline supports future growth, with disciplined execution and strategic M&A as key drivers.

Business segments and technology leadership

• Satellite Systems: Prime contractor for LEO/MEO/GEO satellites, with high-volume manufacturing and digital satellite solutions (MDA AURORA™), supporting major constellations like Telesat Lightspeed.

• Robotics & Space Operations: World leader in space robotics, including Canadarm3 for NASA Artemis, and the MDA SKYMAKER™ suite for on-orbit servicing and assembly.

• Geointelligence: Operates RADARSAT-2 and is developing the next-gen MDA CHORUS™ EO constellation, offering near real-time, high-resolution Earth observation data.