MDA Space (MDA) Investor presentation summary

Market and industry trends

• Global space economy projected to reach $1.8T by 2035, driven by lower launch costs, defense spending, and new applications.

• 40,000–50,000 satellites expected to launch between 2025–2034, with 20–30% addressable by the company.

• Defense spending is accelerating globally, with major commitments in Canada, the US, Europe, and Asia.

• Space is increasingly critical for national security, connectivity, and exploration, fueling demand for advanced technologies.

Business overview and strategy

• Operates across satellite systems (69% of revenue), robotics & space operations (18%), and geointelligence (13%).

• Over $40B opportunity pipeline, with high percentage of down-selected and follow-on opportunities.

• Strategic investments exceeding $1B between 2020–2025 in next-gen products and facility expansions.

• Focused on organic growth, maintaining a strong balance sheet, and selective strategic transactions.

Financial performance and outlook

• 2025 revenue reached $1.6B (+51% YoY), with adjusted EBITDA of $324M (+49% YoY) and a margin of 19.8%.

• Q1 2026 revenue was $464M (+32% YoY), adjusted EBITDA $91M, and net cash position of $299M.

• Backlog at Q1 2026 stands at $4.8B, over 4x higher than 2021 year-end.

• 2026 guidance: revenue $1.7–$1.9B (+10% YoY), adjusted EBITDA $320–$370M, margin 18–20%.

• Total liquidity of $1.2B and leverage ratio of -0.9x as of Q1 2026.