MDA Space (TSE:MDA) Announces Quarterly Earnings Results

MDA Space (TSE:MDA) issued its quarterly earnings data on Thursday. The company reported C$0.38 EPS for the quarter, FiscalAI reports. MDA Space had a net margin of 6.64% and a return on equity of 8.38%. The business had revenue of C$464.10 million during the quarter.

Here are the key takeaways from MDA Space’s conference call:

• Q1 revenue grew 32% YoY to CAD 464 million with adjusted EBITDA of CAD 91 million (19.5% margin); management reiterated full-year 2026 guidance of CAD 1.7–1.9 billion revenue and CAD 320–370 million adjusted EBITDA.
• The company completed a successful U.S. IPO and began trading on the NYSE, raising gross proceeds of USD 341 million, and ended the quarter with CAD 544 million cash and CAD 1.2 billion total available liquidity.
• MDA Space cites a CAD 40 billion opportunity pipeline (including CAD 10 billion of downselected opportunities) and recent commercial/defense wins — US MDA SHIELD IDIQ selection, an MOU with Hanwha, formation of 49 North, DIA optical observatory contract, Airbus repeat antenna order, and MLS/CAD 200M DND launchpad deal — signalling strong booking potential.
• Several operational and technology milestones were reached, including receipt of production-ready Prime Two ASIC chips for MDA AURORA/Telesat programs, delivery of the first satellites under the Globalstar 17-satellite contract, and completion of CHORUS thermal vacuum testing ahead of its late-2026 launch window.
• Cash flow and investment profile tightened in Q1 as CapEx rose to CAD 88 million (Montreal production ramp) and free cash flow was negative CAD 28 millionCAD 225–275 million and expects free cash flow to be neutral-to-negative, while backlog modestly declined to CAD 3.7 billion due to program execution.

MDA Space Stock Up 6.1%

Shares of TSE MDA traded up C$2.67 on Thursday, reaching C$46.67. 1,548,956 shares of the company’s stock traded hands, compared to its average volume of 1,124,435. MDA Space has a 12 month low of C$20.85 and a 12 month high of C$50.98. The business’s 50 day simple moving average is C$42.03 and its two-hundred day simple moving average is C$34.15. The company has a market cap of C$6.43 billion, a price-to-earnings ratio of 55.56 and a beta of -0.92. The company has a quick ratio of 1.00, a current ratio of 0.47 and a debt-to-equity ratio of 30.34.

Wall Street Analyst Weigh In

MDA has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on shares of MDA Space from C$48.00 to C$57.00 in a report on Thursday, March 5th. Desjardins raised their price objective on shares of MDA Space from C$51.00 to C$53.00 and gave the stock a “buy” rating in a report on Friday, March 20th. ATB Cormark Capital Markets lowered their price objective on shares of MDA Space from C$61.00 to C$46.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Scotiabank upgraded shares of MDA Space to a “strong-buy” rating in a report on Thursday, March 19th. Finally, BMO Capital Markets raised their price objective on shares of MDA Space from C$45.00 to C$50.00 in a report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$48.50.

About MDA Space

Building the space between proven and possible, MDA Space (TSX:MDA; NYSE:MDA) is a trusted mission partner to the global defence and space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The global MDA Space team of more than 4,000 space experts has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that’s been in our DNA since day one.