The Canadian satellite company reported revenue of $180.1 million in the last quarter, down from $192.3 million in the same three months of 2021. Unfavourable foreign-exchange rates took its net loss to just over $228.7 million. CEO Dan Goldberg told analysts he’s still expecting to conclude deals to pay for Telesat’s multibillion-dollar constellation of low Earth-orbit satellites by the end of the year. (The Logic)
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The Canadian satellite company reported revenue of $180.1 million in the last quarter, down from $192.3 million in the same three months of 2021. Unfavourable foreign-exchange rates took its net loss to just over $228.7 million. CEO Dan Goldberg told analysts he’s still expecting to conclude deals to pay for Telesat’s multibillion-dollar constellation of low Earth-orbit satellites by the end of the year. (The Logic)
Talking point: The Lightspeed LEO constellation plans have shrunk as they have become more expensive due to supply-chain delays suffered by Telesat’s key supplier, Thales Alenia. Telesat needs to finalize agreements with Canadian and French export-credit agencies (“There’s been a lot of activity with them over the past quarter,” Goldberg said) and with other sources of capital to get Lightspeed underway (“We’re in advanced discussions right now”). Telesat isn’t considering the possibility that the delay will make the project not worth doing, Goldberg said.
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