Lenders to Telesat have offered a $3.2-billion rescue package to repay debt that comes due in December. Telesat’s shares fell 9.8 per cent on Tuesday, their worst day of the week, and finished down 6.2 per cent.
The SpaceQ Canadian Space Index fell 3.6 per cent to 95.15, while the S&P/TSX Composite lost 1.1 per cent. Six of the nine companies on the board declined.
The SpaceQ Canadian Space Index is an editorial measure published by SpaceQ for journalistic purposes. It is not an investable index, not a financial benchmark, and nothing in it constitutes investment advice.
The board
| Company | Ticker | Close, Oct. 23 | Week | YTD | 52-week range |
|---|---|---|---|---|---|
| Calian Group | CGY | $84.36 | +1.6% | +53.6% | 84% |
| C-COM Satellite Systems | CMI | $0.86 | +1.2% | +6.2% | 24% |
| Magellan Aerospace | MAL | $32.82 | +0.4% | +78.1% | 63% |
| MDA Space | MDA | $38.64 | -3.1% | +45.0% | 38% |
| Maritime Launch Services | MAXQ | $0.46 | -3.2% | +64.3% | 62% |
| 5N Plus | VNP | $26.25 | -3.4% | +48.1% | 30% |
| Intermap Technologies | IMP | $0.75 | -3.8% | -59.5% | 0% |
| Telesat | TSAT | $59.81 | -6.2% | +51.1% | 51% |
| Baylin Technologies | BYL | $0.165 | -17.5% | -36.5% | 0% |
Telesat claws back part of Tuesday’s drop
Telesat’s shares held at $63.73 on Monday, then fell to $57.47 on Tuesday, the day after the rescue offer was reported. Chief financial officer Donald Tremblay said the company continues to seek a negotiated resolution in good faith.
Telesat GEO, the subsidiary that runs the company’s older geostationary satellites, owes about $2.4 billion on a term loan and notes that mature in December, and the first payment is due Dec. 6. The shares recovered to $59.81 by Friday and are still up 51.1 per cent this year.
Calian tops a short list of gainers
Calian Group rose 1.6 per cent to $84.36, the best showing on the board. On Monday it confirmed Will Majic, its acting chief financial officer since February, in the job and named Kristine McTaggart president of its essential industries business.
C-COM Satellite Systems gained 1.2 per cent to 86 cents. Magellan Aerospace edged up 0.4 per cent, and its 78.1 per cent gain since January is still the best of the nine tracked by SpaceQ in the index.
MDA and 5N Plus fall on Thursday
MDA Space lost 7.2 per cent on Thursday and 5N Plus 7.4 per cent, the same day SpaceX fell 9.1 per cent and the Procure Space ETF 3.0 per cent. MDA finished the week down 3.1 per cent, at $38.64, and 5N Plus down 3.4 per cent, at $26.25. MDA reports third-quarter results before markets open on Nov. 5.
Maritime Launch Services gave back 3.2 per cent, to 46 cents, a week after its jump on conditional Toronto Stock Exchange approval. On Wednesday, Defence Minister David McGuinty announced a $20-million, 10-year deal with NordSpace for a launch pad at its Atlantic Spaceport Complex in Newfoundland and Labrador. The department’s release also points to the 10-year agreement it signed with Maritime Launch in March.
Baylin Technologies fell 17.5 per cent to 16.5 cents, its lowest close of the past year and the steepest drop on the board. The shares have lost 36.5 per cent since January.
Intermap Technologies slid 3.8 per cent to 75 cents, also a 52-week closing low. Its 59.5 per cent decline this year is the worst of the nine.
Number of the week: $3.2 billion
The rescue package Telesat’s lenders have offered to repay debt that comes due in December. Telesat GEO, the subsidiary that runs its older satellites, owes about $2.4 billion, and the first payment is due Dec. 6.
NorthStar climbs in New York
NorthStar Earth & Space rose 14.1 per cent to $US 3.31 on NYSE American, more than making back the previous week’s 11.6 per cent loss. Its conditional approval to list in Toronto has until Nov. 30 to be completed.
SpaceX swings on its first profit
SpaceX reported third-quarter revenue of $US 14.6 billion after the close on Tuesday, and its first profit as a public company. Chief financial officer Bret Johnsen raised the year-end target for the company’s data centre capacity to 2.5 to 3 gigawatts, from more than 2 gigawatts in August.
The shares jumped 7.8 per cent on Wednesday to $US 159.31, then fell 9.1 per cent on Thursday and ended the week up 1.0 per cent.
Lockheed and Northrop rally on results
Lockheed Martin rose 7.0 per cent on Thursday after it reported third-quarter sales of $US 20.7 billion, up 11 per cent, and raised its profit forecast for the year. Sales in its space segment grew 4 per cent, to $US 3.5 billion. The shares gained 9.4 per cent for the week.
Northrop Grumman reported on Tuesday, with sales up 7 per cent to $US 11.1 billion and a backlog of $US 109.6 billion, and it also raised its profit forecast. Its Space Systems sales rose 2 per cent, to $US 2.7 billion. The shares rose 4.6 per cent that day and 6.1 per cent for the week.
Boeing reports on Tuesday and L3Harris on Thursday.
Firefly leads U.S. stocks
Firefly Aerospace said Wednesday it had finished the preliminary design review of Elytra, the spacecraft that will carry NASA drones to the Moon’s south pole on the MoonFall mission. Its shares rose 8.2 per cent that day and 8.8 per cent for the week, the best among the 20 U.S. space companies SpaceQ tracks.
Viasat’s Maxwell spacecraft, built by Rocket Lab, launched Tuesday on a SpaceX Falcon 9 to test relay services for NASA. Viasat rose 4.0 per cent the next day and 4.5 per cent for the week.
Iridium reported third-quarter revenue of $US 245.7 million on Tuesday, up 8 per cent, and said Rocket Lab’s purchase of the company should close by mid-2027. Its shares rose 1.5 per cent.
Momentus fell 17.6 per cent, the steepest U.S. decline, and Comtech lost 10.8 per cent. In all, 11 of the 20 rose. The Procure Space ETF gained 1.5 per cent while the S&P 500 slipped 0.5 per cent.
International roundup: OHB extends its run
OHB rose 8.0 per cent to €207, about $325, adding to the previous week’s 21.4 per cent gain. Avio gained 1.7 per cent to €30.63, about $48.04.
Eutelsat held its ground after its 28 per cent jump, edging up 0.1 per cent to €1.77, about $2.77. SES fell 5.1 per cent to €3.96, about $6.21, most of it on Friday.
Synspective lost 5.4 per cent in Tokyo to 1,153 yen, about $10.29, and Astroscale 4.4 per cent to 1,033 yen, about $9.22. Lunar-lander developer ispace slipped 2.3 per cent to 374 yen, about $3.34.
Innospace, the South Korean rocket developer listed on the KOSDAQ, fell 6.4 per cent to 4,950 won, about $5.21.
Seraphim Space Investment Trust dropped 9.3 per cent to £1.74, about $3.25, its second weekly decline since it reported annual results on Oct. 15. Canadian-dollar equivalents use Friday’s exchange rates.
The SpaceQ Canadian Space Index is an equal-weighted editorial measure of Canada’s publicly traded space-economy companies, with a base of 100.00 at the close of Sept. 4, 2026. Full methodology (v1.0). The SpaceQ Canadian Space Index is an editorial measure published by SpaceQ for journalistic purposes. It is not an investable index, not a financial benchmark, and nothing in it constitutes investment advice.
Source: Yahoo Finance Canada. Figures are as of the close of Oct. 23, 2026. C-COM Satellite Systems’ figures are as of its last trade, Oct. 22. NSTR figures are from Yahoo Finance.