5N Plus, a Montreal company that makes specialty semiconductors and ultra-pure materials for industries from space to medical imaging, reported its third-quarter results after markets closed Monday. Revenue rose 30 per cent to $US 136.4 million, and the company said it expects to reach the high end of its full-year guidance for adjusted EBITDA, a measure of operating profit, of $US 100 million to $US 105 million. 5N Plus shares surged 24.7 per cent on Tuesday and ended the week up 29.3 per cent at $33.53.
Elsewhere, MDA Space raised its 2026 revenue forecast on Thursday to $1.90 billion to $1.95 billion, from $1.8 billion to $1.9 billion, after third-quarter revenue rose 22 per cent to $498 million. MDA‘s shares gained 7.2 per cent on Friday and finished the week up 5.7 per cent at $40.16.
For the week, the SpaceQ Canadian Space Index rose 2.7 per cent to 95.59 with 5N Plus lending its weight, while the S&P/TSX Composite gained 0.5 per cent. The 5N Plus gain was more than the index’s whole rise. The index fell 3.4 per cent on Thursday, the day the S&P 500 lost 4.4 per cent, but won it all back on Friday.
The board
| Company | Ticker | Close, Nov. 6 | Week | YTD | 52-week range |
|---|---|---|---|---|---|
| 5N Plus | VNP | $33.53 | +29.3% | +89.2% | 53% |
| MDA Space | MDA | $40.16 | +5.7% | +50.8% | 41% |
| Telesat | TSAT | $58.89 | +5.5% | +48.8% | 49% |
| Calian Group | CGY | $84.97 | +2.4% | +54.7% | 85% |
| C-COM Satellite Systems | CMI | $0.84 | -2.3% | +3.7% | 16% |
| Intermap Technologies | IMP | $0.77 | -2.5% | -58.4% | 1% |
| Baylin Technologies | BYL | $0.135 | -3.6% | -48.1% | 0% |
| Magellan Aerospace | MAL | $31.59 | -5.1% | +71.5% | 58% |
| Maritime Launch Services | MAXQ | $0.445 | -5.3% | +58.9% | 49% |
5N Plus heads for the top of its forecast
5N Plus sold more in both of its businesses, specialty semiconductors and performance materials, and that drove the 30 per cent jump in revenue, but earnings didn’t keep pace. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7 per cent to $US 31.1 million, while the adjusted gross margin slipped to 31.4 per cent of revenue from 36.9 per cent a year earlier.
The company said it had expected margins in performance materials to come back down, and it is also dealing with rising input costs across its businesses. Demand, it said, is holding up. “We continue to operate at high capacity and to ramp additional production to support customer demand,” Richard Perron, the chief executive, said in the release.
Net earnings fell to $US 12.3 million, or 14 cents a share, from $US 18.2 million a year earlier, but that was largely down to share-based compensation, which cost $US 7.6 million this quarter after a $US 2.5-million credit in the same quarter last year. Take that out, as the company’s adjusted figures do, and earnings actually edged up, to 20 cents a share from 19 cents.
With $US 86.8 million in adjusted EBITDA through September, 5N Plus needs $US 18.2 million in the fourth quarter to hit the top of its guidance. Its order backlog grew to $US 447.3 million, though at its faster sales pace that now covers 299 days of revenue, 12 fewer than a year earlier, and net debt has come down to $US 32.4 million from $US 50.3 million at the end of 2025.
Perron also pointed to the gallium arsenide expansion 5N Plus announced for St. George, Utah, saying it would serve “growing demand across defence, space solar, medical imaging and industrial sensing applications.” That space solar business is why 5N Plus is in the index; it owns AZUR SPACE, which makes solar cells for satellites.
Telesat swings to a gain
Telesat’s shares fell 5.9 per cent on Monday and again on Thursday, then jumped 12.8 per cent on Friday to finish the week up 5.5 per cent at $58.89.
Conservative MP Jamil Jivani on Tuesday made public a letter asking the federal ethics commissioner to decide whether Prime Minister Mark Carney needs a conflict-of-interest screen covering Telesat and its chief executive, Dan Goldberg, a long-time friend. Carney’s office has said he has not taken part in any decisions or discussions about Telesat.
Calian gains, Magellan falls
Calian Group gained 2.4 per cent to $84.97, leaving it closer to its 52-week high than any other company on the board. Magellan Aerospace went the other way, falling 5.1 per cent to $31.59 after losing 5.9 per cent on Thursday alone.
Maritime Launch moves to the TSX
Maritime Launch Services began trading on the Toronto Stock Exchange on Tuesday under its existing symbol, MAXQ, after winning final approval to list there; its last day on Cboe Canada was Monday. The shares fell 2.5 cents, or 5.3 per cent, in their first week on the TSX, to 44.5 cents. Thursday also brought news for the launch business: Budget 2026 sets Canadian medium-lift rockets as a formal goal, with National Defence to manage dedicated launch and test facilities.
Intermap Technologies added Terry Ryan to its board on Tuesday. Ryan is a former chief executive of Constellis, and Philippe Frappier stepped down from the board to make room, staying on as an observer. The shares fell two cents, or 2.5 per cent, to 77 cents, near the bottom of their 52-week range, and their 58.4 per cent loss since January is the worst of the nine. Among the other small names, C-COM Satellite Systems lost two cents, or 2.3 per cent, to 84 cents in its last trade of the week, on Wednesday, while Baylin Technologies fell half a cent, or 3.6 per cent, to 13.5 cents, matching its lowest close of the past year.
Number of the week: 89.2 per cent
5N Plus’s share-price gain since January, after this week’s jump. It overtakes Magellan Aerospace, whose 80.8 per cent gain led the board a week ago and slipped to 71.5 per cent this week.
NorthStar gains in New York
NorthStar Earth & Space rose 9.6 per cent to $US 3.64 on NYSE American, and it has until Nov. 30 to meet the conditions of its approval to list in Toronto.
The U.S. board
| Company | Ticker | Close, Nov. 6 ($US) | Week |
|---|---|---|---|
| BlackSky | BKSY | $21.33 | +19.4% |
| Firefly Aerospace | FLY | $20.76 | +15.8% |
| Karman Space & Defense | KRMN | $45.61 | +14.2% |
| Virgin Galactic | SPCE | $2.77 | +7.4% |
| Momentus | MNTS | $2.05 | +5.7% |
| Satellogic | SATL | $3.48 | +4.8% |
| Globalstar | GSAT | $84.32 | +2.5% |
| SpaceX | SPCX | $134.27 | -0.3% |
| Intuitive Machines | LUNR | $10.47 | -1.9% |
| Iridium | IRDM | $44.04 | -1.9% |
| EchoStar | ECHO | $94.62 | -2.4% |
| Spire Global | SPIR | $8.65 | -2.5% |
| Rocket Lab | RKLB | $53.07 | -3.0% |
| Planet Labs | PL | $12.55 | -6.8% |
| Sidus Space | SIDU | $0.99 | -9.2% |
| Voyager Technologies | VOYG | $23.98 | -9.3% |
| Comtech | CMTL | $1.13 | -11.0% |
| Redwire | RDW | $7.21 | -14.1% |
| Viasat | VSAT | $63.95 | -17.0% |
| AST SpaceMobile | ASTS | $32.33 | -21.1% |
Firefly lands a $US 1.3-billion engine deal with AST
Firefly Aerospace said Friday that AST SpaceMobile will pay it more than $US 1.3 billion, in cash and AST shares, for 36 rocket engines, a licence to build them and three years of engineering support for a heavy-lift rocket AST is developing. Firefly surged 36.8 per cent that day, which turned a losing week into a 15.8 per cent gain.
AST rose 7.1 per cent on Friday after losing 11.3 per cent on Monday and 15.2 per cent on Thursday. Its 21.1 per cent plunge for the week was the steepest among the 20 U.S. space companies SpaceQ tracks. AST reports third-quarter results Nov. 9, Firefly a day later.
Karman and BlackSky jump on results
Karman Space & Defense raised its 2026 revenue forecast on Thursday to $US 755 million to $US 760 million, after third-quarter revenue rose 66 per cent to $US 202 million. Its bookings included a seven-year contract with Lockheed Martin on the THAAD missile-defence program, and its backlog has doubled since the end of last year, to $US 1.7 billion. The shares had lost 13.5 per cent on Wednesday and 6.1 per cent on Thursday, then surged 42.1 per cent on Friday to end the week up 14.2 per cent.
BlackSky reported record third-quarter revenue of $US 43 million on Thursday, up 118 per cent, and raised its full-year guidance. It rose 14.0 per cent that day and 11.6 per cent on Friday, for the best week among the U.S. names at 19.4 per cent.
Globalstar reported third-quarter revenue of $US 70.9 million on Thursday and pointed to the launch of its first replacement satellites, which MDA Space built. Its sale to Amazon is still expected to close in 2027. The shares rose 2.5 per cent.
Voyager Technologies raised the bottom of its 2026 sales forecast by $US 10 million on Monday, to $US 285 million, after record quarterly sales of $US 88.7 million. Its shares still fell 9.3 per cent for the week.
Viasat and Redwire tumble
Viasat had already lost 11.2 per cent on Wednesday and 11.1 per cent on Thursday when it reported after Thursday’s close. Revenue rose 3 per cent to $US 1.2 billion in its fiscal second quarter, and its net loss widened to $US 129 million from $US 61 million. The shares bounced 7.7 per cent on Friday but still finished the week down 17.0 per cent.
Redwire reported on Wednesday a record backlog of $US 619.7 million, while revenue grew 5 per cent. Its quarterly filing lists a $US 20-million DARPA award for further testing of a scaled version of its SabreSat spacecraft. The shares lost 19.8 per cent on Thursday and ended the week down 14.1 per cent.
SpaceX eyes Boost Mobile and picks Qualcomm
SpaceX has held talks with EchoStar about buying Boost Mobile, or about getting access to the network Boost leases from AT&T and T-Mobile, The Washington Post reported Monday. Musk spoke to EchoStar chair Charlie Ergen himself, according to the report. Any deal may need the carriers’ consent. EchoStar, which is already selling spectrum to SpaceX, fell 2.4 per cent for the week.
Qualcomm said Wednesday it will supply radio equipment, baseband units and software for Starlink Mobile’s planned U.S. ground network. Deployment across tens of thousands of cell sites starts in 2027. Neither company disclosed terms. SpaceX fell 9.0 per cent on Thursday and rose 8.6 per cent on Friday, which left it down 0.3 per cent for the week at $US 134.27, still below the $US 135 price of its June initial public offering.
Intuitive Machines wins NASA work as Rocket Lab flies its 99th mission
Intuitive Machines said Tuesday that NASA’s Jet Propulsion Laboratory had picked its IM 300 spacecraft platform for FALCON-RADAR, a cloud-observing satellite due to launch no earlier than 2029. The shares rose 6.3 per cent that day but slipped back to a 1.9 per cent loss for the week.
Rocket Lab launched its 99th Electron mission on Monday, a radar satellite for Japan’s iQPS, and fell 3.0 per cent for the week. Planet Labs said Wednesday that Pelican-12, its first satellite able to take 30-centimetre-class images, had returned its first picture, and on Thursday it made its Planet AI app generally available. Its shares lost 6.8 per cent for the week.
Momentus said Tuesday that OQ Technology will fly a 5G payload on its Vigoride-9 mission, due in the fourth quarter of 2027, and its shares rose 5.7 per cent for the week. Among the rest, Virgin Galactic gained 7.4 per cent and Satellogic 4.8 per cent, while Comtech tumbled 11.0 per cent, Sidus Space fell 9.2 per cent to 99 cents and Spire Global lost 2.5 per cent. Iridium, which Rocket Lab has agreed to buy, fell 1.9 per cent.
In all, seven of the 20 rose in a week when the Procure Space ETF fell 3.1 per cent and the S&P 500 lost 2.7 per cent.
OHB lands an ESA contract as Tokyo space stocks tumble
OHB said Wednesday that the European Space Agency had awarded its OHB System subsidiary a €554-million contract, about $872 million, to build the Sentinel-3 Next Generation Topography satellite, with an option for a second. OHB rose 3.1 per cent Wednesday, fell 10.0 per cent on Thursday and ended the week down 14.6 per cent at €191.20, about $300.86. It reports nine-month results Nov. 12.
SES rose 8.4 per cent on Thursday after it reported nine-month results and reiterated its full-year outlook, with a backlog of €10.0 billion, about $15.7 billion. It finished the week up 7.6 per cent at €4.50, about $7.08. Eutelsat edged up 1.1 per cent to €1.82, about $2.86, but Avio fell 9.1 per cent to €28.92, about $45.51.
In Tokyo, which was closed Tuesday for a holiday, Synspective tumbled 18.0 per cent to 1,113 yen, about $9.91. Astroscale lost 14.8 per cent to 959 yen, about $8.53, and ispace fell 9.5 per cent to 335 yen, about $2.98.
Innospace, the South Korean rocket developer listed on the KOSDAQ, said Tuesday its launch service had been added to the government’s list of items foreign defence contractors can buy to meet their offset obligations to Korea, the first time a launch service has made the list. Its shares tumbled 13.1 per cent for the week to 4,260 won, about $4.40. Seraphim Space Investment Trust fell 3.7 per cent to £1.69, about $3.18. Canadian-dollar equivalents use Friday’s exchange rates.
What to watch
- Rocket Lab and AST SpaceMobile report third-quarter results after markets close Nov. 9. Firefly Aerospace, Spire Global and Satellogic follow Nov. 10.
- Intuitive Machines, Virgin Galactic and OHB report Nov. 12.
- SpaceX plans to launch Starship’s 15th flight no earlier than Nov. 13 from Starbase, Texas, pending regulatory approval. It will try to catch both stages, which would be the first time an entire orbital launch system has been recovered after a mission, and will deploy 26 Starlink V3 satellites on Starship’s second orbital flight.
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 Nov. 6, 2026. NSTR figures are from Yahoo Finance.