Telesat Moves Forward with Lightspeed Spending in Q1 Results

FILE PHOTO - Telesat Contracts MDA as Prime Satellite Manufacturer for the Telesat Lightspeed constellation. Image credit: Telesat.

Telesat officials said the company will meet its 2024 guidance and continue spending on Lightspeed after releasing first-quarter results on Friday (May 10).

That said, the company said it will need to maximize its EBITDA and cash flow "by seeking to mitigate anticipated revenue declines and rigorously manage our legacy cost structure" in its geostationary business, officials warned in the earnings statement. But as a phone call with investors showed, Telesat still believes that Lightspeed will lift that issue in the coming years.

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About Elizabeth Howell

Is SpaceQ's Associate Editor as well as a business and science reporter, researcher and consultant. She recently received her Ph.D. from the University of North Dakota and is communications Instructor instructor at Algonquin College.