Magellan Aerospace reported on Tuesday that its third-quarter net income rose 57.7 per cent to $20.0 million, on revenue up 17.6 per cent to $300.6 million, and its shares jumped 13.0 per cent the next day. They gave back some of that gain on Thursday and Friday but still finished the week up 8.4 per cent at $34.23.
NorthStar Earth & Space went the other way, falling 36.7 per cent to $US 2.31 on NYSE American in the week it reported its first results as a public company. Its third-quarter revenue rose to $17.2 million from $1.4 million a year earlier, and it kept its forecast of $41 million for 2026, but most of the selling had come before those numbers were out.
For the week, the SpaceQ Canadian Space Index rose 4.1 per cent to 99.54, while the S&P/TSX Composite gained 0.9 per cent. The index rose 5.1 per cent on Monday, when markets rallied on falling oil prices, gave back 3.0 per cent on Thursday as MDA Space, Telesat and Magellan each fell more than 5 per cent, and recovered 2.5 per cent on Friday. Telesat and Magellan each added about a point, but Baylin Technologies, up just half a cent for the week, added the most, 1.7 points. Because the index is recalculated from each day’s percentage moves, Baylin’s 40 per cent rebound from 10 cents on Friday counted for more than its 32 per cent drop on Wednesday.
The board
| Company | Ticker | Close, Nov. 13 | Week | YTD | 52-week range |
|---|---|---|---|---|---|
| Telesat | TSAT | $64.71 | +9.9% | +63.5% | 61% |
| Magellan Aerospace | MAL | $34.23 | +8.4% | +85.8% | 68% |
| Baylin Technologies | BYL | $0.14 | +3.7% | -46.2% | 15% |
| MDA Space | MDA | $41.25 | +2.7% | +54.8% | 43% |
| Calian Group | CGY | $85.55 | +0.7% | +55.7% | 87% |
| 5N Plus | VNP | $33.71 | +0.5% | +90.2% | 54% |
| C-COM Satellite Systems | CMI | $0.84 | 0.0% | +3.7% | 16% |
| Intermap Technologies | IMP | $0.76 | -1.3% | -58.9% | 0% |
| Maritime Launch Services | MAXQ | $0.435 | -2.2% | +55.4% | 47% |
Magellan’s profit rises 57.7 per cent
Magellan’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a measure of operating profit, rose 29.4 per cent to $38.5 million. Its Middletown subsidiary in the United States is still working through the Chapter 11 bankruptcy protection it sought in July, and Magellan said the outcome of that process is uncertain. The company also declared its quarterly dividend of five cents a share.
Magellan has gained 85.8 per cent since January, second on the board only to 5N Plus, which edged up 0.5 per cent this week to $33.71 and is up 90.2 per cent for the year.
Telesat climbs and MDA’s Globalstar satellites pass their first tests
Telesat rose 9.9 per cent to $64.71, the board’s biggest gain for the week. It climbed 8.6 per cent on Monday and 5.2 per cent on Wednesday, then fell 6.5 per cent on Thursday. With its third-quarter results, Telesat said it still has to refinance $2.4 billion of debt in its older geostationary satellite business, which starts coming due in December.
MDA Space said on Tuesday that the first eight satellites it delivered for Globalstar’s 2-R mission have passed initial functional tests in orbit. Its shares rose 8.1 per cent on Monday and fell 5.5 per cent on Thursday, ending the week up 2.7 per cent at $41.25. Calian Group edged up 0.7 per cent to $85.55.
Maritime Launch plans a share consolidation and Baylin pulls its forecast
Maritime Launch Services reported third-quarter revenue of $5.6 million on Friday, level with the second quarter, and net income of $3.5 million. It also plans to ask shareholders early next year to approve a share consolidation, and a day earlier it named Sarah McLean chief operating officer. Its shares fell one cent, or 2.2 per cent, to 43.5 cents. Intermap Technologies lost one cent, or 1.3 per cent, to 76 cents, and C-COM Satellite Systems was unchanged at 84 cents, with its last trade on Wednesday.
Baylin Technologies reported its third-quarter results on Tuesday, withdrew its 2026 forecast and said its lender will not let it make payments of about $10.6 million due Nov. 15 and $2.7 million due Dec. 15 to the former owners of Kaelus, the Swedish radio equipment maker it bought in May. Revenue more than doubled to $35.3 million. The shares fell five cents, or 32.3 per cent, to 10.5 cents on Wednesday and closed at 10 cents on Thursday, a new one-year low. On Friday, when more than five million shares changed hands, they rose four cents, or 40 per cent, to finish the week up half a cent, or 3.7 per cent, at 14 cents.
Number of the week: $41 million
NorthStar Earth & Space’s revenue forecast for 2026, which it repeated Thursday with its first results as a public company. That would be almost four times its 2025 revenue of $10.6 million, yet its shares fell 36.7 per cent this week.
NorthStar falls 36.7 per cent in New York
NorthStar reported on Thursday third-quarter net income of $7.7 million, against a $6.2 million loss a year earlier. The quarter ended before it completed its merger with Viking Acquisition Corp. I on Oct. 1. NorthStar also said it has signed an agreement to host its space-surveillance sensors on Kepler Communications’ data relay satellites. Its shares had already fallen 22.8 per cent by Wednesday’s close, before the report, and lost another 7.5 per cent on Thursday and 11.3 per cent on Friday. NorthStar has until Nov. 30 to meet the conditions of its approval to list in Toronto.
LUNR Aerospace, a Toronto startup that wants to launch small satellites to orbit by 2029 and listed on the Canadian Securities Exchange on Oct. 27, rose 66.7 per cent to $4.00 on Monday, then fell back to close the week at $2.60, up 8.3 per cent. About 60,000 shares traded all week.
The U.S. board
| Company | Ticker | Close, Nov. 13 ($US) | Week |
|---|---|---|---|
| Intuitive Machines | LUNR | $13.00 | +24.2% |
| Firefly Aerospace | FLY | $25.21 | +21.4% |
| Rocket Lab | RKLB | $61.53 | +15.9% |
| Voyager Technologies | VOYG | $27.04 | +12.8% |
| BlackSky | BKSY | $23.80 | +11.6% |
| Planet Labs | PL | $13.81 | +10.0% |
| Redwire | RDW | $7.73 | +7.2% |
| Spire Global | SPIR | $9.21 | +6.5% |
| Comtech | CMTL | $1.20 | +6.2% |
| Viasat | VSAT | $67.72 | +5.9% |
| EchoStar | ECHO | $100.00 | +5.7% |
| Iridium | IRDM | $45.87 | +4.2% |
| SpaceX | SPCX | $139.11 | +3.6% |
| Globalstar | GSAT | $86.29 | +2.3% |
| AST SpaceMobile | ASTS | $32.60 | +0.8% |
| Sidus Space | SIDU | $0.94 | -5.1% |
| Satellogic | SATL | $3.30 | -5.2% |
| Karman Space & Defense | KRMN | $40.66 | -10.9% |
| Momentus | MNTS | $1.80 | -12.2% |
| Virgin Galactic | SPCE | $1.84 | -33.6% |
Rocket Lab sells eight more Neutron launches
Rocket Lab reported record third-quarter revenue of $US 267.8 million on Monday, up 73 per cent, and said it had sold eight more launches of Neutron, the reusable rocket whose first flight it has moved into 2027, for more than $US 515 million. Its backlog rose to $US 3.57 billion. The shares rose 10.9 per cent on Monday, before the results, and 6.5 per cent on Tuesday, ending the week up 15.9 per cent.
AST SpaceMobile reported third-quarter revenue of $US 42.3 million the same day and said Japan’s Ministry of Internal Affairs and Communications will put about $US 1 billion toward J-LEO, a constellation AST is building with Rakuten. AST rose 14.1 per cent on Monday, gave nearly all of it back over the rest of the week and finished up 0.8 per cent.
Three of NASA’s new lunar contractors post double-digit gains
NASA named eight companies on Saturday, Nov. 7, to compete for a decade of lunar cargo deliveries under CLPS 2, a contract with a combined ceiling of $US 10 billion. Three of them are on the U.S. board, and all three rose by double digits on Monday: Firefly Aerospace by 17.1 per cent, Voyager Technologies by 16.3 per cent and Intuitive Machines by 15.0 per cent.
Intuitive Machines added 7.0 per cent on Thursday after it reported record third-quarter revenue of $US 269.3 million and forecast $US 920 million to $US 950 million for the year. Its 24.2 per cent gain for the week was the best among the 20 U.S. companies. Firefly reported on Tuesday that third-quarter revenue rose 259 per cent to $US 110.7 million and that its backlog reached a record $US 1.7 billion. It finished the week up 21.4 per cent, and Voyager gained 12.8 per cent.
Virgin Galactic plunges after its third-quarter report
Virgin Galactic reported after Thursday’s close that it expects its first commercial spaceflight early in the second quarter of 2027, with the first glide flight of its lead spaceship, Apeiron, in January. It ended September with $US 184 million in cash and signed an agreement with Jefferies to sell up to $US 250 million of shares on the open market. The shares plunged 31.1 per cent on Friday to $US 1.84, and their 33.6 per cent drop for the week was the steepest among the 20.
Viasat wins NASA relay work and Planet books Stoke
Viasat said on Monday that NASA had picked it as one of three companies for the first phase of NEXUS, a program to develop commercial Ka-band relay satellites to take over from NASA’s own relay fleet. The contract has a maximum value of $US 460.9 million. Viasat rose 16.3 per cent that day and 5.9 per cent for the week. Planet Labs signed a multi-launch agreement with Stoke Space the same day, rose 14.5 per cent and finished the week up 10.0 per cent.
Satellogic reported on Tuesday that third-quarter revenue rose 342 per cent to a record $US 16.0 million. After the quarter ended, it agreed to sell three satellites already in orbit for about $US 37 million. Its shares fell 5.2 per cent. Spire Global reported that third-quarter revenue rose 42 per cent to $US 18.0 million, and its shares gained 6.5 per cent.
SpaceX rises before Starship’s double-catch attempt
SpaceX rose 5.8 per cent on Monday and 3.6 per cent for the week, to $US 139.11. After Friday’s close it launched Starship’s 15th flight, its first attempt to catch both stages, the Super Heavy booster and the Starship upper stage, with the launch tower. SpaceX called off the booster catch and diverted the booster to the Gulf of Mexico, where it exploded just before reaching the water. On Saturday, more than 22 hours after liftoff, the tower caught the upper stage, Ship 42, the first time a Starship upper stage has been recovered.
Among the rest, BlackSky gained 11.6 per cent and Redwire 7.2 per cent. NASA chose Redwire on Saturday, Nov. 7, to supply power generation for a small solar tower on the Moon. Comtech rose 6.2 per cent to $US 1.20, EchoStar 5.7 per cent and Globalstar 2.3 per cent, while Iridium, which Rocket Lab has agreed to buy, gained 4.2 per cent. On the way down, Momentus fell 12.2 per cent and Karman Space & Defense lost 10.9 per cent, including 9.4 per cent on Thursday. Sidus Space fell five cents, or 5.1 per cent, to 94 cents.
In all, 15 of the 20 rose in a week when the Procure Space ETF gained 4.3 per cent and the S&P 500 rose 2.5 per cent.
OHB falls after its nine-month results and Innospace surges
OHB fell 8.9 per cent on Thursday after reporting its nine-month results. Total operating performance, its main measure of sales, rose 10 per cent to €946.5 million, and its order backlog stood at €3.94 billion, about $6.2 billion, but net profit fell 22 per cent to €19.1 million. It kept its forecast for the year. The shares lost another 8.1 per cent on Friday and ended the week down 7.4 per cent at €177.00, about $278.39.
Avio gained 14.0 per cent to €32.97, about $51.86, including 7.7 per cent on Monday. On Wednesday it reported that nine-month revenue rose 16.7 per cent to €409.7 million, about $644 million, while its order backlog fell 8 per cent from December, to €1.99 billion. SES rose 1.4 per cent to €4.56, about $7.17, and Eutelsat fell 4.1 per cent to €1.75, about $2.74.
Innospace, the South Korean rocket developer that has until December to turn its letter of intent with Maritime Launch into a formal agreement to fly from Spaceport Nova Scotia, surged 43.0 per cent to 6,090 won, about $6.51. In Tokyo, ispace, whose U.S. arm was among NASA’s CLPS 2 picks, rose 9.6 per cent to 367 yen, about $3.28. Synspective gained 5.8 per cent to 1,177 yen, about $10.52, and Astroscale 2.0 per cent to 978 yen, about $8.74. Seraphim Space Investment Trust rose 5.3 per cent to £1.78, about $3.35. Canadian-dollar equivalents use Friday’s exchange rates.
What to watch
- SpaceX’s shares on Monday, Nov. 16, their first trading day since the launch tower caught Starship’s upper stage.
- Baylin Technologies and the former owners of Kaelus, after Baylin’s lender barred it from making the $10.6 million payment due Nov. 15. A further $2.7 million is due Dec. 15.
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.
Sources: Yahoo Finance Canada and TMX Money. Closes for Baylin Technologies, C-COM Satellite Systems, Intermap Technologies and Maritime Launch Services are TMX’s official closes. Figures are as of the close of Nov. 13, 2026. NSTR and LUNR Aerospace figures are from Yahoo Finance.