MDA’s CHORUS unveiling
MDA Space unveiled a three-tier software portfolio Wednesday that lets customers search its Earth observation archive and schedule new imagery, install a regional ground station for direct downlink and local processing, and, at the top tier, buy finished intelligence products such as vessel detection and ground-deformation monitoring. The shares rose 4.8 per cent to $42.05, the week’s largest gain among Canadian public companies and one of three that beat the S&P/TSX Composite’s 0.3 per cent advance.
The company, which reported second-quarter revenue of $498.6 million on Aug. 7, is up 57.8 per cent year to date. The portfolio announcement came ahead of the CHORUS constellation’s launch later this year. MDA sits 45 per cent into its 52-week range.
Magellan Aerospace rose 2.9 per cent to $33.52, also beating the TSX, and Calian Group added 1.5 per cent to $80.63. Calian, which reported third-quarter revenue of $230.4 million on Aug. 13, signed a strategic agreement Wednesday with Ukraine’s SkyFall to advance unmanned systems training for Canada, the U.K., NATO and allied forces. The company is up 46.8 per cent year to date and sits 76 per cent into its 52-week range, the closest to a 52-week high on the board.
Lightspeed gets its gateways
Telesat fell 0.7 per cent to $68.51 in a week it signed a global framework agreement with SatPort Infrastructure that lets it commission landing stations for its Lightspeed broadband network anywhere in the world. The deal, announced Tuesday, gives Telesat a capital-efficient way to scale its ground segment without building every gateway itself.
Two days later, Orange switched on the first European ground gateway for Telesat Lightspeed, hosted at Orange’s teleport in Bercenay-en-Othe, France. The gateway is now installed and commissioned, and Orange provides ground connectivity to Telesat’s planned point of presence in Paris. The company, which reported second-quarter revenue of $79.5 million on Aug. 13, is up 73.1 per cent year to date and sits 68 per cent into its 52-week range.
Number of the week
51.4 per cent Intermap Technologies’ shares have lost more than half their value since the start of the year, the worst run on the board. This week’s 10.9 per cent drop took the stock to 90 cents, close to its 52-week low.
The board
| Company | Ticker | Close, Sept. 18 | Week | YTD | 52-week range |
|---|---|---|---|---|---|
| MDA Space | MDA | $42.05 | +4.8% | +57.8% | 45% |
| Magellan Aerospace | MAL | $33.52 | +2.9% | +81.9% | 66% |
| Calian Group | CGY | $80.63 | +1.5% | +46.8% | 76% |
| Baylin Technologies | BYL | $0.23 | +0.0% | -11.5% | 0% |
| Telesat | TSAT | $68.51 | -0.7% | +73.1% | 68% |
| 5N Plus | VNP | $26.39 | -1.5% | +48.9% | 34% |
| Maritime Launch Services | MAXQ | $0.44 | -3.3% | +57.1% | 60% |
| C-COM Satellite Systems | CMI | $0.86 | -3.4% | +6.2% | 24% |
| Intermap Technologies | IMP | $0.90 | -10.9% | -51.4% | 2% |
Intermap falls
Five of nine companies fell. Intermap Technologies dropped 10.9 per cent to 90 cents, the week’s steepest decline, leaving the geospatial intelligence company down 51.4 per cent year to date and sitting 2 per cent into its 52-week range, near the bottom of the board. C-COM Satellite Systems fell 3.4 per cent to 86 cents, Maritime Launch Services declined 3.3 per cent to 44 cents, and 5N Plus slipped 1.5 per cent to $26.39. Baylin Technologies closed unchanged at 23 cents, sitting at the bottom of its 52-week range.
Maritime Launch Services finalized the statement of work and programmatic milestones with Isar Aerospace for a dedicated launch complex at Spaceport Nova Scotia, the company said Monday. The agreement, which satisfies a key condition and moves the project into execution, advances plans for Isar’s Spectrum launch vehicle at the Canso, N.S., site. Maritime Launch, which reported second-quarter revenue of $5.6 million on Aug. 14, is up 57.1 per cent year to date.
Voyager tops U.S. movers
Voyager Technologies led the U.S. names with a 6.2 per cent gain, followed by BlackSky and Virgin Galactic at 5.1 per cent each. BlackSky said Monday its fifth Gen-3 satellite returned first imagery less than 20 hours after liftoff. Rocket Lab added 2.6 per cent in a week it lined up the last of the money for Iridium: a $US 1.94-billion sale of 29.3 million shares at the market, on top of Iridium’s existing $US 1.78-billion term loan, fully funds the roughly $US 8-billion takeover announced June 29 and expected to close in mid-2027.
SpaceX rose 1.0 per cent in a week it launched the classified USSF-259 mission for the U.S. Space Force from Vandenberg on Wednesday, a day after a scrub. Intuitive Machines fell 3.0 per cent, the largest U.S. decline, in a week it said it had completed in-orbit commissioning of the SXM-11 satellite and handed it over to SiriusXM. AST SpaceMobile dropped 2.2 per cent. The S&P 500 fell 0.1 per cent and the Procure Space ETF declined 0.2 per cent.
Index slips as TSX gains
The SpaceQ Canadian Space Index, an equal-weighted editorial measure of Canada’s publicly traded space-economy companies, fell 1.1 per cent to 101.56. The index underperformed the S&P/TSX Composite’s 0.3 per cent gain for the week. Next week’s issue will carry the first chart of the SpaceQ Canadian Space Index.
What to watch
SpaceX’s Starship Flight 14 is now no earlier than Sept. 28, the first attempt to put the upper stage into orbit and the first to carry Starlink satellites, 26 of the new V3 model. No booster or ship catch is planned; the ship is to come down in the Indian Ocean.
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 Sept. 18, 2026.