An update from Telesat Corp ( (TSE:TSAT) ) is now available.
Telesat Corp announced its financial results for the year ending December 31, 2024, reporting a 19% decrease in consolidated revenue to $571 million. The company highlighted significant progress in its Telesat Lightspeed program, including securing $2.54 billion in loan financing from the Canadian and Quebec governments. Despite a challenging year with reduced revenues from various sectors and a net loss of $302 million, Telesat remains focused on expanding its LEO satellite operations and mitigating revenue declines in its GEO business. The retirement of CFO Andrew Browne was also announced, with a search for his successor underway.
More about Telesat Corp
Telesat Corp is a leading global satellite operator, known for its innovative satellite communications services. The company focuses on providing satellite-based solutions, including its advanced Low Earth Orbit (LEO) satellite program, Telesat Lightspeed, which aims to enhance connectivity and bridge the digital divide.
YTD Price Performance: 22.56%
Average Trading Volume: 72,011
Technical Sentiment Signal: Sell
Current Market Cap: $285.4M
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