MDA Space Q3 revenue climbs 22% to US$365.2M, lifts 2026 outlook
What's the deal? MDA SpaceDealroom has a profile for this one. Try Dealroom → reported third-quarter 2026 revenue of US$365.3M, up 22% year over year, and raised its full-year 2026 guidance. The Canadian space-technology company also posted adjusted net income of US$44.3M, up 26%.
What does MDA do? Founded in 1969, it develops satellite systems, robotics, and geointelligence technologies for commercial, government, and defence customers. It now employs more than 3,000 people across Canada, the US, and the UK.
By the numbers: Adjusted EBITDA rose 16% to US$70.4M, though the margin slipped to 19.3% from 20.2% a year earlier. Operating cash flow reached US$77.9M, and the company ended the quarter with US$953.3M in net cash.
Why now? Growth was led by Satellite Systems, up 26% as work on the Telesat LightspeedDealroom has a profile for this one. Try Dealroom → program ramped. MDA expanded that program by US$347.6M in August, adding 27 satellites.
MDA raised its 2026 revenue guidance to US$1.39B–US$1.43B and adjusted EBITDA guidance to US$260.3M–US$275M.
What's the endgame? The company is pursuing acquisitions of Blue Canyon TechnologiesDealroom has a profile for this one. Try Dealroom → and Communications & Logistics Solutions (CLS), which would widen its US spacecraft and European Earth-observation reach. Neither deal is reflected in the guidance, and both still require approvals.
What could go wrong? Backlog stood at US$2.86B at quarter-end, down from US$3.23B a year earlier. That makes the quarter a story of execution rather than a broader backlog build, and the pending acquisitions carry financing and integration risk.
The signal: Recent wins — including work on Europe's IRIS² constellation and a Japanese defence-communications satellite — show MDA's demand extending beyond its core Canadian programs. "We are building momentum through strong order activity," said chief executive officer Mike Greenley.
Read more: mda-en.investorroom.com
Image credit: NASA Goddard Photo and Video
