Telesat Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	388.27	417.96	571.04	704.16	759.17	758.21
Revenue Growth (YoY)	-27.51%	-26.81%	-18.90%	-7.25%	0.13%	-7.59%
Gross Profit	388.27	417.96	571.04	704.16	759.17	758.21
Selling, General & Admin	214.07	211.77	207.77	204.55	258.99	236.95
Depreciation & Amortization Expenses	142.83	148.89	138.61	195.76	203.73	219.76
Other Operating Expenses	447.46	361.17	264.93	-265	-0.01	-107.62
Total Operating Expenses	804.36	721.83	611.31	135.32	462.72	349.09
Operating Income	-416.09	-303.88	-40.27	568.85	296.45	409.12
Interest Income	24.12	26.18	23.31	66.53	23.48	3.42
Interest Expense	-210.96	-217.67	-243.76	-270.35	-221.76	-187.99
Other Non-Operating Income (Expense)	-104.43	-102.23	-54.8	307.84	-128.36	8.86
Total Non-Operating Income (Expense)	-291.27	-293.72	-275.24	104.02	-326.64	-175.72
Pretax Income	-707.36	-597.6	-315.5	672.87	-30.19	233.4
Provision for Income Taxes	-77.65	-67.38	-13.04	89.6	51.41	71.04
Net Income	-185.31	-155.35	-87.72	157.12	-23.76	92.53
Minority Interest in Earnings	-444.4	-374.86	-214.75	426.15	-57.83	69.84
Net Income to Common	-185.31	-155.35	-87.72	157.12	-23.76	92.53
Net Income Growth	-	-	-	-	-	-62.20%
Shares Outstanding (Basic)	15	15	14	13	12,311	12,311
Shares Outstanding (Diluted)	15	15	14	15	12,311	12,311
Shares Change (YoY)	1.26%	5.04%	-8.84%	-99.88%	-	24619.05%
EPS (Basic)	-12.47	-10.61	-6.29	11.71	-1.93	2.05
EPS (Diluted)	-12.52	-10.61	-6.29	11.29	-1.93	1.99
EPS Growth	-	-	-	-	-	-59.55%
Shares Outstanding	15.22	14.84	14.05	13.61	12.81	12.02
Free Cash Flow	-716.35	-698.42	-1,048	43.82	175.05	-18.17
Free Cash Flow Growth	-	-	-	-74.97%	-	-
Free Cash Flow Per Share	-46.86	-47.70	-75.19	2.87	0.01	-0.00
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	-107.17%	-72.71%	-7.05%	80.78%	39.05%	53.96%
Profit Margin	-162.19%	-126.86%	-52.97%	82.83%	-10.75%	21.41%
FCF Margin	-184.50%	-167.10%	-183.53%	6.22%	23.06%	-2.40%
EBITDA	-273.26	-154.98	98.35	764.61	500.19	628.88
EBITDA Margin	-70.38%	-37.08%	17.22%	108.58%	65.89%	82.94%
EBIT	-416.09	-303.88	-40.27	568.85	296.45	409.12
EBIT Margin	-107.17%	-72.71%	-7.05%	80.78%	39.05%	53.96%
Effective Tax Rate	10.98%	11.27%	4.13%	13.32%	-170.30%	30.43%

Updated May 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q