Telesat's Q2 net loss widens to $559M as GEO revenue slides

Telesat reported Q2 2026 results on August 13: consolidated revenue fell 25% year over year to CAD $79.5 million and adjusted EBITDA dropped 62% to $22 million, while net loss widened to $559 million from a $76 million gain a year earlier, driven mainly by non-cash losses on Lightspeed financing warrants and foreign-exchange effects on USD-denominated debt. Management said talks with lenders over the $1.7 billion of Telesat Canada debt maturing in December 2026 are continuing, with no deal yet reached.