{"id":49217,"date":"2025-05-09T01:19:21","date_gmt":"2025-05-08T17:19:21","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/mda-space-reassures-investors-about-canadarm3-points-to-constellation-opportunities\/"},"modified":"2025-05-09T01:19:21","modified_gmt":"2025-05-08T17:19:21","slug":"mda-space-reassures-investors-about-canadarm3-points-to-constellation-opportunities","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/mda-space-reassures-investors-about-canadarm3-points-to-constellation-opportunities\/","title":{"rendered":"MDA Space Reassures Investors About Canadarm3, Points to Constellation Opportunities"},"content":{"rendered":"<\/p>\n

MDA Space<\/b> grew revenue 68% year-over-year in the first quarter of 2025 as the manufacturer ramps up work on satellite constellation projects for Telesat<\/strong> and Globalstar<\/strong>. CEO Mike Greenley addressed the tariff situation and further constellation opportunities in an investor call on Thursday, while looking to reassure investors about MDA Space\u2019s Canadarm3 contract. <\/p>\n

President Trump\u2019s budget proposal for NASA released on May 2 looks to end the Gateway program, which is part of the Artemis program and intended to be a long-term orbit outpost of the Moon. MDA Space is under contract with the Canadian Space Agency to build Canadarm3, the successor to the Canadarm2 robotic arm on the ISS, which will be hosted on the Gateway. <\/p>\n

MDA Space\u2019s stock dropped 18% last Friday after the \u201cskinny\u201d budget was released, but has since recovered some of the dip. <\/p>\n

Greenley emphasized that MDA\u2019s contract is with the Canadian Space Agency, not NASA, and there has been no change to MDA Space\u2019s contract. He also emphasized this is part of the budget process and not a final budget for NASA. MDA Space is progressing as normal on the program. <\/p>\n

\u201cWe will continue to work fully through 2025 I would expect, and I would expect there would be significant work beyond that whenever the budget is done,\u201d Greenly said. \u201cI know that all the parties are working on what different purposes on the Moon or commercially, [that] Canadarm3 can service in the future. We are a very, very long way away from talking about any changes to our contract structure.\u201d <\/p>\n

He added that MDA Space is also bidding on a number of commercial space stations for similar robotic technologies, and looking at other opportunities like lunar mobility programs, orbit operations, and space exploration opportunities.<\/p>\n

Demand for Satellite Programs and Tariff Impact <\/b><\/h3>\n

The company\u2019s Satellite Systems segment more than doubled revenue, with 55% year-over-year growth to $222 million Canadian dollars ($159 million) with the ramp up of the Telesat Lightspeed program and the Globalstar next-generation LEO constellation program. <\/p>\n

Meanwhile, the Geointelligence segment revenue was essentially flat at CA$51.7 million ($37 million), and the Robotics & Space Operations segment grew 9.5% to CA$77.3 million ($55.5 million), with the ramp up of the Canadarm3 program. <\/p>\n

Greenely addressed demand for satellite systems, saying he is seeing interest in both broadband and direct-to-device, but there is more momentum in direct-to-device constellations. <\/p>\n

\u201cWe have a very strong pipeline. We\u2019re in a very good position with a number of additional constellations, and all that remains in place,\u201d he said. \u201cI would say all of the premiere constellation projects that are available for competition would probably be talking to MDA Space in one way or another \u2026 We are not losing any competitions.\u201d <\/p>\n

Tariffs have become a bigger subject in contract negotiations, but Greenley said MDA Space sees the U.S. tariff situation as \u201cvery manageable.\u201d <\/p>\n

He said a preliminary analysis suggests that most of the products MDA Space exports, including finished satellites, are largely compliant within the United States\u2013Mexico\u2013Canada Agreement. <\/p>\n

A large portion of the company\u2019s backlog and supply chain is based outside of the U.S. Greenley said 80% of the company\u2019s backlog is outside of the U.S. A little over 25% of the company\u2019s supply chain for satellite manufacturing is based in the U.S. <\/p>\n

Backlog at the end of March was CA$4.8 billion ($3.45 million), an increase of CA$1.5 billion year-over-year, due to the Globalstar order. <\/p>\n

MDA Space reaffirmed its full year financial outlook, expecting full year revenues to be CA$1.5 billion to CA$1.65 billion, which would be 45% year-over-year growth at the mid-point. <\/p>\n","protected":false},"excerpt":{"rendered":"

MDA Space grew revenue 68% year-over-year in the first quarter of 2025 as the manufacturer ramps up work on satellite constellation projects for Telesat and Globalstar. CEO Mike Greenley addressed the tariff situation and further constellation opportunities in an investor call on Thursday, while looking to reassure investors about MDA Space\u2019s Canadarm3 contract.  President Trump\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":49218,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-49217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/49217"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=49217"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/49217\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/49218"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=49217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=49217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=49217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}