Quarterly Results
- Q1 2024
- Q4 2023
- Q3 2023
- Q2 2023
- Q1 2023
- Q4 2022
- Q3 2022
- Q2 2022
- Q1 2022
MDA REPORTS FIRST QUARTER 2024 RESULTS
- Q1 2024 Highlights
- Record backlog of $3.3 billion at quarter end, up 169% YoY
- Healthy top line growth with revenues of $209.1 million, up 3.6% YoY
- Solid profitability with adjusted EBITDA of $42.0 million and adjusted EBITDA margin of 20.1%
- Adjusted net income of $18.1 million and adjusted diluted earnings per share of $0.15
- Rebranded to MDA Space as we continue to lead in a new area of space innovation
- Reaffirmed 2024 full-year financial outlook
BRAMPTON, ON, May 9, 2024 /CNW/ - MDA Space (TSX: MDA), a trusted space mission partner to the rapidly expanding global space industry, today announced its financial results for the first quarter ended March 31, 2024.
“We are off to a solid start in 2024. In Q1, the MDA Space team delivered another quarter of strong performance as we continued to convert our backlog and deliver on our customer commitments,” said Mike Greenley, Chief Executive Officer of MDA Space. “We also grew our book of business in Q1 and secured a number of awards including a contract to deliver the fleet of MQ-9B SkyGuardian Remotely Piloted Aircraft Systems for the Canadian Armed Forces. And subsequent to quarter end, we received a $250 million contract extension from the Canadian Space Agency to continue supporting robotics operations on the International Space Station until its planned retirement in 2030.”
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MDA REPORTS FOURTH QUARTER AND FISCAL 2023 RESULTS
- Solid Q4 2023 performance with revenues of $205.0 million, up 10% YoY, adjusted EBITDA of $42.1 million, up 6% YoY, and adjusted EBITDA margin of 20.5%
- Full year 2023 highlights
- Strong top line growth with revenues of $807.6 million, up 26% YoY
- Solid profitability with adjusted EBITDA of $174.2 million, up 24% YoY(1)
- Robust adjusted EBITDA margin of 21.6%
- Strong business activity with order bookings of $2.5 billion and backlog growing to a record $3.1 billion at year-end, up 125% YoY
- Introduction of 2024 financial outlook with strong growth expected to continue
Brampton, Ontario (February 28, 2024) -- MDA Ltd. (TSX: MDA), a trusted space mission partner to the rapidly expanding global space industry, today announced financial results for the fourth quarter and year ended December 31, 2023.
"In 2023, the MDA team delivered another year of strong growth and execution with revenues up 26% and adjusted EBITDA up 24% on a year over year basis, further solidifying our position as a trusted mission partner and leader in the expanding space industry,” said Mike Greenley, Chief Executive Officer of MDA. “We secured a number of strategic contracts including the Telesat Lightspeed LEO constellation award, valued at $2.1 billion and a $180 million authorization to proceed contract to initiate work on a new Non-Geostationary Orbit satellite constellation, with the full contract expected to be awarded this year. With these awards MDA has now secured three constellation contracts in the past two years, highlighting the strong momentum we are seeing in our Satellite Systems business driven by customer demand for communication satellite constellations."
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MDA REPORTS Third QUARTER 2023 RESULTS
- Strong top line growth with revenues of $204.7 million, up 19% YoY
- Solid profitability with adjusted EBITDA of $42.8 million, up 10% YoY
- Robust adjusted EBITDA margin of 20.9%
- Record backlog of $3.1 billion at quarter end including the recently announced Telesat Lightspeed LEO constellation contract award of $2.1 billion
- Announced and subsequent to quarter end closed acquisition of SatixFy Space Systems UK Ltd., the digital payload division of SatixFy Communications Ltd.
Brampton, Ontario (November 8, 2023) -- MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced its financial results for the third quarter ended September 30, 2023.
“MDA delivered another solid quarter in Q3 showcasing the team’s continued strong execution and the momentum we are seeing in our business and end markets,” said Mike Greenley, Chief Executive Officer of MDA. “We continue to focus on our growth strategy and growing our book of business. In Q3 we announced that MDA was awarded a $2.1 billion contract from Telesat to act as the prime satellite contractor on the Telesat Lightspeed LEO constellation; this is our second prime satellite contract in 18 months and a testament to MDA’s innovative technology and advanced manufacturing capabilities in this market.”
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MDA REPORTS Second QUARTER 2023 RESULTS
- Strong top line growth with revenues of $196.0 million, up 27% YoY
- Solid profitability with adjusted EBITDA of $40.4 million, up 16% YoY
- Robust adjusted EBITDA margin of 20.6%
- Strong operating cash flow of $38.9 million
- Healthy backlog of $1.1 billion at quarter end
Brampton, Ontario (August 11, 2023) -- MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced its financial results for the second quarter ended June 30, 2023.
“Q2 marked another strong quarter for MDA with our team delivering double digit revenue and adjusted EBITDA growth while maintaining solid profitability, strong operating cash flow generation and delivering on our customer commitments,” said Mike Greenley, Chief Executive Officer of MDA. “And this morning we announced that MDA was awarded an approximately $2.1 billion contract from Telesat to act as the prime satellite contractor on the Telesat Lightspeed LEO constellation. This award, MDA’s second selection as prime satellite contractor in 18 months, reflects the ongoing growth in the LEO constellation market to meet increasing demand for space-based connectivity and communication services. Our selection is also a testament to MDA’s innovative technology and manufacturing capabilities in this market. We look forward to working with the Telesat team on this strategic program and to bringing enhanced digital connectivity in Canada and elsewhere.”
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MDA REPORTS FIRST QUARTER 2023 RESULTS
- Strong top line growth with revenues of $201.9 million in Q1 2023, up 57% YoY
- Solid profitability with adjusted EBITDA (excluding non-recurring items) of $48.9 million in Q1 2023, up 77% YoY
- Robust adjusted EBITDA margin of 24.2% in Q1 2023
- Strong operating cash flow of $46 million in Q1 2023, up 212% YoY
- Healthy backlog of $1.2 billion at quarter end
- Reaffirmed 2023 full-year financial outlook
Brampton, Ontario (May 12, 2023) -- MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced its financial results for the first quarter ended March 31, 2023.
“We are off to a solid start in 2023. In Q1, the MDA team delivered another quarter of strong performance demonstrating impressive revenue and EBITDA growth as we convert our backlog and meet customer commitments,” said Mike Greenley, Chief Executive Officer of MDA. “With our backlog at a healthy level following a strong year of contract awards in 2022, our team is laser focused on execution. We continue to see healthy market demand and interest in space technology with both government and commercial customers increasingly recognizing and funding civil and defence programs. We were particularly pleased to see the Government of Canada recently commit to $2.5 billion in new space spending and look forward to working with the Canadian Space Agency and other organizations to realize these new missions.”
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MDA REPORTS FOURTH QUARTER 2022 RESULTS
- Strong Q4 2022 performance with revenues of $186.1 million, up 61% YoY, adjusted EBITDA of $39.9 million, up 49% YoY, and adjusted EBITDA margin of 21.4%
- Full year 2022 highlights
- Strong top line growth with revenues of $641.2 million, up 34% YoY
- Solid profitability with adjusted EBITDA (excluding non-recurring items) of $141.1 million, up 26% YoY
- Healthy adjusted EBITDA margin (excluding non-recurring items) of 22.0%
- Robust business activity with order bookings of $1.2 billion and backlog growing to $1.4 billion, up 59% YoY
- Introduction of 2023 financial outlook
Brampton, Ontario (March 23, 2023) -- MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced financial results for the fourth quarter and year ended December 31, 2022.
“For MDA, 2022 was a year of strong growth that showcased our ability to leverage our unique competitive position in multiple growing space markets to expand our customer and geographic footprint,” said Mike Greenley, Chief Executive Officer of MDA.
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MDA REPORTS THIRD QUARTER 2022 RESULTS
- Strong top line growth with revenues of $172.0 million in Q3 2022, up 55% YoY
- Solid profitability with adjusted EBITDA of $38.8 million in Q3 2022, up 22% YoY
- Robust adjusted EBITDA margin of 22.6% in Q3 2022
- Healthy backlog of $1.4 billion at quarter end, up 70% YoY
- Updated 2022 full-year financial outlook
- Reaffirmed revenue range of $630-$650 million
- Raised adjusted EBITDA range to $130-$135 million (from $120-$130 million prior)
- Narrowed capital expenditures range to $180-$195 million (from $180-$220 million prior)
BRAMPTON, ON, (November 11, 2022) -- MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced its financial results for the third quarter ended September 30, 2022.
“In Q3, focused execution by the MDA team delivered another quarter of strong performance with impressive revenue growth across our businesses and solid profitability. In line with our expectations, we are seeing steady progression in our top and bottom line as we convert our healthy backlog by meeting customer commitments,” said Mike Greenley, Chief Executive Officer of MDA.
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MDA REPORTS SECOND QUARTER 2022 RESULTS
- Robust revenue growth with revenues of $154.7 million in Q2, up 22% YoY
- Strong backlog of $1.52 billion at quarter end, up 138% YoY
- Solid profitability with EBITDA of $31.3 million (20.2% margin) and adjusted EBITDA of $34.7 million (22.4% margin) in Q2
- Completed redemption of $150 million second lien notes and refinancing of senior revolving credit facility, meaningfully reducing annual interest costs
- 2022 full-year revenue and adjusted EBITDA outlook revised reflecting delayed start of Telesat Lightspeed program and slower ramp-up on some government programs
- 2022 revenues now expected to grow ~30% – 35% YoY; reconfirm full-year adjusted EBITDA margin target of 19% – 20%
- Q3 2022 revenues expected to grow ~40% – 50% YoY
BRAMPTON, ON, Aug. 12, 2022 /CNW/ - MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced its financial results for the second quarter ended June 30, 2022.
"Our team delivered a strong performance in the second quarter driven by the steady conversion of our healthy backlog and laser focus on operational execution to meet customer commitments," said Mike Greenley, Chief Executive Officer of MDA. "In line with our strategy, we are expanding our market share and engagement with existing and new customers, including awards to support work on the US Space Development Agency's Tranche 1 Transport Layer LEO constellation, and a contract from Axiom Space which represents the first commercial sale of Canadarm3 technology. These contracts are early and important strategic footholds for us."
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MDA REPORTS FIRST QUARTER 2022 RESULTS
- Strong business activity with backlog growing to $1.52 billion, up 122% YoY
- Steady revenue growth with revenues of $128.4 million, up 4% YoY
- Solid profitability with EBITDA of $35.6 million (27.7% margin) and adjusted EBITDA excluding non-recurring items of $27.7 million (21.6% margin)
- Key awards include Globalstar's LEO constellation and Phase B of Canadarm3
- Subsequent to quarter-end, MDA announced the redemption of its $150 million second lien notes and refinancing of its revolving credit facility
BRAMPTON, ON, May 11, 2022 /CNW/ - MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced financial results for the first quarter ended March 31, 2022 demonstrating strong order bookings, growing backlog and solid profitability.
"With triple digit year over year growth in backlog, strong margins, and healthy operating cash flow in the first quarter, MDA is building momentum with our full focus on delivering for customers and capitalizing on new opportunities" said Mike Greenley, Chief Executive Officer of MDA. "We continue to execute on our strategy and gain market traction with several sizeable wins across the business, including Globalstar's LEO constellation and Phase B of Canadarm3. As we enter our second year as a public company, we are energized by the recent progress and highly focused on growing the business and strengthening our position in core markets."
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FINANCIAL SUMMARY TABLE
| 2024 | 2023 | 2022 | 2021 | 2020 | Empty | |
|---|---|---|---|---|---|---|
| Press Release | Q1 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | |
| MD&A | Q1 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | |
| Financial Statements | Q1 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | |
| Earnings Presentation | Q1 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | |
| Earnings Webcast | Q1 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | |
| Earnings Transcript | Q1 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | Q1Q2Q3Q4 | |
| Annual Reports | AIF AR | AIF AR | AIF AR | Supplementary Data |