Founded in 1969, MDA Space is Canada's largest space technology developer and manufacturer, with a workforce of over 3,000+ in Canada, the US and the UK.


Quarterly 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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