MDA Space profit and revenue rally 32% as satellite backlog grows

MDA Space (NYSE:MDA) delivered a robust start to 2026, reporting a uniform 32% year-over-year increase across its primary financial performance indicators.

The Brampton, Ontario-based space technology leader posted total revenue of CA$464.1 million for the quarter ended March 31, 2026, driven by high-volume manufacturing in its satellite systems unit and the steady advancement of global robotics programs.

The company’s bottom-line performance mirrored its top-line expansion, with both adjusted EBITDA and adjusted net income rising 32% to CA$90.6 million and CA$50.7 million, respectively.

A significant pillar of MDA’s forward-looking stability remains its substantial order book.

The company reported a backlog of CA$3.7 billion as of March 31, 2026, providing a high degree of revenue visibility for the remainder of the fiscal year and beyond.

This backlog reflects a diversified portfolio of contracts ranging from the CHORUS Earth observation constellation to the continued development of the Canadarm3 for the Lunar Gateway.

Financially, MDA remains in a highly liquid position to support its capital-intensive growth initiatives.

The company reported net cash of CA$299.3 million and total liquidity of CA$1.2 billion at the end of the quarter.

This capital strength is essential as the company navigates its 2026 investment cycle, which includes significant capital expenditures aimed at expanding its production capabilities.

In light of the strong quarterly performance, management reaffirmed its full-year 2026 financial guidance.

The company continues to project annual revenues between CA$1.7 billion and CA$1.9 billion, with adjusted EBITDA expected to fall within the CA$320 million to CA$370 million range.