MDA Space revenue advances to C$498.1 million as adjusted EBITDA rises 15.9%

MDA Space (NYSE:MDA) reported third-quarter 2026 revenue of C$498.1 million, up 21.5% year over year, while adjusted EBITDA increased 15.9% to C$96 million.

MDA Space's adjusted net income increased 26.1% to C$60.4 million, while adjusted diluted earnings per share remained C$0.37.

Adjusted EBITDA margin declined to 19.3% from 20.2% a year earlier.

Operating cash flow reached C$106.2 million and free cash flow totalled C$61.6 million, while backlog stood at C$3.949 billion at September 30, down C$443.7 million year over year.

MDA Space raised its 2026 revenue forecast to C$1.90 billion–C$1.95 billion and adjusted EBITDA guidance to C$355 million–C$375 million, while retaining its neutral-to-negative free cash flow outlook.

MDA Space develops satellite systems, robotics and space infrastructure, and geointelligence technologies for commercial, government and defence customers, with operations supporting satellite communications, Earth observation and space exploration.

The company is also pursuing acquisitions of Communications & Logistics Solutions (CLS) and Blue Canyon Technologies, with C$1.328 billion in quarter-end net cash available to support the proposed transactions and its broader expansion strategy.