Telesat Corporation reported significant financial deterioration for the nine months ended September 30, 2025 (9M 2025), swinging to a Net Loss of $97.0M from a Net Income of $144.8M in the prior year. Revenue contracted sharply to $323.9M (down 26.9% YoY). The loss was driven by a $109.8M loss on fair value changes of financing warrants, surge in amortization expense, and significant foreign exchange losses.
Key Financial & Operational Changes:
- Accounting Change: Effective January 1, 2025, GEO orbital slots were reclassified from indefinite life to finite-life assets, resulti