MDA reports $29.6M Q1 profit, revenue up 32.2 per cent from year ago

Mike Greenley, CEO of MDA Space, joins BNN Bloomberg to discuss the company's earnings and the outlook for the space economy.

TORONTO — MDA Space Ltd. reported $29.6 million in net income for its first quarter as its revenue rose more than 30 per cent compared with a year earlier.

The company says the profit amounted to 22 cents per diluted share for the quarter ended March 31 compared with a profit of $32.9 million or 26 cents per diluted share a year earlier.

On an adjusted basis, MDA says it earned 38 cents per diluted share in its latest quarter, up from an adjusted profit of 30 cents per diluted share in the same quarter last year.

Revenue for the quarter totalled $464.1 million, up from $351.0 million in the first quarter of 2025.

The increase came as satellite systems revenue totalled $313.1 million, up from $222.0 million a year ago, while robotics and space operations revenue amounted to $91.6 million, up from $77.3 million. Geointelligence revenue was $59.4 million, up from $51.7 million.

MDA’s backlog stood at $3.69 billion at March 31.

This report by The Canadian Press was first published May 7, 2026.

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