Telesat reports Q1 2026: GEO revenue down 25% YoY; $1.7B debt maturity risk as Lightspeed LEO remains fully funded to 2028
Telesat says its GEO business fell 25% year-over-year in Q1 2026, while legacy declines continue. The operator has sufficient cash to run the business through 2026 but cannot yet refinance $1.7 billion of debt due from December. Telesat reaffirms a fully funded 2028 Lightspeed LEO timeline after Q1 design reviews.