# MDA Space bets big on growth and ecosystem

> Canada's space tech leader posts 33% revenue growth and launches a venture program to strengthen the country's defence industrial base.
- Title: MDA Space bets big on growth and ecosystem | Shortify
- Summary: Canada's space tech leader posts 33% revenue growth and launches a venture program to strengthen the country's defence industrial base. MDA Space is…
- Keywords: mda space, canada, space technology, defence, earnings, revenue growth, launchpad ventures, satellite manufacturing, backlog, cash flow, MDA, Space
- Source: Alphastreet - Earnings Decoded. Market Intelligence Delivered — https://news.alphastreet.com/mda-space-mda-bets-on-homegrown-innovation-with-new-launchpad-ventures-program
- Author: Newsdesk
- Published: 2026-09-21T13:50:15+00:00
- Read time: 2 min
- Topics: mda space, canada, space technology, defence, earnings, revenue growth, launchpad ventures, satellite manufacturing, backlog, cash flow
## MDA Space posts 33% revenue growth
The Canadian space tech company reported Q2 2026 revenues of $498.6 million, up 33.6% year-over-year, with growth spread across all business segments including satellites, robotics, and geointelligence.
## New Montreal facility doubles capacity
MDA Space opened a high-volume satellite manufacturing facility in Montreal in 2026, doubling production capacity to meet surging demand from government and defence customers.
## Backlog hits 4 billion dollars
MDA Space's order backlog reached $4.0 billion at the end of Q2 2026, up $310 million from the previous quarter, with a $40 billion pipeline including $10 billion in government down-selected opportunities.
## Margins hold steady at 19.3%
Adjusted EBITDA margin reached 19.3% in Q2 2026, within management's full-year guidance of 18% to 20%, showing disciplined cost management despite acquisition integration costs.
## Free cash flow turns negative
Free cash flow was negative $150 million in Q2 2026 as MDA Space invests $225 to $275 million annually in production expansion and chip development, a shift from 2025's positive $165 million.
## LaunchPad Ventures launches ecosystem play
MDA Space launched LaunchPad Ventures in late August 2026 to invest in Canadian space and defence small and medium-sized businesses across 25 focus areas, signalling confidence in market tailwinds.

> unlock, accelerate and strengthen the country's space and defence industrial base
## Balance sheet provides runway
MDA Space held $397.8 million in cash and $245.0 million in long-term debt as of June 30, 2026, resulting in a net cash position of $152.8 million and total liquidity of $1.1 billion.
## Full-year guidance raised
MDA Space raised its 2026 revenue guidance to $1.7 to $1.9 billion and adjusted EBITDA guidance to $320 to $370 million following strong Q2 performance.
## Watch backlog conversion rates
Investors should monitor whether MDA Space converts its $4.0 billion backlog at current rates and whether the Montreal facility ramps production on schedule to support revenue guidance and margin expansion.
## Key takeaway

MDA Space is executing strongly on growth while investing in Canada's broader space and defence ecosystem through a new venture program, but investors should watch cash flow normalization and backlog conversion rates.