- MDA Space (TSX:MDA) is debuting its new Skymaker product line, which offers a full suite of scalable and modular space robotics for applications of any size
- Skymaker is based on the company’s Canadarm technology, which has been servicing space missions since 1981, and whose second generation was famously installed by astronaut Chris Hadfield
- MDA has built a more than 55-year track record in robotics, satellite systems and geointelligence for the global space industry across more than 450 missions
- MDA stock has added 106.28 per cent year-over-year, but is down by 17.47 per cent since 2021
MDA Space (TSX:MDA), a leading technology provider to the global space industry, is debuting its new Skymaker product line, which offers a full suite of scalable and modular space robotics for applications of any size.
Skymaker – derived from the company’s famous Canadarm technology, now in its third generation – provides access to the world’s most flight-tested and proven space robotics, and can be applied to everything from lunar surface rovers and landers, to satellite servicing in all orbits, to in-space assembly and manufacturing.
Key benefits for space industry ventures include:
- Enhanced efficiency and flexibility thanks to a wide range of products enabling more tailored solutions
- More attractive mission economics thanks to economy-of-scale pricing regardless of size or application
- Expedited go-to-market strategies thanks to Skymaker’s modularity, long-term product roadmaps and optimized manufacturing and production capacity
- Full-service operations at reduced costs through MDA Space’s state-of-the-art commercial mission control centre
Investors can learn more about Skymaker by visiting MDA Space at the Space Foundation’s 39th Space Symposium conference in Colorado from April 8-11, 2024.
MDA’s financial performance
Since completing its initial public offering and listing its shares on the Toronto Stock Exchange on April 7, 2021, MDA has built a track record of exponentially increasing profitability.
The company has grown net income by 16.8 times from C$2.90 million in 2021 to C$48.80 million in 2023, and expects to build upon this momentum with C$950 million-C$1.05 billion in revenue in 2024, approximately 25 per cent above the midpoint of guidance for 2023, with adjusted EBITDA of C$190 million-C$210 million (19-20 per cent margin).
MDA is projecting capital expenditures of C$210 million-C$230 million in 2024 as it pursues numerous high-potential growth initiatives, including developing commercial products based on its Canadarm3 technology.
Management insights
“To achieve mission success in the commercial space age, you need the confidence to move boldly and quickly, and that starts with choosing a mission partner with capabilities and a track record you can trust,” Mike Greenley, MDA’s chief executive officer, said in a statement. “MDA Space has set the global standard in human-rated space robotics for more than 40 years. With MDA Skymaker, we are bringing to market the next generation of our industry-leading space robotics, built on the foundation of the most technically advanced robotics solutions ever operated in space, in an efficient, adaptable and highly accessible kit.”
About MDA Space
MDA has built a more than 55-year track record in robotics, satellite systems and geointelligence for the global space industry across more than 450 missions.
MDA stock (TSX:MDA) is down by 0.34 per cent, trading at C$14.46 per share as of 9:48 am ET. The stock has added 106.28 per cent year-over-year, but is down by 17.47 per cent since 2021.
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