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High materiality8/10

MDA Space Q2 2026 shows backlog momentum; TAM expansion via acquisitions

Aug 7, 2026, 5:47 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Strong Q2 growth metrics, backlog visibility, and two strategic acquisitions improve growth trajectory and optionality; near-term sentiment may be tempered by IPO dilution, but long-term value drivers remain.

AI summary

What happened, with direct paths to the underlying reporting

MDA Space reported Q2 2026 results with backlog of $4.003B and revenue of $498.6M, up 34% YoY. Adjusted EBITDA was $96.3M (19.3% margin); net cash stood at $153M amid a US IPO that expanded the share base. The company also updated guidance and announced the acquisitions of Blue Canyon Technologies and CLS, signaling a larger addressable market and stronger global reach.

Backlog at June 30, 2026: $4.003B, up $310M QoQ.
Q2 revenue: $498.6M, +34% YoY; Adj EBITDA $96.3M, 19.3% margin.
Net cash $153M; US IPO boosted cash and diluted shares.
2026 outlook narrowed: revenue $1.8–$1.9B; EBITDA $330–$370M; capex $225–$275M.
Acquisitions of Blue Canyon Technologies and CLS expand TAM; CHORUS momentum.

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