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Chaque analyse que je poste ici, c’est 10% du travail réel.
Les 90% restants, valorisation complète, red flags, scénarios, watchlist, sont sur Substack.
Lien en bio. ⬆️
Anton | Specter retweeted
Strong earnings from $MDA.TO this week.
- They upgraded their 2026 guidance to 18% revenue growth (previously 10 ---> 13%).
- This puts them at 14.5x 2026 EBITDA and ~13x 2027
Other bits:
1. The two acquisitions wrap up in Q4/Q1. So revenue grows by 40-50% next year even with 10% organic growth.
2. Clear visibility into FY27 and FY28. Even as Globalstar winds down (I think they get the renewal), we should see greater engagement from Canada, EU, and Japan.
3. Personally, I'm very very excited as MDA Chorus and satellite-as-a-service that's launching this year. High margin potential.
4. I'd like to see them make more progress on margins. 18-20% EBITDA margins feels poor.
5. Main short term risk is concentation. Around 35% of their 3.9B backlog is from $TSAT. Still, I don't think the Canadian gov lets Telesat fail.
Eton Pharma $ETON Q3 2026 : un trimestre record, une guidance relevée, et un titre qui explose d'environ 20%.
Les ventes atteignent 57,9 M$, en hausse de 158% sur un an et au dessus des 45,9 M$ attendus. C'est le premier trimestre complet avec…substack.com/profile/3329424…
Mon seul ordre qui n’est pas passé hier 😂
People deserve to have access to the most innovative treatments. That’s why we work with leaders across the industry, and starting today, that includes @EliLillyandCo.
When innovators work together, it’s better for everyone. Customers can access more personal care, providers have a well-rounded picture of how their patients are doing, and drugmakers can be confident that the people who need their medications the most will be able to get their hands on it and stick to it.
Lilly is one of the most innovative companies in the world, and we share a commitment to reaching real people with real impact. Working together means we can combine some of the world’s best medicines with our powerful platform to help more people feel great.
Read more, including important info: news.hims.com/newsroom/lilly…
Pourquoi les Français doivent subventionner ce secteur ?
🇫🇷💰 FLASH | Le CNC annonce vouloir consacrer 6 MILLIONS D’EUROS PAR AN aux créateurs de contenu, doublant l’enveloppe de son fonds.
Suspendu après la polémique Ultia, le dispositif revient avec des aides pouvant atteindre plusieurs centaines de milliers d’euros par projet. Les contenus d’information sont exclus. (Le Figaro)
Readers added context they thought people might want to know
Illustration trompeuse.
"Joueur du Grenier" n'a jamais été financé par le CNC Talent, et n'a jamais reçu de réponse de leur part à ses demandes d'aides.
x.com/Frederic_Molas
youtube.com/watch?v=ITormr…
Good news : Ipsen publie des résultats de phase III concluants pour Iqirvo dans la cholangite biliaire primitive
$ETON un peu de bonheur
Record Q3 2026 sales of $57.9M, 158% YoY growth; surpassed $200M annualized rev run rate goal 5 quarters ahead of schedule
Adj EBITDA of $28.5M or 49% of revenue
Raised 2026 revenue guidance to more than $175M, up from prior guidance of more than $145M
Anton | Specter retweeted
$MDA.TO — MDA Space | Q3 2026 Results
Canada's space champion: satellites, robotics (canadarm3) and geointelligence, now listed on the nyse too.
📊 Q3 Highlights:
• Revenue: $498.1M (+21.5% YoY)
• Gross margin: 25.3% (vs 26.4%)
• Adj. EBITDA: $96.0M (+15.9%), margin 19.3%
• Net income: $30.9M vs $27.0M, EPS $0.19 (vs $0.22 on a much bigger share count)
• Operating cash flow: $106.2M (vs $32.8M)
• Cash: $2.15B | Total debt: $825.8M excl. leases → net cash $1.33B
🛰️ By Business:
• Satellite systems $358.3M (+26%), led by telesat lightspeed
• Robotics & space ops $79.9M (+2%)
• Geointelligence $59.9M (+25%)
• Backlog $3.9B, down from $4.4B a year ago as big programs convert
🤝 Capital & Deals:
• $1.1B bought deal in july + $600M senior notes in august
• Cash earmarked for the pending blue canyon technologies and cls acquisitions
🔮 2026 Guidance (raised):
• Revenue $1.90–1.95B (was $1.8–1.9B)
• Adj. EBITDA $355–375M (was $330–370M)
• FCF still guided neutral to negative
Growth and cash flow both came in strong, and guidance moved up again. the watch items: backlog is shrinking as lightspeed burns down, eps is being diluted by ~$1.5B of new equity this year, and the story now leans on landing two big acquisitions and winning new constellation work to refill the book.
Full analysis:
investorlens.io/stocks/MDA.T…
#TSX #CanadianStocks #Space #Aerospace #Defence #Satellites
Anton | Specter retweeted
MDA Space Reports Third Quarter 2026 Results
Read the full news release here: brnw.ch/21x6UPQ
Anton | Specter retweeted
$PNG.V / $KRKNF
Nice to see that between August 27, 2026 and now, Kraken Robotics has pulled in new orders equal to their entire 2025 revenue ($102M)… and majority of these orders will be converting to revenue within 12 months.
- $55M of it coming from Covelya group’s businesses
- $25M for Kraken batteries for UUV defense customers
- $22M for Kraken SAS (Includes largest SAS order yet, integrated into a “major naval program”)
Kraken Robotics announces $102 million in new orders, bringing total announced orders in 2026 to $457 million.
“The acquisition of Covelya has materially expanded the technologies and solutions we can offer our customers, while integration activities continue to progress as planned. With the vast majority of these recent product orders expected to convert to revenue within the next 12 months, this activity provides meaningful visibility as we enter 2027.” – Greg Reid, CEO of Kraken Robotics.
Kraken will release its Q3 2026 financial results on November 24, with a conference call and webcast scheduled for the same day.
Read the full press release: ow.ly/Xx5w510438R
C’est de loin mon plus mauvais call. Le départ de Jared à la NASA et les turbulences dans le monde ont atomisé la boite.
Mes excuses à ceux qui ont pu suivre ce call de merde.
Btw ne jamais suivre un guignol sur les réseaux.
$MDA C’est beau
Backlog of $3.9 billion
Revenues of $498 million, up 22% YoY
Adjusted EBITDA1 of $96 million, up 16% YoY; Adjusted EBITDA margin1 of 19.3%
Adjusted net income1 of $60 million, up 26% YoY
Increased 2026 Revenue and Adjusted EBITDA guidance