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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.
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 $457 million.
“The acquisition of Covelya has materially expanded the technologies and solutions we can offer our customers, while integration activities continue to progress as planned. With the vast majority of these recent product orders expected to convert to revenue within the next 12 months, this activity provides meaningful visibility as we enter 2027.” – Greg Reid, CEO of Kraken Robotics.
Kraken will release its Q3 2026 financial results on November 24, with a conference call and webcast scheduled for the same day.
Read the full press release: ow.ly/Xx5w510438R
Anton | Specter retweeted
#Medincell -UZEDY® : les ventes nettes atteignent 85 M$ au troisième trimestre 2026, en hausse de 96% sur un an ; les prévisions de ventes 2026 relevées à 290-310 M$. $Medcl🚀🚀
Anton | Specter retweeted
OK LES GARS
Avec @Frenchie_ on a une idée
Est ce que ça intéresse des gens une webtv 24-7 finance/bourse/crypto/eco et tout cet écosystème ?
On est ouvert aux avis !
Anton | Specter retweeted
IPSEN
- Une dynamique exceptionnelle sur 2026 qui se confirme trimestre après trimestre
- Un t3 à +28.3%, encore au dessus du s1 qui était déjà à +23.5%
- Encore un relèvement d'objectifs sur la croissance (+23% vs +20%) et sur la marge op (39% vs 37%)
Anton | Specter retweeted
$SOTK vient de publier un trimestre que le marché va mal lire. Le médical a explosé de 289% sur le S1, le plus grand ordre de l'histoire de la société vient d'être signé en clean energy, et l'expansion de capacité est lancée. Mais l'EPS a déçu de $0.01.
Voilà où en est la thèse.
Anton | Specter retweeted
BESS en France : un besoin chiffré, un cadre politique en retard, et Entech placée sur le vrai goulot
La capacité de batteries installée en France se situe entre 1,3 et 1,5 GW selon les sources. RTE anticipe 10 GW installés d'ici 2035. Le pipeline existe…substack.com/@im2specter/not…
Anton | Specter retweeted
Abivax : une OPA évoquée depuis décembre, démentie à chaque fois, et un dossier que la sécurité a rebattu en juin
Tout vient de La Lettre. Fin décembre, le média rapporte qu'une délégation d'Eli Lilly a rencontré l'administration française mais…substack.com/@im2specter/not…
$ABVX
Anton | Specter retweeted
⚡ Entech franchit un cap : que masque ce contrat record de 40M€ ?
1 - Que dire du profil de marge sur ce type de projet ?
2 - Qu’est-ce que cela annonce pour la suite d’Entech ?
3 - Quel impact sur la valorisation boursière ?
On y répond ici ⬇️⬇️
substack.com/@im2specter/not…
Anton | Specter retweeted
$SOTK : une micro-cap de $82M que le marché valorise comme une société en déclin.
Elle a pourtant 16 ans de rentabilité ininterrompue, vient de poster ses meilleures marges de son histoire, et ouvre des marchés que personne ne regarde encore.
Voici ce que le marché rate.
🧵1/5
Anton | Specter retweeted
Hier j’ai sorti un nouveau format intitulé « SMID Momentum Picks ».
Cinq actions SMID, avec momentum haussier, pour un trimestre.
Objectif, battre le MSCI USA Mid-Cap sur le long terme.
Première sélection pour ce Q4 2026 et ça commence très bien !
im2specter.substack.com/p/sm…
Anton | Specter retweeted
Le vrai Bottleneck du stockage par batteries en France n'est pas la demande.
C'est le raccordement au réseau.
Thread sur un sujet que le marché sous estime 🧵
Anton | Specter retweeted
“We are in the early stages of what we believe will be a significant growth cycle.”
– Greg Reid, CEO, Kraken Robotics
$PNG.V
