Photo Credit: Telesat
Telesat reported its 2020 financial results on Thursday, with a 10% decline in revenue compared to the prior year, and forecasted a $356 billion total addressable market (TAM) for its business in the future with the Lightspeed constellation.
For the year, Telesat reported consolidated revenue of $820 million Canadian dollars ($648 million). The company cited a variety of factors that contributed to the revenue decrease, but CEO Dan Goldberg said on Thursday’s investor call that roughly 60% of the decline was due to the non-renewal of North American Direct-to-Home (DTH) customer
Shaw Direct and the completion the amortization of
WildBlue prepayment. Other factors include lower revenue on short-term services provided to other satellite operators and the impact of the COVID-19 pandemic on Telesat customers serving aeronautical and maritime markets.