Telesat (TSAT) Operating Expenses (2020 - 2025)

Telesat (TSAT) has 6 years of Operating Expenses data on file, last reported at -$36.1 million in Q4 2025.

• Operating Expenses for Q4 2025 came in at -$36.1 million, up 13.74% year-over-year; the trailing twelve-month figure through Dec 2025 was -$151.6 million (changed 0.07% YoY), and the FY2025 annual result was -$151.6 million, down 21387.89% from the prior year.
• Operating Expenses improved to -$36.1 million in Q4 2025 per TSAT's latest filing, from -$42.0 million in the prior quarter.
• Over five years, Operating Expenses peaked at $263.8 million in Q4 2023 and troughed at -$64.4 million in Q1 2022.
• A 5-year average of -$25.3 million and a median of -$37.7 million in 2023 frame the typical range for Operating Expenses.
• The sharpest annual moves came in 2021 and 2023: Operating Expenses tumbled 183.39% in 2021, then soared 656.42% in 2023.
• A 5-year view of Operating Expenses shows it stood at -$32.0 million in 2021, then tumbled by 48.08% to -$47.4 million in 2022, then soared by 656.42% to $263.8 million in 2023, then slumped by 115.85% to -$41.8 million in 2024, then gained by 13.74% to -$36.1 million in 2025.
• Business Quant data shows TSAT's Operating Expenses at -$36.1 million in Q4 2025, -$42.0 million in Q3 2025, and -$38.4 million in Q2 2025.