Story perspectives

MDA Space Shares Plummet 25% After EchoStar Contract Loss

9/10/2025

25 2

Summary

Story summary

MDA Space Ltd. shares fell 25% after losing a $1.8 billion contract with EchoStar due to a sudden strategy shift.
EchoStar's decision followed a $17 billion spectrum license sale to SpaceX, affecting MDA's satellite development plans.
MDA clarified that the termination is not performance-related and will receive compensation for termination costs.
CEO Mike Greenley expressed surprise at the unexpected change.
MDA retains a $4.6 billion contract backlog and continues partnerships with T-Mobile and Rogers Communications.

1 of 1

Story summary

MDA Space Ltd. shares fell 25% after losing a $1.8 billion contract with EchoStar due to a sudden strategy shift.
EchoStar's decision followed a $17 billion spectrum license sale to SpaceX, affecting MDA's satellite development plans.
MDA clarified that the termination is not performance-related and will receive compensation for termination costs.
CEO Mike Greenley expressed surprise at the unexpected change.
MDA retains a $4.6 billion contract backlog and continues partnerships with T-Mobile and Rogers Communications.