12:33 PM EST, 11/04/2025 (MT Newswires) -- Telesat ( TSAT ) on Tuesday it is expanding its relationship with Farcast, a San Francisco-based startup that is building advanced satellite User Terminals by making a US$5 million equity investment.

The company said Farcast will deliver an enterprise-class Flat Panel Antenna (FPA) User Terminal that is fully integrated with the Telesat Lightspeed modem and ready for volume production. Telesat ( TSAT ) will take a seat on Farcast's board "to support the company's alignment with the goals of the Telesat Lightspeed program."

Terminals that are fully integrated with Telesat Lightspeed modem is planned to be available in 2027.

"Throughout prototype development, we've seen firsthand Farcast's innovative approach to extending satellite communications capability and reach through small form factor FPAs that deliver outstanding performance," said Chief Technology Officer Michel Forest. "We see value not only in what Farcast can provide for Telesat's ( TSAT ) telecom and enterprise customers, but also the wider satellite industry for mass-produced, high-performing terminals, including aviation and defence applications."

The company, earlier on Tuesday reported a swing to loss in the third quarter that missed estimates. Quarterly revenue fell year-over-year.

Shares of the company were last seen down $1.61 at $39.94 on the Toronto Stock Exchange.

Price: 39.94, Change: -1.61, Percent Change: -3.87