08:12 AM EST, 11/04/2025 (MT Newswires) -- Telesat ( TSAT ) on Tuesday reported a third-quarter loss as revenue also fell.

The company reported a net loss of $121 million, or $2.38 per share, compared with net earnings of $67.8 million, or $1.23 per diluted share, in the prior year period. The result missed analysts' forecast of $1.80 per share, according to FactSet.

Revenue which fell to $101 million, from $138.4 million, was slightly above the $100.3 million forecast. The decrease was caused by a lower rate on the renewal of a long-term agreement with a North American direct-to-home television customer and the expiry of a separate agreement with that customer, and reduced services for other customers.

For fiscal 2025, Telesat ( TSAT ) expects revenue to be between $405 million and $425 million.