MDA SPACE UNVEILS SPACE CONTROL PLATFORM MDA MIDNIGHT(TM), DESIGNED TO DEFEND AND PROTECT THE SPACE DOMAIN

• On April 13, 2026, MDA Space announced the launch of MDA MIDNIGHT™, a maneuverable space-control platform designed for defense organizations.
• The platform is intended to conduct on-orbit surveillance, rendezvous & proximity operations (RPO), satellite capture/release, and de-orbiting in Low Earth Orbit (LEO).
• It leverages existing technologies: MDA SKYMAKER™ robotics suite and MDA AURORA™ satellite bus.
• The company states it is actively seeking military partnerships for upcoming mission profiles but has not disclosed specific signed contracts or revenue values associated with this launch.
• This announcement follows the March 2026 IPO, strong FY25 earnings, and the February 2026 launch of the 49North defense subsidiary.

• Financial Impact: Neutral to Positive (Short Term). No immediate revenue recognition is attached to this platform unveiling. Unlike the $32 million GBO contract awarded in March, this is a capability announcement requiring future customer conversion.
• Strategic Impact: Positive. It validates the company's pivot toward active space defense and services, complementing the 49North subsidiary launched in February. It differentiates MDA from pure-play satellite manufacturers by offering on-orbit servicing capabilities.
• Market Expectations: In line with previous guidance. Management has highlighted a $40 billion pipeline and a focus on defense (SHIELD contract Jan 2026). This product launch is an expected execution of that strategy rather than a surprise breakthrough.
• Risk Profile: Low immediate risk, but high execution dependency. The value depends entirely on securing military partnerships, which are subject to long procurement cycles.

• Overview: MDA Space Ltd. is a Canadian aerospace and defense company specializing in satellite systems, robotics, and geointelligence. It spun off from MDA Ltd. and completed its US IPO in March 2026.
• Flagship Projects:
  • Canadarm3: Design phase contract with Canadian Space Agency for lunar surface operations (unaffected by NASA Artemis shifts per March update).
  • RADARSAT Constellation Mission Replenishment: Initial $44.7 million contract awarded Dec 2025, with full build expected in 2026.
  • MDA MIDNIGHT™: New space control platform unveiled April 2026.
• Segments: Satellite Systems (primary revenue driver), Robotics & Space Operations, Geointelligence.