$MDA
The quiet Canadian compounder with a record backlog and a global defense tailwind. MDA posted record 2025 revenue of CA$1.63B ($1.19B), up 51% YoY, driven by an 85.5% surge in its Satellite Systems division — with adjusted net income up 71% YoY. The company projects a CA$40B ($29B) pipeline of opportunities over the next five years, and 90% of its 2026 revenue outlook is already supported by existing backlog. MDA unveiled its MIDNIGHT space control platform, designed to rendezvous with LEO assets to track, counter, capture, and de-orbit threats — a direct play on the growing space domain awareness and Golden Dome defense thesis. Q1 2026 earnings report on May 7. Not financial advice.