Q2 2024 Highlights Record backlog of $4.6 billion at quarter-end, up 318% YoY Strong top line growth with revenues of $242.0 million , up 23% YoY Solid profitability with adjusted EBITDA 1 of $48.
7 million , up 21% YoY, and adjusted EBITDA margin 1 of 20.1% Strong operating cash flow of $149.0 million and healthy balance sheet with net debt to adjusted EBITDA 1 ratio of 2.
0x Solid adjusted net income 1 of $23.4 million , up 7% YoY, and adjusted diluted earnings per share 1 of $0.19 , up 6% YoY Updated 2024 full-year financial outlook Raised revenue guidance, narrowed guidance for adjusted EBITDA and capex Positive free cash flow 1 expected in 2024, one year ahead of plan BRAMPTON, ON , Aug.
8, 2024 /PRNewswire/ - MDA Space Ltd. (TSX: MDA), a trusted space mission partner to the rapidly expanding global space industry, today announced its financial results for the second quarter ended June 30, 2024 . "The MDA Space team delivered a solid Q2 driven by strong execution as we continued to convert our backlog and deliver on our customer commitments," said Mike Greenley , Chief Executive Officer of MDA Space.
"With robust momentum in our end-markets, we also continue to grow our backlog, which at quarter-end stood at a record $4.6 billion . Notable awards in Q2 included a $1 billion contract from the Canadian Space Agency for the next phases of the Canadarm3 program that will see us finalizing the design and carrying out the construction of the robotic system and ground control seg.
