SatixFy secures $10.2 million order from MDA Space

REHOVOT, Israel - SatixFy Communications Ltd. (NYSE American: SATX), an innovator in satellite communication systems, has announced a purchase order from MDA Space Ltd. (TSE:MDA) valued at approximately $6.7 million for space-grade chips and engineering models. Additionally, SatixFy has signed an amended Authorization to Proceed agreement worth $3.5 million for further engineering work, building on a previous $2 million ATP. MDA Space, with a market capitalization of $2.37 billion, has demonstrated strong growth with revenue increasing by 33.74% in the last twelve months. According to InvestingPro analysis, MDA maintains a GREAT financial health score of 3.22, indicating robust operational performance.

The order from MDA Space, a recognized name in the satellite industry, is set to support the development and delivery of SatixFy’s advanced chipsets, crucial for the next generation of satellite communication networks. These chips and digital beamformers are expected to enhance the performance and efficiency of MDA Space’s satellite communication solutions. MDA’s stock has shown remarkable momentum, delivering a 97.8% return over the past year. Based on InvestingPro’s Fair Value analysis, the stock currently appears to be fairly valued, with analysts setting price targets between $21.91 and $27.13.

Nir Barkan, CEO of SatixFy, expressed satisfaction with the expansion of their collaboration with MDA Space. He emphasized that the new agreements underscore the market demand for SatixFy’s high-tech space-grade chips and digital beamforming technology. Barkan also highlighted that these developments cement SatixFy’s position as an integral player in advancing satellite communications, catering to both Low Earth Orbit (LEO) and Geostationary Earth Orbit (GEO) constellations.

SatixFy’s portfolio includes satellite multi-beam digital Space antennas, Flat panel user terminals, and modems, all powered by their proprietary chipsets. The company’s products are designed to support advanced communications standards and are well-suited for mobile applications across various orbits.

The press release also contained forward-looking statements regarding the expected benefits of SatixFy’s products and their role in future satellite networks. However, these statements are subject to various factors that could affect the company’s performance and business decisions, as detailed in the Risk Factors section of SatixFy’s Annual Report on Form 20-F.

Investors should note that the information in this article is based on a press release statement from SatixFy Communications Ltd. With MDA’s next earnings report scheduled for March 20, 2025, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports, which provide deeper insights into the company’s financial health and growth prospects.

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