Telesat officials said the company will meet its 2024 guidance and continue spending on Lightspeed after releasing first-quarter results on Friday (May 10).

That said, the company said it will need to maximize its EBITDA and cash flow “by seeking to mitigate anticipated revenue declines and rigorously manage our legacy cost structure” in its geostationary business, officials warned in the earnings statement. But as a phone call with investors showed, Telesat still believes that Lightspeed will lift that issue in the coming years.