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TOTAL PLAY ANNOUNCES REVENUE OF Ps.10,843 MILLION AND EBITDA OF Ps.5,083 MILLION IN THE FIRST QUARTER OF 2025

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1 year ago

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—Capex for the quarter was equivalent to 24% of the company’s revenue, compared to Capex equivalent to 30% of revenue a year ago—

—EBITDA less Capex reached a record high of Ps. 2,482 million in the period—

 —EBITDA less Capex and interest was Ps.587 million in the quarter, more than double from Ps.237 million a year ago—

MEXICO CITY, April 29, 2025 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a leading telecommunications company in Mexico, which offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, announced today financial results for the first quarter of 2025.

“We were able to further boost our solid cash flow generation — defined as EBITDA less Capex less interest paid — which totaled Ps.587 million this quarter, more than double the prior-year figure, and which represents the fifth consecutive quarter of significant cash generation at Total Play. This positive performance this period comes amid solid progress on cost reduction initiatives that strengthened EBITDA, along with Capex, which represents only 24% of our revenues,” commented Eduardo Kuri, CEO of Total Play. “The significant cost reduction also further boosted profitability, with a six-percentage-point increase in gross margin to 85% and a two-percentage-point increase in EBITDA margin to 47% this period.”

“On the balance sheet, we announced on April 14th the successful placement — among a limited number of investors — of US$200 million Additional Notes to Total Play’s US$821 million Senior Secured Notes due 2032 issued last February,” Mr. Kuri added. “The proceeds from the placement of the Additional Notes will be largely used to repay shorter-term debt, which translates into stability in the Company’s leverage levels and a neutral effect on our net debt. They also extend Total Play’s maturity profile and further strengthen our liquidity.”

First quarter results

Revenue for the quarter was Ps.10,843 million, compared to Ps.11,087 million for the same period last year. Total costs and expenses were Ps.5,760 million, 6% lower than Ps.6,099 million for the previous year.

As a result, Total Play’s EBITDA grew 2% to Ps.5,083 million, up from Ps.4,988 million a year ago; the quarterly EBITDA margin was 47%, two percentage points higher than the same quarter in 2024. The company recorded an operating profit of Ps.763 million, compared to Ps.836 million a year ago.

Total Play reported a net loss of Ps.1,961 million, compared to a loss of Ps.1,164 million in the same quarter of 2024. 

   Q1 2024 

   Q1 2025 

  Change 

Ps. 

%

Revenue from services 

$11,087

$10,843

$(244)

(2) %

EBITDA   

$4,988

$5,083

$95

2 %

Operating income 

  

Net result  

$836 

  

$(1,164) 

$763

  

$(1,961) 

$(73) 

  

$(797) 

(9)% 

  

(68)% 

Amounts in millions of pesos.

EBITDA: Earnings before interest, taxes, depreciation, and amortization.

Revenue from services

The company’s revenue decreased 2%, reflecting a 37% decline in revenue from its enterprise business and a 5% increase in sales from its residential segment.

Totalplay Residential’s revenue growth, to Ps.9,570 million, compared to Ps.9,078 million in the previous year, is due to a 9% increase in the number of subscribers to the company’s services compared to the same quarter of the previous year, reaching 5,328,703 — a figure that includes 68,036 small and medium-sized businesses — this period. The company believes that the number of users reached this quarter reflects its remarkable ability to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and service excellence.

Compared to the previous quarter, the subscriber base increased by 108,921 users, in line with Total Play’s strategy of moderating subscriber growth.

Average revenue per subscriber (ARPU) for the quarter was Ps.597, compared to Ps.617 a year ago. The decrease in ARPU is largely related to a growing proportion of users with doble-play packages compared to triple-play users within the total residential subscriber base.

The number of homes passed by Total Play in Mexico at the end of this period was 17,625,585, a figure with minor variations compared to 17,568,145 a year ago. This reflects the company’s strategy of not investing in geographic coverage, in order to further strengthen cash flow generation.

Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 30.2% at the end of the quarter, up from 27.9% a year ago.

Revenue from the enterprise business was Ps.1,273 million, compared to Ps.2,009 million in the previous year. The reduction is due to the completion of predetermined-duration projects scheduled to conclude this period.

Costs and expenses

Total costs and expenses decreased 6%, as a result of a 30% reduction in service costs and a 9% increase in general expenses.

The reduction in costs, to Ps.1,597 million, from Ps 2,295 million a year earlier, primarily resulted from lower costs for business projects concluded in the period, as well as lower content costs, partially offset by higher membership costs.

The increase in expenses, to Ps.4,163 million, from Ps.3,804 million, reflects higher maintenance and licensing expenses, partially offset by a reduction in personnel expenses.

EBITDA and net result

Total Play’s EBITDA was Ps.5,083 million, 2% higher than the Ps.4,988 million of the previous year.

Key variations below EBITDA were as follows:

An increase of Ps.168 million in depreciation and amortization, primarily resulting from user acquisition costs — telecommunications equipment, labor, and installation expenses.

An increase of Ps.627 million in the fair value of financial instruments, as a result of the prepayment of costs related to the issuance of Senior Notes due 2028 due to the completion of the exchange offer for such Notes — and the cancellation of the exchanged Notes — announced on February 10, 2025.

A growth of Ps.293 million in interest payable, consistent with an increase in the financial debt balance.

A foreign exchange loss of Ps.40 million this quarter, compared to a foreign exchange gain of Ps.410 million a year ago, as a result of a net monetary liability position in foreign currency, coupled with the depreciation of the peso against the dollar this period, compared to its appreciation the previous year.

Total Play reported a net loss of Ps.1,961 million, compared to a loss of Ps.1,164 million in the same period in 2024.

Balance sheet

As of March 31, 2025, the company’s debt with cost was Ps.60,806 million, compared to Ps.51,388 million in the previous year. This increase includes the subscription of an additional US$225 million as part of the exchange of US$821 million Senior Secured Notes due 2032, announced last February, the effect of the exchange rate depreciation on foreign currency-denominated debt during the period, and the issuance of Cebures.

Lease liabilities were Ps.3,917 million, 28% lower than the previous year’s Ps.5,459 million.

Cash and cash equivalents, as well as restricted cash held in trusts, was Ps.10,008 million, compared to Ps.4,860 million a year ago. As a result, the company’s net debt was Ps.54,715 million, compared to Ps.51,987 million a year ago.

The debt ratio — Net Debt / EBITDA for the last two quarters, annualized — was 2.59 times.

Total Play’s fixed assets — which include accumulated investments in fiber optic, telecommunications equipment, and subscriber acquisition costs, among other assets — were Ps. 85,944 million, compared to Ps. 61,693 million a year ago. The increase is related to the periodic recognition of the fair value of fixed assets — revaluation — under both, the Multi-Period Excess Earnings Method and the Market Approach.

In a follow-up event, on April 14, Total Play announced the successful placement of US$200 million Additional Notes to a limited number of investors, in addition to its US$821 million Senior Secured Notes due 2032, with an interest rate of 11.125%. The Additional Notes share the same characteristics — same contract, same guarantees, and fully fungible — as those of the Senior Secured Notes due 2032. The proceeds from the placement of the Additional Notes — in an all-cash transaction — will be used largely to repay shorter-term debt, extending Total Play’s maturity profile and further strengthening its liquidity.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

Investor Relations:

Bruno Rangel

Rolando Villarreal

+ 52 (55) 1720 9167

+ 52 (55) 1720 9167

jrangelk@totalplay.com.mx

rvillarreal@totalplay.com.mx

Press Relations:

Luciano Pascoe

Tel. +52 (55) 1720 1313 ext. 36553

lpascoe@gruposalinas.com.mx

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I.  DE C.V. AND SUBSIDIARIES

CONSOLIDATED QUARTERLY INCOME STATEMENTS

(Millions of Mexican pesos)

1Q24

1Q25

Change

$

%

$

%

$

%

Revenue from services

11,087

100 %

10,843

100 %

(244)

(2 %)

Cost of services

(2,295)

(21 %)

(1,597)

(15 %)

698

30 %

Gross profit

8,792

79 %

9,246

85 %

454

5 %

General expenses

(3,804)

(34 %)

(4,163)

(38 %)

(359)

(9 %)

EBITDA

4,988

45 %

5,083

47 %

95

2 %

Depreciation and amortization

(4,152)

(37 %)

(4,320)

(40 %)

(168)

(4 %)

Operating profit 

836

8 %

763

7 %

(73)

(9 %)

Financial cost:

Interest revenue

69

1 %

56

1 %

(13)

(19 %)

Derivative financial instruments

(297)

(3 %)

(924)

(9 %)

(627)

n.m. 

Accrued interest expense

(1,477)

(13 %)

(1,770)

(16 %)

(293)

(20 %)

Other financial expenses

(42)

(0 %)

(200)

(2 %)

(158)

n.m. 

Foreign exchange gain (loss) – Net

410

4 %

(40)

(0 %)

(450)

(110 %)

(1,337)

(12 %)

(2,878)

(27 %)

(1,541)

(115 %)

Loss before income tax provisions

(501)

(5 %)

(2,115)

(20 %)

(1,614)

n.m. 

Income tax provision

(663)

(6 %)

154

1 %

817

123 %

Net loss for the period

(1,164)

(10 %)

(1,961)

(18 %)

(797)

(68 %)

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Millions of Mexican pesos)

As of March 31,

2024

2025

Change

$

%

$

%

$

%

Assets

CURRENT ASSETS

Cash and cash equivalents

2,138

3 %

7,132

6 %

4,994

n.m.

Restricted cash in trusts

2,722

3 %

2,876

3 %

154

6 %

Customers – net

4,177

5 %

2,902

3 %

(1,275)

(31 %)

Other accounts receivable

181

0 %

–

0 %

(181)

(100 %)

Derivative financial instruments

–

0 %

193

0 %

193

n.a.

Recoverable taxes

4,137

5 %

3,365

3 %

(772)

(19 %)

Related parties

319

0 %

297

0 %

(22)

(7 %)

Inventories

2,508

3 %

2,416

2 %

(92)

(4 %)

Prepaid expenses

593

1 %

576

1 %

(17)

(3 %)

Total current assets

16,775

20 %

19,757

18 %

2,982

18 %

NON-CURRENT ASSETS

Related parties

233

0 %

162

0 %

(71)

(30 %)

Property, plant and equipmente – Net

61,693

72 %

85,944

77 %

24,251

39 %

Rights-of-use assets -Net

4,492

5 %

2,849

3 %

(1,643)

(37 %)

Trademarks and other assets

2,093

2 %

2,458

2 %

365

17 %

Total non-current assets

68,511

80 %

91,413

82 %

22,902

33 %

Total assets

85,286

100 %

111,170

100 %

25,884

30 %

Liabilities and Stockholders’ Equity

SHORT-TERM LIABILITIES

Financial debt

4,555

5 %

9,240

8 %

4,685

103 %

Lease liabilities

2,457

3 %

2,367

2 %

(90)

(4 %)

Trade payables

14,708

17 %

12,718

11 %

(1,990)

(14 %)

Reverse factoring

1,743

2 %

1,483

1 %

(260)

(15 %)

Other payables and payable taxes

1,809

2 %

1,967

2 %

158

9 %

Related parties

1,026

1 %

1,195

1 %

169

16 %

Liabilities from contracts with customers

471

1 %

618

1 %

147

31 %

Interest payable

258

0 %

35

0 %

(223)

(86 %)

Derivative financial instruments

111

0 %

–

0 %

(111)

(100 %)

Total short-term liabilities

27,138

32 %

29,623

27 %

2,485

9 %

LONG-TERM LIABILITIES

Financial debt

46,833

55 %

51,566

46 %

4,733

10 %

Lease liabilities

3,002

4 %

1,550

1 %

(1,452)

(48 %)

Derivative financial instruments

–

0 %

–

0 %

–

0 %

Employee benefits

84

0 %

101

0 %

17

20 %

Deferred income tax

5,916

7 %

12,950

12 %

7,034

119 %

Total long-term liabilities

55,835

65 %

66,167

60 %

10,332

19 %

Total liabilities

82,973

97 %

95,790

86 %

12,817

15 %

STOCKHOLDERS’ EQUITY

2,313

3 %

15,380

14 %

13,067

n.m.

Total liabilities and stockholders’ equity

85,286

100 %

111,170

100 %

25,884

30 %

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Millions of Mexican pesos)

3 months period ended

March 31,

2024

2025

Operating activities:

Loss before income tax provision

(501)

(2,115)

Items not requiring the use of resources:

Depreciation and amortization

4,156

4,320

Employee benefits

9

9

Items related to investing or financing activities:

Accrued interest income

(69)

(56)

Accrued interest expense and other financial transactions

1,816

2,893

Unrealized exchange gain

(187)

(89)

5,224

4,962

Resources (used in) generated by operating activities:

Customers and unearned revenue

(274)

315

Other receivables

1

–

Related parties, net

65

53

Taxes to be recovered

4

353

Inventories

419

292

Advance payments

(64)

(76)

Trade payables

1,196

(906)

Other payables

394

298

Cash flows generated by operating activities

6,965

5,291

Investing activities: 

Acquisition of property, plant and equipment

(3,297)

(2,601)

Other assets

15

(234)

Collected interest

69

56

Cash flows (used in) investing activities

(3,213)

(2,779)

Financing activities:

Loans (paid) received

(538)

4,312

Leasing cash flows

(601)

(822)

Restricted Cash in Trusts

654

(488)

Reverse factoring

(491)

(107)

Derivative financial instruments

(1,561)

265

Interest payment

(1,454)

(1,895)

Cahs flows (used) generated in financing activities

(3,991)

1,265

Net increase (decrease) of cash and cash equivalents

(239)

3,777

Cash and cash equivalents at the beginning of the year 

2,377

3,355

Cash and cash equivalents at the end of the year 

2,138

7,132

 

View original content:https://www.prnewswire.com/news-releases/total-play-announces-revenue-of-ps10-843-million-and-ebitda-of-ps5-083-million-in-the-first-quarter-of-2025–302442065.html

SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

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DataOne Adds Massachusetts Registration and Sales Data to Cross-Sell Reports for Auto Dealers, Expanding State Coverage to 40 States

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7 minutes ago

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October 19, 2026

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BEVERLY, Mass., Oct. 19, 2026 /PRNewswire/ — DataOne Software, a Dominion Enterprises company and a leading provider of automotive data and software solutions, today announced the availability of Massachusetts vehicle registration and sales data within its Cross-Sell Reports market intelligence solutions for dealers. Cross-Sell Reports, including the Cross-Sell Interactive web interface, provide auto dealers with unparalleled insight into local market trends, giving them a competitive edge in reaching new customers and expanding market share. The addition of Massachusetts data to Cross-Sell Reports expands coverage to 40 states.

“As of today, Massachusetts dealers can now access a current, accurate view of new and used vehicle transactions within their market area,” explains David Wall, DataOne head of Cross-Sell Reports. “Localized data, in easy-to-interpret views, are an incredible advantage to dealers who want to spot trends early and make decisions based on accurate market intelligence. We are thrilled to be bringing this capability not only to Massachusetts dealers but also to dealerships in other New England states whose target markets cross into Massachusetts.”

On average, over 3.8 million vehicle transactions are processed monthly for inclusion in Cross-Sell Reports, covering new and used dealer transactions across 40 states, all sourced from official state DMV records.  Each dealer subscription is configured to the dealer’s unique market area and provides:

Competitive market share analysis by dealership, make, and modelZIP code-level heat mapping to identify buyer activity and emerging marketsInventory trend analysis to inform stocking decisions by segment and seasonInteractive dashboards with drill-down reporting — no analytics infrastructure required

“We know dealers trust Cross-Sell Reports for critical market insight, and for those insights to be delivered with industry-leading speed and timeliness,” says Jake Maki, DataOne President. “With the addition of Massachusetts state coverage, we continue to expand our coverage providing more dealers with the most immediate, accurate market intelligence available.”

Since welcoming the Cross-Sell brand into DataOne earlier this year, DataOne has accelerated efforts to expand state coverage of vehicle registration and sales data. In addition to Massachusetts, Cross-Sell Reports recently added Mississippi, Kansas and Georgia to its coverage.

“Our goal is to make DataOne the most accurate and comprehensive source of vehicle registration and sales data, however customers choose to use it,” says Maki. “For a dealer, that might be a Cross-Sell Interactive dashboard tuned to their local market. For other customers looking to license the data, it might be multi-state data integrated directly into their own platforms. Every new state we add makes both more valuable.”

In addition to Cross-Sell Reports and Cross-Sell Interactive, DataOne offers Vehicle Registration and Sales Data for licensing via API or FTP data feed, with coverage configurable by state or region.

For general information about DataOne solutions, contact DataOne at 877.438.8467, e-mail sales@dataonesoftware.com or visit dataonesoftware.com.  For specific information about Cross-Sell Reports or Cross-Sell Interactive for dealers, visit Cross-Sell Reports.

About DataOne Software

DataOne Software (www.dataonesoftware.com) is a premier automotive data source providing the data and software solutions needed to power modern businesses across all segments of the automotive industry. DataOne’s comprehensive data solutions cover everything from VIN decoding and vehicle descriptions to specifications, optional equipment, and market pricing. With the acquisition of Cross-Sell in 2026, DataOne has expanded our product offering to include PII-free vehicle sales and registration data. Our high-quality solutions are delivered with industry-leading support, making them easy to integrate and scale.

Media Contact

Alice Fackre, Product and Brand Marketing Manager

Email: alice.fackre@dataonesoftware.com

Phone: (978) 473-9097

View original content to download multimedia:https://www.prnewswire.com/news-releases/dataone-adds-massachusetts-registration-and-sales-data-to-cross-sell-reports-for-auto-dealers-expanding-state-coverage-to-40-states-302911528.html

SOURCE DataOne Software

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DR. PHONE FIX ENTERS DEVICE LIFECYCLE AND FULFILLMENT MOU WITH GEO NOVA SCOTIA

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7 minutes ago

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October 19, 2026

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Agreement expands Dr. Phone Fix’s institutional platform through device procurement, triage, repair, refurbishment, accessories and fulfillment services

EDMONTON, AB, Oct. 19, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (TSXV: DPF) (“Dr. Phone Fix” or the “Company”), one of Canada’s fastest-growing and award-winning national consumer electronics lifecycle platforms, is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with GEO Nova Scotia (“GEO” or “Getting Everyone Online”), a nonprofit organization focused on advancing digital inclusion across Nova Scotia.

Under the MOU, Dr. Phone Fix will provide a broad range of device lifecycle services supporting GEO’s programs, including device procurement and inventory management, donated-device triage, repair and refurbishment, device preparation, accessories, packaging, fulfillment, shipping, tracking and environmentally responsible disposition, with GEO’s approval, of devices that are uneconomical or impractical to repair.

The relationship builds on GEO’s digital inclusion programs across Nova Scotia. Since 2022, GEO has distributed more than 8,500 devices, including almost 3,500 refurbished mobile phones and iPads, and has provided more than 4,500 home internet and mobile phone connections to individuals who otherwise may not be able to afford them. GEO delivers its programs through a network of more than 125 partner agencies across the province.

“This relationship is a strong example of how the infrastructure we have built at Dr. Phone Fix can support customers well beyond the traditional retail environment,” said Piyush Sawhney, Founder and Chief Executive Officer of Dr. Phone Fix. “We can manage a broad range of device lifecycle services – from procurement and inventory management to assessment, repair, preparation and ultimately fulfillment to the end user. We believe this type of institutional relationship represents an important growth opportunity for Dr. Phone Fix as we continue expanding our capabilities across Canada.”

Under the commercial structure contemplated by the MOU, Dr. Phone Fix will generate revenue through the sale of devices to GEO, per-device processing services, accessories and approved repair and refurbishment work, where applicable. DPF will also maintain GEO-owned inventory and manage fulfillment and distribution of devices to GEO program participants and partner organizations.

Each device processed for fulfillment may include services and accessories such as protective cases, screen protection, charging cables and charging equipment, with DPF managing the preparation, packaging, shipment and associated tracking requirements.

Management believes these relationships can leverage DPF’s existing national infrastructure, supplier network, repair capabilities and centralized operating systems while creating incremental revenue streams across device procurement, repair, refurbishment, accessories and fulfillment.

About GEO Nova Scotia

GEO Nova Scotia, or Getting Everyone Online, is a nonprofit organization dedicated to advancing digital inclusion by helping ensure individuals have access to the devices, connectivity and basic skills required to participate in an increasingly digital economy. GEO works with public-sector, private-sector and community partners across Nova Scotia to support individuals facing barriers to digital access.

About Dr. Phone Fix

Dr. Phone Fix is an award-winning, eco-friendly, and customer-centric integrated device care platform providing repair, refurbishment, certified pre-owned devices, trade-in solutions, accessories and related services through its growing national retail network. Founded in 2019, the Company serves consumers and businesses across multiple Canadian markets, delivering convenient and reliable device care solutions through its corporately owned retail network. With a focus on operational execution, customer service and sustainability, Dr. Phone Fix continues to expand its national platform while supporting the repair, reuse and extension of the useful life of connected devices.

www.docphonefix.com

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as “intend”, “believe”, “estimate”, “expect”, “may”, “will”, “would”, “could”, “should”, “plans”, “anticipates” and similar references to future periods. Forward-looking information includes, but is not limited to, statements regarding the expected scope, scale and benefits of the Company’s relationship with GEO Nova Scotia; potential revenues from device sales, processing, repair, refurbishment, accessories and related services; the continued expansion of the Company’s institutional and enterprise business; and the Company’s ability to leverage its national operating platform to support additional device lifecycle programs. Forward-looking information is based on management’s current expectations, assumptions and estimates as of the date of this news release. The MOU does not guarantee any specific number of device purchases and does not specify a minimum processing volume, and actual volumes, revenues and profitability may differ materially from management’s expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These include, among others, changes in GEO’s program requirements or funding, actual device volumes, availability and condition of donated and purchased devices, supply chain and inventory availability, repair and fulfillment costs, operational execution, termination or modification of the MOU, competitive conditions and general economic and business conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable law.

SOURCE Dr. Phone Fix

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A Speed Cap Nobody Will Own Just Shook Up the Satellite Trade

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October 19, 2026

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WASHINGTON, Oct. 19, 2026 /PRNewswire/ — USA News Group News Commentary – Ukrainian President Volodymyr Zelenskyy said on Saturday that tests showed Starlink-equipped drones lost their connection when flying faster than about 100 mph inside Ukraine, while Starlink terminals moving at more than 112 mph inside the European Union worked normally. “In other words, this is a planned operation,” he said. No one in Washington or at SpaceX has claimed the decision. Most U.S.-listed space stocks fell sharply last week, while Europe’s only low Earth orbit broadband rival to SpaceX had its best day in 16 months. Active Companies from around the markets with current developments this week include: Space Exploration Technologies Corp. (NASDAQ: SPCX), AST SpaceMobile, Inc. (NASDAQ: ASTS), Iridium Communications Inc. (NASDAQ: IRDM), Rocket Lab Corporation (NASDAQ: RKLB), Eutelsat Communications SA (Euronext Paris: ETL).

The restrictions reportedly cover both Starlink and Starshield, SpaceX’s military-use service, which Ukraine relies on for communications, logistics, live drone video and targeting. The Telegraph reported on Oct. 16, citing four unnamed sources, that Elon Musk approached President Trump with the idea of slowing Starlink in Ukraine and that Trump “agreed.” Musk said on X that speed or usage limits on Starshield “are decided by the US military and ultimately POTUS.” Trump told reporters, “it wasn’t me, and I don’t think it was Elon.”

Secretary of State Marco Rubio said on Saturday, “We had nothing to do with it. Nobody ordered that Starlink speed to be slowed down. It sorta happened.” He also said Starshield was not available to Ukraine, which Yahoo Finance noted conflicts with a late 2024 Pentagon contract that expanded Ukraine’s Starshield access from about 500 to roughly 3,000 terminals. Speaking on NBC’s Meet the Press on Sunday, Zelenskyy said, “Just give us back Starlink.”

Europe is paying close attention. The European Union is working to develop its own alternative to Starlink, and on Sunday the U.S. ambassador to the EU threatened “devastating” retaliation if the bloc advanced a proposal favoring EU-made satellites over companies like SpaceX, Yahoo Finance reported.

CONTINUED… Read this and more news for the space sector at: usanewsgroup.com

In other industry developments and happenings in the market this week include:

Space Exploration Technologies Corp. (NASDAQ: SPCX)

Shares of SpaceX fell 10.17% last week, from $162.57 at the Oct. 9 close to $146.03 on Oct. 16, according to Stock Analysis data, though they remain above the $135 price of the company’s June initial public offering. Starlink, a core part of SpaceX’s business, has more than 13 million subscribers worldwide, and Yahoo Finance noted this is the first throttling episode since the company went public.

SpaceX has limited service in Ukraine before. In 2023, President and COO Gwynne Shotwell acknowledged the company could restrict how Ukraine used Starlink, saying, “There are things that we can do, and have done.” Musk said on X last week that Starlink “is limited to civilian or defensive activities.”

AST SpaceMobile, Inc. (NASDAQ: ASTS)

AST SpaceMobile, which is building a space-based cellular broadband network that connects directly to standard smartphones, fell 20.23% last week, from $50.97 to $40.66. On Oct. 13, Piper Sandler downgraded the stock to Neutral from Overweight and cut its price target to $54 from $98, citing SpaceX’s direct-to-cell ambitions after its agreement to acquire Grain Management’s 800 MHz spectrum for about $8 billion, subject to regulatory approval.

Piper warned that SpaceX could, in theory, limit launch opportunities for competitors such as AST and pressure pricing by competing with telecom operators. Not every analyst agreed. Deutsche Bank upgraded the shares to Buy on Oct. 12 with a $93 target, and Clear Street reiterated a Buy rating with a $115 target, arguing AST is about six months ahead of SpaceX in direct-to-cell.

Iridium Communications Inc. (NASDAQ: IRDM)

Iridium announced on Oct. 14 that Altair Semiconductor is adding Iridium NTN Direct to its ALT1350 and ALT1550 cellular IoT chipsets, letting device makers, module makers and mobile network operators add satellite coverage without a separate satellite modem. “Iridium is offering device manufacturers a powerful new way to develop connected products,” said Tim Last, executive vice president at Iridium.

Iridium stockholders approved the company’s acquisition by Rocket Lab on Sept. 24, with about 99.6% of votes cast in favor. Each Iridium share is to be exchanged for $27.00 in cash plus Rocket Lab stock based on an exchange ratio subject to a collar, for a notional value of $54.00 per share, and the deal is expected to close by mid-2027, subject to remaining regulatory approvals. Iridium shares fell 7.82% last week, from $47.47 to $43.76.

Rocket Lab Corporation (NASDAQ: RKLB)

Rocket Lab shares fell 25.47% last week, from $68.21 to $50.84, after founder and CEO Sir Peter Beck said in a video posted to YouTube that the first launch of the company’s Neutron rocket would move from late 2026 into 2027. Inspectors found voids in the carbon-fiber layers of a recently made forward propellant dome after curing, according to Space.com.

Beck said the voids “don’t necessarily mean that the dome would fail in flight,” but added, “Possible success isn’t our standard.” Rocket Lab expects to finish a new forward dome by the end of the year and complete first-stage testing in the first quarter of 2027, after which Beck said the company expects to be “in good shape to share a new target launch date.”

Eutelsat Communications SA (Euronext Paris: ETL)

Eutelsat shares jumped 23% on Oct. 14, the stock’s biggest one-day gain in 16 months, Reuters reported, after Ukraine said Starlink had introduced restrictions on its military-grade service. Eutelsat’s OneWeb network has more than 600 satellites in low Earth orbit, compared with about 10,000 for Starlink, and it is the only company besides SpaceX providing space-based internet through a low Earth orbit network. Bernstein analyst Aleksander Peterc said the news put European providers “back in the spotlight as potential alternatives.”

Not everyone sees an easy swap. Existing Starlink users cannot simply switch to OneWeb, since a transition would require new terminals and supporting infrastructure, and independent consultant Christian Freiherr von der Ropp said “considering it as a straightforward substitute overlooks significant operational and infrastructure constraints.”

Space stocks swung hard on headlines last week. Learn to read the charts behind moves like these with the free Stock Preachers guide, plus The Roadmap market reports, at stockpreachers.com.

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