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AMDA NEWS RELEASE • MDA REPORTS THIRD QUARTER 2021 RESULTS Backlog grows to $ 829 million , up 30 % from Q2 Q3 revenue up 13 % YoY to $ 111.3 million Strong Q3 financial performance with 35 % gross profit Adjusted EBITDA solid at 20 % ( excluding CEWS ) November 12 , 2021 ( Brampton , Ontario ) MDA Ltd. ( TSX : MDA ) , a leading provider of advanced technology and services to the rapidly expanding global space industry , today announced its financial results for the three - month period ended September 30 , 2021. All figures are in Canadian dollars unless otherwise stated . " In the third quarter MDA delivered another strong performance highlighted by solid adjusted EBITDA , growth in backlog and double - digit revenue expansion on a year - over - year basis , " said Mike Greenley , Chief Executive Officer , MDA . “ Operationally , the company continued to execute with significant progress and developments on all three of our flagship programs . With solid financials , operational momentum and growing backlog and demand in Q4 and heading into 2022 , we remain focused on delivering long - term growth and shareholder value . " Q3 and Year - to - Date 2021 Financial Highlights : Backlog September 30 , 2021 $ 828.9 December 31 , 2020 $ 562.5 Change from 2020 2021 Q3 YTD ( in millions of Canadian dollars ) Q3 YTD $ % $ % Revenue Geointelligence $ 40.7 Robotics & Space Operations Satellite Systems 33.1 37.5 $ 137.9 103.0 120.5 ( 4.9 ) ( 11 % ) 1.0 1 % 1.9 6 % 13.4 15 % 15.9 74 % 35.7 42 % Total Revenue $ 111.3 $ 361.4 12.9 13 % 50.1 16 % Gross Profit % 35 % 34 % 434bps 533bps Operating Costs $ 38.8 $ 105.9 6.3 19 % 24.8 31 % Net Income $ 4.0 $ 2.3 5.9 Adjusted EBITDA ( excl . CEWS ) 20 % 24 % n / m ( 390bps ) 25.9 n / m 351bps n / m : not meaningful