With inflation beginning to cool and rates of interest discovering some stability in early 2026, it is smart for traders to slowly transfer again towards corporations targeted on innovation. For instance, development shares tied to areas like synthetic intelligence (AI), cybersecurity, and next-generation connectivity may see exponential development within the years forward.
Two TSX-listed corporations that match that description are BlackBerry (TSX:BB) and Telesat (TSX: TSAT). Whereas each have gone by means of difficult intervals, they’re now exhibiting indicators of clearer path and development catalysts that would assist robust returns over the subsequent few years. Let me clarify why.
BlackBerry inventory
BlackBerry inventory at present trades at $4.77 per share with a market cap of about $2.8 billion. The inventory has been risky lately, however its persistently enhancing monetary development developments recommend its turnaround story is changing into extra steady.
Within the third quarter of its fiscal 2026 (three months led to November 2025), BlackBerry generated whole income of US$141.8 million. That was above its earlier steerage. In the meantime, its profitability additionally improved. The corporate reported GAAP (Usually Accepted Accounting Ideas) internet revenue of US$13.7 million within the newest quarter. This marked the third consecutive quarter of constructive GAAP internet revenue for the corporate.
An enormous a part of that progress comes from its QNX phase. The phase’s quarterly income jumped 10% YoY to US$68.7 million. This was the very best quarterly income within the division’s historical past.
BlackBerry’s safe communications phase additionally provides stability to its enterprise mannequin. Final quarter, it generated US$67 million in quarterly income and delivered US$17.3 million in adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization).
If QNX continues to increase and safe communications stay steady, BlackBerry inventory has the potential to see robust upside in 2026 and past.
Telesat inventory
After rallying over 20% within the final yr, Telesat inventory now trades at $38.18 per share and has a market capitalization of roughly $1.9 billion. Its latest outcomes present some stress, however the firm is in the course of a serious strategic shift that would change its long-term outlook.
Within the third quarter of 2025, Telesat’s consolidated income fell 27% YoY to $101 million. The decline was primarily resulting from decrease renewal charges and contract expirations in its legacy geostationary satellite tv for pc enterprise. Nonetheless, its adjusted EBITDA got here in at $47 million, representing a stable 46.3% margin.
Going ahead, Telesat’s actual development story might be linked to Telesat Lightspeed, its deliberate low Earth orbit satellite tv for pc constellation. On the finish of the September 2025 quarter, its contracted backlog for Lightspeed stood at about $1.1 billion. That’s larger than the $900 million backlog in its conventional geostationary enterprise. This shift means that its future development is predicted to come back from the newer platform.
Lightspeed is designed to ship fibre-like speeds with decrease latency in comparison with conventional satellites. It’s focusing on telecom, authorities, maritime, and aviation clients. If Lightspeed is rolled out efficiently and begins turning backlog into income, Telesat may emerge as a next-generation world connectivity supplier, which may assist its share worth surge.