Maritime Launch Services

MAXQ.NE

Aerospace & Defense · Industrials

Price

C$0.42

+0.00 (+0.00%)

Market Cap

C$323.1M

Exchange

CBOE CA

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 29, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Weak

Cash Flow

Mixed

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+26.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 403.5M (2021) → 509.2M (2025)

Winston Score History

The full picture

Maritime Launch Services Inc. is a commercial space company, based in Halifax, Canada, with operations centered in Nova Scotia. The company is actively developing Spaceport Nova Scotia, a dedicated launch facility that will offer satellite deployment services. This initiative aims to enable clients in the commercial space transportation industry to successfully place their satellites into low-earth orbit.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

YoY Growth Rate

Revenue data limited

EPS Growth

+235.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

C$0/ year

Research and development spending

Cash Runway

~20 months

C$23M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

96.5%

Premium pricing power — 96.5% gross margin

Profit after running costs

Operating Margin

59.5%

Excellent — 59.5% operating margin

Return on the money invested

ROCE

3.9%

Weak — 3.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

184.5%

Converts sales into free cash efficiently (184.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.06

Conservative — low debt load (0.06)

Covers its interest

Interest Cover

0.68x

Dangerous — barely covers interest (0.7x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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