2 Growth Stocks Set to Skyrocket in 2026 and Beyond

After years of volatility and restructuring, these Canadian growth stocks now have the catalysts that could fuel major upside.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published February 13, 3:45 pm EST

With inflation starting to cool and interest rates finding some stability in early 2026, it makes sense for investors to slowly move back toward companies focused on innovation. For example, growth stocks tied to areas like artificial intelligence (AI), cybersecurity, and next-generation connectivity could see exponential growth in the years ahead.

Two TSX-listed companies that fit that description are BlackBerry (TSX: BB) and Telesat (TSX: TSAT). While both have gone through challenging periods, they are now showing signs of clearer direction and growth catalysts that could support strong returns over the next few years. Let me explain why.

space ship model takes off — Source: Getty Images

BlackBerry stock

BlackBerry stock currently trades at $4.77 per share with a market cap of about $2.8 billion. The stock has been volatile in recent years, but its consistently improving financial growth trends suggest its turnaround story is becoming more stable.

In the third quarter of its fiscal 2026 (three months ended in November 2025), BlackBerry generated total revenue of US$141.8 million. That was above its earlier guidance. Meanwhile, its profitability also improved. The company reported GAAP (Generally Accepted Accounting Principles) net profit of US$13.7 million in the latest quarter. This marked the third consecutive quarter of positive GAAP net profit for the company.

A big part of that progress comes from its QNX segment. The segment’s quarterly revenue jumped 10% YoY to US$68.7 million. This was the highest quarterly revenue in the division’s history.

BlackBerry’s secure communications segment also adds stability to its business model. Last quarter, it generated US$67 million in quarterly revenue and delivered US$17.3 million in adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization).

If QNX continues to expand and secure communications remain stable, BlackBerry stock has the potential to see strong upside in 2026 and beyond.

Telesat stock

After rallying over 20% in the last year, Telesat stock now trades at $38.18 per share and has a market capitalization of roughly $1.9 billion. Its recent results show some pressure, but the company is in the middle of a major strategic shift that could change its long-term outlook.

In the third quarter of 2025, Telesat’s consolidated revenue fell 27% YoY to $101 million. The decline was mainly due to lower renewal rates and contract expirations in its legacy geostationary satellite business. Nevertheless, its adjusted EBITDA came in at $47 million, representing a solid 46.3% margin.

Going forward, Telesat’s real growth story could be linked to Telesat Lightspeed, its planned low Earth orbit satellite constellation. At the end of the September 2025 quarter, its contracted backlog for Lightspeed stood at about $1.1 billion. That is higher than the $900 million backlog in its traditional geostationary business. This shift suggests that its future growth is expected to come from the newer platform.

Lightspeed is designed to deliver fibre-like speeds with lower latency compared to traditional satellites. It’s targeting telecom, government, maritime, and aviation customers. If Lightspeed is rolled out successfully and begins turning backlog into revenue, Telesat could emerge as a next-generation global connectivity provider, which could help its share price surge.