EchoStar Announces Financial Results for the Three and Six Months Ended June 30, 2025
EchoStar (NASDAQ: SATS) reported mixed Q2 2025 financial results with total revenue of $3.72 billion. The company's Wireless segment showed strong performance with 212,000 net subscriber additions and improved churn to 2.69%. Pay-TV achieved its lowest DISH TV churn (1.29%) in over a decade with 3% ARPU growth. Broadband & Satellite Services increased enterprise backlog by 8% to $1.6 billion.
Key segment revenues for Q2 2025: Pay-TV at $2.46 billion, Wireless at $935 million, and Broadband & Satellite Services at $340 million. However, the company reported a net loss of $306.1 million, higher than the $205.6 million loss in Q2 2024. Total OIBDA decreased to $279.6 million from $442.2 million year-over-year.
[ "Wireless segment added 212,000 net subscribers with 4.1% ARPU improvement", "DISH TV achieved lowest churn rate (1.29%) in over a decade with 3% ARPU growth", "Enterprise backlog increased 8% to $1.6B, driven by Aero sector gains", "Boost Mobile Network rated best in 5G Reliability and Coverage in 15 major markets" ]EchoStar (NASDAQ: SATS) ha riportato risultati finanziari contrastanti per il secondo trimestre del 2025 con un fatturato totale di 3,72 miliardi di dollari. Il segmento Wireless ha mostrato una forte crescita con 212.000 nuovi abbonati netti e un miglioramento del tasso di abbandono al 2,69%. Il Pay-TV ha registrato il tasso di abbandono pi霉 basso di DISH TV (1,29%) in oltre un decennio, accompagnato da una crescita dell'ARPU del 3%. I servizi Broadband & Satellite hanno aumentato il backlog aziendale dell'8%, raggiungendo 1,6 miliardi di dollari.
I ricavi chiave per segmento nel Q2 2025 sono stati: Pay-TV con 2,46 miliardi di dollari, Wireless con 935 milioni di dollari e Broadband & Satellite Services con 340 milioni di dollari. Tuttavia, la societ脿 ha riportato una perdita netta di 306,1 milioni di dollari, superiore ai 205,6 milioni di perdita del Q2 2024. L'OIBDA totale 猫 diminuito a 279,6 milioni di dollari rispetto ai 442,2 milioni dell'anno precedente.
- Il segmento Wireless ha aggiunto 212.000 abbonati netti con un miglioramento dell'ARPU del 4,1%
- DISH TV ha raggiunto il tasso di abbandono pi霉 basso (1,29%) in oltre un decennio con una crescita dell'ARPU del 3%
- Il backlog aziendale 猫 aumentato dell'8% a 1,6 miliardi di dollari, trainato dai guadagni nel settore Aero
- La rete Boost Mobile 猫 stata valutata come la migliore per affidabilit脿 e copertura 5G in 15 mercati principali
EchoStar (NASDAQ: SATS) report贸 resultados financieros mixtos en el segundo trimestre de 2025 con ingresos totales de 3.72 mil millones de d贸lares. El segmento Wireless mostr贸 un s贸lido desempe帽o con 212,000 nuevas suscripciones netas y una mejora en la tasa de cancelaci贸n al 2.69%. Pay-TV alcanz贸 su tasa de cancelaci贸n m谩s baja en DISH TV (1.29%) en m谩s de una d茅cada, con un crecimiento del ARPU del 3%. Los servicios de Broadband & Satellite incrementaron la cartera de pedidos empresarial en un 8%, llegando a 1.6 mil millones de d贸lares.
Los ingresos clave por segmento para el Q2 2025 fueron: Pay-TV con 2.46 mil millones de d贸lares, Wireless con 935 millones de d贸lares y Broadband & Satellite Services con 340 millones de d贸lares. Sin embargo, la compa帽铆a report贸 una p茅rdida neta de 306.1 millones de d贸lares, superior a la p茅rdida de 205.6 millones en el Q2 2024. El OIBDA total disminuy贸 a 279.6 millones de d贸lares desde 442.2 millones a帽o tras a帽o.
- El segmento Wireless a帽adi贸 212,000 suscriptores netos con una mejora del ARPU del 4.1%
- DISH TV alcanz贸 la tasa de cancelaci贸n m谩s baja (1.29%) en m谩s de una d茅cada con un crecimiento del ARPU del 3%
- La cartera de pedidos empresarial aument贸 un 8% a 1.6 mil millones de d贸lares, impulsada por ganancias en el sector Aero
- La red Boost Mobile fue calificada como la mejor en confiabilidad y cobertura 5G en 15 mercados principales
EchoStar (NASDAQ: SATS)電� 2025雲� 2攵勱赴 鞁れ爜鞐愳劀 齑� 毵れ稖鞎� 37鞏� 2觳滊 雼煬毳� 旮半頃橂┌ 順柬暕霅� 瓴瓣臣毳� 氤搓碃頄堨姷雼堧嫟. 氍挫劆(Wireless) 攵�氍胳潃 21毵� 2觳� 氇呾潣 靾� 臧�鞛呾瀽 歃濌皜鞕� 鞚错儓毳� 臧滌劆(2.69%)鞚� 氤挫澊氅� 臧曧暅 鞁れ爜鞚� 雮橅儉雰堨姷雼堧嫟. Pay-TV 攵�氍胳潃 歆�雮� 10雲勱皠 DISH TV 斓滌爛 鞚错儓毳�(1.29%)鞚� 旮半頄堦碃 ARPU電� 3% 靹膘灔頄堨姷雼堧嫟. 甏戨寑鞐� 氚� 鞙勳劚 靹滊箘鞀�(Broadband & Satellite Services)電� 旮办梾 靾橃＜ 鞛旉碃毳� 8% 歃濌皜鞁滌紲 16鞏� 雼煬鞐� 雼枅鞀惦媹雼�.
2025雲� 2攵勱赴 欤检殧 攵�氍鸽硠 毵れ稖鞚� Pay-TV臧� 24鞏� 6觳滊 雼煬, 氍挫劆鞚� 9鞏� 3觳� 5氚彪 雼煬, 甏戨寑鞐� 氚� 鞙勳劚 靹滊箘鞀り皜 3鞏� 4觳滊 雼煬鞓�鞀惦媹雼�. 頃橃毵� 靾滌啇鞁れ潃 3鞏� 610毵� 锟斤拷霟�搿� 2024雲� 2攵勱赴 靻愳嫟 2鞏� 560毵� 雼煬氤措嫟 歃濌皜頄堨姷雼堧嫟. 齑� OIBDA電� 鞝勲厔 霃欔赴 雽�牍� 2鞏� 7,960毵� 雼煬搿� 臧愳唽頄堨姷雼堧嫟.
- 氍挫劆 攵�氍胳潃 21毵� 2觳� 氇呾潣 靾� 臧�鞛呾瀽毳� 於旉皜頃橁碃 ARPU電� 4.1% 頄レ儊
- DISH TV電� 歆�雮� 10雲勱皠 斓滌爛 鞚错儓毳�(1.29%)瓿� 3% ARPU 靹膘灔 雼劚
- 旮办梾 靾橃＜ 鞛旉碃電� Aero 攵�氍� 靹膘灔鞐� 頌橃瀰鞏� 8% 歃濌皜頃� 16鞏� 雼煬 旮半
- Boost Mobile 雱ろ姼鞗岉伂電� 15臧� 欤检殧 鞁滌灔鞐愳劀 5G 鞁犽靹标臣 旎る矂毽 攵�氍� 斓滉碃 韽夑皜
EchoStar (NASDAQ : SATS) a publi茅 des r茅sultats financiers mitig茅s pour le deuxi猫me trimestre 2025 avec un chiffre d'affaires total de 3,72 milliards de dollars. Le segment sans fil a montr茅 une forte performance avec 212 000 nouveaux abonn茅s nets et une am茅lioration du taux de d茅sabonnement 脿 2,69 %. La t茅l茅vision payante a atteint son taux de d茅sabonnement le plus bas (1,29 %) en plus d'une d茅cennie, avec une croissance de l'ARPU de 3 %. Les services haut d茅bit et satellite ont augment茅 le carnet de commandes de l'entreprise de 8 % pour atteindre 1,6 milliard de dollars.
Les revenus cl茅s par segment pour le T2 2025 : t茅l茅vision payante 脿 2,46 milliards de dollars, sans fil 脿 935 millions de dollars et services haut d茅bit et satellite 脿 340 millions de dollars. Cependant, la soci茅t茅 a enregistr茅 une perte nette de 306,1 millions de dollars, sup茅rieure 脿 la perte de 205,6 millions au T2 2024. L'OIBDA total a diminu茅 脿 279,6 millions de dollars contre 442,2 millions d'une ann茅e sur l'autre.
- Le segment sans fil a ajout茅 212 000 abonn茅s nets avec une am茅lioration de l'ARPU de 4,1 %
- DISH TV a atteint le taux de d茅sabonnement le plus bas (1,29 %) en plus d'une d茅cennie avec une croissance de l'ARPU de 3 %
- Le carnet de commandes de l'entreprise a augment茅 de 8 % pour atteindre 1,6 milliard de dollars, port茅 par les gains dans le secteur Aero
- Le r茅seau Boost Mobile a 茅t茅 class茅 meilleur en fiabilit茅 et couverture 5G dans 15 march茅s majeurs
EchoStar (NASDAQ: SATS) meldete gemischte Finanzergebnisse f眉r das zweite Quartal 2025 mit einem Gesamtumsatz von 3,72 Milliarden US-Dollar. Das Wireless-Segment zeigte starke Leistungen mit 212.000 Nettoneukunden und verbesserter Abwanderungsrate von 2,69%. Pay-TV erreichte die niedrigste DISH TV-Abwanderungsrate (1,29%) seit 眉ber einem Jahrzehnt bei 3% ARPU-Wachstum. Broadband & Satellite Services steigerte den Unternehmensauftragsbestand um 8% auf 1,6 Milliarden US-Dollar.
Wichtige Segmentums盲tze f眉r Q2 2025: Pay-TV mit 2,46 Milliarden US-Dollar, Wireless mit 935 Millionen US-Dollar und Broadband & Satellite Services mit 340 Millionen US-Dollar. Das Unternehmen meldete jedoch einen Nettoverlust von 306,1 Millionen US-Dollar, h枚her als der Verlust von 205,6 Millionen im Q2 2024. Das Gesamt-OIBDA sank von 442,2 Millionen auf 279,6 Millionen US-Dollar im Jahresvergleich.
- Das Wireless-Segment gewann 212.000 Nettokunden mit einer ARPU-Steigerung von 4,1%
- DISH TV erreichte die niedrigste Abwanderungsrate (1,29%) seit 眉ber einem Jahrzehnt mit 3% ARPU-Wachstum
- Der Unternehmensauftragsbestand stieg um 8% auf 1,6 Milliarden US-Dollar, angetrieben durch Zuw盲chse im Aero-Sektor
- Das Boost Mobile-Netz wurde in 15 wichtigen M盲rkten als das beste in 5G-Zuverl盲ssigkeit und -Abdeckung bewertet
- None.
- Net loss increased to $306.1 million from $205.6 million year-over-year
- Total revenue declined to $3.72B from $3.95B in Q2 2024
- OIBDA decreased to $279.6M from $442.2M year-over-year
- Wireless segment operating loss widened to $772.9M from $700.3M in Q2 2024
Insights
EchoStar reports mixed Q2 results with wireless subscriber growth but widening losses and declining revenue across segments.
EchoStar's Q2 2025 earnings reveal contradictory performance signals across its three main business segments. While the company highlighted several positive operational metrics, the financial fundamentals show concerning trends.
The wireless segment demonstrated solid subscriber growth with +212K net adds, bringing total subscribers to 7.36 million. Churn improved by 24 basis points year-over-year, and ARPU increased by 4.1%, which the company claims is the highest in the prepaid industry. However, despite these operational improvements, wireless segment revenue of
For Pay-TV, which remains the company's largest revenue generator at
The company's Broadband & Satellite Services segment is facing challenges with revenue of
Most concerning is the company's overall net loss of
The wireless segment's heavy capital expenditures of
- Wireless: Net subscriber growth (+212K), improved churn (
2.69% , an improvement of 24 basis points year-over-year), improved average revenue per user (ARPU) (4.1% year-over-year) and the highest prepaid ARPU in the industry. - Pay TV: Lowest DISH TV churn (
1.29% ) in over a decade (excluding the pandemic), growth in ARPU (+3% year-over-year) and increased viewership engagement (hours/viewer). - Broadband & Satellite Services: Increased enterprise order backlog (future revenues) by
8% to$1.6B
The company's unabated focus on driving operational efficiencies, exceptional customer experiences and profitable growth investment continues to deliver results across the enterprise and听reconfirms the company's plan to deliver positive Operating Free Cash Flow, as previously defined. EchoStar's assets across satellite, wireless, video, managed services and
"EchoStar performed well in the second quarter and was in line with our high performance expectations," said Hamid Akhavan, president and CEO, EchoStar Corporation. "Our Retail Wireless business continues to make progress and we have now had five consecutive quarters of growth with our Boost Mobile brand. Our Pay-TV ARPU and churn rate improvement continues to impress, and our enterprise business is gaining ground globally within the aviation sector as the industry's only future-proof in-flight connectivity solution."
Wireless
Wireless consists predominantly of Boost Mobile and network wireless services, and delivered approximately
- Continued strong performance fueled by +212K subscriber net adds in Q2, closing the quarter with approximately 7.36 million total subscribers
- Attracted and retained high-quality customers, contributing to a 24 basis point improvement in churn year-over-year
- Mix in subscribers with higher priced plans and higher sales of value-added services drove
4.1% improvement in ARPU year-over-year 鈥� the highest pre-paid ARPU in the industry - Boost Mobile Network rated best in 5G Reliability and 5G Coverage in
Atlanta ;Charlotte, N.C. ;Cincinnati ;Cleveland ;Columbus, Ohio ;Dallas-Fort Worth ;Detroit ;Houston ;Miami ;New York City ;Orlando, Fla. ;Philadelphia ;Raleigh, N.C ;St. Louis ; and its hometown market ofDenver by OpenSignal
Pay-TV
Pay TV consists of DISH TV and Sling TV. Performance for Pay-TV delivered approximately
- Continued focus on operational efficiency, higher priced programming packages per subscriber and improved user experiences helped increase ARPU (+
3% ) - Customer loyalty and high-quality subscribers further reduced DISH TV churn (
1.29% ) and drove a 10 basis point reduction in churn year-over-year - Pay-TV closed the quarter with approximately 7.11 million subscribers
Broadband & Satellite Services
Broadband & Satellite Services consists predominantly of the Hughes enterprise and consumer family of brands and delivered approximately
- Announced membership in Airbus HBCplus program enhancing ability to serve airlines as a factory line fit option at Airbus
- Approximately
$1.6 billion 5% year-over-year) - Broadband & Satellite Services closed the quarter with approximately 819,000 subscribers
Set forth below is a table highlighting certain of EchoStar's segment results for the three and six months ended June 30, 2025 and 2024 (all
For the Three Months Ended | For the Six Months Ended | ||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||
(in thousands) | |||||||||||
Revenue | |||||||||||
Pay-TV | $ | 2,462,249 | $ | 2,676,284 | $ | 5,000,976 | $ | 5,402,862 | |||
Wireless | 934,631 | 892,728 | 1,907,406 | 1,806,734 | |||||||
Broadband and Satellite Services | 339,780 | 394,011 | 710,438 | 776,597 | |||||||
All Other & Eliminations | (11,701) | (10,272) | (24,103) | (18,599) | |||||||
Total | $ | 3,724,959 | $ | 3,952,751 | $ | 7,594,717 | $ | 7,967,594 | |||
Net Income (loss) attributable to EchoStar | $ | (306,132) | $ | (205,591) | $ | (508,801) | $ | (312,967) | |||
OIBDA | |||||||||||
Pay-TV | $ | 663,377 | $ | 753,001 | $ | 1,393,250 | $ | 1,508,511 | |||
Wireless | (451,980) | (394,439) | (867,044) | (757,935) | |||||||
Broadband and Satellite Services | 67,699 | 82,392 | 153,402 | 161,679 | |||||||
All Other & Eliminations | 551 | 1,202 | 240 | 57 | |||||||
Total | $ | 279,647 | $ | 442,156 | $ | 679,848 | $ | 912,312 | |||
Purchases of property and equipment, net of refunds, (including capitalized | |||||||||||
Pay-TV | $ | 78,580 | $ | 54,006 | $ | 140,968 | $ | 111,918 | |||
Wireless | 625,203 | 560,468 | 909,196 | 1,109,641 | |||||||
Broadband and Satellite Services | 43,118 | 56,559 | 75,221 | 127,170 | |||||||
$ | 746,901 | $ | 671,033 | $ | 1,125,385 | $ | 1,348,729 | ||||
听
Reconciliation of GAAP to Non-GAAP Measurement:
For the Three Months听Ended听 | Pay-TV | Wireless | Broadband and | Consolidated听 | |||||||||||
Eliminations | |||||||||||||||
(In听thousands) | |||||||||||||||
Segment operating income (loss) | $ | 595,552 | $ | (772,948) | $ | (36,738) | $ | 726 | $ | (213,408) | |||||
Depreciation and amortization | 67,825 | 320,968 | 104,437 | (175) | 493,055 | ||||||||||
OIBDA | $ | 663,377 | $ | (451,980) | $ | 67,699 | $ | 551 | $ | 279,647 | |||||
For the Three Months听Ended听 | |||||||||||||||
Segment operating income (loss) | $ | 667,752 | $ | (700,302) | $ | (34,586) | $ | 1,767 | $ | (65,369) | |||||
Depreciation and amortization | 85,249 | 305,863 | 116,978 | (565) | 507,525 | ||||||||||
OIBDA | $ | 753,001 | $ | (394,439) | $ | 82,392 | $ | 1,202 | $ | 442,156 | |||||
For the Six Months听Ended听 | Pay-TV | Wireless | Broadband and Satellite Services | Consolidated听 | |||||||||||
Eliminations | |||||||||||||||
(In听thousands) | |||||||||||||||
Segment operating income (loss) | $ | 1,248,982 | $ | (1,495,250) | $ | (55,933) | $ | 661 | $ | (301,540) | |||||
Depreciation and amortization | 144,268 | 628,206 | 209,335 | (421) | 981,388 | ||||||||||
OIBDA | $ | 1,393,250 | $ | (867,044) | $ | 153,402 | $ | 240 | $ | 679,848 | |||||
For the Six Months听Ended听 | |||||||||||||||
Segment operating income (loss) | $ | 1,337,860 | $ | (1,345,470) | $ | (74,140) | $ | 1,137 | $ | (80,613) | |||||
Depreciation and amortization | 170,651 | 587,535 | 235,819 | (1,080) | 992,925 | ||||||||||
OIBDA | $ | 1,508,511 | $ | (757,935) | $ | 161,679 | $ | 57 | $ | 912,312 | |||||
Note on Use of Non-GAAP Financial Measures
OIBDA is defined as "Operating income (loss)" plus "Depreciation and amortization."
OIBDA, which is presented by segment above, is a non-GAAP measure reconciled to "Operating income (loss)" and does not purport to be an alternative to operating income (loss) as a measure of operating performance. We believe this measure is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments on a more variable cost basis as it excludes the depreciation and amortization expenses related primarily to capital expenditures and acquisitions for those business segments, as well as in evaluating operating performance in relation to our competitors.
The condensed consolidated financial statements of EchoStar for the period ended June 30, 2025, are attached to this press release. Detailed financial data and other information are available in EchoStar's Form 10-Q for the period ended June 30, 2025, filed today with the Securities and Exchange Commission.
EchoStar will host a conference call to discuss its earnings on Day, August 1, 2025, at 12 p.m. Eastern Time. The conference call will be broadcast live in listen-only mode on EchoStar's investor relations website at ir.echostar.com. To attend the call, please dial: (888) 484-6065 (
About EchoStar Corporation
EchoStar Corporation (Nasdaq: SATS) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar庐, Boost Mobile庐, Sling TV, DISH TV, Hughes庐, HughesNet庐, HughesON鈩�, and JUPITER鈩� brands. In
Safe Harbor Statement under the US Private Securities Litigation Reform Act of 1995
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "goal," "seek," "estimate," "expect," "intend," "project," "continue," "future," "will," "would," "can," "may," "plans," and similar expressions and the use of future dates are intended to identify forward鈥搇ooking statements. Although management believes that the expectations reflected in these forward鈥搇ooking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. We assume no responsibility for the accuracy of forward-looking statements or information or for updating forward-looking information or statements. These statements are subject to certain risks, uncertainties, and assumptions. See "Risk Factors" in EchoStar's Annual Report on Form 10-K for the period ended December 31, 2024, and subsequent quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission and in the other documents EchoStar files with the Securities and Exchange Commission from time to time.
ECHOSTAR CORPORATION | |||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
(Dollars in thousands, except share amounts) | |||||||
(Unaudited) | |||||||
As听of听听 | |||||||
听June 30,听 | December 31, | ||||||
2025 | 2024 | ||||||
Assets | |||||||
Current Assets: | |||||||
Cash and cash equivalents | $ | 2,345,085 | $ | 4,305,393 | |||
Current restricted cash, cash equivalents and marketable investment securities | 184,012 | 150,898 | |||||
Marketable investment securities | 1,988,001 | 1,242,036 | |||||
Trade accounts receivable, net of allowance for credit losses of | 1,158,592 | 1,198,731 | |||||
Inventory | 375,118 | 455,197 | |||||
Prepaids and other assets | 771,171 | 655,233 | |||||
Other current assets | 94,247 | 88,255 | |||||
Total current assets | 6,916,226 | 8,095,743 | |||||
Noncurrent Assets: | |||||||
Restricted cash, cash equivalents and marketable investment securities听 | 176,004 | 169,627 | |||||
Property and equipment, net听 | 8,773,656 | 9,187,132 | |||||
Regulatory authorizations, net | 40,029,923 | 39,442,166 | |||||
Other investments, net | 191,792 | 202,327 | |||||
Operating lease assets | 3,218,062 | 3,260,768 | |||||
Intangible assets, net听 | 66,903 | 74,939 | |||||
Other noncurrent assets, net | 509,831 | 505,985 | |||||
Total noncurrent assets | 52,966,171 | 52,842,944 | |||||
Total assets | $ | 59,882,397 | $ | 60,938,687 | |||
Liabilities and Stockholders' Equity (Deficit) | |||||||
Current Liabilities: | |||||||
Trade accounts payable | $ | 745,587 | $ | 740,984 | |||
Deferred revenue and other | 638,989 | 650,940 | |||||
Accrued programming | 1,251,114 | 1,339,072 | |||||
Accrued interest | 308,917 | 352,499 | |||||
Other accrued expenses and liabilities | 1,675,958 | 1,804,516 | |||||
Current portion of debt, finance lease and other obligations | 1,053,230 | 943,029 | |||||
Total current liabilities | 5,673,795 | 5,831,040 | |||||
Long-Term Obligations, Net of Current Portion: | |||||||
Long-term debt, finance lease and other obligations, net of current portion | 25,401,688 | 25,660,288 | |||||
Deferred tax liabilities, net | 4,809,572 | 4,988,653 | |||||
Operating lease liabilities听 | 3,178,737 | 3,211,407 | |||||
Long-term deferred revenue and other long-term liabilities | 1,027,111 | 1,002,074 | |||||
Total long-term obligations, net of current portion | 34,417,108 | 34,862,422 | |||||
Total liabilities | 40,090,903 | 40,693,462 | |||||
Commitments and Contingencies | |||||||
Stockholders' Equity (Deficit):听 | |||||||
Class A common stock, 156,299,276 and 155,048,676 shares issued and outstanding, respectively | 156 | 155 | |||||
Class B common stock, 131,348,468 shares issued and outstanding | 131 | 131 | |||||
Additional paid-in capital | 8,809,264 | 8,768,360 | |||||
Accumulated other comprehensive income (loss) | (183,181) | (195,711) | |||||
Accumulated earnings (deficit) | 11,109,636 | 11,618,437 | |||||
Total EchoStar stockholders' equity (deficit) | 19,736,006 | 20,191,372 | |||||
Noncontrolling interests | 55,488 | 53,853 | |||||
Total stockholders' equity (deficit) | 19,791,494 | 20,245,225 | |||||
Total liabilities and stockholders' equity (deficit) | $ | 59,882,397 | $ | 60,938,687 | |||
听
ECHOSTAR CORPORATION | |||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS听 | |||||||||||
(Dollars in thousands, except per share amounts) | |||||||||||
(Unaudited) | |||||||||||
For听the Three Months Ended June 30,听 | For听the Six Months Ended June 30,听 | ||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||
Revenue: | |||||||||||
Service revenue | $ | 3,540,107 | $ | 3,742,086 | $ | 7,146,263 | $ | 7,561,755 | |||
Equipment sales and other revenue | 184,852 | 210,665 | 448,454 | 405,839 | |||||||
Total revenue | 3,724,959 | 3,952,751 | 7,594,717 | 7,967,594 | |||||||
Costs and Expenses (exclusive of depreciation and amortization): | |||||||||||
Cost of services | 2,461,631 | 2,507,478 | 4,893,829 | 5,064,660 | |||||||
Cost of sales - equipment and other听 | 354,187 | 408,093 | 793,695 | 771,176 | |||||||
Selling, general and administrative expenses | 629,494 | 595,024 | 1,227,345 | 1,219,446 | |||||||
Depreciation and amortization听 | 493,055 | 507,525 | 981,388 | 992,925 | |||||||
Total costs and expenses | 3,938,367 | 4,018,120 | 7,896,257 | 8,048,207 | |||||||
Operating income (loss) | (213,408) | (65,369) | (301,540) | (80,613) | |||||||
Other Income (Expense): | |||||||||||
Interest income | 65,369 | 13,929 | 130,898 | 44,391 | |||||||
Interest expense, net of amounts capitalized | (279,232) | (81,166) | (565,287) | (180,574) | |||||||
Other, net | 35,137 | (91,498) | 76,527 | (117,608) | |||||||
Total other income (expense) | (178,726) | (158,735) | (357,862) | (253,791) | |||||||
Income (loss) before income taxes | (392,134) | (224,104) | (659,402) | (334,404) | |||||||
Income tax (provision) benefit, net | 85,290 | 16,646 | 149,277 | 18,571 | |||||||
Net income (loss) | (306,844) | (207,458) | (510,125) | (315,833) | |||||||
Less: Net income (loss) attributable to noncontrolling interests, net of tax | (712) | (1,867) | (1,324) | (2,866) | |||||||
Net income (loss) attributable to EchoStar | $ | (306,132) | $ | (205,591) | $ | (508,801) | $ | (312,967) | |||
Weighted-average common shares outstanding - Class A and B | |||||||||||
Basic | 287,505 | 271,592 | 287,012 | 271,555 | |||||||
Diluted | 287,505 | 271,592 | 287,012 | 271,555 | |||||||
Earnings per share - Class A and B common stock: | |||||||||||
Basic net income (loss) per share attributable to EchoStar | $ | (1.06) | $ | (0.76) | $ | (1.77) | $ | (1.15) | |||
Diluted net income (loss) per share attributable to EchoStar | $ | (1.06) | $ | (0.76) | $ | (1.77) | $ | (1.15) | |||
听
ECHOSTAR CORPORATION | ||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
(In thousands)听 | ||||||
(Unaudited) | ||||||
For the Six Months Ended | ||||||
June听30,听 | ||||||
2025 | 2024 | |||||
Cash Flows From Operating Activities: | ||||||
Net income (loss) | $ | (510,125) | $ | (315,833) | ||
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||||||
Depreciation and amortization | 981,388 | 992,925 | ||||
AG真人官方ized and unrealized losses (gains) on investments, impairments and other | (64,831) | 49,312 | ||||
Non-cash, stock-based compensation | 16,123 | 19,693 | ||||
Deferred tax expense (benefit) | (174,719) | (35,300) | ||||
Changes in allowance for credit losses | 15,603 | 33,108 | ||||
Change in long-term deferred revenue and other long-term liabilities | 420 | 8,139 | ||||
Other, net | 115,365 | 125,969 | ||||
Changes in operating assets and operating liabilities, net | (164,957) | 52,971 | ||||
Net cash flows from operating activities | 214,267 | 930,984 | ||||
Cash Flows From Investing Activities: | ||||||
Purchases of marketable investment securities | (2,247,724) | (21,847) | ||||
Sales and maturities of marketable investment securities | 1,526,245 | 501,512 | ||||
Purchases of property and equipment | (551,600) | (866,922) | ||||
Capitalized interest related to regulatory authorizations | (573,785) | (481,807) | ||||
Purchases of regulatory authorizations, including deposits听 | 鈥� | (1,104) | ||||
Sale of assets to CONX | 鈥� | 26,719 | ||||
Sale of Fiber business | 47,207 | 鈥� | ||||
Other, net | (64) | (4,716) | ||||
Net cash flows from investing activities | (1,799,721) | (848,165) | ||||
Cash Flows From Financing Activities: | ||||||
Repayment of long-term debt, finance lease and other obligations | (46,272) | (52,758) | ||||
Redemption and repurchases of term loans, convertible and senior notes | (456,049) | (951,170) | ||||
Proceeds from issuance of convertible and senior notes | 150,000 | 鈥� | ||||
Debt issuance costs and debt (discount) premium | (946) | 鈥� | ||||
Early debt extinguishment gains (losses) of convertible and senior notes | 11,465 | 鈥� | ||||
Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan | 6,994 | 1,832 | ||||
Purchase of SNR Management's ownership interest in SNR HoldCo | 鈥� | (441,998) | ||||
Other, net | (31,189) | 2 | ||||
Net cash flows from financing activities听 | (365,997) | (1,444,092) | ||||
Effect of exchange rates on cash and cash equivalents | 2,965 | (3,701) | ||||
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents | (1,948,486) | (1,364,974) | ||||
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period | 4,593,804 | 1,911,601 | ||||
Cash, cash equivalents, restricted cash and cash equivalents, end of period | $ | 2,645,318 | $ | 546,627 | ||
听
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