Dish/Echostar 1st Quarter Report

[Bruce]

Total Revenue: $3,869.8 million, reflecting a decrease from the previous year's $4,014.8 million, primarily due to a decline in Service revenue.

Operating Income (Loss): $(88.1) million, compared to $(15.2) million in the prior year, indicating increased operating expenses.

Net Income (Loss): $(203.3) million, a significant decline from $(108.4) million in the previous year, impacted by higher interest expenses.

Lost 383,000 TV Subscribers-

Dish lost 187,000

Sling lost 196,000

Broadband (Hughes mostly) lost 30,000

Cell Phone gained 150,000, but they only have, basically, 7.1 Million subscribers, they need millions of new subscribers, still down almost 2 Million from when Dish took it over

EchoStar CORP SEC 10-Q Report

EchoStar Corporation, a leading provider of satellite communication solutions and services, has released its Form 10-Q report for the first quarter of 2025. The report highlights the company's financial performance and operational activities, providing insights into its revenue streams, business se…

www.tradingview.com

https://ir.echostar.com/static-files/d8a5930b-9a28-4998-8e3f-ad737aff8217

 

[Scott Greczkowski]

To view this release online and get more information about DISH News Alerts visit: EchoStar Announces Financial Results for the Three Months Ended March 31, 2025

EchoStar Announces Financial Results for the Three Months Ended March 31, 2025

• Wireless: Net subscriber growth (+150K), improved churn (7.2% year-over-year), filed Federal Communication Commission (FCC) certification of more than 24,000 5G constructed "on-air" sites one month ahead of schedule
• Pay TV: Lowest DISH TV churn (1.36%) in over a decade (excluding the pandemic), growth in average revenue per user (ARPU) (+3% year-over-year)
• Broadband & Satellite Services: Enhanced in-flight offerings through universal Ka- and Ku-bands, new international contracts for managed network services, expanded enterprise backlog (+5% year-over-year)

ENGLEWOOD, Colo., May 9, 2025 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) announced its financial results for the three months ended March 31, 2025.
The company continued to build on the solid foundation laid last year as a global leader in connectivity and entertainment solutions and services. The business drove efficiencies across all of its brands and invested in profitable growth. EchoStar's unique set of assets across satellite, wireless, video, managed services and U.S.-based manufacturing led to improvements in many key metrics and reported total revenue of $3.87 billion for the first quarter 2025.
"The EchoStar team performed well against our plan in the first quarter," said Hamid Akhavan, president and CEO, EchoStar Corporation. "We are pleased with the progress of our Wireless business and year-over-year net add subscriber growth. In addition, our Pay-TV segment continues to drive improvements in ARPU and churn, and our in-flight connectivity business advances, scaling and driving interest from airlines worldwide."
Wireless
Wireless consists predominantly of Boost Mobile and network wireless services, and delivered approximately $973 million in revenue for the first quarter.

• Continued strong performance fueled by +150K subscriber net adds in Q1
• Attracted and retained high-quality customers, contributing to a 7.2% churn improvement year-over-year
• Boost Mobile Network recognized as #1 mobile network in New York City by an independent, third-party industry benchmarking expert
• Met 3GPP release 17 deployment and completed construction of 24,000 5G sites "on air" ahead of June FCC requirement date
• More than 1.25 million customers on Boost Mobile Network, and loading more than 75% of compatible devices on-net in accelerated markets
• Wireless closed the quarter with approximately 7.15 million subscribers

Pay-TV
Pay TV consists of DISH TV and Sling TV. Performance for Pay-TV was in line with expectations and delivered approximately $2.5 billion in revenue for the first quarter.

• Focused on operational efficiency, customer loyalty, and improving user experiences to help increase ARPU (+3%) and reduce non-programming variable costs per subscriber
• Loyalty and bundled offerings delivered lowest DISH TV churn (1.36%) in over a decade (excluding the pandemic), an 11% reduction year-over-year
• Pay-TV closed the quarter with approximately 7.4 million subscribers

Broadband & Satellite Services
Broadband & Satellite Services consists predominantly of the Hughes enterprise and consumer family of brands and delivered approximately $371 million in revenue for the first quarter.

• In-flight connectivity business announced universal compatibility with Ka- and Ku-bands, providing greater interoperability compared to single constellation systems in the market, enabling cost-effective flexibility and an optimal passenger experience
• Announced membership in Airbus HBCplus program enhancing ability to serve airlines as a factory line fit option at Airbus
• Completed Latin American deployment of multi-orbit managed network to support private networks and security services on LEO and geostationary Earth orbit (GEO) satellites
• Approximately $1.6 billion contracted backlog revenue at the end of Q1 (+5% year-over-year)
• Broadband & Satellite Services closed the quarter with approximately 853,000 subscribers

Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended March 31, 2025 and 2024 (all U.S. GAAP amounts reference results from operations):

For the Three Months Ended March 31,​
2025​	2024​
(in thousands)​
Revenue
Pay-TV	$ 2,538,727​	$ 2,726,578​
Wireless	972,775​	914,006​
Broadband and Satellite Services	370,658​	382,586​
All Other & Eliminations	(12,402)​	(8,327)​
Total	$ 3,869,758​	$ 4,014,843​
Net Income (loss) attributable to EchoStar	$ (202,669)​	$ (107,376)​
OIBDA
Pay-TV	$ 729,873​	$ 755,510​
Wireless	(415,064)​	(363,496)​
Broadband and Satellite Services	85,703​	79,287​
All Other & Eliminations	(311)​	(1,145)​
Total	$ 400,201​	$ 470,156​
Purchases of property and equipment, net of refunds, (including capitalized interest related to regulatory authorizations)
Pay-TV	$ 62,388​	$ 57,912​
Wireless	283,993​	549,173​
Broadband and Satellite Services	32,103​	70,611​
Total	$ 378,484​	$ 677,696​

Reconciliation of GAAP to Non-GAAP Measurement:

For the Three Months Ended March 31, 2025	Pay-TV​	Wireless​	Broadband and Satellite Services​	Eliminations​	Consolidated ​
(In thousands)​
Segment operating income (loss)	$​	653,430​	$​	(722,302)​	$​	(19,195)​	$​	(65)​	$​	(88,132)​
Depreciation and amortization	76,443​	307,238​	104,898​	(246)​	488,333​
OIBDA	$​	729,873​	$​	(415,064)​	$​	85,703​	$​	(311)​	$​	400,201​
For the Three Months Ended March 31, 2024
Segment operating income (loss)	$​	670,108​	$​	(645,168)​	$​	(39,554)​	$​	(630)​	$​	(15,244)​
Depreciation and amortization	85,402​	281,672​	118,841​	(515)​	485,400​
OIBDA	$​	755,510​	$​	(363,496)​	$​	79,287​	$​	(1,145)​	$​	470,156​

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 March 31, 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 March 31, 2025, filed today with the Securities and Exchange Commission.
EchoStar will host a conference call to discuss its earnings on Friday, May 9, 2025, at 11 a.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: (877) 484-6065 (U.S.) or (201) 689-8846. When prompted on dial-in, please utilize the conference ID (13753677) or ask for the "EchoStar Corporation Q1 2025 Earnings Conference Call." Please dial in at least 10 minutes before the call to ensure timely participation.

 

[Bruce]

• Pay-TV closed the quarter with approximately 7.4 million subscribers

Which means, if the number is correct, that YTTV, at 9.4 Million, has 2 Million more than Dish/Sling Combined.

A TV Provider that has been in service for 29 years, is getting beaten by one only providing service for 8 years.

Dish needs to make changes fast, specially since TV Revenue is down, even with the price increase-

Pay TV Total Revenue Q4, 2024 was $2,667,311

Pay TV Total Revenue Q1, 2025 is $2,538,727

I expect 2nd Quarter numbers to be worse, especially Sling, because of DirecTV's Genre Packs, which start at $35, now that DirecTV is marketing them and has emerged as the Value Price Leader.

I also expect YTTV, Hulu Live and all other Streaming Live TV Providers to show losses, due to those same genre packs.

 

[dishdude]

Wild that even Sling is down almost 200k, lost more subs than Dish!

 

[Bruce]

Wild that even Sling is down almost 200k, lost more subs than Dish!

Again, because of those Genre Packs DirecTV is providing, Sling is $10.99
more then DirecTV's MyEntertainment package, the value subscribers are heading over there.

 

[navychop]

What could Dish do to reverse the tide?

 

[Bobby]

What could Dish do to reverse the tide?

Put a red recording light on the Hopper 3????

 

[Bruce]

What could Dish do to reverse the tide?

We did not believe DirecTV could either, but they are trying with lower prices and options, you even can avoid the box fees.

But the better question is, why is Dish not trying to reverse the tide.

Is what DirecTV doing helping, too early to know, but at least they are not the deer, standing in the road, waiting for the automobile to hit it.

Will being a Cell Phone Company work

Considering the extremely large subscribers difference, if Boost Mobile started to pick up a vast amount of subs, the top 3 will initiate a price war and snuff them out-

Here's a more detailed breakdown:

• Verizon: As of Q1 2025, Verizon leads the U.S. wireless market with 146 million subscribers.
  
  
• T-Mobile: T-Mobile is the second-largest carrier with 131 million subscribers in Q1 2025.
  
  
• AT&T Mobility: AT&T Mobility follows with 118 million subscribers as of Q1 2025.
  
  
• Boost Mobile: Boost Mobile has 7.2 million subscribers as of Q1 2025

If they are counting on 5G Broadband, the other companies have too big of a head start.