Telecommunications firm EchoStar Corp. (NASDAQ:SATS) said on Thursday, it will sell more wireless spectrum licenses to SpaceX for about $2.6 billion in exchange for stock in the Elon Musk-backed company that owns the Starlink satellite internet network. The announcement is an extension to the $17 billion deal the companies struck in September, which will close after receiving regulatory approval. The AWS-3 licenses cover airwaves across the U.S. that can be used to support mobile and satellite communication ...

Core Viewpoint - EchoStar is set to sell wireless spectrum licenses to SpaceX for approximately $2.6 billion, receiving stock in return, which builds upon a previous $17 billion agreement between the two companies [1] Group 1 - The transaction involves the exchange of wireless spectrum licenses, indicating a strategic move to enhance SpaceX's capabilities in the telecommunications sector [1] - The deal reflects a growing trend of collaboration between satellite and telecommunications companies, aiming to leverage each other's strengths [1] - The financial terms of the deal highlight the significant valuation placed on spectrum assets in the current market environment [1] Group 2 - This transaction is part of a broader strategy by EchoStar to optimize its asset portfolio and focus on core business areas [1] - The partnership with SpaceX may provide EchoStar with potential growth opportunities in the rapidly evolving space and telecommunications industry [1] - The previous $17 billion deal suggests a long-term commitment between the two companies, indicating confidence in future synergies [1]

Core Insights - EchoStar Corporation announced its financial results for Q3 and nine months ended September 30, 2025, alongside the formation of EchoStar Capital to drive future growth through new business investments [2][4] - The company executed two significant spectrum transactions with AT&T for $22.65 billion and SpaceX for $19 billion, which helped meet FCC requirements for 5G network buildout [3][4] - EchoStar reported a total revenue of $3.61 billion for Q3 2025, a decrease from $3.89 billion in Q3 2024, and $11.21 billion for the nine months ended September 30, 2025, compared to $11.86 billion in the same period of 2024 [7][11] Financial Performance - Wireless segment revenue was approximately $939 million for Q3 2025, with a net subscriber growth of 223,000, improved churn at 2.86%, and a 2.6% increase in average revenue per user (ARPU) year-over-year [5][8] - Pay-TV segment, including DISH TV and Sling TV, generated approximately $2.34 billion in revenue for Q3 2025, with a historic low churn rate of 1.33% and a 1% increase in ARPU year-over-year [6][9] - Broadband & Satellite Services reported approximately $346 million in revenue for Q3 2025, with a contracted backlog revenue of $1.5 billion [10][12] Strategic Developments - EchoStar Capital will utilize capital from recent spectrum transactions to explore new growth opportunities beyond existing business units [4] - The company is undergoing a significant impairment charge of $16.48 billion due to the abandonment of certain 5G network assets not aligned with its hybrid MNO business model [4] - Hamid Akhavan has been appointed CEO of EchoStar Capital, while Charlie Ergen continues as President and CEO of EchoStar Corporation [4] Segment Results - For Q3 2025, Pay-TV revenue was $2.34 billion, down from $2.62 billion in Q3 2024, while Wireless revenue increased from $898 million to $939 million [11] - The Broadband & Satellite Services segment saw a revenue decline from $386 million in Q3 2024 to $346 million in Q3 2025 [11] - The total net income attributable to EchoStar for Q3 2025 was a loss of $12.78 billion, compared to a loss of $141.81 million in Q3 2024 [11][23]

Financial Performance - Total revenue for Q3 2025 was $3,614,258, a decrease of 7.1% from $3,890,984 in Q3 2024[23] - Service revenue decreased to $3,427,947 in Q3 2025, down 6.6% from $3,671,674 in Q3 2024[23] - Net loss attributable to EchoStar for Q3 2025 was $12,781,196, compared to a loss of $141,812 in Q3 2024[23] - Operating loss for Q3 2025 was $16,641,875, significantly higher than the loss of $160,767 in Q3 2024[23] - Basic net loss per share attributable to EchoStar was $(44.37) in Q3 2025, compared to $(0.52) in Q3 2024[23] - For the nine months ended September 30, 2025, EchoStar reported a net loss of $13.29 million compared to a net loss of $459,634 for the same period in 2024[29] - Net cash flows from operating activities decreased to $325,948 from $1.21 million year-over-year[29] - The company experienced a significant increase in impairments, totaling $16.48 million in 2025, compared to none in 2024[29] Assets and Liabilities - Total current assets decreased to $6,032,290 as of September 30, 2025, down from $8,095,743 as of December 31, 2024[21] - Total assets decreased to $45,271,366 as of September 30, 2025, compared to $60,938,687 as of December 31, 2024[21] - Total liabilities increased to $38,264,495 as of September 30, 2025, from $40,693,462 as of December 31, 2024[21] - Total stockholders' equity decreased to $7,006,871 as of September 30, 2025, down from $20,245,225 as of December 31, 2024[21] - The total cash and cash equivalents and marketable investment securities amounted to $3.915 billion as of September 30, 2025[56] - The company has $2.0 billion of debt maturing in July 2026 and $1.377 billion maturing in August 2026[56] Spectrum and Network Operations - EchoStar entered into a License Purchase Agreement with AT&T for the sale of spectrum licenses for an aggregate purchase price of $22.65 billion, expected to close in the first half of 2026[37] - The AT&T Transactions include a minimum purchase price clause of $18.6 billion, ensuring a baseline for the sale[38] - The company plans to transition to a Hybrid Mobile Network Operator (MNO) model, with expected implementation as early as Q4 2025[44] - EchoStar agreed to sell its AWS-4 and H-Block Licenses to SpaceX, with the transaction contingent on regulatory approvals[47] - The total consideration amount for the SpaceX transactions is $17 billion, which includes $8.5 billion in SpaceX's Class A Common Stock valued at $212 per share[49] - The Spectrum Acquisition Closing is expected on or about November 30, 2027, subject to the satisfaction of customary closing conditions[50] - The company is actively migrating customer traffic from its 5G Network to AT&T's network as part of its transition strategy[74] - The company has received conditional approval from the FCC to extend 5G deployment deadlines to December 14, 2026, and further to June 14, 2028, based on compliance with commitments[76] Subscriber Metrics - As of September 30, 2025, the company had 7.166 million Pay-TV subscribers, including 5.171 million DISH TV subscribers and 1.995 million SLING TV subscribers[70] - The Wireless segment reported 7.520 million subscribers as of September 30, 2025[71] - As of September 30, 2025, the Broadband segment had 783,000 subscribers[79] Capital Expenditures and Investments - The company has invested over $30 billion in Wireless spectrum licenses, excluding $10 billion of capitalized interest related to these licenses[75] - The company has ceased capitalizing interest on its 5G Network qualifying assets as of the end of August 2025[88] - The company reported realized and unrealized gains (losses) on investments of $28.9 million for the three months ended September 30, 2025, compared to $52.1 million for the same period in 2024[130] Debt and Financing - The carrying amount of the company's debt facilities as of September 30, 2025, was $26,310,870,000, with a fair value of $29,795,145,000[155] - The company repurchased approximately $123 million of its 5 1/4% Senior Secured Notes due 2026 during the nine months ended September 30, 2025[155] - The company issued $5.356 billion and $150 million of its 10 3/4% Senior Secured Notes due November 30, 2029, in November 2024 and May 2025, respectively[165] - The company issued $2.0 billion aggregate principal amount of Convertible Notes due 2025, with $138 million remaining outstanding after a portion was exchanged and cancelled[171] Impairments and Write-downs - The company began the abandonment and decommission process for certain portions of its 5G Network, resulting in significant impairment assessments[61] - The company impaired the EchoStar XXI satellite, writing down its carrying value to zero as of September 30, 2025[143] - Impairment charges recorded during the three and nine months ended September 30, 2025, totaled approximately $16.481 billion[66] Regulatory Compliance and Obligations - The company is subject to a review of its compliance with obligations regarding federal spectrum licenses by the FCC[10] - The licenses remain in effect based on the submission of build-out certifications, despite the FCC not yet updating the build-out deadlines in the Universal Licensing System[10] - Northstar Wireless paid gross winning bid amounts for 261 AWS-3 Licenses but will not pay for 84, resulting in the FCC retaining those licenses[217]

Accessibility StatementSkip Navigation ENGLEWOOD, Colo., Oct. 30, 2025 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) will host a conference call to discuss its third quarter financial results on Thursday, November 6, 2025, at 11 a.m. Eastern Time (ET). The conference call will be broadcast live in listen-only mode on EchoStar's Investor Relations website. To attend the call, please use the information below for dial-in access. When prompted on dial-in, please utilize the conference ID or ask for the " ...

Core Insights - Boost Mobile is offering the new iPad Pro with the M5 chip, providing a $100 discount for both new and existing customers with an active phone plan [2][5] - The iPad Pro features significant performance improvements, including up to 3.5 times the AI performance compared to the M4 and up to 5.6 times faster than the M1 [3][6] - The new iPad Pro models are available for pre-order starting October 17, 2025, with availability from October 22, 2025 [2][3] Product Features - The iPad Pro is equipped with the M5 chip, which enhances AI capabilities and overall performance, making it suitable for demanding tasks [3][6] - Cellular models include the C1X modem, offering up to 50% faster cellular data performance than the M4, and support for 5G connectivity [4][5] - The device supports advanced wireless technologies with the new N1 chip, enabling Wi-Fi 7 and Bluetooth 6 [4][5] Pricing and Plans - Customers can add a Tablet Plan for $20 per month, which includes unlimited data and the $100 credit for the iPad Pro [2][9] - The offer is exclusively available at BoostMobile.com and does not require a trade-in [2][5] Customer Experience - Boost Mobile emphasizes value with flexible plans starting at $25 per month and no annual contracts, allowing customers to upgrade devices without trade-ins [8] - The new iPad Pro models come with enhanced memory options, starting with 12GB of unified memory for the 256GB and 512GB models, which is 50% more than previous versions [6]

Core Insights - EchoStar Corporation (NASDAQ:SATS) is recognized as a promising large-cap stock following the announcement of a strategic partnership between Hughes Network Systems and Celona to launch a fully managed private wireless network solution [1][2]. Group 1: Partnership and Technology - The collaboration aims to address the increasing demand for reliable, secure, and high-performance wireless connectivity across various sectors, including government operations, manufacturing, warehousing, logistics, and energy [2]. - The partnership will integrate Celona's private 5G LAN technology with Hughes Network's managed services expertise, offering a comprehensive solution that includes site design, deployment, and 24/7 network monitoring and support [3]. Group 2: Company Overview - EchoStar Corporation operates as a holding company providing television entertainment, wireless communication, and broadband satellite services globally, with brands such as DISH TV, Sling TV, Boost Mobile, and HughesNet [4].

Core Insights - Hughes Network Systems and Gogo are celebrating the successful on-time delivery of HDX and FDX electronically steerable antenna (ESA) terminals, marking a significant milestone in enhancing in-flight connectivity for business jets [1][4] - The partnership aims to leverage the Eutelsat OneWeb Low Earth Orbit (LEO) satellite network to provide high-throughput, low-latency connectivity across various aircraft types [2][3] - Hughes has initiated shipments of Gogo FDX ESA terminals, designed for larger airframes and higher data demands, while also developing a Commercial Aviation ESA for commercial airline operations [3][4] Company Overview - Hughes Network Systems, an EchoStar company, specializes in broadband equipment and services, providing managed services and end-to-end network operations globally [6][7] - Gogo is a leading provider of in-flight connectivity services, catering to a wide range of business aviation and government markets, with products installed on thousands of aircraft [5][6] Technological Advancements - The HDX and FDX ESAs are engineered for seamless integration across various aircraft platforms, optimizing size, weight, and power, and featuring a design with no moving parts for easy installation and maintenance [2][4] - Hughes has validated its technology through flight tests, demonstrating extensive end-to-end connectivity capabilities for the aviation sector [4]

Core Insights - EchoStar Corporation's subsidiary, Hughes Network Systems, has partnered with Celona to provide a fully managed private wireless network solution aimed at meeting the increasing demand for secure and scalable wireless connectivity [1][10] Group 1: Partnership and Technology - The collaboration combines Celona's advanced 5G LAN technology with Hughes' managed services expertise to support digital transformation across various industries such as manufacturing, logistics, energy, and public safety [2] - The partnership offers a comprehensive private wireless network with end-to-end management, improved Quality of Service (QoS), and seamless mobility, addressing connectivity challenges in large environments [3] - The solution is designed for mission-critical applications, enabling flexible deployment options tailored to customer needs, including automated vehicles and secure telehealth services [4] Group 2: Business Performance and Growth - Hughes achieved AS9100 quality certification and multiple FAA certifications, contributing to positive growth prospects for EchoStar [6] - The HughesNet consumer segment reported approximately 820,000 broadband subscribers, with increased Average Revenue Per User (ARPU) due to a focus on higher-value customers [6] - EchoStar anticipates positive operating free cash flow for the year, supported by disciplined cost management and growth in its Wireless and Hughes enterprise businesses [7] Group 3: Innovations and Market Position - In April 2025, Hughes launched the HL1100W electronically steerable antenna, enhancing low-latency, high-speed connectivity for enterprise and government users [8] - EchoStar's stock has performed well, with a Zacks Rank of 2 (Buy) and a share price increase of 187.3% over the past year, outperforming the industry growth of 148.4% [9]

Core Insights - EchoStar's shares surged 23.6% in September, following a nearly 90% increase in August due to successful wireless spectrum sales [2][3] - The company sold an additional $17 billion in wireless spectrum to SpaceX, following a $23 billion sale to AT&T [4][9] - EchoStar's management plans to pay down $11.4 billion in debt immediately, significantly reducing interest expenses and leaving the company with $24.1 billion in cash [7] Financial Transactions - The September sale to SpaceX was structured as $8.5 billion in cash and $8.5 billion in SpaceX stock, contrasting with the all-cash deal with AT&T [5] - The AT&T sale effectively eliminated EchoStar's debt, reducing the need for immediate cash infusion [5] Strategic Positioning - EchoStar now holds an $8.5 billion stake in SpaceX, positioning itself in a growth-oriented company within the space economy [6] - The company still retains approximately 45 MHz of spectrum, down from 140 MHz before the AT&T deal, with Verizon reportedly interested in acquiring the remaining assets [8][9]