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

Core Insights - EchoStar Corporation reported total revenue of $3.87 billion for Q1 2025, showing a decline from $4.01 billion in Q1 2024, indicating a year-over-year decrease of approximately 3.6% [2][8] - The company experienced a net loss attributable to EchoStar of $202.67 million in Q1 2025, compared to a net loss of $107.38 million in Q1 2024 [8][21] - The performance across different segments showed mixed results, with Wireless revenue increasing to approximately $973 million, while Pay-TV revenue decreased to about $2.5 billion [3][4][8] Wireless Segment - The Wireless segment, primarily consisting of Boost Mobile, generated approximately $973 million in revenue for Q1 2025, up from $914 million in Q1 2024, reflecting a year-over-year growth of about 6.5% [3][8] - The segment achieved a net subscriber growth of 150,000 and improved churn rate to 7.2%, marking a significant improvement from the previous year [6][7] - Boost Mobile Network was recognized as the 1 mobile network in New York City by an independent benchmarking expert [7] Pay-TV Segment - The Pay-TV segment, which includes DISH TV and Sling TV, reported revenue of approximately $2.54 billion for Q1 2025, down from $2.73 billion in Q1 2024, representing a decline of about 7% [4][8] - The segment achieved its lowest churn rate of 1.36% in over a decade, excluding pandemic effects, and saw a 3% increase in average revenue per user (ARPU) year-over-year [6][7] Broadband & Satellite Services Segment - The Broadband & Satellite Services segment generated approximately $371 million in revenue for Q1 2025, slightly down from $382 million in Q1 2024 [5][8] - The segment reported an increase in enterprise backlog by 5% year-over-year and enhanced in-flight connectivity offerings through universal Ka- and Ku-bands [6][11] Financial Performance - The total operating loss for the company was $88.13 million in Q1 2025, compared to a loss of $15.24 million in Q1 2024 [21] - Operating income (loss) by segment showed Pay-TV at $653.43 million, Wireless at a loss of $722.30 million, and Broadband & Satellite Services at $85.70 million [9][10] - The company had a contracted backlog revenue of approximately $1.6 billion at the end of Q1 2025, reflecting a 5% increase year-over-year [11]