Core Insights - EchoStar Corporation (SATS) is set to release its fourth-quarter results for 2025 on March 2, with a consensus estimate indicating a loss of 81 cents per share, which represents a 165.3% wider loss compared to the previous year. Revenue is expected to decline by 5.7% year-over-year to $3.74 billion [1]. Financial Performance - The company has a strong earnings surprise history, having beaten the Zacks Consensus Estimate in each of the last four quarters, with an average surprise of 122.7% [2]. - SATS stock has increased by 268.1% over the past year, outperforming the Computer-Software industry, which grew by 182.1%. The S&P 500 composite and the Zacks Computer and Technology sector rose by 19.1% and 25.2%, respectively, during the same period [3]. Business Strategy and Segments - EchoStar is transitioning to a capital-light model, moving away from capital-intensive wireless buildouts. This shift is expected to lower fixed costs and enhance financial flexibility, with Boost Mobile playing a key role through its hybrid MVNO agreement with AT&T [4]. - The Wireless segment, primarily driven by Boost Mobile, generated approximately $939 million in revenue during the third quarter, supported by subscriber growth and a 2.6% year-over-year increase in ARPU. The fourth-quarter revenue estimate for this segment is $982 million [5]. - An amended agreement with SpaceX involves selling its unpaired AWS-3 spectrum license for about $2.6 billion in SpaceX stock, which is anticipated to provide capital for ongoing operations and growth opportunities [6]. - The Broadband & Satellite Services segment is benefiting from increased demand for satellite-based connectivity, particularly in rural markets and government programs aimed at bridging the digital divide [7]. Revenue Challenges - The Broadband and Satellite Services segment reported a third-quarter revenue of $346 million, down 10.6% year-over-year due to lower broadband service sales and weaker enterprise hardware demand. The fourth-quarter revenue estimate for this segment is $377 million [11]. - The company is facing ongoing litigation with at least one tower company and potential tax liabilities and decommissioning costs, which could pose challenges [12].