EchoStar Corporation Announces Conference Call for Fourth Quarter and Full Year 2025 Financial Results [Accessibility Statement] Skip NavigationENGLEWOOD, Colo., Feb. 23, 2026 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) will host a conference to discuss its fourth quarter and full year 2025 financial results on Monday, March 2, 2026, 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 t ...

Core Viewpoint - Dish Network has filed a counterclaim against Disney regarding the Sling Passes, which provide temporary access to live and on-demand content including ESPN, amid ongoing legal disputes [1][2]. Group 1: Legal Proceedings - Disney initially sued Dish in U.S. District Court for the Southern District of New York seeking a temporary injunction, which was denied by the judge in November [2][4]. - Dish has escalated the legal battle by filing two documents, one seeking to dismiss key counts of Disney's amended complaint and the other asserting federal antitrust and breach of contract claims against Disney [2][4]. Group 2: Contractual Disputes - Sling Passes offer access to the Sling Orange service for a one-time fee without a renewal requirement, while Disney claims that the agreement mandates monthly subscriptions [3][4]. - Dish argues that the license agreement does not specify a minimum subscription length and that the pricing of Sling Passes is reasonable compared to monthly Sling TV rates [4]. Group 3: Antitrust Allegations - Dish's countersuit accuses Disney of abusing its dominant market position by providing favorable terms to competitors while denying similar terms to Dish and Sling, despite Most Favored Nation clauses in their agreement [5]. - The suit alleges anti-competitive behavior, including violations of the Sherman Act by conditioning access to ESPN on the purchase of less valuable channels [5]. Group 4: Market Competition - Dish criticizes Disney's acquisition of Fubo and the creation of the ESPN/Fox One bundle, claiming these actions violate the Clayton and Sherman Acts by reducing competition [6]. - Dish asserts that Disney is attempting to dominate the Skinny Sports Bundle Market, which leads to artificially high prices for consumers [6].

Core Viewpoint - EchoStar Corporation has announced that its 3.875% Convertible Senior Secured Notes due 2030 are now convertible, allowing holders to convert them into cash, shares of common stock, or a combination thereof, from January 1, 2026, to March 31, 2026 [1] Group 1 - The conversion of the Notes was triggered because the last reported sale price of the Company's common stock exceeded 130% of the conversion price for at least 20 trading days during a 30-day period ending December 31, 2025 [2] - The conversion rate is set at 29.73507 shares of common stock per $1,000 principal amount of Notes, equating to a conversion price of approximately $33.63 per share [3] - Holders can surrender their Notes for conversion in principal amounts of at least $1.00 or in integral multiples of $1.00 above that amount [3] Group 2 - The Company has issued a notice to holders detailing the terms, conditions, and procedures for the Conversion Option, which can be accessed through The Depository Trust Company or requested from The Bank of New York Mellon Trust Company, N.A. [4] - The Company and its Board of Directors have not made any recommendations regarding the exercise of the Conversion Option [4] Group 3 - EchoStar Corporation is a leading provider of technology, networking services, television entertainment, and connectivity solutions globally, operating under various brands including EchoStar®, Boost Mobile®, Sling TV, and others [6]

Core Insights - The article highlights the growing interest and investment in the space industry, particularly in defense companies benefiting from military reindustrialization and space exploration initiatives [1][2]. Group 1: Investment Opportunities - Defense companies have seen significant market gains due to renewed interest in space exploration, with President Trump's military expansion plan including a $175 billion project [2]. - High-profile private companies like SpaceX and Anduril are capitalizing on the space and defense boom, with SpaceX planning to go public next year [3]. - Satellite companies, including legacy providers like EchoStar and newer entrants like Planet Labs, have experienced stock surges, with some stocks tripling in value this year [4]. Group 2: Company Performance - Planet Labs' stock has surged nearly 400% this year, driven by demand for satellite imagery and analytics, leading to a valuation of $6.2 billion [5][6]. - EchoStar's shares have increased by 377% this year, with a market capitalization surpassing $31 billion, following significant spectrum deals [12][14]. - ViaSat shares have jumped 315% in 2025, bolstered by new contracts and the successful launch of its ViaSAT-3 satellites [16][17]. Group 3: Strategic Partnerships and Contracts - Planet Labs has secured new government contracts, including a $13.5 million task order with NASA and partnerships with NATO and the European Space Agency [7]. - EchoStar's spectrum deals with AT&T and SpaceX are aimed at enhancing connectivity and expanding its business portfolio [12][13]. - ViaSat has expanded partnerships with commercial airlines and secured a satellite contract with the U.S. Space Force, with a launch planned for 2028 [18].

Core Viewpoint - Echoar's shares have surged to an all-time high, increasing over 250% in the past year, largely due to its stake in SpaceX and speculation around SpaceX's potential IPO valuation of $800 billion, which has been denied by Elon Musk [1][7]. Company Overview - Echoar, formerly known as Dish, has transitioned into a retail wireless business with Boost Mobile and offers 5G network deployments, broadband, and satellite services [2][3]. - The company has experienced a significant awakening after years of stagnation, primarily driven by the monetization of its assets, particularly its spectrum licenses [4][5]. Financial Developments - Echoar's balance sheet shows approximately $35 billion in intangible assets, mainly from spectrum licenses, which the company is beginning to monetize [5][6]. - A notable transaction occurred when SpaceX purchased a portion of Echoar's spectrum for about $17 billion, providing Echoar with $8.5 billion in cash and an equivalent amount in proposed equity in SpaceX [6][7]. - Echoar's estimated stake in SpaceX is around 2.7%, which could be valued at approximately $20 billion if SpaceX's IPO reaches the speculated $800 billion valuation, against Echoar's current market cap of about $23 billion [8]. Business Performance - Despite the recent stock surge, Echoar's core business segments, including pay TV, retail wireless, and broadband services, have shown revenue declines, with expectations for continued declines in the upcoming year [9]. - The company recorded a $16 billion asset impairment due to the decommissioning of parts of its 5G network, which was intended to compete with larger carriers like T-Mobile, Verizon, and AT&T [9][10]. Market Sentiment - Echoar has been identified by analysts as an overlooked stock with potential for significant gains, as noted by City, which included it in a list of stocks that have flown under the radar [11].

Core Insights - EchoStar's management made a strategic decision to trade its wireless spectrum for SpaceX stock, which has proven to be a wise investment as the company's stock price surged by 15.5% recently [1] - The company generated over $30 billion in cash from transformative spectrum asset sales, along with acquiring $8.5 billion in SpaceX stock, followed by an additional $2.6 billion in SpaceX stock from a smaller spectrum sale [2] - SpaceX is reportedly in discussions to raise funds at an $800 billion valuation, indicating a significant increase in value since EchoStar's acquisition of its shares [4][5] Financial Performance - EchoStar's current market capitalization is approximately $21 billion, with a stock price of $7.84 after a recent increase [4] - The company's SpaceX shares could potentially account for nearly all of its market valuation, as the value of these shares may have doubled since acquisition [7] - After completing all spectrum sales, EchoStar is expected to have around $8.6 billion in net cash, while its core businesses are generating over $1 billion in adjusted OIBDA annually [8][9]

Core Insights - Disney and YouTube TV have not reached a new carriage deal, resulting in the blackout of major channels like ESPN and ABC from YouTube TV [1][2] - YouTube TV is offering a $20 credit to subscribers affected by the blackout, while alternatives to YouTube TV are being recommended [2][3] Group 1: Impact of the Blackout - The blackout affects popular Disney-owned channels including ABC, ESPN, ESPN2, and others, which are crucial for sports viewers [2][28] - YouTube TV has stated that negotiations with Disney are ongoing but cannot predict when the channels will be restored [2] Group 2: Alternatives to YouTube TV - Recommended alternatives include DirecTV, Sling TV, Fubo, and ESPN Unlimited, each offering different price points and channel line-ups [3][4] - DirecTV is highlighted as the best overall alternative, starting at $89.99 per month for the Entertainment plan, which includes 90+ channels [5][6] - ESPN Unlimited is a budget-friendly option at $29.99 per month, focusing on sports content [11][13] - Sling TV offers various plans, with the Sling Orange + Blue combo being the most comprehensive for major sports channels at $60.99 per month [17][19] - Fubo is noted for its extensive sports offerings, with the Pro plan costing $84.99 per month and including over 200 channels [20][21] Group 3: Historical Context of Carriage Disputes - Similar carriage disputes have occurred in the past, such as a 13-day blackout between DirecTV and Disney in Fall 2024, and an 11-day dispute with Charter in 2023 [26] - Long-term blackouts can result from these disputes, as seen with Fubo's loss of Warner Bros. channels in April 2024 [27]

Core Viewpoint - EchoStar Communications (SATS.US) has agreed to amend its final agreement with SpaceX to sell its unpaired AWS-3 spectrum licenses for $2.6 billion in SpaceX stock, enhancing its ability to create value for shareholders through new business opportunities [1] Group 1: Transaction Details - The transaction is based on a previous agreement reached in September between the two companies [1] - EchoStar had previously agreed to sell AWS-4 and H-band spectrum licenses to SpaceX for approximately $17 billion, with payments split into a maximum of $8.5 billion in cash and $8.5 billion in SpaceX stock [1] - The acquisition of the unpaired AWS-3 spectrum, along with the previously mentioned licenses, will enable SpaceX to develop and deploy the next-generation Starlink Direct to Cell constellation system [1] Group 2: Company Impact - EchoStar's CEO, Hamid Akhavan, stated that this collaboration with SpaceX, along with prior spectrum transactions and commercial agreements, will enhance the company's ability to explore new business opportunities and create shareholder value [1] - The existing operations of EchoStar's subsidiaries, including DISH TV, Sling TV, Boost Mobile, and Hughes, will not be affected by this transaction [1] Group 3: Market Reaction - As of pre-market trading, EchoStar's stock price slightly declined by 0.03% to $72.3 [2]

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]

Core Viewpoint - EchoStar Corporation has announced that its 3.875% Convertible Senior Secured Notes due 2030 will be convertible starting from October 1, 2025, until December 31, 2025, allowing holders to convert into cash, shares, or a combination thereof [1][2]. Group 1: Conversion Details - The conversion of the Notes is triggered when the last reported sale price of the Company's common stock exceeds 130% of the conversion price for at least 20 trading days within a 30-day period ending on September 30, 2025 [2]. - The conversion rate is set at 29.73507 shares per $1,000 principal amount of Notes, equating to a conversion price of approximately $33.63 per share [3]. Group 2: Notice and Procedures - The Company has issued a notice to holders detailing the terms, conditions, and procedures for exercising the Conversion Option, which can be accessed through The Depository Trust Company or requested from The Bank of New York Mellon Trust Company, N.A. [4]. - The Company and its Board of Directors have not made any recommendations regarding the exercise of the Conversion Option [4]. Group 3: Company Overview - EchoStar Corporation is a leading provider of technology, networking services, television entertainment, and connectivity solutions globally, operating under various brands including EchoStar®, Boost Mobile®, Sling TV, and HughesNet® [6].