Latest news with #HamidAkhavan
Broadcast Pro
6 days ago
- Business
- Broadcast Pro
EchoStar taps MDA Space for first Open RAN NTN LEO constellation
Estimated total cost of EchoStar's LEO constellation is $5bn, increasing the company's total investment in NTN satellite connectivity to over $18bn since 2012. EchoStar Corporation has appointed MDA Space as the prime contractor for its ambitious new low Earth orbit (LEO) satellite constellation aimed at delivering direct-to-device (D2D) connectivity. Valued at approximately $1.3bn, the initial contract covers the design, manufacturing and testing of more than 100 software-defined satellites under MDAs AURORA platform. This marks the first phase of EchoStars planned non-terrestrial network (NTN), which will eventually consist of 200 satellites and is expected to scale to thousands depending on demand. The LEO constellation is being developed to offer global talk, text and broadband data services directly to standard 5G NTN handheld devices without requiring special hardware modifications. The project builds on EchoStars satellite and terrestrial expertise, particularly through its Hughes division, which brings over six decades of experience in satellite communications. Coupled with its US-based 5G Open RAN infrastructure, EchoStar aims to deliver seamless integration of terrestrial and non-terrestrial connectivity across multiple sectors, including consumer, enterprise, public safety and government services in the US, Europe and beyond. Hamid Akhavan, president & CEO of EchoStar, said: 'EchoStar's Hughes communications division has over 60 years of leadership in the satellite and space technology business. Our satellite expertise combined with our U.S.-based terrestrial 5G Open RAN network uniquely positions EchoStar to execute on this new large-scale wideband LEO constellation. The market-leading technical innovation provided by MDA Space along with our global S-band/2GHz spectrum rights with the highest ITU priority, and our strong service delivery capabilities will enable us to serve the consumer, enterprise, public safety and government sectors in the US, Europe and beyond. Critically, this will foster US leadership in the growing space economy.' Mike Greenley, CEO of MDA Space, added: 'EchoStar's selection of our new MDA AURORA D2D software-defined satellites to meet its demanding technical and business requirements is a testament to the confidence satellite operators have in our deep expertise and products, our differentiated MDA AURORA product, and our expanding production capacity. This contract also demonstrates our continued market momentum as we strategically position MDA Space to be the prime contractor of choice for satellite operators in the direct-to-device and broadband connectivity.' EchoStars investment in the 2GHz band dates back to 2012, with the acquisition of DBSD and TerreStar, and now exceeds $13bn. This includes purchasing spectrum rights, retrofitting satellites, developing ground infrastructure and working to standardise the 2GHz band within the 3GPP framework for 5G NTN applications. EchoStar has integrated these efforts into its US-based virtualised 5G Open RAN network and launched three next-generation satellites (Lyra) to support its goals. Currently, EchoStar holds exclusive 2GHz licenses in the US (AWS-4) and is authorised to provide mobile satellite services over this spectrum. Additional 2GHz holdings include 30 MHz in Europe, 40 MHz in Canada (via a long-term partnership), 20 MHz in Mexico and 30 MHz in Brazil. The company has already begun offering texting services in Europe and is preparing to launch similar services in North America in early 2026. The MDA-built satellites will operate on up to 25×20 MHz of AWS-4/S-band 2GHz spectrum and will fully comply with the latest 3GPP NTN standards. Once operational, the system will support a wide range of services, including messaging, voice, broadband data and video, to all standard-compliant devices. It will also have the capacity to interface with sensors and mobile platforms. Satellite deliveries are scheduled to begin in 2028, with commercial service set to launch in 2029. The total estimated cost of the LEO constellation project is $5bn.
Yahoo
02-08-2025
- Business
- Yahoo
EchoStar (SATS) Nosedives 17.37% on Dismal Earnings
We recently published . EchoStar Corporation (NASDAQ:SATS) is one of the worst-performing stocks on Friday. EchoStar dropped its share prices by 17.37 percent on Friday to close at $26.93 apiece as investors soured on the company's dismal earnings performance in the second quarter and first half of the year. In an updated report, EchoStar Corporation (NASDAQ:SATS) said that net loss attributable to shareholders widened by 49 percent to $306 million from $205 million in the same period last year. Revenues declined by 5 percent to $3.7 billion from $3.9 billion year-on-year. In the first half, net loss also increased by 62 percent to $508.8 million from the $312.97 million registered year-on-year. Revenues decreased by 4.77 percent to $7.59 billion from $7.97 billion. In terms of business segment, Pay TV remained EchoStar Corporation's (NASDAQ:SATS) largest revenue contributor, followed by the wireless segment, and then broadband and satellite services. However, both Pay TV and broadband and satellite revenues posted notable declines in both the second quarter and the first half of the year. Despite the downturn, EchoStar Corporation (NASDAQ:SATS) President and CEO Hamid Akhavan said that the company's performance 'was in line with our high performance expectations.' While we acknowledge the potential of SATS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
01-08-2025
- Business
- Cision Canada
MDA SPACE SELECTED BY ECHOSTAR FOR WORLD'S FIRST OPEN RAN D2D LEO CONSTELLATION
BRAMPTON, ON, Aug. 1, 2025 /CNW/ - EchoStar Corporation (NASDAQ: SATS), a global communications and connectivity provider, has selected MDA Space Ltd. (TSX: MDA), a trusted mission partner to the rapidly expanding global space industry, as the prime contractor for EchoStar's new non-terrestrial network (NTN) low Earth orbit (LEO) direct-to-device (D2D) satellite constellation. With this contract, MDA Space is on track to begin volume manufacturing of the world's first 3GPP 5G compliant non-terrestrial network using LEO satellites. The initial contract, valued at approximately US$1.3 billion (approx. C$1.8 billion), includes the design, manufacturing and testing of over 100 software-defined MDA AURORA™ D2D satellites. With contract options, enabling a full initial configuration of a network of over 200 satellites, the value of the contract would increase to an approximate total value of US$2.5 billion (approx. C$3.5 billion). EchoStar envisions future growth to thousands of satellites, as demand requires, to provide global talk, text and broadband services directly to standard 5G handheld devices. The constellation will be fully compliant with the newly created NTN and 3GPP standards, allowing EchoStar to provide messaging, voice, broadband data, and video services upon launch to all phones configured to this standard, without modifications. Additionally, the constellation will connect to an array of sensor and mobile vehicles. "Our satellite expertise combined with our U.S.-based terrestrial 5G Open RAN network uniquely positions EchoStar to execute on this new large-scale wide-band LEO constellation," said Hamid Akhavan, president & CEO of EchoStar. "The market-leading technical innovation provided by MDA Space along with our global S-band/2GHz spectrum rights with the highest ITU priority, and our strong services delivery capabilities will enable us to serve the consumer, enterprise, public safety and government sectors in the U.S., Europe and beyond." With this contract, EchoStar becomes the anchor customer for the 3GPP 5G NTN compliant MDA AURORA™ direct-to-device satellite product, further solidifying MDA Space's leadership in the non-terrestrial network (NTN) market. Standards-based compliance ensures interoperability between the satellite network and existing terrestrial cellular network, enabling seamless handover and data routing between the two. These standards allow all mobile cellular devices and IoT devices to connect directly to satellites operating in LEO, extending connectivity to remote or underserved areas. "EchoStar's selection of our new MDA AURORA™ D2D software-defined satellite to meet its demanding technical and business requirements is a testament to the confidence satellite operators have in our deep expertise, our differentiated MDA AURORA™ product line, and our expanding production capacity," said Mike Greenley, CEO of MDA Space. "This contract also demonstrates our continued market momentum as we strategically position MDA Space to be the prime contractor of choice for satellite operators offering direct-to-device and broadband connectivity." A standard D2D product available to global NTN operators worldwide, MDA AURORA™ D2D is ideally suited to meet the needs of customers like EchoStar, who require innovative and high-performance solutions to stay ahead in the market. Our solution provides better connectivity and a higher quality of service for users, enabling them to stay connected anywhere, anytime. Technical features of the software-defined MDA AURORA™ D2D satellite include: a large user antenna to ensure optimal connectivity for user devices; an onboard processor compliant with 3GPP 5G NTN standards and Open RAN for seamless integration with terrestrial networks; optical intersatellite links that enable a robust mesh network in orbit; differentiated chip technology for tailored solutions that meet the evolving needs of the D2D market; and a high-power and efficient satellite platform. The EchoStar LEO constellation satellites will be designed, assembled, integrated and tested at the state-of-the-art MDA Space high-volume satellite manufacturing facility in Montreal, which is currently undergoing a 185,000-square-foot expansion. Delivery of satellites is planned for 2028 with commercial service starting in 2029. The initial EchoStar contract of approximately US$1.3 billion (approximately C$1.8 billion) for the first tranche of satellites will be added to MDA's backlog in the third quarter of fiscal 2025 and represents the fourth LEO constellation contract awarded to MDA Space in just over three years. *Management assumed US/CAD exchange rate of 1.37. FORWARD-LOOKING STATEMENTS This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events, including EchoStar's option to purchase additional satellites. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's Annual Information Form available on SEDAR+ at MDA Space does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. ABOUT MDA SPACE Building the space between proven and possible, MDA Space (TSX: MDA) is a trusted mission partner to the global space industry. A robotics, satellite systems and geointelligence pioneer with a 55-year+ story of world firsts and more than 450 missions, MDA Space is a global leader in communications satellites, Earth and space observation, and space exploration and infrastructure. The MDA Space team of more than 3,400 space experts in Canada, the US and the UK has the knowledge and know-how to turn an audacious customer vision into an achievable mission – bringing to bear a one-of-a-kind mix of experience, engineering excellence and wide-eyed wonder that's been in our DNA since day one. For those who dream big and push boundaries on the ground and in the stars to change the world for the better, we'll take you there. For more information, visit SOURCE MDA Space
Yahoo
01-08-2025
- Business
- Yahoo
EchoStar Announces Financial Results for the Three and Six Months Ended June 30, 2025
Wireless: Net subscriber growth (+212K), improved churn (2.69%, an improvement of 24 basis points year-over-year), improved average revenue per user (ARPU) (4.1% year-over-year) and the highest prepaid ARPU in the industry. Pay TV: Lowest DISH TV churn (1.29%) in over a decade (excluding the pandemic), growth in ARPU (+3% year-over-year) and increased viewership engagement (hours/viewer). Broadband & Satellite Services: Increased enterprise order backlog (future revenues) by 8% to $1.6B primarily through gaining share in the attractive Aero sector. ENGLEWOOD, Colo., Aug. 1, 2025 /PRNewswire/ -- EchoStar Corporation (NASDAQ: SATS) announced its financial results for the three and six months ended June 30, 2025. The company's unabated focus on driving operational efficiencies, exceptional customer experiences and profitable growth investment continues to deliver results across the enterprise and reconfirms the company's plan to deliver positive Operating Free Cash Flow, as previously defined. EchoStar's assets across satellite, wireless, video, managed services and U.S.-based manufacturing led to improvements in many key metrics and reported total revenue of $3.72 billion for the second quarter 2025 and $7.60 billion for the six months ended June 30, 2025. "EchoStar performed well in the second quarter and was in line with our high performance expectations," said Hamid Akhavan, president and CEO, EchoStar Corporation. "Our Retail Wireless business continues to make progress and we have now had five consecutive quarters of growth with our Boost Mobile brand. Our Pay-TV ARPU and churn rate improvement continues to impress, and our enterprise business is gaining ground globally within the aviation sector as the industry's only future-proof in-flight connectivity solution." Wireless Wireless consists predominantly of Boost Mobile and network wireless services, and delivered approximately $935 million in revenue for the second quarter. Continued strong performance fueled by +212K subscriber net adds in Q2, closing the quarter with approximately 7.36 million total subscribers Attracted and retained high-quality customers, contributing to a 24 basis point improvement in churn year-over-year Mix in subscribers with higher priced plans and higher sales of value-added services drove 4.1% improvement in ARPU year-over-year – the highest pre-paid ARPU in the industry Boost Mobile Network rated best in 5G Reliability and 5G Coverage in Atlanta; Charlotte, N.C.; Cincinnati; Cleveland; Columbus, Ohio; Dallas-Fort Worth; Detroit; Houston; Miami; New York City; Orlando, Fla.; Philadelphia; Raleigh, N.C; St. Louis; and its hometown market of Denver by OpenSignal Pay-TV Pay TV consists of DISH TV and Sling TV. Performance for Pay-TV delivered approximately $2.46 billion in revenue for the second quarter. Continued focus on operational efficiency, higher priced programming packages per subscriber and improved user experiences helped increase ARPU (+3%) Customer loyalty and high-quality subscribers further reduced DISH TV churn (1.29%) and drove a 10 basis point reduction in churn year-over-year Pay-TV closed the quarter with approximately 7.11 million subscribers Broadband & Satellite Services Broadband & Satellite Services consists predominantly of the Hughes enterprise and consumer family of brands and delivered approximately $340 million in revenue for the second quarter. Announced membership in Airbus HBCplus program enhancing ability to serve airlines as a factory line fit option at Airbus Approximately $1.6 billion contracted backlog revenue at the end of Q2 (+5% year-over-year) Broadband & Satellite Services closed the quarter with approximately 819,000 subscribers Set forth below is a table highlighting certain of EchoStar's segment results for the three and six months ended June 30, 2025 and 2024 (all U.S. GAAP amounts reference results from operations):For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024(in thousands) RevenuePay-TV $ 2,462,249$ 2,676,284$ 5,000,976$ 5,402,862 Wireless934,631 892,728 1,907,406 1,806,734 Broadband and Satellite Services339,780 394,011 710,438 776,597 All Other & Eliminations(11,701) (10,272) (24,103) (18,599) Total $ 3,724,959$ 3,952,751$ 7,594,717$ 7,967,594 Net Income (loss) attributable to EchoStar $ (306,132)$ (205,591)$ (508,801)$ (312,967) OIBDAPay-TV $ 663,377$ 753,001$ 1,393,250$ 1,508,511 Wireless(451,980) (394,439) (867,044) (757,935) Broadband and Satellite Services67,699 82,392 153,402 161,679 All Other & Eliminations551 1,202 240 57 Total $ 279,647$ 442,156$ 679,848$ 912,312 Purchases of property and equipment, net of refunds, (including capitalizedinterest related to regulatory authorizations) Pay-TV $ 78,580$ 54,006$ 140,968$ 111,918 Wireless625,203 560,468 909,196 1,109,641 Broadband and Satellite Services43,118 56,559 75,221 127,170$ 746,901$ 671,033$ 1,125,385$ 1,348,729 Reconciliation of GAAP to Non-GAAP Measurement: For the Three Months Ended June 30, 2025Pay-TVWirelessBroadband and Satellite ServicesConsolidated Eliminations (In thousands) Segment operating income (loss)$ 595,552$ (772,948)$ (36,738)$ 726$ (213,408) Depreciation and amortization 67,825 320,968 104,437 (175) 493,055 OIBDA$ 663,377$ (451,980)$ 67,699$ 551$ 279,647 For the Three Months Ended June 30, 2024 Segment operating income (loss)$ 667,752$ (700,302)$ (34,586)$ 1,767$ (65,369) Depreciation and amortization 85,249 305,863 116,978 (565) 507,525 OIBDA$ 753,001$ (394,439)$ 82,392$ 1,202$ 442,156 For the Six Months Ended June 30, 2025Pay-TVWirelessBroadband and Satellite ServicesConsolidated Eliminations (In thousands) Segment operating income (loss)$ 1,248,982$ (1,495,250)$ (55,933)$ 661$ (301,540) Depreciation and amortization 144,268 628,206 209,335 (421) 981,388 OIBDA$ 1,393,250$ (867,044)$ 153,402$ 240$ 679,848 For the Six Months Ended June 30, 2024 Segment operating income (loss)$ 1,337,860$ (1,345,470)$ (74,140)$ 1,137$ (80,613) Depreciation and amortization 170,651 587,535 235,819 (1,080) 992,925 OIBDA$ 1,508,511$ (757,935)$ 161,679$ 57$ 912,312 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 June 30, 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 June 30, 2025, filed today with the Securities and Exchange Commission. EchoStar will host a conference call to discuss its earnings on Day, August 1, 2025, at 12 p.m. Eastern Time. The conference call will be broadcast live in listen-only mode on EchoStar's investor relations website at To attend the call, please dial: (888) 484-6065 (U.S.) or +1 (201) 689-8846. When prompted on dial-in, please utilize the conference ID (13755124) or ask for the "EchoStar Corporation Q2 2025 Earnings Conference Call." Please dial in at least 10 minutes before the call to ensure timely participation. About EchoStar Corporation EchoStar Corporation (Nasdaq: SATS) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator and government solutions worldwide under its EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™, and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia. For more information, visit and follow EchoStar on X (Twitter) and LinkedIn. Safe Harbor Statement under the US Private Securities Litigation Reform Act of 1995 This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "goal," "seek," "estimate," "expect," "intend," "project," "continue," "future," "will," "would," "can," "may," "plans," and similar expressions and the use of future dates are intended to identify forward–looking statements. Although management believes that the expectations reflected in these forward–looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. We assume no responsibility for the accuracy of forward-looking statements or information or for updating forward-looking information or statements. These statements are subject to certain risks, uncertainties, and assumptions. See "Risk Factors" in EchoStar's Annual Report on Form 10-K for the period ended December 31, 2024, and subsequent quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission and in the other documents EchoStar files with the Securities and Exchange Commission from time to CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(Dollars in thousands, except share amounts)(Unaudited)As of June 30, December 31,20252024 AssetsCurrent Assets:Cash and cash equivalents $ 2,345,085$ 4,305,393 Current restricted cash, cash equivalents and marketable investment securities184,012 150,898 Marketable investment securities1,988,001 1,242,036 Trade accounts receivable, net of allowance for credit losses of $98,231 and $82,628, respectively1,158,592 1,198,731 Inventory375,118 455,197 Prepaids and other assets771,171 655,233 Other current assets94,247 88,255 Total current assets6,916,226 8,095,743 Noncurrent Assets:Restricted cash, cash equivalents and marketable investment securities 176,004 169,627 Property and equipment, net 8,773,656 9,187,132 Regulatory authorizations, net40,029,923 39,442,166 Other investments, net191,792 202,327 Operating lease assets3,218,062 3,260,768 Intangible assets, net 66,903 74,939 Other noncurrent assets, net509,831 505,985 Total noncurrent assets52,966,171 52,842,944 Total assets $ 59,882,397$ 60,938,687 Liabilities and Stockholders' Equity (Deficit)Current Liabilities:Trade accounts payable $ 745,587$ 740,984 Deferred revenue and other638,989 650,940 Accrued programming1,251,114 1,339,072 Accrued interest308,917 352,499 Other accrued expenses and liabilities1,675,958 1,804,516 Current portion of debt, finance lease and other obligations1,053,230 943,029 Total current liabilities5,673,795 5,831,040 Long-Term Obligations, Net of Current Portion:Long-term debt, finance lease and other obligations, net of current portion25,401,688 25,660,288 Deferred tax liabilities, net4,809,572 4,988,653 Operating lease liabilities 3,178,737 3,211,407 Long-term deferred revenue and other long-term liabilities1,027,111 1,002,074 Total long-term obligations, net of current portion34,417,108 34,862,422 Total liabilities40,090,903 40,693,462 Commitments and ContingenciesStockholders' Equity (Deficit): Class A common stock, $0.001 par value, 1,600,000,000 shares authorized, 156,299,276 and 155,048,676 shares issued and outstanding, respectively156 155 Class B common stock, $0.001 par value, 800,000,000 shares authorized, 131,348,468 shares issued and outstanding131 131 Additional paid-in capital8,809,264 8,768,360 Accumulated other comprehensive income (loss)(183,181) (195,711) Accumulated earnings (deficit)11,109,636 11,618,437 Total EchoStar stockholders' equity (deficit)19,736,006 20,191,372 Noncontrolling interests55,488 53,853 Total stockholders' equity (deficit)19,791,494 20,245,225 Total liabilities and stockholders' equity (deficit) $ 59,882,397$ 60,938,687 ECHOSTAR CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands, except per share amounts)(Unaudited)For the Three Months Ended June 30, For the Six Months Ended June 30, 2025202420252024 Revenue:Service revenue $ 3,540,107$ 3,742,086$ 7,146,263$ 7,561,755 Equipment sales and other revenue184,852 210,665 448,454 405,839 Total revenue3,724,959 3,952,751 7,594,717 7,967,594 Costs and Expenses (exclusive of depreciation and amortization):Cost of services2,461,631 2,507,478 4,893,829 5,064,660 Cost of sales - equipment and other 354,187 408,093 793,695 771,176 Selling, general and administrative expenses629,494 595,024 1,227,345 1,219,446 Depreciation and amortization 493,055 507,525 981,388 992,925 Total costs and expenses3,938,367 4,018,120 7,896,257 8,048,207 Operating income (loss)(213,408) (65,369) (301,540) (80,613) Other Income (Expense):Interest income65,369 13,929 130,898 44,391 Interest expense, net of amounts capitalized(279,232) (81,166) (565,287) (180,574) Other, net35,137 (91,498) 76,527 (117,608) Total other income (expense)(178,726) (158,735) (357,862) (253,791) Income (loss) before income taxes(392,134) (224,104) (659,402) (334,404) Income tax (provision) benefit, net85,290 16,646 149,277 18,571 Net income (loss)(306,844) (207,458) (510,125) (315,833) Less: Net income (loss) attributable to noncontrolling interests, net of tax(712) (1,867) (1,324) (2,866) Net income (loss) attributable to EchoStar $ (306,132)$ (205,591)$ (508,801)$ (312,967) Weighted-average common shares outstanding - Class A and B common stock: Basic287,505 271,592 287,012 271,555 Diluted287,505 271,592 287,012 271,555 Earnings per share - Class A and B common stock:Basic net income (loss) per share attributable to EchoStar $ (1.06)$ (0.76)$ (1.77)$ (1.15) Diluted net income (loss) per share attributable to EchoStar $ (1.06)$ (0.76)$ (1.77)$ (1.15) ECHOSTAR CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands) (Unaudited)For the Six Months Ended June 30, 20252024 Cash Flows From Operating Activities: Net income (loss)$ (510,125)$ (315,833) Adjustments to reconcile net income (loss) to net cash flows from operating activities: Depreciation and amortization 981,388 992,925 Realized and unrealized losses (gains) on investments, impairments and other (64,831) 49,312 Non-cash, stock-based compensation 16,123 19,693 Deferred tax expense (benefit) (174,719) (35,300) Changes in allowance for credit losses 15,603 33,108 Change in long-term deferred revenue and other long-term liabilities 420 8,139 Other, net 115,365 125,969 Changes in operating assets and operating liabilities, net (164,957) 52,971 Net cash flows from operating activities 214,267 930,984Cash Flows From Investing Activities: Purchases of marketable investment securities (2,247,724) (21,847) Sales and maturities of marketable investment securities 1,526,245 501,512 Purchases of property and equipment (551,600) (866,922) Capitalized interest related to regulatory authorizations (573,785) (481,807) Purchases of regulatory authorizations, including deposits — (1,104) Sale of assets to CONX — 26,719 Sale of Fiber business 47,207 — Other, net (64) (4,716) Net cash flows from investing activities (1,799,721) (848,165)Cash Flows From Financing Activities: Repayment of long-term debt, finance lease and other obligations (46,272) (52,758) Redemption and repurchases of term loans, convertible and senior notes (456,049) (951,170) Proceeds from issuance of convertible and senior notes 150,000 — Debt issuance costs and debt (discount) premium (946) — Early debt extinguishment gains (losses) of convertible and senior notes 11,465 — Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 6,994 1,832 Purchase of SNR Management's ownership interest in SNR HoldCo — (441,998) Other, net (31,189) 2 Net cash flows from financing activities (365,997) (1,444,092)Effect of exchange rates on cash and cash equivalents 2,965 (3,701)Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents (1,948,486) (1,364,974) Cash, cash equivalents, restricted cash and cash equivalents, beginning of period 4,593,804 1,911,601 Cash, cash equivalents, restricted cash and cash equivalents, end of period$ 2,645,318$ 546,627 View original content to download multimedia: SOURCE EchoStar Corporation Sign in to access your portfolio
Miami Herald
31-05-2025
- Business
- Miami Herald
Huge cable and internet phone provider faces Chapter 11 bankruptcy
It's not a great time to be a cable company in a broad sense. For decades, cable had sort of two monopolies. First, it was the only real option if you wanted an expanded universe of channels. Related: Best Buy CEO raises red flag about startling customer behavior Yes, you could get an old-school giant satellite dish and pick up feeds from other countries, but unless you spoke multiple languages, that wasn't a viable alternative. In addition, when most major cable companies expanded, they had to spend millions to wire each market. In exchange for doing that, they asked for (and generally received) exclusivity. At first, they agreed to some pricing caps, but by the 2000s, those started going away. Cable prices were high because people had no choices and, to paraphrase the 1980s, "wanted their MTV." Now, however, the internet has made cable less needed and less exclusive. Don't miss the move: Subscribe to TheStreet's free daily newsletter "Data revealed that the number of traditional pay TV households in the United States stood at around 58 million in 2023. This figure will likely drop further over the next few years and amount to less than 41 million by 2028," according to data from Statista. Fewer people pay for traditional cable. Some of that has migrated to streaming services like YouTubeTV and Sling which off cable-like packages and "skinny bundles" of channels for lower prices (albeit with the cost being much more per channel in most cases). EchoStar used to have a unique place as a cable and internet provider that offered service in markets not served by traditional. Cable and Internet service provider. The company's HughesNet brand, for example, offered satellite internet to rural areas. It was slow and pricey, but also a lifeline to the markets it served. Elon Musk's Starlink has made HughesNet irrelevant as it's now not the best choice for nearly any consumer. The company does own Boost Mobile, which operates in the crowded prepaid wireless space and Dish, the satellite/internet cable company, as well as Sling, its pure digital sister company. Boost Mobile has been an asset for the company. "Wireless' performance remains strong with 150,000 subscribers net adds in the first quarter as compared to an 81,000 net loss in the same period of 2024," CEO Hamid Akhavan said during its first-quarter earnings call. Retail stories: Costco quietly plans to offer a convenient service for customersT-Mobile pulls the plug on generous offer, angering customersKellogg sounds alarm on unexpected shift in customer behavior The company did not share subscriber numbers for its cable or internet businesses, but cable saw revenue drop by $126 million while internet revenue was down $46 million. Now, due to an issue with the Federal Communications Commission (FCC) EchoStar has threatened to file for Chapter 11 bankruptcy. EchoStar (SATS) has said that it won't make an interest payment because of an FCC inquiry into its 5G network. "The move could potentially set the stage for EchoStar to seek Chapter 11 bankruptcy protection – and blame the FCC for it," according to Light Reading. FCC Chairman Brendan Carr has launched a "a review of EchoStar's compliance with its federal obligations to provide 5G service throughout the United States per the terms of its federal spectrum licenses," Carr wrote in a letter to EchoStar's Charlie Ergen, who runs EchoStar and its Boost Mobile business. Related: Costco CEO hints at new checkout option members will love EchoStar skipped a $326 million interest payment, according to a May 30 filing with the US Securities and Exchange Commission. The company did share that it has a 30-day grace period to make the interest payment "before such non-payment constitutes an Event of Default". "This uncertainty over our spectrum rights has effectively frozen our ability to make decisions regarding our Boost business, including continued network buildout and adversely impacts our ability to implement and adjust our overall business plan and requires us to re-evaluate the deployment of our resources," EchoStar explained in today's filing. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
