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,
2025
2024
2025
2024
(in thousands)
Revenue
Pay-TV
$
2,462,249
$
2,676,284
$
5,000,976
$
5,402,862
Wireless
934,631
892,728
1,907,406
1,806,734
Broadband and Satellite Services
339,780
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)
OIBDA
Pay-TV
$
663,377
$
753,001
$
1,393,250
$
1,508,511
Wireless
(451,980)
(394,439)
(867,044)
(757,935)
Broadband and Satellite Services
67,699
82,392
153,402
161,679
All Other & Eliminations
551
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
Wireless
625,203
560,468
909,196
1,109,641
Broadband and Satellite Services
43,118
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, 2025
Pay-TV
Wireless
Broadband and Satellite Services
Consolidated
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, 2025
Pay-TV
Wireless
Broadband and
Satellite Services
Consolidated
Eliminations
(In thousands)
Segment operating income (loss)
$
1,248,982
$
(1,495,250)
$
