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

Published: 2025-05-12 11:05:23 ET SATS

Published on 05/12/2025 at 11:05

ENGLEWOOD, Colo. - EchoStar Corporation (NASDAQ: SATS) announced its financial results for the three months ended March 31, 2025.

* Wireless: Net subscriber growth (+150K), improved churn (7.2% year-over-year), filed Federal Communication Commission (FCC) certification of more than 24,000 5G constructed 'on-air' sites one month ahead of schedule

* Pay TV: Lowest DISH TV churn (1.36%) in over a decade (excluding the pandemic), growth in average revenue per user (ARPU) (+3% year-over-year)

* Broadband & Satellite Services: Enhanced in-flight offerings through universal Ka- and Ku-bands, new international contracts for managed network services, expanded enterprise backlog (+5% year-over-year)

The company continued to build on the solid foundation laid last year as a global leader in connectivity and entertainment solutions and services. The business drove efficiencies across all of its brands and invested in profitable growth. EchoStar's unique set of assets across satellite, wireless, video, managed services and U.S.-based manufacturing led to improvements in many key metrics and reported total revenue of $3.87 billion for the first quarter 2025.

'The EchoStar team performed well against our plan in the first quarter,' said Hamid Akhavan, president and CEO, EchoStar Corporation. 'We are pleased with the progress of our Wireless business and year-over-year net add subscriber growth. In addition, our Pay-TV segment continues to drive improvements in ARPU and churn, and our in-flight connectivity business advances, scaling and driving interest from airlines worldwide.'

Wireless

Wireless consists predominantly of Boost Mobile and network wireless services, and delivered approximately $973 million in revenue for the first quarter.

Continued strong performance fueled by +150K subscriber net adds in Q1

Attracted and retained high-quality customers, contributing to a 7.2% churn improvement year-over-year

Boost Mobile Network recognized as #1 mobile network in New York City by an independent, third-party industry benchmarking expert

Met 3GPP release 17 deployment and completed construction of 24,000 5G sites 'on air' ahead of June FCC requirement date

More than 1.25 million customers on Boost Mobile Network, and loading more than 75% of compatible devices on-net in accelerated markets

Wireless closed the quarter with approximately 7.15 million subscribers

Pay-TV

Pay TV consists of DISH TV and Sling TV. Performance for Pay-TV was in line with expectations and delivered approximately $2.5 billion in revenue for the first quarter.

Focused on operational efficiency, customer loyalty, and improving user experiences to help increase ARPU (+3%) and reduce non-programming variable costs per subscriber

Loyalty and bundled offerings delivered lowest DISH TV churn (1.36%) in over a decade (excluding the pandemic), an 11% reduction year-over-year

Pay-TV closed the quarter with approximately 7.4 million subscribers

Broadband & Satellite Services

Broadband & Satellite Services consists predominantly of the Hughes enterprise and consumer family of brands and delivered approximately $371 million in revenue for the first quarter.

In-flight connectivity business announced universal compatibility with Ka- and Ku-bands, providing greater interoperability compared to single constellation systems in the market, enabling cost-effective flexibility and an optimal passenger experience

Announced membership in Airbus HBCplus program enhancing ability to serve airlines as a factory line fit option at Airbus

Completed Latin American deployment of multi-orbit managed network to support private networks and security services on LEO and geostationary Earth orbit (GEO) satellites

Approximately $1.6 billion contracted backlog revenue at the end of Q1 (+5% year-over-year)

Broadband & Satellite Services closed the quarter with approximately 853,000 subscribers

Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended March 31, 2025 and 2024 (all U.S. GAAP amounts reference results from operations):

https://ir.echostar.com/news-releases/news-release-details/echostar-announces-financial-results-three-months-ended-march-5