ENGLEWOOD, Colo., Aug. 03, 2026 (GLOBE NEWSWIRE) -- EchoStar Corporation (NASDAQ: ECHO) reported second quarter 2026 total revenue of $3.58 billion, compared to $3.72 billion in 2025. Net income attributable to EchoStar in the second quarter of 2026 totaled $8.46 billion, compared to a net loss of $306.13 million in the year-ago quarter. The net income in 2026 was primarily attributable to a non-cash gain on deconsolidation totaling approximately $9.73 billion. Excluding the tax affected impact of the non-cash adjustment for 2026, the net income attributable to EchoStar would have been approximately $49.46 million. Diluted earnings per share was $24.12 in the second quarter of 2026, compared to a loss of $1.06 in 2025.
Pay-TV
- Net pay-TV subscribers decreased approximately 241,000 in the second quarter of 2026, compared to a decrease of approximately 261,000 in the year-ago quarter.
- The company closed the quarter with 6.39 million pay-TV subscribers, including 4.68 million DISH TV subscribers and 1.71 million Sling TV subscribers.
Retail Wireless
- Retail wireless subscribers decreased by approximately 118,000 in the second quarter of 2026, compared to an increase of 212,000 in the year-ago quarter.
- The company closed the quarter with 7.38 million wireless subscribers.
Broadband and Satellite Services
- Broadband subscribers decreased by approximately 59,000 in the second quarter of 2026, compared to a decrease of 34,000 in the year-ago quarter.
- The company closed the quarter with 622,000 broadband subscribers.
Additional Details
Detailed financial data and other information are available in EchoStar’s Form 10-Q for the quarter ending June 30, 2026, filed with the Securities and Exchange Commission.
EchoStar will host a conference call to discuss its earnings on Monday, August 3, 2026, at 12:00 p.m. Eastern Time.
The conference call will be broadcast live in listen-only mode on EchoStar's investor relations website at ir.echostar.com. To attend the call, please dial: (877) 484-6065 (U.S.) or +1 (201) 689-8846. When prompted on dial-in, please utilize the conference ID 13762022 or ask for the "EchoStar Corporation Q2 2026 Earnings Conference Call.” Please dial in at least 10 minutes before the call to ensure timely participation.
Set forth below is a table highlighting certain of EchoStar's segment results for the three months ended June 30, 2026 and 2025 (all U.S. GAAP amounts reference results from operations):
For the Three Months Ended For the Six Months Ended June 30, June 30, 2026 2025 2026 2025 (In thousands)Revenue Pay-TV$2,248,534 $2,462,249 $4,542,798 $5,000,976 Wireless 929,023 931,803 1,891,514 1,901,471 Broadband and Satellite Services 316,904 339,780 646,560 710,438 Other 91,548 71,876 182,531 134,173 Eliminations (9,845) (80,749) (19,750) (152,341)Total$3,576,164 $3,724,959 $7,243,653 $7,594,717 Net Income (loss) attributable to EchoStar$8,462,372 $(306,132) $8,315,487 $(508,801) OIBDA Pay-TV$600,656 $663,377 $1,128,089 $1,393,250 Wireless 50,760 (98,909) 64,477 (172,616)Broadband and Satellite Services 100,474 67,699 194,598 153,402 Other (69,118) (337,075) (145,108) (661,556)Eliminations 709 (15,445) 873 (32,632)Total$683,481 $279,647 $1,242,929 $679,848 Adjusted OIBDA Pay-TV$600,656 $663,377 $1,128,089 $1,393,250 Wireless 50,760 (98,909) 64,477 (172,616)Broadband and Satellite Services 100,199 67,699 194,323 153,402 Other (71,129) (337,075) (213,278) (661,556)Eliminations 709 (15,445) 873 (32,632)Total$681,195 $279,647 $1,174,484 $679,848 Purchases of property and equipment (including capitalized interest related to regulatory authorizations) Pay-TV$55,262 $78,580 $143,390 $140,968 Wireless 28,992 — 57,825 — Broadband and Satellite Services 6,942 43,118 18,552 75,221 Other 1,103 625,203 5,967 909,196 $92,299 $746,901 $225,734 $1,125,385Reconciliation of GAAP to Non-GAAP Measurement:
Pay-TV Wireless Broadband and Satellite Services Other Eliminations Consolidated TotalFor the Three Months Ended June 30, 2026 (In thousands)Segment operating income (loss) $542,341 $(97) $50,457 $(80,472) $709 $512,938 Depreciation and amortization 58,315 50,857 50,017 11,354 — 170,543 OIBDA 600,656 50,760 100,474 (69,118) 709 683,481 Impairments and other — — (275) (2,011) — (2,286)Adjusted OIBDA $600,656 $50,760 $100,199 $(71,129) $709 $681,195 For the Three Months Ended June 30, 2025 Segment operating income (loss) $595,552 $(118,159) $(36,738) $(654,788) $725 $(213,408)Depreciation and amortization 67,825 19,250 104,437 317,713 (16,170) 493,055 OIBDA 663,377 (98,909) 67,699 (337,075) (15,445) 279,647 Impairments and other — — — — — — Adjusted OIBDA $663,377 $(98,909) $67,699 $(337,075) $(15,445) $279,647 Pay-TV Wireless Broadband and Satellite Services Other Eliminations Consolidated TotalFor the Six Months Ended June 30, 2026 (In thousands)Segment operating income (loss) $1,013,908 $(35,879) $94,641 $(167,767) $882 $905,785 Depreciation and amortization 114,181 100,356 99,957 22,659 (9) 337,144 OIBDA 1,128,089 64,477 194,598 (145,108) 873 1,242,929 Impairments and other — — (275) (68,170) — (68,445)Adjusted OIBDA $1,128,089 $64,477 $194,323 $(213,278) $873 $1,174,484 For the Six Months Ended June 30, 2025 Segment operating income (loss) $1,248,982 $(212,053) $(55,933) $(1,283,198) $662 $(301,540)Depreciation and amortization 144,268 39,437 209,335 621,642 (33,294) 981,388 OIBDA 1,393,250 (172,616) 153,402 (661,556) (32,632) 679,848 Impairments and other — — — — — — Adjusted OIBDA $1,393,250 $(172,616) $153,402 $(661,556) $(32,632) $679,848Note on Use of Non-GAAP Financial Measures
OIBDA is defined as “Operating income (loss)” plus “Depreciation and amortization.”
Adjusted OIBDA is defined as "Operating income (loss)" plus "Depreciation and amortization" and "Impairments and other."
OIBDA and Adjusted OIBDA, which are presented by segment above, are non-GAAP measures reconciled to "Operating income (loss)" and do not purport to be alternatives to operating income (loss) as a measure of operating performance. We believe OIBDA 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.
We believe Adjusted OIBDA is useful to management, investors and other users of our financial information in evaluating operating profitability of our business segments as it excludes one-time, non-cash items that we do not consider to be reflective of our ongoing operating performance.
About EchoStar Corporation
EchoStar Corporation (Nasdaq: ECHO) 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 www.echostar.com and follow EchoStar on X (Twitter) and LinkedIn.
©2026 EchoStar. Hughes, HughesNet, DISH, and Boost Mobile are registered trademarks of one or more affiliate companies of EchoStar Corp.
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, 2025 as filed with the Securities and Exchange Commission and in the other documents EchoStar files with the Securities and Exchange Commission from time to time.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands, except share amounts)
(Unaudited)
As of June 30, December 31, 2026
2025
Assets Current Assets: Cash and cash equivalents$439,988 $1,883,074 Current restricted cash, cash equivalents and marketable investment securities 1,055,678 175,838 Marketable investment securities 56,205 1,100,891 Trade accounts receivable, net of allowance for credit losses of $167,370 and $79,590, respectively 905,613 1,273,849 Inventory 322,390 380,647 Prepaids and other assets 229,671 284,194 Regulatory authorizations held for sale, net 16,822,253 — Other current assets 21,926 34,678 Total current assets 19,853,724 5,133,171 Noncurrent Assets: Restricted cash, cash equivalents and marketable investment securities 55,081 176,203 Property and equipment, net 1,760,321 2,243,515 Regulatory authorizations, including restricted, net 17,116,754 34,548,952 Other investments, net 212,562 194,046 Operating lease assets 66,696 214,549 Intangible assets, net 49,124 54,413 Other noncurrent assets, net 311,136 451,506 Total noncurrent assets 19,571,674 37,883,184 Total assets$39,425,398 $43,016,355 Liabilities and Stockholders’ Equity (Deficit) Current Liabilities: Trade accounts payable$251,882 $541,706 Deferred revenue and other 221,389 639,173 Accrued programming — 1,224,222 Accrued interest 170,350 309,462 Other accrued expenses and liabilities 1,727,475 2,327,587 Current portion of debt, finance lease and other obligations 1,446,316 7,321,269 Total current liabilities 3,817,412 12,363,419 Long-Term Obligations, Net of Current Portion: Long-term debt, finance lease and other obligations, net of current portion 15,985,387 18,658,602 Deferred tax liabilities, net 3,406,850 598,590 Operating lease liabilities 120,325 4,137,269 Long-term deferred revenue and other long-term liabilities 1,894,020 1,446,477 Total long-term obligations, net of current portion 21,406,582 24,840,938 Total liabilities 25,223,994 37,204,357 Commitments and Contingencies Stockholders’ Equity (Deficit): Class A common stock, $0.001 par value, 1,600,000,000 shares authorized, 160,892,524 and 159,266,457 shares issued, 159,103,504 and 157,477,437 shares outstanding, respectively 161 159 Class B common stock, $0.001 par value, 800,000,000 shares authorized, 131,348,468 shares issued and outstanding 131 131 Additional paid-in capital 8,949,104 8,875,937 Accumulated other comprehensive income (loss) (182,530) (183,188)Accumulated earnings (deficit) 5,436,744 (2,878,743)Treasury stock, at cost, 1,789,020 shares (48,512) (48,512)Total EchoStar stockholders’ equity (deficit) 14,155,098 5,765,784 Noncontrolling interests 46,306 46,214 Total stockholders’ equity (deficit) 14,201,404 5,811,998 Total liabilities and stockholders’ equity (deficit)$39,425,398 $43,016,355
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per share amounts)
(Unaudited)
For the Three Months Ended For the Six Months Ended June 30, June 30, 2026
2025
2026
2025
Revenue: Service revenue$3,301,538 $3,540,107 $6,677,078 $7,146,263 Equipment sales and other revenue 274,626 184,852 566,575 448,454 Total revenue 3,576,164 3,724,959 7,243,653 7,594,717 Costs and Expenses (exclusive of depreciation and amortization): Cost of services 1,928,151 2,461,631 3,926,419 4,893,829 Cost of sales - equipment and other 418,970 354,187 955,877 793,695 Selling, general and administrative expenses 547,848 629,494 1,186,873 1,227,345 Depreciation and amortization 170,543 493,055 337,144 981,388 Impairments and other (2,286) — (68,445) — Total costs and expenses 3,063,226 3,938,367 6,337,868 7,896,257 Operating income (loss) 512,938 (213,408) 905,785 (301,540) Other Income (Expense): Interest income 40,912 65,369 70,321 130,898 Interest expense, net of amounts capitalized (509,146) (279,232) (1,101,806) (565,287)Deconsolidation gain 9,728,958 — 9,728,958 — Other, net 16,452 35,137 18,636 76,527 Total other income (expense) 9,277,176 (178,726) 8,716,109 (357,862) Income (loss) before income taxes 9,790,114 (392,134) 9,621,894 (659,402)Income tax (provision) benefit, net (1,327,569) 85,290 (1,306,649) 149,277 Net income (loss) 8,462,545 (306,844) 8,315,245 (510,125) Less: Net income (loss) attributable to noncontrolling interests, net of tax 173 (712) (242) (1,324)Net income (loss) attributable to EchoStar$8,462,372 $(306,132) $8,315,487 $(508,801) Weighted-average common shares outstanding - Class A and B common stock: Basic 290,141 287,505 289,581 287,012 Diluted 351,622 287,505 351,432 287,012 Earnings per share - Class A and B common stock: Basic net income (loss) per share attributable to EchoStar$29.17 $(1.06) $28.72 $(1.77)Diluted net income (loss) per share attributable to EchoStar$24.12 $(1.06) $23.76 $(1.77)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
For the Six Months Ended June 30, 2026
2025
Cash Flows From Operating Activities: Net income (loss)$8,315,245 $(510,125)Adjustments to reconcile net income (loss) to net cash flows from operating activities: Depreciation and amortization 337,144 981,388 Impairments and other (68,445) — Deconsolidation gain (9,728,958) — Realized and unrealized losses (gains) and impairments on investments and other (8,472) (64,831)Non-cash, stock-based compensation 23,363 16,123 Interest expense paid in kind on long-term debt — 114,756 Deferred tax expense (benefit) 1,289,307 (174,719)Changes in allowance for credit losses (5,352) 15,603 Change in long-term deferred revenue and other long-term liabilities (82,222) 420 Other, net 100,005 609 Changes in operating assets and operating liabilities, net 56,709 (164,957)Net cash flows from operating activities 228,324 214,267 Cash Flows From Investing Activities: Purchases of marketable investment securities (577,120) (2,247,724)Sales and maturities of marketable investment securities 1,571,636 1,526,245 Purchases of property and equipment (225,734) (551,600)Capitalized interest related to regulatory authorizations — (573,785)SpaceX Reimbursement of Cash Interim Debt Service Payments 413,663 — Cash divested from the Deconsolidated Entities (362,968) — Sale of Fiber business — 47,207 Other, net (7,743) (64)Net cash flows from investing activities 811,734 (1,799,721) Cash Flows From Financing Activities: Repayment of debt, finance lease and other obligations (16,221) (46,272)Redemption and repurchases of debt (1,787,082) (456,049)Proceeds from issuance of debt — 150,000 Debt issuance costs and debt (discount) premium — (946)Early debt redemption gains (losses) — 11,465 Net proceeds from Class A common stock options exercised and stock issued under the Employee Stock Purchase Plan 21,689 6,994 Other, net 2,700 (31,189)Net cash flows from financing activities (1,778,914) (365,997) Effect of exchange rates on cash and cash equivalents 19 2,965 Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents (738,837) (1,948,486)Cash, cash equivalents, restricted cash and cash equivalents, beginning of period 2,182,155 4,593,804 Cash, cash equivalents, restricted cash and cash equivalents, end of period$1,443,318 $2,645,318