EchoStar Corporation has released its financial results for the third quarter and first nine months of 2025, alongside the announcement of EchoStar Capital, a new division aimed at driving future growth through business investments.
The company highlighted two major spectrum transactions during the quarter: a $22.65 billion deal with AT&T and a $19 billion agreement with SpaceX. These transactions were key in resolving the Federal Communications Commission’s (FCC) review of EchoStar’s spectrum usage. Following these deals, the FCC confirmed that EchoStar had fulfilled all requirements related to its 5G network buildout and other obligations. Additionally, EchoStar announced an amended agreement with SpaceX to sell its unpaired AWS-3 wireless spectrum for $2.6 billion in SpaceX stock.
EchoStar Capital will manage new capital from these transactions to support future growth initiatives. Hamid Akhavan has been named Chief Executive Officer of EchoStar Capital, while Charlie Ergen will serve as President and CEO of EchoStar Corporation and take over operational responsibilities for Pay-TV and Wireless business units.
“EchoStar will soon be in the unique position of having substantial available capital, vastly changing its scope of opportunities. Through EchoStar Capital we will fuel EchoStar’s growth into new and complementary arenas, beyond its successful pay-TV, wireless and enterprise business units,” said Hamid Akhavan, CEO, EchoStar Capital. “This is an opportune moment in time for our business to go on the offense as we build upon our 45-year institutional heritage and forge a new path forward for creating and developing opportunities in our strategic expertise domains that will provide attractive value creation for EchoStar and its shareholders.”
As part of changes resulting from these third-quarter transactions, EchoStar began abandoning parts of its 5G network not needed under its hybrid mobile network operator model. This led to a one-time non-cash impairment charge totaling $16.48 billion.
In terms of segment performance for Q3 2025:
– The Wireless segment—mainly Boost Mobile—reported about $939 million in revenue.
– The Pay-TV segment—which includes DISH TV and Sling TV—delivered approximately $2.34 billion.
– Broadband & Satellite Services (including Hughes brands) brought in around $346 million.
Overall revenue was reported at roughly $3.61 billion for the quarter compared to about $3.89 billion during the same period last year. Net loss attributable to EchoStar was approximately $12.78 billion this quarter versus about $142 million last year; this loss was mainly due to the impairment charge following asset decommissioning decisions.
EchoStar explained that it uses OIBDA (Operating Income Before Depreciation and Amortization) and Adjusted OIBDA as non-GAAP measures to help management—and investors—evaluate profitability by excluding certain expenses or one-time items not considered reflective of ongoing operations.
The company’s condensed consolidated financial statements are included with this announcement; further details can be found in their Form 10-Q filed with the Securities and Exchange Commission.
A conference call discussing these earnings is scheduled for November 6 at 11 a.m Eastern Time via ir.echostar.com or by dialing (877) 484-6065 (U.S.) or (201) 689-8846 using conference ID 13756616.
EchoStar operates globally across several brands including Boost Mobile, Sling TV, DISH TV, HughesNet, among others.
“Forward-looking statements” within this release are subject to risks detailed in company filings with the SEC.
