EchoStar Reports $3.725 Billion Revenue, Operating Loss of $213.4 Million for Q2 2025

EchoStar Corporation reported a consolidated revenue of $3.725 billion for the three months ended June 30, 2025, reflecting a decrease of 5.8% compared to $3.953 billion in the same period of 2024. The decline was primarily driven by a reduction in revenue from the Pay-TV segment, which saw service revenue drop to $2.447 billion, down 8.0% year-over-year. The Wireless segment, however, experienced a 4.7% increase in revenue to $934.6 million, attributed to a rise in average revenue per user (ARPU) and a slight increase in subscriber count. The Broadband and Satellite Services segment also faced a revenue decline of 13.8%, totaling $339.8 million.

In terms of profitability, EchoStar reported an operating loss of $213.4 million for the second quarter of 2025, a significant increase from the loss of $65.4 million in the prior year. This deterioration was largely due to increased operating losses in the Wireless segment, which reported a loss of $772.9 million, and a decrease in operating income from the Pay-TV segment. The company’s net loss attributable to EchoStar was $306.1 million, compared to a loss of $205.6 million in the same quarter of 2024.

Operationally, EchoStar's Pay-TV subscriber base decreased to 7.108 million as of June 30, 2025, down from 8.074 million a year earlier. The DISH TV subscriber count fell to 5.323 million, while SLING TV subscribers decreased to 1.785 million. The company reported a churn rate of 1.29% for DISH TV, an improvement from 1.39% in the previous year, indicating some success in retaining subscribers despite competitive pressures. The Wireless segment added approximately 212,000 net subscribers, bringing the total to 7.357 million, a notable recovery from the loss of subscribers in the same quarter of 2024.

Strategically, EchoStar is navigating regulatory challenges, particularly concerning its compliance with Federal Communications Commission (FCC) obligations related to its 5G network build-out. The FCC's review has raised concerns about the company's spectrum licenses, potentially impacting its operational plans and financial condition. The company has indicated that it may need to take significant actions to protect its interests, which could include restructuring or other measures that may adversely affect its financial standing. Looking ahead, EchoStar anticipates continued challenges in maintaining its subscriber base and managing costs, particularly in light of rising programming expenses and competitive pressures in the telecommunications market.