EchoStar

SATS

Market cap $21.3B

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EchoStar has sold another $2.6 billion in spectrum to Elon Musk's SpaceX, giving the wireless and pay-TV company a stake of about 3% that is currently worth $11 billion. The transaction, announced Thursday along with the company's third-quarter results, builds on a $17 billion spectrum deal between the companies last September.

EchoStar Corporation ( SATS ) Q3 2025 Earnings Call November 6, 2025 11:00 AM EST Company Participants Dean Manson - Chief Legal Officer & Secretary Hamid Akhavan - CEO, President & Director Charles Ergen - Co-Founder & Executive Chairman of the Board Conference Call Participants John Hodulik - UBS Investment Bank, Research Division Brent Penter - Raymond James & Associates, Inc., Research Division David Barden - New Street Research LLP Walter Piecyk - LightShed Partners, LLC Michael Rollins - Citigroup Inc., Research Division Benjamin Swinburne - Morgan Stanley, Research Division Bryan Kraft - Deutsche Bank AG, Research Division Christopher Quilty - Quilty Space Inc., Research Division Presentation Operator Greetings, and welcome to the EchoStar Corporation Third Quarter 2025 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Although the revenue and EPS for EchoStar (SATS) give a sense of how its business performed in the quarter ended September 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

EchoStar's third-quarter loss widened due to lower revenue and a charge on its multibillion-dollar sales of wireless spectrum, and the company appointed a new CEO.

EchoStar (SATS) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of a loss of $1.23 per share. This compares to a loss of $0.52 per share a year ago.

EchoStar said it would sell a set of wireless spectrum licenses to SpaceX for about $2.6 billion in exchange for stock in the space startup, expanding on the $17 billion deal the companies struck in September.

EchoStar Capital Division Announced to Spearhead Future Growth Opportunities Wireless: Net subscriber growth (+223K), improved churn (2.86%, an improvement of 13 basis points year-over-year), improved average revenue per user (ARPU) (2.6% year-over-year) and continued to have the highest prepaid ARPU in the industry. Pay-TV: DISH TV churn (1.33%) is at a historic low for the third quarter, growth in ARPU (+1% year-over-year) and continued increase in viewership engagement (hours/viewer).