Echostar ( (SATS) ) has released its Q4 earnings. Here is a breakdown of the information Echostar presented to its investors.
EchoStar Corporation is a leading provider of technology, networking services, and television entertainment, offering solutions under various brands such as EchoStar, Boost Mobile, Sling TV, and DISH TV across consumer, enterprise, operator, and government sectors globally.
EchoStar’s financial results for the year ending December 31, 2024, reveal a total revenue of $15.83 billion, a decrease from $17.02 billion in the previous year, primarily due to a decline in Pay-TV subscribers. Despite the revenue drop, the company reported a significantly reduced net loss of $119.55 million compared to $1.70 billion in 2023, aided by a substantial noncash gain from a debt exchange offer.
Key financial metrics indicate a positive trend in operational improvements, with consolidated OIBDA rising to $1.63 billion from $1.32 billion in 2023. The Pay-TV segment saw a reduction in subscriber losses, while the wireless segment experienced a net increase in subscribers, marking consecutive quarter-over-quarter growth. The launch of the EchoStar XXIV satellite service contributed to a reduction in Broadband Satellite subscriber losses.
Looking forward, EchoStar’s management remains optimistic about capitalizing on favorable trends in their wireless business and continuing to deliver positive free cash flow in 2025, as highlighted by CEO Hamid Akhavan’s remarks on the company’s strategic developments.