EchoStar (SATS)
EchoStar (SATS) is a satellite communications and connectivity company behind brands like Hughes, DISH TV, and Boost Mobile, and a large holder of wireless spectrum. In ETFpedia it represents the downstream connectivity layer of the U.S. space tech theme. It has agreed to sell major spectrum blocks to AT&T and SpaceX while flagging going-concern doubt.
| Ticker | SATS |
|---|---|
| Exchange | Nasdaq |
| Sector | Space · Satellite Communications |
| Country | United States |
| Wikidata | Q1280748 |
| Last updated | 2026-06-04 |
Next event:Next earnings · Q2 2026, estimated · Calendar-estimated from prior years and not confirmed by EchoStar; check IR. Last report: Q1 2026 for the three months ended Mar 31, 2026. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-12)
EchoStar reported Q1 2026 total revenue of $3.67 billion, down from $3.87 billion a year earlier, and a net loss attributable to EchoStar of $146.9 million, or $0.51 per diluted share, narrower than the $202.7 million loss in the prior-year quarter. Management flagged substantial doubt about the company's ability to continue as a going concern while its large spectrum sales await approval.
| Total revenue | $3.67B-5%YoY · Down from $3.87B a year earlier |
|---|---|
| Net loss attributable to EchoStar | -$146.9M · Narrower than -$202.7M a year earlier; -$0.51 per diluted share |
Recent & upcoming events
- · Q1 2026 results and going-concern warning.Revenue $3.67B (down from $3.87B) and a narrower net loss of $146.9M; management cited substantial doubt about going-concern status pending spectrum-sale approvals. (source)
- · Agreements to sell spectrum to AT&T and SpaceX.Agreed to sell 3.45-3.55 GHz and 600 MHz spectrum and extend leases to AT&T for about $22.65 billion, and AWS-4, H-Block and AWS-3 spectrum to SpaceX for roughly $22 billion in total consideration. (source)
Q1 2026 figures are from EchoStar's earnings release and Form 10-Q. Spectrum-sale terms are as disclosed by the company; transactions remained subject to regulatory and other approvals as of this snapshot.
Figures are as of 2026-06-04 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does EchoStar do?
EchoStar is a satellite and connectivity operator with a foot in several markets at once. Through Hughes it sells satellite broadband and enterprise networking, through DISH TV it runs a pay-TV business, and through Boost Mobile it offers wireless service, all on top of large satellite and spectrum assets that span consumer and enterprise customers across multiple continents. The company reported Q1 2026 revenue of $3.67 billion (EchoStar IR). Its shares trade on Nasdaq under the ticker SATS.
Why is EchoStar a U.S. space tech company?
The U.S. space tech theme runs from upstream launch and hardware down to the connectivity and services that reach end users. EchoStar lives at that downstream layer. It does not build rockets; it operates satellite broadband and pay-TV networks and, crucially, owns spectrum, the licensed airwaves that satellite and terrestrial wireless both depend on. That spectrum has become the company’s defining asset and its current strategic pivot.
“EchoStar has agreed to sell 3.45-3.55 GHz and 600 MHz spectrum and extend certain leases to AT&T for $22.65 billion in cash, and to sell AWS-4, H-Block and AWS-3 spectrum to SpaceX for total consideration of approximately $22 billion.”
— EchoStar Q1 2026 results (EchoStar IR)
What did EchoStar report most recently?
In Q1 2026 (the quarter ended March 31, 2026), EchoStar reported total revenue of $3.67 billion, down from $3.87 billion a year earlier, with subscriber declines across its legacy pay-TV and broadband bases (EchoStar IR). The net loss attributable to EchoStar was $146.9 million, or $0.51 per diluted share, narrower than the $202.7 million loss in the prior-year quarter. The larger picture is harder: full-year 2025 carried very large non-cash impairment and other charges, producing a substantial net loss on revenue of about $15.0 billion (10-Q).
What is the spectrum sale, and what is the going-concern risk?
EchoStar’s strategy now turns on monetizing spectrum. It has agreed to sell 3.45-3.55 GHz and 600 MHz spectrum and extend certain leases to AT&T for about $22.65 billion in cash, and to sell AWS-4, H-Block, and AWS-3 spectrum to SpaceX for roughly $22 billion in total consideration (EchoStar IR). Because those transactions remain subject to regulatory and other approvals and had not closed, and given potential AWS-3 re-auction payments, management stated that substantial doubt exists about the company’s ability to continue as a going concern (10-Q). Investors should read this honestly: the value case depends heavily on closing these deals.
What are the risks for EchoStar?
- Going concern. Management itself has flagged substantial doubt about EchoStar’s ability to continue as a going concern pending the spectrum-sale closings.
- Deal execution. The AT&T and SpaceX spectrum sales are large, complex, and subject to regulatory approval; delay or failure would change the entire thesis.
- Declining legacy businesses. Pay-TV and satellite broadband subscriber bases are shrinking, pressuring revenue.
- Leverage and losses. Heavy debt and continued net losses, including large 2025 impairments, weigh on the balance sheet.
Related securities, concepts & terms
- U.S. Space Techparent
- Globalstar (GSAT)sibling
Related indices & ETFs
- Akros U.S. Space Tech Index · AkrosThe U.S. space-tech index that includes EchoStar as a downstream member.
Frequently asked questions about EchoStar
What does EchoStar do?
EchoStar is a satellite communications and connectivity company. Through brands including Hughes, DISH TV, and Boost Mobile, it provides satellite broadband, pay-TV, and wireless service across multiple continents, and it holds large wireless spectrum positions. It reported Q1 2026 revenue of $3.67 billion.
Why is EchoStar part of the U.S. space tech theme?
EchoStar operates at the downstream connectivity layer of the space economy. It runs satellite broadband and pay-TV networks and owns spectrum and satellite infrastructure that serve consumers and enterprises, rather than building launch vehicles or spacecraft hardware upstream.
Is EchoStar selling its spectrum, and is it a going concern?
EchoStar has agreed to sell 3.45-3.55 GHz and 600 MHz spectrum and extend certain leases to AT&T for about $22.65 billion, and to sell AWS-4, H-Block, and AWS-3 spectrum to SpaceX for roughly $22 billion in total consideration. Because those deals await regulatory approval and given potential AWS-3 re-auction payments, management stated in Q1 2026 that substantial doubt exists about EchoStar's ability to continue as a going concern.
Is EchoStar profitable?
No. EchoStar reported a Q1 2026 net loss attributable to EchoStar of $146.9 million, or $0.51 per diluted share, narrower than the $202.7 million loss a year earlier. Full-year 2025 included very large non-cash impairment and other charges, producing a substantial net loss on revenue of about $15.0 billion.
When does EchoStar report its next earnings?
EchoStar is expected to report Q2 2026 results in early-to-mid August 2026. That timing is calendar-estimated and unconfirmed, so check EchoStar's investor relations page. It last reported Q1 2026 for the three months ended March 31, 2026.
Sources & references
- EchoStar Announces Financial Results for the Three Months Ended March 31, 2026 · EchoStar Corporation, 2026-05-12
- EchoStar Corp · Q1 2026 quarterly report (Form 10-Q) · EchoStar Corporation / SEC EDGAR, 2026-05-12
- EchoStar Corp · FY2025 annual report (Form 10-K) · EchoStar Corporation / SEC EDGAR, 2026-02-27
- EchoStar Corporation · Quarterly results and investor calendar · EchoStar Corporation (Investor Relations), 2026-06-04
- EchoStar Corp · Q1 2026 quarterly report (Form 10-Q) — Q1 loss and going-concern disclosure · EchoStar Corporation / SEC EDGAR, 2026-05-12