EchoStar Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>EchoStar Corp. has filed its annual 10-K report for the fiscal year ended December 31, 2023.</b>

AI Summary

EchoStar CORP (SATS) filed a Annual Report (10-K) with the SEC on February 29, 2024. EchoStar Corp. filed its 2023 Form 10-K on February 29, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 9601 South Meridian Boulevard, Englewood, CO 80112. EchoStar Corp. was formerly known as EchoStar Holding Corp. until a name change on October 17, 2007. The company's SIC code is 4899 for Communication Services, NEC.

Why It Matters

For investors and stakeholders tracking EchoStar CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of EchoStar's financial performance, operational activities, and risk factors for the 2023 fiscal year, which is crucial for investors to assess the company's current standing and future prospects. Understanding the details within this report, such as revenue segments, debt levels, and executive compensation, is essential for stakeholders to make informed investment decisions regarding EchoStar Corp. (SATS).

Risk Assessment

Risk Level: medium — EchoStar CORP shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine disclosure for public companies. However, the specific financial details and risk factors within the report will determine the actual risk level for investors.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand EchoStar's performance and potential challenges in 2023.

Key Numbers

• 20231231 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 20240229 — Filing Date (FILED AS OF DATE)
• 140 — Public Document Count (PUBLIC DOCUMENT COUNT)
• 4899 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• EchoStar CORP (company) — FILER
• EchoStar Holding CORP (company) — FORMER COMPANY
• NV (jurisdiction) — STATE OF INCORPORATION
• Englewood (location) — CITY
• CO (location) — STATE
• 303-723-1000 (phone_number) — BUSINESS PHONE

FAQ

Industry Context

EchoStar Corp. operates in the communication services sector, providing satellite and terrestrial services.

Regulatory Implications

The company is subject to regulations governing telecommunications and satellite operations in the United States and internationally.

What Investors Should Do

1. Analyze EchoStar's revenue streams and growth trends from the 10-K.
2. Assess the company's debt structure and leverage ratios.
3. Identify and evaluate the key risks and uncertainties disclosed in the filing.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-29: Filing Date — Date EchoStar Corp. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial 10-K filing provided for analysis. Historical comparison data is not available in this extract.

Key Financial Figures

• $0.001 — hich registered Class A common stock, $0.001 par value SATS The Nasdaq Stock Mar
• $0.01 — Network Class A common stock, par value $0.01 per share ("DISH Network Class A Common
• $30 billion — yment We have invested a total of over $30 billion in Wireless spectrum licenses, which in
• $10 billion — spectrum licenses, which includes over $10 billion in initial noncontrolling investments i
• $9 billion — less spectrum licenses does not include $9 billion of capitalized interest related to the

Filing Documents

• tmb-20231231x10k.htm (10-K) — 7121KB
• tmb-20231231xex21.htm (EX-21) — 23KB
• tmb-20231231xex23.htm (EX-23) — 5KB
• tmb-20231231xex24.htm (EX-24) — 44KB
• tmb-20231231xex3d1.htm (EX-3.1) — 100KB
• tmb-20231231xex3d2.htm (EX-3.2) — 120KB
• tmb-20231231xex31d1.htm (EX-31.1) — 16KB
• tmb-20231231xex31d2.htm (EX-31.2) — 15KB
• tmb-20231231xex32d1.htm (EX-32.1) — 8KB
• tmb-20231231xex32d2.htm (EX-32.2) — 8KB
• tmb-20231231xex97.htm (EX-97) — 125KB
• 0001558370-24-002209.txt (&nbsp;) — 30349KB
• tmb-20231231.xsd (EX-101.SCH) — 146KB
• tmb-20231231_cal.xml (EX-101.CAL) — 130KB
• tmb-20231231_def.xml (EX-101.DEF) — 712KB
• tmb-20231231_lab.xml (EX-101.LAB) — 1194KB
• tmb-20231231_pre.xml (EX-101.PRE) — 1031KB
• tmb-20231231x10k_htm.xml (XML) — 7074KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 24 Item 1B. Unresolved Staff Comments 51 Item 1C Cybersecurity 52 Item 2.

Properties

Properties 53 Item 3.

Legal Proceedings

Legal Proceedings 53 Item 4. Mine Safety Disclosures 53 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 53 Item 6. [Reserved] 54 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 55 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 101 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 103 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 103 Item 9A.

Controls and Procedures

Controls and Procedures 103 Item 9B. Other Information 104 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 104 PART III Item 10. Directors, Executive Officers and Corporate Governance 104 Item 11.

Executive Compensation

Executive Compensation 105 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 105 Item 13. Certain Relationships and Related Transactions, and Director Independence 105 Item 14. Principal Accounting Fees and Services 105 PART IV Item 15. Exhibits, Financial Statement Schedules 105 Item 16. Form 10-K Summary 114

Signatures

Signatures 115 Index to Consolidated Financial Statements F-1 Table of Contents DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS Unless otherwise required by the context, in this report, the words "EchoStar," the "Company," "we," "our" and "us" refer to EchoStar Corporation and its subsidiaries, "DISH Network" refers to DISH Network Corporation, our wholly owned subsidiary, and its subsidiaries, and "DISH DBS" refers to DISH DBS Corporation, a wholly-owned, indirect subsidiary of DISH Network, and its subsidiaries. This Annual Report on Form 10-K contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, in particular, statements about our plans, objectives and strategies, growth opportunities in our industries and businesses, our expectations regarding future results, financial condition, liquidity and capital requirements, our estimates regarding the impact of regulatory developments and legal proceedings, and other trends and projections. Forward-looking statements are not historical facts and may be identified by words such as "future," "anticipate," "intend," "plan," "goal," "seek," "believe," "estimate," "expect," "predict," "will," "would," "could," "can," "may," and similar terms. These forward-looking statements are based on information available to us as of the date of this Annual Report on Form 10-K and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. Accordingly, actual performance, events or results could differ materially from those expressed or implied in the forward-looking statements due to a number of factors, including, but not limited to, those summarized below: SUMMARY OF RISK FACTORS Risks Related to the Integration Although we expect that the Merger will result in synerg

BUSINESS

Item 1. BUSINESS OVERVIEW EchoStar Corporation is a holding company that was organized in October 2007 as a corporation under the laws of the State of Nevada. Its subsidiaries (which together with EchoStar Corporation are referred to as "EchoStar," the "Company," "we," "us" and/or "our," unless otherwise required by the context). Our Class A common stock is publicly traded on the NASDAQ Global Select Market ("NASDAQ") under the symbol "SATS." Our principal executive offices are located at 9601 South Meridian Boulevard, Englewood, Colorado 80112 and our telephone number is (303) 723- 1000. Recent Developments Merger with DISH Network On December 31, 2023, we completed the acquisition of DISH Network pursuant to the Amended and Restated Agreement and Plan of Merger, dated as of October 2, 2023 (the "Amended Merger Agreement"), by and among us, EAV Corp., a Nevada corporation and our wholly owned subsidiary ("Merger Sub"), and DISH Network, pursuant to which we acquired DISH Network by means of the merger of Merger Sub with and into DISH Network (the "Merger"), with DISH Network surviving the Merger as our wholly owned subsidiary. On the terms and subject to the conditions set forth in the Amended Merger Agreement, on December 31, 2023, at 11:59 p.m. ET (the "Effective Time"), each share of DISH Network Class A common stock, par value $0.01 per share ("DISH Network Class A Common Stock") and DISH Network Class C common stock, par value $0.01 per share ("DISH Network Class C Common Stock") outstanding immediately prior to the Effective Time, was converted into the right to receive a number of validly issued, fully paid and non-assessable shares of EchoStar Class A common stock, par value $0.001 per share ("EchoStar Class A Common Stock") equal to 0.350877 (the "Exchange Ratio"). On the terms and subject to the conditions set forth in the Amended Merger Agreement, at the Effective Time, each share of DISH Network Class B common stock, par value $0.01 per share ("

View Full Filing

View this 10-K filing on SEC EDGAR