EchoStar Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>EchoStar Corp. filed its Q1 2024 10-Q, detailing financial performance and position.</b>

AI Summary

EchoStar CORP (SATS) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. EchoStar Corp. filed its 10-Q report for the period ending March 31, 2024. The filing includes financial data for the first quarter of 2024. Key financial statement items such as revenue, net income, and EPS are detailed. Balance sheet information including assets, liabilities, and equity is presented. The report covers various financial metrics and disclosures relevant to investors.

Why It Matters

For investors and stakeholders tracking EchoStar CORP, this filing contains several important signals. This filing provides crucial insights into EchoStar's financial health and operational performance during the first quarter of 2024, enabling investors to assess recent trends. The detailed financial statements and disclosures within the 10-Q are essential for understanding the company's current financial standing, debt levels, and equity structure.

Risk Assessment

Risk Level: — EchoStar CORP shows moderate risk based on this filing. The company's financial performance is subject to market conditions and operational execution, as indicated by the detailed financial statements in the 10-Q.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to assess EchoStar's current financial health and future prospects.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-08 — Filing Date (Filed as of date)

Key Players & Entities

• EchoStar CORP (company) — Filer name
• SATS (company) — Ticker symbol
• 2024-03-31 (date) — Conformed period of report
• 2024-05-08 (date) — Filed as of date
• NV (jurisdiction) — State of incorporation
• 303-723-1000 (phone) — Business phone

FAQ

Industry Context

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

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular reporting of financial information.

What Investors Should Do

1. Review the detailed financial statements for Q1 2024.
2. Analyze the balance sheet for changes in assets, liabilities, and equity.
3. Examine any disclosed risk factors and their potential impact.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, following previous filings which would include annual reports and prior quarterly reports.

Key Financial Figures

• $0.001 — hich registered Class A common stock, $0.001 par value SATS The Nasdaq Stock Mar

Filing Documents

• tmb-20240331x10q.htm (10-Q) — 3062KB
• tmb-20240331xex31d1.htm (EX-31.1) — 17KB
• tmb-20240331xex31d2.htm (EX-31.2) — 16KB
• tmb-20240331xex32d1.htm (EX-32.1) — 9KB
• tmb-20240331xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-007171.txt (&nbsp;) — 13368KB
• tmb-20240331.xsd (EX-101.SCH) — 82KB
• tmb-20240331_cal.xml (EX-101.CAL) — 87KB
• tmb-20240331_def.xml (EX-101.DEF) — 383KB
• tmb-20240331_lab.xml (EX-101.LAB) — 650KB
• tmb-20240331_pre.xml (EX-101.PRE) — 527KB
• tmb-20240331x10q_htm.xml (XML) — 2853KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Disclosure Regarding Forward-Looking Statements i Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) 3 Condensed Consolidated Statements of Cash Flows 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 53 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 85 Item 4.

Controls and Procedures

Controls and Procedures 85

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 85 Item 1A.

Risk Factors

Risk Factors 85 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 86 Item 3. Defaults Upon Senior Securities None Item 4. Mine Safety Disclosures None Item 5. Other Information 86 Item 6. Exhibits 86

Signatures

Signatures 87 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 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 Quarterly Report on Form 10-Q 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 Quarterly Report on Form 10-Q 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 synergies and other benefits, those synergies and benefits

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS ECHOSTAR CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share amounts) (Unaudited) As of March 31, December 31, 2024 2023 Assets Current Assets: Cash and cash equivalents $ 613,702 $ 1,821,376 Marketable investment securities 152,649 623,044 Trade accounts receivable, net of allowance for credit losses of $ 84,906 and $ 74,390 , respectively 1,023,089 1,122,139 Inventory 632,952 665,169 Prepaids and other assets 677,982 644,005 Other current assets 16,165 16,081 Total current assets 3,116,539 4,891,814 Noncurrent Assets: Restricted cash, cash equivalents and marketable investment securities 120,979 118,065 Property and equipment, net 9,589,433 9,561,834 Regulatory authorizations, net 38,809,600 38,572,980 Other investments, net 309,189 314,370 Operating lease assets 3,092,070 3,065,448 Intangible assets, net 127,670 172,892 Other noncurrent assets, net 390,937 411,491 Total noncurrent assets 52,439,878 52,217,080 Total assets $ 55,556,417 $ 57,108,894 Liabilities and Stockholders' Equity (Deficit) Current Liabilities: Trade accounts payable $ 573,299 $ 774,011 Deferred revenue and other 712,783 754,658 Accrued programming 1,485,798 1,427,762 Accrued interest 408,134 297,678 Other accrued expenses and liabilities 1,734,288 1,717,826 Current portion of long-term debt and finance lease obligations (Note 9) 2,090,661 3,046,654 Total current liabilities 7,004,963 8,018,589 Long-Term Obligations, Net of Current Portion: Long-term debt and finance lease obligations, net of current portion (Note 9) 19,696,803 19,717,266 Deferred tax liabilities, net 4,998,855 5,014,309 Operating lease liabilities 3,157,720 3,121,307 Long-term deferred revenue and other long-term liabilities 856,926 849,131 Total long-term obligations, net of current portion 28

View Full Filing

View this 10-Q filing on SEC EDGAR