EchoStar Corp. Files Q3 2024 10-Q

TL;DR

**EchoStar Q3 10-Q filed. Financials are in.**

AI Summary

EchoStar Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position, including revenues and liabilities. Specific financial figures and operational details are presented within the report.

Why It Matters

This filing provides investors and analysts with the latest financial performance and condition of EchoStar Corp., crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the nature of the communication services industry can involve significant market and regulatory risks.

Key Numbers

• 9601 SOUTH MERIDIAN BOULEVARD — Business Address (Headquarters location for EchoStar Corp.)
• 303-723-1000 — Business Phone (Contact number for EchoStar Corp.)

Key Players & Entities

• EchoStar Corp. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241112 (date) — Filing date
• 0001415404 (company) — Central Index Key for EchoStar Corp.

FAQ

Key Financial Figures

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

Filing Documents

• tmb-20240930x10q.htm (10-Q) — 4546KB
• tmb-20240930xex31d1.htm (EX-31.1) — 17KB
• tmb-20240930xex31d2.htm (EX-31.2) — 16KB
• tmb-20240930xex32d1.htm (EX-32.1) — 9KB
• tmb-20240930xex32d2.htm (EX-32.2) — 9KB
• 0001558370-24-015122.txt ( ) — 17119KB
• tmb-20240930.xsd (EX-101.SCH) — 98KB
• tmb-20240930_cal.xml (EX-101.CAL) — 94KB
• tmb-20240930_def.xml (EX-101.DEF) — 451KB
• tmb-20240930_lab.xml (EX-101.LAB) — 744KB
• tmb-20240930_pre.xml (EX-101.PRE) — 622KB
• tmb-20240930x10q_htm.xml (XML) — 3669KB

— 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 62 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 109 Item 4.

Controls and Procedures

Controls and Procedures 109

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 109 Item 1A.

Risk Factors

Risk Factors 109 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 113 Item 3. Defaults Upon Senior Securities None Item 4. Mine Safety Disclosures None Item 5. Other Information 114 Item 6. Exhibits 115

Signatures

Signatures 116 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 Relating to the DIRECTV Transaction We are subject to a number of risks while the DIRECTV Transaction is pending, which may have an adve

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS ECHOSTAR CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share amounts) (Unaudited) As of September 30, December 31, 2024 2023 Assets Current Assets: Cash and cash equivalents $ 622,608 $ 1,821,376 Current restricted cash and cash equivalents 2,047,489 — Marketable investment securities 51,792 623,044 Trade accounts receivable, net of allowance for credit losses of $ 82,427 and $ 74,390 , respectively 1,099,545 1,122,139 Inventory 441,683 665,169 Prepaids and other assets 649,802 644,005 Other current assets 87,458 16,081 Total current assets 5,000,377 4,891,814 Noncurrent Assets: Restricted cash, cash equivalents and marketable investment securities 156,323 118,065 Property and equipment, net 9,287,726 9,561,834 Regulatory authorizations, net 39,156,029 38,572,980 Other investments, net 216,139 314,370 Operating lease assets 3,158,548 3,065,448 Intangible assets, net 79,078 172,892 Other noncurrent assets, net 493,157 411,491 Total noncurrent assets 52,547,000 52,217,080 Total assets $ 57,547,377 $ 57,108,894 Liabilities and Stockholders' Equity (Deficit) Current Liabilities: Trade accounts payable $ 707,476 $ 774,011 Deferred revenue and other 645,719 754,658 Accrued programming 1,499,375 1,427,762 Accrued interest 406,619 297,678 Other accrued expenses and liabilities 1,699,434 1,717,826 Current portion of debt, finance lease and other obligations (Note 9) 2,520,297 3,046,654 Total current liabilities 7,478,920 8,018,589 Long-Term Obligations, Net of Current Portion: Long-term debt, finance lease and other obligations, net of current portion (Note 9) 21,557,251 19,717,266 Deferred tax liabilities, net 4,926,162 5,014,309 Operating lease liabilities 3,125,819 3,121,307 Long-term deferred revenue and other long-term liabilities 958,931

View Full Filing

View this 10-Q filing on SEC EDGAR