EchoStar ECHO
EchoStar reports strong Q3 2026 results
- Form
- 10-Q
- Filed
- Importance
- Major
- Accession
- 0001104659-26-121675
- Revenue: $1.13 billion for the three months ended Sep 30, 2026
- Net income: $2.78 billion for the three months ended Sep 30, 2026
- Diluted EPS: $7.97 for the three months ended Sep 30, 2026
- Cash and equivalents: $13.44 billion at Sep 30, 2026
Written from the 10-Q on EDGAR. Check the filing before you rely on it.
Going-concern warning repeated
“● Certain of our subsidiaries currently do not have the necessary cash on hand, projected future cash flows or committed financing to fund their obligations over the next twelve months, which raises substantial doubt about certain of our subsidiaries' ability…”
Also in the prior 10-Q (filed Aug 3, 2026). Prior report Prior on EDGAR
Quoted from the filing. Not advice.
What changed since last quarter
2 new risk factors · 1 removed · 12 new legal mentions
Compared with the 10-Q for the period ended Jun 30, 2026.
| This filing | Previous | Change vs prior 10-Q | |
|---|---|---|---|
| Revenue | $1.13B | $3.58B | −69% |
| Operating income and margin | $147.75M · 13.1% | $512.94M · 14.3% | −71%, margin −1.2 pts |
| Net income | $2.78B | $8.46B | −67% |
| Operating cash flow | $113.04M | −$9.96M | +1235% |
| Cash | $13.44B | $439.99M | +2954% |
New risk factors (2)
- On June 30, 2026, our subsidiary DISH DBS Corporation and certain of its subsidiaries (the "DISH DBS Filing Entities"), including DISH Wireless L.L.C. and its subsidiaries (the "DISH Wireless Filing Entities," and together with the DISH DBS Filing Entities, the "DISH Filing Entities"), commenced voluntary cases under… +5 more paragraphs
- We Use AI Technologies in Our Business, and the Use of These Technologies Involves, among other things, Certain Technological and Legal Risks. +3 more paragraphs
Removed risk factors (1)
- On June 30, 2026, our subsidiary, DISH DBS Corporation and certain of its subsidiaries (the "DISH DBS Filing Entities"), including DISH Wireless L.L.C. and its subsidiaries (the "DISH Wireless Filing Entities," and together with the DISH DBS Filing Entities, the "Filing Entities"), commenced voluntary cases under… +4 more paragraphs
New legal mentions (12)
- Pursuant to the terms of the RSA, during the three months ended September 30, 2026, the DISH DBS Deconsolidated Subsidiaries prepaid without penalty the aggregate principal amount of $ 2.350 billion of the subsidiaries' 5 1/4% Senior Secured Notes due December 1, 2026. +6 more paragraphs
- On August 27, 2026, the June 2026 Filing Entities informed the Bankruptcy Court that they had determined to bifurcate the Prepackaged Chapter 11 Plan into separate plans for the DISH DBS Filing Entities and the DISH Wireless Filing Entities. +2 more paragraphs
- As of September 30, 2026, the carrying amount of our investment in the June 2026 Deconsolidated Subsidiaries is $ 0 . +2 more paragraphs
- We elected July 31, 2026, as the convenience date for deconsolidation because the financial position and results of operations of the July 2026 Deconsolidated Subsidiaries from July 31, 2026, through the August 2, 2026 filing date of the Hughes Chapter 11 Cases were deemed immaterial on a qualitative and quantitative…
- On October 15, 2026, pursuant to a confidential settlement between the parties and with approval from the Bankruptcy Court presiding over the DISH Wireless L.L.C. Chapter 11 case, Active Wireless dismissed its Eastern District of Texas lawsuit and DISH Wireless dismissed its District of Colorado lawsuit.
- and 7 more in the filing
The reading, claim by claim
From the filing's financial data, not stated in its text
From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026
- For the quarter ended September 30, 2026, EchoStar CORP reported: Revenue $1.1 billion.
- Net income $2.8 billion.
- Operating margin 13.1%.
- Net margin 246.7%.
- Revenue change from a year earlier -68.8%.
From the filing
Item 6.
Item 6.
Exhibits
140
Signatures
141
Table of Contents
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, "DISH DBS" refers to DISH DBS Corporation, a wholly-owned, indirect subsidiary of DISH Network, and its subsidiaries and "HSSC" refers to Hughes Satellite Systems Corporation, our wholly owned, indirect subsidiary, 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:
In li
Item 1. 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,
2026
2025
Assets
Current Assets:
Cash and cash equivalents
$
13,437,355
$
1,883,074
Current restricted cash, cash equivalents and marketable investment securities (Note 6)
—
175,838
Marketable investment securities
531,344
1,100,891
Trade accounts receivable, net of allowance for credit losses of $ 216,728 and $ 79,590 , respectively
401,458
1,273,849
Advances to the Deconsolidated Subsidiaries, net of allowance for credit losses of $ 4,882 and $ 0 , respectively
195,844
—
Inventory
119,213
380,647
Prepaids and other assets
151,151
284,194
Other current assets, net of allowance for credit losses of $ 22,649 and $ 0 , respectively
112,182
34,678
Total current assets
14,948,547
5,133,171
Noncurrent Assets:
Restricted cash, cash equivalents and marketable investment securities
72,151
176,203
Property and equipment, net
1,357,899
2,243,515
Regulatory authorizations, including restricted, net (Note 11)
17,116,754
34,548,952
Other investments, net
194,050
194,046
Operating lease assets
22,513
214,549
Intangible assets, net
39,656
54,413
FCC escrow
2,400,000
—
Other noncurrent assets, net
160,069
451,506
Total noncurrent assets
21,363,092
37,883,184
Total assets
$
36,311,639
$
43,016,355
Liabilities and Stockholders' Equity (Deficit)
Current Liabilities:
Trade accounts payable
$
291,074
$
541,706
Deferred revenue and other
169,979
639,173
Accrued programming
—
1,224,222
Accrued interest
276,044
309,462
Other accrued expenses and liabilities
720,394
2,327,587
Current portion of debt, finance lease and other obligations (Note 10)
14,080
7,321,269
Total current liabilities
1,471,571
12,363,419
Long-Term Obligations, Net of Current Portion:
Long-term debt, finance lease and other obligations, net of current portion (Note 10)
9,642,155
18,658,602
Deferred tax liabilities, net
3,609,131
598,590
Operating
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