Quarterly report

Summary

• On June 30, 2026, subsidiaries DISH DBS Corporation and DISH Wireless L.L.C. and their subsidiaries commenced voluntary prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas, and EchoStar deconsolidated them for financial reporting effective that date.
• EchoStar recorded a non-cash Deconsolidation gain of $9.729 billion, producing net income attributable to EchoStar of $8,462,372 thousand for the three months ended June 30, 2026, versus a loss of $306,132 thousand a year earlier.
• On July 28, 2026, EchoStar completed the AT&T Transactions, selling all its 3.45 GHz and 600 MHz spectrum licenses plus a 99-year Hawaii lease extension and receiving $20.250 billion in cash, of which AT&T remitted $2.4 billion into an FCC-mandated Wireless Creditor Trust.
• Proceeds funded repayment of the $2.0 billion DISH DBS 7 3/4% Senior Notes due July 1, 2026 and redemption of the $3.5 billion DISH Network 11 3/4% Senior Secured Notes due November 15, 2027.
• Under the Amended and Restated SpaceX License Purchase Agreement, total consideration rose to approximately $20 billion, with up to $11 billion payable in SpaceX Class A stock through about 261.8 million shares at $42.40 per share, and the Spectrum Acquisition Closing targeted for November 30, 2027.
• Total revenue was $3.576 billion for the quarter, a decrease of $149 million or 4.0%, and consolidated operating income was $513 million versus a $213 million loss a year earlier; Pay-TV subscribers ended at 6.391 million.

Why it mattersThe deconsolidation removes substantially all of EchoStar's Pay-TV segment from consolidated results starting in the third quarter of 2026. The AT&T close and pending SpaceX spectrum sale reshape EchoStar into a wireless and satellite operator holding a large SpaceX equity stake.