Filing Flows › EchoStar (ECHO) › Q3 2025
EchoStar (ECHO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
EchoStar (ECHO) reported revenue of $3.6B for the third quarter 2025 (Q3 2025), -7% from a year earlier and -3% from the quarter before. Operating margin was -460.5%, net loss $12.8B (353.6% of revenue).
EchoStar, Q3 2025: revenue $3.6B (-7% year over year), operating margin -460.5%, net loss $12.8B, operating cash flow $112M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | -3% | -7% |
| Operating profit | −$16.6B | — | — |
| Net earnings | −$12.8B | — | — |
| Operating cash flow | $112M | 15× | -60% |
What changed
Revenue was $3.6B in Q3 2025, down 7% year over year and down 3% from the previous quarter. Service and other revenue was the largest line at 95% of revenue. Service and other revenue lost $0.24B year over year (down 7%), 88% of the total change.
Operating costs exceeded revenue by $16.6B, an operating margin of -460.5%. Total costs grew 400% against a revenue fall of 7%. The fastest-growing cost line was Other operating costs (+1928%). The quarter ended with a net loss of $12.8B, wider than the previous quarter's $0.31B loss.
Operating cash flow was $0.11B (down 60% year over year). Non-cash charges added back $0.39B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $12.5B. Capital expenditures of $0.26B exceeded it, leaving free cash flow of −$0.14B.
Questions
What was EchoStar's revenue in the third quarter 2025?
EchoStar (ECHO) reported revenue of $3.6B for the third quarter 2025 (Q3 2025), -7% from a year earlier and -3% from the quarter before.
Was EchoStar profitable in the third quarter 2025?
Operating loss was $16.6B (-460.5% of revenue) and net loss $12.8B.
Source: EchoStar 10-Q on SEC EDGAR.