Filing Flows › EchoStar (ECHO) › Q4 2025
EchoStar (ECHO) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
EchoStar (ECHO) reported revenue of $3.8B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and +5% from the quarter before. Operating margin was -20.5%, net loss $1.2B (32.0% of revenue).
EchoStar, Q4 2025: revenue $3.8B (-4% year over year), operating margin -20.5%, net loss $1.2B, operating cash flow −$425M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.8B | +5% | -4% |
| Operating profit | −$780M | — | — |
| Net earnings | −$1.2B | — | — |
| Operating cash flow | −$425M | -481% | — |
What changed
Revenue was $3.8B in Q4 2025, down 4% year over year and up 5% from the previous quarter. Service and other revenue was the largest line at 91% of revenue.
Operating costs exceeded revenue by $0.78B, an operating margin of -20.5%. Total costs grew 14% against a revenue fall of 4%. The fastest-growing cost line was Other operating costs (+102%). The quarter ended with a net loss of $1.2B, narrower than the previous quarter's $12.8B loss. Minority interests bore $0.01B of it: to shareholders the quarter was a loss of $1.2B.
Operating cash flow was −$0.43B. Non-cash charges added back $0.21B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.57B. Capital expenditures of $0.16B exceeded it, leaving free cash flow of −$0.58B.
Questions
What was EchoStar's revenue in the fourth quarter 2025?
EchoStar (ECHO) reported revenue of $3.8B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and +5% from the quarter before.
Was EchoStar profitable in the fourth quarter 2025?
Operating loss was $780M (-20.5% of revenue) and net loss $1.2B.
Source: EchoStar 10-K on SEC EDGAR.