Slide 1: Q4 2025 Earnings
Q4 2025 Earnings March 2, 2026
Slide 2: Important Information
Important Information Caution Concerning Forward-Looking Statements All statements we make during this call, other than statements of historical fact, constitute forward-looking statements made pursuant to the Safe Harbor provided by the Private Securities Litigation Reform Act of 1995. These forwar
Slide 3: Quarterly Trended Charts
NH Quarterly Trended Charts ECHOSTAR
Slide 4: Wireless Metrics
Wireless Metrics EOP Subscribers(1) and Net Additions (Losses) Churn ARPU ($/Sub./Mo.) (in thousands) Year-over-Year Year-over-Year Year-over-Year Wireless EOP Subscribers(1) were better by 516K or 7.4% primarily due to: Wireless churn decreased by 3 basis points primarily due to: Wireless ARPU was
Slide 5: Pay-TV Metrics
Pay-TV Metrics EOP Subscribers(1) and Net Additions (Losses) DISH TV Churn Pay-TV ARPU ($/Sub./Mo.) (in thousands) Year-over-Year Year-over-Year Year-over-Year DISH TV EOP(1) subscribers were worse by (664K) or (11.7%) primarily due to:• DISH TV churn decreased by 21 basis points primarily due to: P
Slide 6: Hughes Metrics
Hughes Metrics EOP Subscribers (in thousands) Net Additions (Losses) (in thousands) Enterprise Backlog ($ in billions) Year-over-Year Year-over-Year Year-over-Year Hughes EOP subscribers were worse by (144K) or (16.3%) due to: Hughes Net Additions (Losses) were worse by (14K) or (48.3%) due to: Hugh
Slide 7: Financials - Revenue
Financials - Revenue Equipment sales and other revenue Total revenue ($ in millions) Service revenue ($ in millions) ($ in millions) Year-over-Year Year-over-Year Year-over-Year Total revenue was worse by ($171M) or (4.3%) due to: Service revenue was worse by ($273M) or (7.3%) due to: Equipment sale
Slide 8: Financials - Costs
Financials - Costs Cost of services ($ in millions) Cost of sales - equipment and other ($ in millions) SG&A ($ in millions, % of Total revenue) Year-over-Year Year-over-Year Year-over-Year Cost of services was better by $352M or 13.9% due to: Cost of sales - equipment & other was worse by ($27M) or
Slide 9: Financials - Profitability
Financials - Profitability Adj. OIBDA(1) ($ in millions, % of Total revenue) Net Income Attributable to EchoStar(2) ($ in millions) Year-over-Year Year-over-Year Adj. OIBDA(1) was better by $187M or 47.1% due to: Net income(2) was worse by ($1.5B) primarily due to: • Pay-TV ($117M) worse • Higher Imp
Slide 10: Financials - Cash Flow & CapEx
Financials - Cash Flow & CapEx Cash Flows from Operating activities Free Cash Flow(1) ($ in millions) CapEx(2) ($ in millions) ($ in millions) Year-over-Year Year-over-Year Year-over-Year Cash Flows from Operating Activities were worse by ($471M) Free Cash Flow(1) was better by $24M or 4.0% due to:
Slide 11: Financials - Balance Sheet & Interest
Financials - Balance Sheet & Interest Total Debt and Cash & Marketable Securities(1) ($ in millions) Cash Paid for Interest ($ in millions) Year-over-Year Year-over-Year Total Debt was lower by $623M or 2.3% due to: Cash paid for interest was higher by ($324M) or (60.7%) • Principal payments in 2025
Slide 12: NNT
NNT ECHUSTAR