EchoStar Corporation (ECHO) Income Statement
ECHO 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsECHO revenue and net income
Where ECHO's revenue goes
2025Each bar shows an amount and its share of revenue. ECHO kept −96.6% of revenue as net income.
ECHO profit margins
ECHO growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −5.2% | −7.0% | +51.4% | +16.9% |
| Gross profit | −31.9% | −15.5% | +27.6% | +11.2% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
ECHO quarterly EPS vs estimates
EchoStar beat the analyst EPS estimate in 4 of the last 7 quarters. Next report: November 5, 2026 (estimate $-0.04).
ECHO income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.00B | $15.83B | $17.02B | $18.63B | $19.82B | $1.89B | $1.89B | $2.09B | $1.89B | $3.06B |
| Cost of revenue | $11.13B | $10.14B | $11.95B | $12.21B | $12.50B | $744.4M | $787.4M | $780.9M | $758.5M | $1.74B |
| Gross profit | $3.87B | $5.69B | $5.07B | $6.42B | $7.32B | $1.14B | $1.10B | $1.31B | $1.13B | $1.32B |
| Research & development | — | — | $110.0M | $32.8M | $31.8M | $29.4M | $25.7M | $27.6M | $31.7M | $76.0M |
| Sales, general & admin | $2.38B | $2.43B | $2.99B | $3.02B | — | — | — | $436.1M | $370.5M | $325.0M |
| Total operating expenses | $3.97B | $5.99B | $5.35B | $4.19B | $3.90B | $1.03B | $1.03B | $1.06B | $919.9M | $956.7M |
| Operating income | −$91.1M | −$304.1M | −$277.9M | $2.23B | $3.42B | $112.5M | $73.1M | $183.2M | $196.3M | $364.4M |
| Interest income | $228.7M | $116.6M | $207.4M | $93.2M | — | — | — | — | — | — |
| Interest expense | $1.52B | $481.6M | $90.4M | $79.2M | $111.2M | $147.9M | $251.0M | $219.3M | $184.4M | $123.6M |
| Income before taxes | −$18.89B | −$75.6M | −$1.93B | $3.34B | $3.35B | −$27.8M | −$93.2M | −$8.0M | $100.7M | $286.8M |
| Income taxes | −$4.39B | $48.9M | −$296.9M | $798.4M | $828.4M | $24.1M | $20.5M | $30.7M | −$284.3M | $106.2M |
| Net income | −$14.50B | −$119.5M | −$1.70B | $2.48B | $2.49B | −$40.1M | −$62.9M | −$40.5M | $392.6M | $179.9M |
| EBITDA | −$15.79B | $2.34B | −$247.4M | $4.59B | $4.67B | $645.1M | $746.1M | $633.6M | $840.1M | $773.0M |
| EPS (diluted) | −$7.12 | −$0.51 | −$6.29 | $1.62 | $0.06 | $0.50 | −$0.25 | −$0.77 | $0.99 | $1.93 |
| Gross margin | 25.8% | 36.0% | 29.8% | 34.5% | 36.9% | 60.6% | 58.3% | 62.7% | 59.8% | 43.2% |
| Operating margin | −0.6% | −1.9% | −1.6% | 12.0% | 17.3% | 6.0% | 3.9% | 8.8% | 10.4% | 11.9% |
| Net margin | −96.6% | −0.8% | −10.0% | 13.3% | 12.5% | −2.1% | −3.3% | −1.9% | 20.8% | 5.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.58B | $3.67B | $3.80B | $3.61B | $3.72B | $3.87B | $3.97B | $3.89B | $3.95B | $4.01B | $15.71B | $4.11B |
| Cost of revenue | $2.35B | $2.54B | $2.68B | $2.76B | $2.82B | $2.43B | $3.01B | $2.93B | $2.92B | $2.92B | $11.39B | $2.98B |
| Gross profit | $1.23B | $1.13B | $1.12B | $852.4M | $909.1M | $1.44B | $961.4M | $959.8M | $1.04B | $1.09B | $4.32B | $1.13B |
| Research & development | — | — | — | — | — | — | — | — | $29.0M | — | — | $6.5M |
| Sales, general & admin | $547.8M | $639.0M | $531.4M | $621.5M | $629.5M | $597.9M | $564.2M | $643.1M | $595.0M | — | — | — |
| Total operating expenses | $716.1M | $805.6M | $744.3M | $1.01B | $1.12B | $1.53B | $1.02B | $1.12B | $1.10B | $1.11B | $4.69B | $1.16B |
| Operating income | $512.9M | $326.7M | $370.8M | −$160.4M | −$213.4M | −$88.1M | −$62.7M | −$160.8M | −$65.4M | −$15.2M | −$372.6M | −$31.3M |
| Interest income | $40.9M | $29.4M | $44.6M | $53.2M | $65.4M | $65.5M | — | — | — | — | — | — |
| Interest expense | $509.1M | $592.7M | $579.4M | $377.1M | $279.2M | $286.1M | $219.5M | $81.5M | $81.2M | $99.4M | $51.2M | $12.7M |
| Income before taxes | $9.79B | −$168.2M | −$1.30B | −$16.94B | −$392.1M | −$267.3M | $437.8M | −$179.0M | −$224.1M | −$110.3M | −$2.01B | −$178.2M |
| Income taxes | −$1.33B | −$20.9M | −$81.6M | −$4.16B | −$85.3M | −$64.0M | $102.7M | −$35.2M | −$16.6M | −$1.9M | −$335.6M | −$59.4M |
| Net income | $8.46B | −$146.9M | −$1.21B | −$12.78B | −$306.1M | −$202.7M | $335.2M | −$141.8M | −$205.6M | −$107.4M | −$1.75B | −$138.4M |
| EBITDA | $10.47B | $591.0M | −$504.9M | −$16.17B | $380.2M | $507.1M | $1.12B | $380.0M | $364.6M | $474.5M | −$670.3M | $240.8M |
| EPS (diluted) | $0.19 | −$0.71 | −$4.16 | −$1.19 | −$1.06 | −$0.71 | $1.17 | −$0.52 | −$0.76 | −$0.40 | −$6.80 | $0.04 |
| Gross margin | 34.4% | 30.9% | 29.4% | 23.6% | 24.4% | 37.1% | 24.2% | 24.7% | 26.2% | 27.3% | 27.5% | 27.4% |
| Operating margin | 14.3% | 8.9% | 9.8% | −4.4% | −5.7% | −2.3% | −1.6% | −4.1% | −1.7% | −0.4% | −2.4% | −0.8% |
| Net margin | 236.6% | −4.0% | −31.8% | −353.6% | −8.2% | −5.2% | 8.5% | −3.6% | −5.2% | −2.7% | −11.1% | −3.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in ECHO's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
ECHO financial results
In fiscal year 2025 (ended December 31, 2025), EchoStar reported revenue of $15.0 billion, down 5.2% from the year before. It had a net loss of $14.5 billion, a net profit margin of −96.6%. Diluted earnings per share came to −$7.12. Over five years revenue grew at an average rate of 51.4% a year.
See the ECHO stock overview for the latest quote and news, or the ECHO chart for price history and technical indicators.
ECHO income statement FAQ
What is EchoStar's annual revenue?
EchoStar reported total revenue of $15.0 billion for fiscal year 2025, which ended on December 31, 2025. That was down 5.2% from $15.8 billion the previous year.
Is EchoStar profitable?
No. EchoStar reported a net loss of $14.5 billion in fiscal 2025, a net profit margin of −96.6%; its operating margin was −0.6%.
What is EchoStar's gross margin?
EchoStar's gross margin was 25.8% in fiscal 2025: for every $100 of revenue, EchoStar kept $26 after the direct cost of its products and services.
How fast is EchoStar growing?
Revenue grew 51.4% a year on average over the last five fiscal years, from $1.9 billion to $15.0 billion.
What are EchoStar's earnings per share?
EchoStar earned $-7.12 per diluted share in fiscal 2025, compared with $-0.51 a year earlier.
When will EchoStar report its next earnings?
EchoStar is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does EchoStar's fiscal year end?
EchoStar's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.