Overview
- Annual revenue was $15.0 billion, a 5.2% decline from the prior year.
- Operating loss widened to $17.7 billion after large write-downs of network assets, and free cash flow was negative $1.74 billion.
- The company completed migration to a hybrid mobile network on November 15, 2025, with AT&T providing RAN and EchoStar retaining the core.
- EchoStar finalized spectrum divestiture deals with AT&T and SpaceX, addressed FCC inquiries, and began shutting or repurposing underutilized 5G equipment.
- Subscriber counts fell, ending 2025 with 7.51 million retail wireless customers, 7.00 million pay‑TV subscribers after roughly 168,000 Q4 losses, and about 739,000 broadband customers after roughly 44,000 Q4 losses.