For the year ending 2025-12-31, SATS had -$2,411,649K decrease in cash & cash equivalents over the period. -$1,065,104K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | -14,506,939 | -124,515 | -1,634,824 | 166,548 |
| Depreciation and amortization | 1,585,549 | 1,930,193 | 1,597,923 | - |
| Prepaids and other | 398,422 | - | - | - |
| Regulatory authorizations | 5,784,779 | - | - | - |
| Property and equipment, net | 6,456,414 | - | - | 711 |
| Operating lease assets | 4,257,724 | - | - | - |
| Exit and disposal costs | 786,388 | - | - | - |
| Losses Gains Restructuring Costs Settled | -51,716 | - | - | - |
| (gains) losses on costs paid or settled | -51,716 | - | - | - |
| Impairments and other (note 1) | 17,632,011 | - | - | - |
| Echostar exchange offers debt extinguishment gains (losses) (note 10) | - | 688,661 | - | - |
| Realized and unrealized losses (gains) and impairments on investments and other | 1,562 | -73,217 | 46,888 | - |
| Asset sales and other losses (gains) | 100,028 | 50,418 | - | - |
| Non-cash, stock-based compensation | 36,272 | 36,383 | 51,514 | 11,546 |
| Interest expense paid in kind on long-term debt | 95,120 | - | - | - |
| Realized and unrealized losses (gains) on derivatives | - | - | -1,693,387 | - |
| Deferred tax expense (benefit) | -4,412,902 | 28,281 | -337,222 | - |
| Equity in (earnings) losses of affiliates | - | 73,451 | - | - |
| Changes in allowance for credit losses | -3,038 | 8,238 | 14,600 | - |
| Change in long-term deferred revenue and other long-term liabilities | -50,654 | 12,555 | 15,825 | - |
| Other, net | 60,359 | 183,775 | 166,383 | -3,711 |
| Trade accounts receivable | 28,546 | 171,365 | -20,622 | 50,959 |
| Losses (gains) on investments, net | - | - | - | 47,107 |
| Non-current assets and non-current liabilities, net | - | - | - | 6,841 |
| Prepaid and accrued income taxes | 10,431 | -43,430 | -15,836 | - |
| Foreign currency transaction losses (gains), net | - | - | - | 5,235 |
| Other current assets | - | 54,039 | 40,290 | 6,456 |
| Other-than-temporary impairment losses on equity method investments | - | - | - | 0 |
| Contract liabilities | - | - | - | -19,604 |
| Inventory | -59,368 | -189,648 | 37,981 | - |
| Amortization of debt issuance costs | - | - | - | 783 |
| Accrued expenses and other current liabilities | - | - | - | -3,649 |
| Other operating assets and operating liabilities | -7,895 | - | - | - |
| Equity in losses (earnings) of unconsolidated affiliates, net | - | - | - | -5,703 |
| Impairment of long-lived assets and goodwill | - | - | 761,099 | - |
| Trade accounts payable | -130,828 | 108,982 | 4,108 | 8,825 |
| Depreciation and amortization | - | - | - | 457,621 |
| Deferred revenue and other | -11,313 | -103,718 | -78,555 | - |
| Deferred tax provision (benefit), net | - | - | - | 21,430 |
| Accrued programming and other accrued expenses | -319,707 | -242,740 | 267,110 | - |
| Net cash flows from operating activities | -99,374 | 1,252,697 | 2,432,647 | 529,605 |
| Sales of other investments | - | - | - | 3,070 |
| Sale of unconsolidated affiliate | - | - | - | 7,500 |
| Sales and maturities of marketable investment securities | - | - | - | 1,136,594 |
| Liberty puerto rico asset sale (note 15) | - | 95,435 | - | - |
| Purchase of other investments | - | - | - | 0 |
| Dividend received from unconsolidated affiliate | - | - | - | 2,000 |
| Proceeds from other debt investments | - | - | 148,448 | - |
| Sale of assets to conx (note 18) | - | 26,719 | - | - |
| Purchases of marketable investment securities | 3,069,138 | 1,253,543 | 2,407,546 | 1,067,461 |
| Refunds and other receipts of purchases of property and equipment | - | - | 38,611 | - |
| Expenditures for externally marketed software | - | - | - | 23,105 |
| Sales and maturities of marketable investment securities | 3,228,293 | 573,031 | 3,710,544 | - |
| Purchases of regulatory authorizations, including deposits | - | 1,104 | 2,009 | - |
| Purchases of property and equipment (note 8) | 965,730 | 1,544,877 | 3,100,921 | 325,891 |
| Capitalized interest related to regulatory authorizations (note 2) | 676,311 | 951,747 | 1,162,473 | - |
| Sale of fiber business | 47,207 | - | - | - |
| Proceeds from new dish dbs financing (note 10) | - | 2,500,000 | - | - |
| India jv formation | - | - | - | 7,892 |
| Other, net | -31,073 | -7,736 | 33,386 | - |
| Purchase of ownership interest | - | 441,998 | 109,432 | - |
| Net cash flows from investing activities | -1,404,606 | -3,048,350 | -2,808,732 | -275,185 |
| Debt issuance costs and debt (discount) premium from new dish dbs financing | - | 134,510 | - | - |
| Repayment of debt, finance lease and other obligations | 70,063 | 108,961 | 121,981 | - |
| Net proceeds from class a common stock options exercised and stock issued under the employee stock purchase plan | - | - | 10,598 | - |
| Redemption and repurchases of debt (note 10) | 974,037 | 2,933,714 | 1,460,635 | - |
| Proceeds from issuance of pipe shares (note 3) | - | 400,000 | - | - |
| Proceeds from issuance of debt (note 10) | 150,000 | 5,386,000 | 1,500,000 | - |
| Contribution by non-controlling interest holder | - | - | - | 0 |
| Debt issuance costs and debt (discount) premium | -946 | -182,279 | 21,635 | - |
| Repurchase and maturity of the 2021 senior unsecured notes | - | - | - | 0 |
| Proceeds from class a common stock issued under the employee stock purchase plan | - | - | - | 9,306 |
| Early debt redemption gains (losses) | 11,465 | - | 73,024 | - |
| Payment of in-orbit incentive obligations | - | - | - | 2,988 |
| Class a common stock repurchases | 48,512 | - | - | 89,303 |
| Proceeds from classa common stock options exercised | - | - | - | 0 |
| Repurchases of convertible notes | - | - | 182,834 | - |
| Net proceeds from class a common stock options exercised and stock issued under the employee stock purchase plan | 49,199 | 4,192 | - | - |
| Payment of finance lease obligations | - | - | - | 120 |
| Other, net | -27,419 | -5,153 | -7,496 | 0 |
| Net cash flows from financing activities | -910,313 | 4,483,577 | -277,121 | -83,105 |
| Effect of exchange rates on cash and cash equivalents | 2,644 | -5,721 | 3,004 | -2,306 |
| Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents | -2,411,649 | 2,682,203 | -650,202 | 169,009 |
| Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (note 6) | 4,593,804 | - | - | - |
| Cash, cash equivalents, restricted cash and cash equivalents, end of period (note 6) | 2,182,155 | - | - | - |
EchoStar CORP (SATS)
EchoStar CORP (SATS)