DISH Network CORP

CIK:0001001082|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Revenue:
Total revenue	$ 3,280,894	$ 3,515,317	$ 10,186,796	$ 10,723,476
Costs and Expenses (exclusive of depreciation and amortization):
Cost of services	2,259,952	2,415,552	6,929,802	7,226,180
Cost of sales - equipment and other	323,719	319,564	974,127	956,918
Selling, general and administrative expenses	536,897	540,502	1,588,428	1,548,287
Depreciation and amortization	290,655	364,199	1,063,121	1,122,383
Impairments and other (Note 1)	16,036,001		16,036,001
Total costs and expenses	19,447,224	3,639,817	26,591,479	10,853,768
Operating income (loss)	(16,166,330)	(124,500)	(16,404,683)	(130,292)
Other Income (Expense):
Interest income	15,243	8,627	40,441	31,794
Interest expense, net of amounts capitalized (Note 2)	(332,003)	(160,625)	(759,507)	(495,821)
Other, net (Note 4)	(41,156)	18,019	(15,938)	80,884
Total other income (expense)	(357,916)	(133,979)	(735,004)	(383,143)
Income (loss) before income taxes	(16,524,246)	(258,479)	(17,139,687)	(513,435)
Income tax (provision) benefit, net	4,056,647	47,971	4,209,492	80,872
Net income (loss)	(12,467,599)	(210,508)	(12,930,195)	(432,563)
Less: Net income (loss) attributable to noncontrolling interests, net of tax	10	15	68	3,688
Net income (loss) attributable to DISH Network	(12,467,609)	(210,523)	(12,930,263)	(436,251)
Comprehensive Income (Loss):
Net income (loss)	(12,467,599)	(210,508)	(12,930,195)	(432,563)
Other comprehensive income (loss):
Foreign currency translation adjustments	(843)	(125)	(918)	(138)
Unrealized holding gains (losses) on available-for-sale debt securities	49	53	41	1,792
Recognition of previously unrealized (gains) losses on available-for-sale securities included in net income (loss)	(2)	(9)	(10)	(1,758)
Deferred income tax (expense) benefit, net	(11)	(2)	(7)	(3)
Total other comprehensive income (loss), net of tax	(807)	(83)	(894)	(107)
Comprehensive income (loss)	(12,468,406)	(210,591)	(12,931,089)	(432,670)
Less: Comprehensive income (loss) attributable to noncontrolling interests, net of tax	10	15	68	3,688
Comprehensive income (loss) attributable to DISH Network	(12,468,416)	(210,606)	(12,931,157)	(436,358)
Service revenue
Revenue:
Total revenue	3,164,369	3,380,913	9,768,894	10,329,859
Equipment sales and other revenue
Revenue:
Total revenue	$ 116,525	$ 134,404	$ 417,902	$ 393,617

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash Flows From Operating Activities:
Net income (loss)	$ (12,930,195)	$ (432,563)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:
Depreciation and amortization	1,063,121	1,122,383
Impairments and other (Note 1)	16,036,001
Non-cash impairment charge	5,487,286
Realized and unrealized losses (gains) and impairments on investments and other	11,823	922
Realized losses (gains) on Sale of Assets to EchoStar		(128,788)
Asset sales and other (gains) losses	5,062	(21,310)
Non-cash, stock-based compensation	16,000	19,250
Deferred tax expense (benefit)	(4,228,924)	(104,080)
Changes in allowance for credit losses	8,083	13,073
Change in long-term deferred revenue and other long-term liabilities	230,213	88,123
Other, net	37,155	88,079
Changes in operating assets and operating liabilities, net	(93,240)	229,401
Net cash flows from operating activities	155,099	874,490
Cash Flows From Investing Activities:
Purchases of marketable investment securities	(93,666)	(17,987)
Sales and maturities of marketable investment securities	60,577	34,118
Purchases of property and equipment (Note 6)	(687,077)	(977,141)
Capitalized interest related to regulatory authorizations (Note 2)	(550,172)	(491,094)
Purchases of regulatory authorizations, including deposits		(1,104)
Sale of Assets to EchoStar		245,800
700 MHz Spectrum Sale to EchoStar		1,036,500
Liberty Puerto Rico asset sale		95,435
Sale of Fiber business	47,207
Other, net	2,207	(36,429)
Net cash flows from investing activities	(1,220,924)	(111,902)
Cash Flows From Financing Activities:
Repayment of long-term debt, finance lease and other obligations	(45,131)	(97,205)
Redemption and repurchases of term loans, convertible and senior notes	(500,000)	(951,170)
Proceeds from New DISH DBS Financing		2,500,000
Debt issuance costs and debt (discount) premium from New DISH DBS Financing		(136,208)
Proceeds from EchoStar 2024 Intercompany Loan (Note 8)	2,201,895
Other, net	28	(61)
Net cash flows from financing activities	1,656,792	1,315,356
Net increase (decrease) in cash, cash equivalents, restricted cash and cash equivalents	590,967	2,077,944
Cash, cash equivalents, restricted cash and cash equivalents, beginning of period (Note 4)	730,789	462,748
Cash, cash equivalents, restricted cash and cash equivalents, end of period (Note 4)	$ 1,321,756	$ 2,540,692

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 1,118,957	$ 476,075
Current restricted cash, cash equivalents and marketable investment securities	128,826	150,898
Marketable investment securities	61	286
Trade accounts receivable, net of allowance for credit losses of $79,397 and $71,314, respectively (Note 12)	824,634	922,001
Inventory	225,064	303,328
Prepaids and other assets	316,929	588,892
Other current assets	4,288	37,786
Total current assets	2,618,759	2,479,266
Noncurrent Assets:
Restricted cash, cash equivalents and marketable investment securities	132,158	127,698
Property and equipment, net	1,483,083	7,229,089
Regulatory authorizations, net	25,941,704	30,840,398
Other investments, net	18,353	35,483
Operating lease assets	173,367	3,134,938
Intangible assets, net	53,594	63,857
Other noncurrent assets, net	286,713	283,780
Total noncurrent assets	28,088,972	41,715,243
Total assets	30,707,731	44,194,509
Current Liabilities:
Trade accounts payable (Note 12)	608,141	696,277
Deferred revenue and other	565,297	569,071
Accrued programming	1,222,607	1,339,072
Other accrued expenses and liabilities	2,079,871	1,641,168
Current portion of debt, finance lease and other obligations (Note 8)	3,131,385	933,481
Total current liabilities	8,035,929	5,407,411
Long-Term Obligations, Net of Current Portion:
Long-term debt, finance lease and other obligations, net of current portion (Note 8)	12,300,367	14,972,965
Intercompany Loans (Note 8)	8,166,078	5,781,811
Deferred tax liabilities, net	4,033,138	8,312,490
Operating lease liabilities	4,150,673	3,089,950
Long-term deferred revenue and other long-term liabilities	1,521,117	946,208
Total long-term obligations, net of current portion	30,171,373	33,103,424
Total liabilities	38,207,302	38,510,835
Commitments and Contingencies (Note 9)
Stockholder's Equity (Deficit):
Additional paid-in capital	5,183,135	5,435,387
Accumulated other comprehensive income (loss)	(3,653)	(2,759)
Accumulated earnings (deficit)	(13,123,293)	(193,030)
Total DISH Network stockholder's equity (deficit)	(7,943,811)	5,239,598
Noncontrolling interests	444,240	444,076
Total stockholder's equity (deficit)	(7,499,571)	5,683,674
Total liabilities and stockholder's equity (deficit)	30,707,731	44,194,509
Related party
Current Liabilities:
Accrued interest	87,400	21,850
Nonrelated party
Current Liabilities:
Accrued interest	$ 341,228	$ 206,492