SATS at a glance
EchoStar CORP (SATS, SEC CIK 1415404) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on October 2, 2026 and Form 4 insider filings as recently as October 5, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), EchoStar CORP (SATS) reported revenue of $15.0 billion (down 5.2% from FY2024) and a net loss of $14.5 billion. Diluted EPS was -$50.41.
- As of June 30, 2026, 36 institutional investment managers tracked by SignalX reported holding EchoStar CORP (SATS) shares worth $6.6 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Wade William David on August 13, 2026 of 2,425 shares at $91.48 per share.
- In the last 90 days, SATS insiders reported 0 open-market purchases ($0) and 4 open-market sales ($1.2M) on Form 4, a net sale of $1.2M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $15.0B
- −5.2% vs prior year
- Insiders · 90 days
- 0 buys · 4 sells
- Net −$1.2M
- 13F holders
- 36 funds
- $6.6B · −1 vs prior quarter
- Latest 8-K
- Aug 7, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: provider of Pay-TV, Wireless, Broadband and Satellite services with complex IT and network products integration
- Strategic shift: terminated 5G Network deployment post-AT&T and SpaceX spectrum license transactions, began network decommission for unused assets
- Notable metric: total debt $25.98 billion as of Dec 31, 2025, raising substantial doubt about going concern status
- New emphasis: significant investments in cybersecurity and risk mitigation amid rising sophisticated cyber-attacks and regulatory data privacy risks
- Unusual fact: going concern qualification due to insufficient cash and financing, potential for Chapter 11 considered if liquidity not secured
Risk Factors
- Regulatory risk: FCC stopped accepting new ACP program enrollments Feb 7, 2024, ended funding June 1, 2024 causing Wireless ACP subscriber losses
- Macroeconomic risk: Pay-TV subscriber base declined 10.0% in 2025 to 6.998 million, reducing service revenue by $971 million (9.1%) YoY
- Operational risk: Rising retransmission rates for local broadcast programming may exceed pricing power, pressuring margins and subscriber retention
- Market disruption: Launch of ESPN Unlimited and FOX One OTT sports packages in Aug 2025 increasing competition for live-linear content
- Financial risk: DISH TV subscriber acquisition cost increased 20.5% to $1,204 in 2025 driven by higher ad, commission, and equipment costs
Management Discussion & Analysis
- No cash flow, buybacks, dividends, or capex amounts mentioned
- Forward-looking risks: competition, regulatory uncertainty around FCC licenses, supply chain delays, and increasing programming costs
AI summary of the SATS 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- $750M 6⅝% notes due August 1, 2026, requiring refinancing, restructuring, or additional capital
- $45M 3⅜% convertible notes due August 15, 2026, expected funding from cash and transaction proceeds
- $202M term loan and preferred-share repayments during six months ended June 30, 2026
- $1.6B term loan and preferred-share balance prepaid March 16, 2026
- $3.5B DISH Network senior secured notes redeemed July 28, 2026
Risk Factors
- Newly added bankruptcy risk triggered by June 30, 2026 Chapter 11 filings by DISH DBS and DISH Wireless subsidiaries
- Most material update: Bankruptcy Court confirmation required before restructuring, with creditor objections potentially delaying emergence
- Regulatory and legal risk: Creditors may assert claims against non-debtor EchoStar or subsidiaries, threatening liquidity
- Operational risk: Decommissioning DISH Wireless’s facilities-based 5G network may disrupt vendors, customers, and counterparties
- Financial risk: Deconsolidation effective June 30, 2026 removes Pay-TV results beginning third quarter 2026, complicating historical comparisons
AI summary of the SATS 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- Reg FD disclosure consists solely of forward-looking statement cautionary language
- Investors should treat projections in related “Cleansing Materials” as uncertain and subject to material variance
Item EX-99.1: Item EX-99.1
- Hughes management plan targets revenue growth from $1.433B in 2025A to $1.822B in 2030E, a 4.9% CAGR
- Enterprise orders forecast to increase 80% to $839M in 2026, with backlog exceeding $1.6B
Item 8.01: Other Events
- Chapter 11 trading warning: HSSC and EchoStar securities highly speculative, with prices potentially disconnected from bankruptcy recoveries
- Robert Del Genio appointed Chief Restructuring Officer on July 28, 2026, adding FTI restructuring expertise
Item EX-99.1: Item EX-99.1
- Hughes and certain U.S. subsidiaries filed voluntary Chapter 11 petitions to address maturing secured and unsecured debt
- Hughes plans to refocus on enterprise, government, and defense businesses during reorganization
Item 1.03: Bankruptcy or Receivership
- HSSC’s Chapter 11 filing automatically accelerated its debt obligations
- Bankruptcy stay blocks creditors from enforcing payment while proceedings continue
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Paul Gaske resigned immediately from all EchoStar and HSSC director and officer positions
- Retirement-related departure creates leadership transition risk across both entities
Item 7.01: Regulation FD Disclosure
- HSSC filed Bankruptcy Petitions on August 3, 2026
- Bankruptcy announcement creates material counterparty and recovery risk for EchoStar stakeholders
AI summaries of SATS 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for SATS
Don't miss the next SATS filing
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- Fund moves. Which tracked funds opened, added or cut SATS, by share count.
- Ask anything. An AI agent that reads every SATS filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Rupczynski Robert Joseph | A | Oct 1, 2026 | 25,000 | - |
| Swieringa John | F | Oct 1, 2026 | 21,875 | $88.25 |
| Wade William David | Sell | Aug 13, 2026 | 2,425 | $91.48 |
| Wade William David | Sell | Aug 12, 2026 | 2,575 | $92.65 |
| BYE STEPHEN J | M | Aug 7, 2026 | 3,508 | $26.60 |
| BYE STEPHEN J | M | Aug 7, 2026 | 3,508 | - |
| BYE STEPHEN J | M | Aug 7, 2026 | 5,000 | - |
| BYE STEPHEN J | M | Aug 7, 2026 | 5,000 | $25.19 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $15.8B | $15.0B |
| Operating Income | - | -$304.1M | -$17.7B |
| Net Income | -$1.7B | -$119.5M | -$14.5B |
| Op. Margin | - | -1.9% | -118.1% |
| Net Margin | - | -0.8% | -96.6% |
| Balance Sheet | |||
| Total Assets | $57.1B | $60.9B | $43.0B |
| Equity | - | $20.2B | $5.8B |
| ROE | - | -0.6% | -251.4% |
| Per Share | |||
| EPS | $-6.28 | $-0.44 | $-50.41 |
| Cash Flow | |||
| Operating CF | - | $1.3B | -$99.4M |
| CapEx | $3.1B | $1.5B | $965.7M |
Source: XBRL data in EchoStar CORP (SATS)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate SATS share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 36 | $6.58B |
| Q1 2026 | 37 | $9.35B |
| Q4 2025 | 34 | $7.76B |
| Q3 2025 | 32 | $5.08B |
| Q2 2025 | 29 | $1.62B |
| Q1 2025 | 27 | $1.01B |
| Q4 2024 | 23 | $845.0M |
| Q3 2024 | 19 | $396.7M |
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- FMR LLC (Fidelity)−8.66M (-77%)
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- JPMorgan Chase & Co−2.65M (-63%)
- Northern Trust−574.6K (-32%)
- D.E. Shaw & Co−5.9K
- Two Sigma Investments−2.5K
- Hilltop Holdings Inc.−1.7K
Source: 13F-HR filings on SEC EDGAR (aggregated from 237 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
SATS filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 5, 2026 | - | - | - |
| 4 | Oct 5, 2026 | - | - | - |
| 8-K | Oct 2, 2026 | - | - | - |
| 4 | Aug 14, 2026 | - | - | - |
| SC 13G | Aug 13, 2026 | - | - | |
| 4 | Aug 11, 2026 | - | - | - |
| SC 13G | Aug 7, 2026 | - | - | |
| 8-K | Aug 7, 2026 | - | Analysis | - |
| 10-Q | Aug 3, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 3, 2026 | - | Analysis | - |
| 4 | Jul 31, 2026 | - | - | - |
| 8-K | Jul 28, 2026 | - | Analysis | - |
| 4 | Jul 22, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 14, 2026 | - | - | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jul 7, 2026 | - | - | - |
| 8-K | Jul 7, 2026 | - | Analysis | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jul 7, 2026 | - | - | - |
| 4 | Jun 30, 2026 | - | - | - |
| 4 | Jun 30, 2026 | - | - | - |
| 8-K | Jun 25, 2026 | - | Analysis | - |
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SATS SEC filings: frequently asked questions
Are SATS insiders buying or selling?
In the last 90 days, EchoStar CORP (SATS) officers, directors and 10% owners reported no open-market purchases and 4 open-market sales worth $1.2 million by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold SATS stock?
As of June 30, 2026, the largest EchoStar CORP (SATS) holders among the 13F filers tracked by SignalX were BlackRock ($1.3 billion), State Street Corp ($1.1 billion), Vanguard Capital Management LLC ($897.4 million), Vanguard Portfolio Management LLC ($598.9 million), Goldman Sachs Group ($373.3 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was SATS's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), EchoStar CORP (SATS) reported revenue of $15.0 billion (down 5.2% from FY2024) and a net loss of $14.5 billion. Diluted EPS was -$50.41. The figures come from the XBRL data in the 10-K.
What are the main risks in SATS's latest 10-K?
In the 10-K filed March 2, 2026, EchoStar CORP (SATS) flagged: Regulatory risk: FCC stopped accepting new ACP program enrollments Feb 7, 2024, ended funding June 1, 2024 causing Wireless ACP subscriber losses. Macroeconomic risk: Pay-TV subscriber base declined 10.0% in 2025 to 6.998 million, reducing service revenue by $971 million (9.1%) YoY. (AI summary of the Risk Factors section.)
What did SATS report in its latest 8-K?
EchoStar CORP (SATS) filed an 8-K on August 7, 2026 reporting Item 7.01 (Regulation FD Disclosure). Reg FD disclosure consists solely of forward-looking statement cautionary language.
What are the latest SATS SEC filings?
EchoStar CORP (SATS) filed its latest 10-K annual report on March 2, 2026, a 10-Q quarterly report on August 3, 2026, an 8-K current report on October 2, 2026 and a Form 4 insider filing on October 5, 2026.
What is SATS's SEC CIK number?
EchoStar CORP (SATS)'s SEC Central Index Key (CIK) is 1415404. EDGAR lists every SATS filing under that number.
Ask anything about SATS
The research agent reads SATS's filings, financials, insider trades and 13F holders, then answers with sources.